Charges to Cancel Out of Date Cheque

jonesMUFCforever

What are the cheques for?

Unless I missed it you have not answered why they had an old address for you - did you advise them of a new address or not?

A_Frayed_Knot

jonesMUFCforever wrote: »

What are the cheques for?

Cheques are for share dividends

Unless I missed it you have not answered why they had an old address for you - did you advise them of a new address or not?

answered in Post 4 - To be honest it was a while ago and I'm not sure if I told them or not.
.

jonesMUFCforever

A_Frayed_Knot wrote: »

answered in Post 4 - To be honest it was a while ago and I'm not sure if I told them or not.
.

Tell them you have not received the dividends and that they can put the money direct into your bank account.
If you are not sure about changing the address you will have to bite the bullet re any charge to get new cheques if they are unwilling to pay direct into your account.

Biggles

IIRC, there is still no charge for a business to stop a cheque lost in the post, which is basically what these are as no one seems to have received them.

They should report them as lost and you should offer to sign a 'form of indemnity'* (which is a document that agrees that you will reimburse them if the lost cheque is later found and banked by a third party, or even by yourself).

* Many years ago, when I worked in NHS finance, this was standard procedure if someone claimed that a cheque was lost.

System

The charge is individual to the bank - many charge business customers & there is also the company's own admin costs.

The terminology is that the cheque becomes 'stale' after 6 months but are still essentially a valid payment instruction.

I'd just pay them the fee and update your address next time or move to direct bank credit.

Biggles wrote: »

IIRC, there is still no charge for a business to stop a cheque lost in the post, which is basically what these are as no one seems to have received them.

They should report them as lost and you should offer to sign a 'form of indemnity'* (which is a document that agrees that you will reimburse them if the lost cheque is later found and banked by a third party, or even by yourself).

* Many years ago, when I worked in NHS finance, this was standard procedure if someone claimed that a cheque was lost.

Vortigern

It's not really a charge for "stopping a cheque" - it's a charge for the admin work involved in re-issuing the dividend cheques.

Having said that, I think the fees that the share registrars charge for this work are excessive and disproportionate.

Thrugelmir

Vortigern wrote: »

Having said that, I think the fees that the share registrars charge for this work are excessive and disproportionate.

Time is expensive once all overheads are factored in.