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How to reclaim Santander dividend cheques
My_perfect_cousin
Posts: 62 Forumite
I have been told the following by Santander:
Shareholders receive quarterly (usually) dividends by cheque unless they complete a form to request that the dividend is paid directly into a bank account.
If dividend cheques are not cashed, Santander occasionally write to shareholders to tell them - this can be 3 years after the cheque has not been cashed. Santander do not do this automatically for all customers. As such it seems likely that some shareholders may be unaware that they have uncashed dividend cheques - and Santander may not be about to tell them either.
Even when Santander do alert shareholders to the uncashed dividend cheque, the bank will only send the cheque to the shareholder (minus an admin fee) if contacted and asked to do so by the shareholder.
However, where a Santander shareholder opts to have dividend payments made directly into a bank account (ie the shareholder gives Santander the details of a bank account for future payment of dividends - which doesn't have to be Santander) Santander apparently automatically pay any old uncashed cheques into the bank account - minus the admin fee.
As such, it seems that Santander shareholders might want to either:
a) write to Santander to request the re-issuing of any uncashed dividend cheques:
b) sign up for direct payment of dividends into a bank account thus triggering the payment of any old uncashed cheques:cool:
Shareholders receive quarterly (usually) dividends by cheque unless they complete a form to request that the dividend is paid directly into a bank account.
If dividend cheques are not cashed, Santander occasionally write to shareholders to tell them - this can be 3 years after the cheque has not been cashed. Santander do not do this automatically for all customers. As such it seems likely that some shareholders may be unaware that they have uncashed dividend cheques - and Santander may not be about to tell them either.
Even when Santander do alert shareholders to the uncashed dividend cheque, the bank will only send the cheque to the shareholder (minus an admin fee) if contacted and asked to do so by the shareholder.
However, where a Santander shareholder opts to have dividend payments made directly into a bank account (ie the shareholder gives Santander the details of a bank account for future payment of dividends - which doesn't have to be Santander) Santander apparently automatically pay any old uncashed cheques into the bank account - minus the admin fee.
As such, it seems that Santander shareholders might want to either:
a) write to Santander to request the re-issuing of any uncashed dividend cheques:
b) sign up for direct payment of dividends into a bank account thus triggering the payment of any old uncashed cheques:cool:
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