Fidelity - Idiots

dazeruk

Last week I faxed through a request to sell all holdings in my S&S ISA held with Fidelity. I needed the money for a car auction this coming weekend so explicitly stated that I wanted the money transferred by BACS to my funding account and not for a cheque to be sent. I wrote the details of the bank account I wanted the money going to, which is the funding bank account.

Today, I get a cheque through the post !!!!

If I deposit this in my bank account it's not going to clear in time for the money to be available for the weekend.

The ironic thing is there was a letter with the cheque, stating that this is the last time they will be able to issue a cheque and that future fund transfers must be done electronically. I didn't want a cheque in the first place.

Spoke to them on the phone but nobody seems to know why my instructions were ignored. Gonna call me back later today.

barak

This is an area where Fidelity are in a complete mess. They have in theory removed the option to pay distributions by cheque, but from time to time they send me dividend cheques asking me to complete a mandate to pay them into my bank when there has been one in existence for over 2 years.

bendix

dazeruk wrote: »

Last week I faxed through a request to sell all holdings in my S&S ISA held with Fidelity. I needed the money for a car auction this coming weekend so explicitly stated that I wanted the money transferred by BACS to my funding account and not for a cheque to be sent. I wrote the details of the bank account I wanted the money going to, which is the funding bank account.

Today, I get a cheque through the post !!!!

If I deposit this in my bank account it's not going to clear in time for the money to be available for the weekend.

The ironic thing is there was a letter with the cheque, stating that this is the last time they will be able to issue a cheque and that future fund transfers must be done electronically. I didn't want a cheque in the first place.

Spoke to them on the phone but nobody seems to know why my instructions were ignored. Gonna call me back later today.

What's the problem?

Pay the cheque in today. Your car auction is at the weekend, when banks are closed so any cheque you use to pay for the car will be cashed next week.

Jeez . .why sweat the small stuff.

And if you'd arranged all this a couple of days earlier, there would be no issue at all.

mike88

The payment arrangements are here for BCA. Most auction places operate along similar lines.


Go to the cashier’s office and pay the balance of the agreed price and buyer’s fee. We make this simple with a range of payment options:

• telegraphic transfer - call the auction centre for more details
• MasterCard or Visa credit card to a maximum value of £50,000 (subject to a handling fee of 2.5% + VAT)
• debit card, such as UK Maestro, Solo, Visa Delta and Electron, to a maximum value of £50,000
• cash, to a maximum of £9,000 for any single transaction or series of linked transactions (subject to a handling fee of 1.25% + VAT)
• cheque – if you have a BCA cheque account you can take the vehicle immediately, otherwise we will wait for your cheque to clear and you will need to return to collect your vehicle
• banker’s draft to a maximum value of £5,000 with 2 forms of ID (vehicles released on cleared funds, or subject to BCA Account and credit limit status)

You can therefore write a cheque but will have to return later to collect the vehicle after the cheque has cleared.

dazeruk

bendix wrote: »

What's the problem?

I explained above what the problem is.

My instructions for carrying out this transaction were ignored.

bendix wrote: »

Pay the cheque in today. Your car auction is at the weekend, when banks are closed so any cheque you use to pay for the car will be cashed next week.

As mike88's information shows, I'll now probably have to make two trips to get the vehicle. We don't all have time on our hands to waste like you.

bendix wrote: »

Jeez . .why sweat the small stuff.

And if you'd arranged all this a couple of days earlier, there would be no issue at all.

So I should have anticipated these problems and carried out the transaction a few days earlier? Sorry, but I thought over a week was enough time to get the money into my account.

bendix

dazeruk wrote: »

I explained above what the problem is.

My instructions for carrying out this transaction were ignored.



.

You're angry because your instructions were ignored?

Who are you, the Queen of Persia?

Let it go . . .

dazeruk

bendix wrote: »

You're angry because your instructions were ignored?

Who are you, the Queen of Persia?

Let it go . . .

I said it was a problem that my instructions were ignored.

Can't find where I said I was angry.

Blobby8_2

FredaScott wrote: »

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Oh do pi$$ off

bendix

dazeruk wrote: »

I said it was a problem that my instructions were ignored.

Can't find where I said I was angry.

Why don't you buy yourself a car to cheer yourself up?

mike88

bendix wrote: »

Why don't you buy yourself a car to cheer yourself up?

Daz. Don't take any notice as this poster pops up regularly to insult people. He seems to enjoy sniping away by passing judgement and sneering while at the same time failing completely to post anything remotely constructive.