Shares - cheques out of date

A_Frayed_Knot

I have shares and the companies send me cheques every now and again. I moved and did not inform them at the time.

I have since wrote to them and they say they have cheques for me but I have to pay an admin charge of £20.00 per cheque. Total £80.00 admin charge.

Could I ask for 1 cheque to be sent for the total amount, therefore saving me £60.00. I do know that it was my fault for not informing them of change of address.
Anybody else been in this situation and how did you deal with it.


ps Just had another thought - could i ask them to pay straight into my account, saving them the effort of sending a cheque/s, reducing admin fee.

droopsnoot

Is it one company that owes you these cheques, or several companies? I would think they would be the best people to ask as to what they're happy to do. Many organisations would far rather do a direct bank transfer than go to the trouble of issuing a cheque, and maybe this is why they stick such a high admin charge on. Ask them.

A_Frayed_Knot

One company, (the other company charged me £20.00 for 4 cheques) but this company want £20.00 for each cheque that they owe me that is over £50.00, they also owe me another 4 cheques but they are under £50.00 so won't charge for these.

They sent me a letter requesting £80 admin charge (4 cheques at £20.00 each) before they would send me the money they owe me.

So will ask, just wondered if anyone had been in the same position, and what they done about it/how they dealt with it/outcome.

grey_gym_sock

first, make sure you are dealing with the company's real registrar, not a scammer pretending to be them. because asking for an admin charge in advance is not normal: it is usually deducted from the payment made to you.

so find who is the company's registrar (e.g. from their website). and find the registrar's contact details on their website, so you can see whether it matches what you've been given, or phone them to ask whether it's genuine.

if it is genuine, then some posters on MSE have reported success in haggling it down to 1 fee when they send a single replacement cheque. so it's worth a try.

dunno if you'd get anything more off by asking for a direct payment. but you could ask them to make future payments directly, to avoid any further lost cheque hassles.