Re-issuing dividend cheques?

Delboy19

Hi all,

My other half has recently been emptying her old flat after the tenant who was in it passed away. Whilst doing so we found a letter a couple of months old from Standard Life with her dividend cheque for £70. It also stated that she had uncashed cheques for £1800!

We weren't aware that cheques weren't being paid into a back account and tenant had been binning the previous mail.

Anyway, on contacting SL, they are saying that it will be £15 per cheque to re issue and there is 22 in total (over £300!)

Does this sound excessive for an admin charge and is it standard practice to issue all the cheques individually?

Thanks in advance for any advice offered!

Chino

Delboy19 wrote: »

Thanks in advance for any advice offered!

Your wife should advise Standard Life Aberdeen's registrars - and those of any other companies she holds shares in - of her new address. This was never her late tenant's responsibility.

Delboy19

Chino wrote: »

Your wife should advise Standard Life Aberdeen's registrars - and those of any other companies she holds shares in - of her new address. This was never her late tenant's responsibility.

Thanks Chino, we are aware of that now. What we didn't know though was that the cheques were going there. It was share account she got years ago and with us moving house etc it slipped off the radar.

Ironically enough, the tenant was a friend and he didn't hold on to any mail (I know as you say this isn't his responsibility).

As I said, just wondering about fees being quoted?

Thanks again.

Flobberchops

If those are the fees they're quoting then I would tend to take that as your answer; you're unlikely to find anybody on this forum who are better placed to advise you on Standard Life's policies. Likewise, it's probably their policy to reissue lost cheques individually rather than combining them, even if this is less convenient for you. If in doubt, ask them!



Perhaps try a polite request to them that they waive some, if not all, of the fees. Threaten to leave, make up some extenuating story, or similar - it'll ultimately be at their discretion though.

jaybeetoo

Why don’t you set up for future dividends to be paid direct into a bank account?

Delboy19

Flobberchops wrote: »

If those are the fees they're quoting then I would tend to take that as your answer; you're unlikely to find anybody on this forum who are better placed to advise you on Standard Life's policies. Likewise, it's probably their policy to reissue lost cheques individually rather than combining them, even if this is less convenient for you. If in doubt, ask them!



Perhaps try a polite request to them that they waive some, if not all, of the fees. Threaten to leave, make up some extenuating story, or similar - it'll ultimately be at their discretion though.

Yep, prepared for this to be the answer, as mentioned, more asking I guess if anyone had similiar experience and the outcome. Will plead to their charitable nature! :rotfl:

Delboy19

jaybeetoo wrote: »

Why don’t you set up for future dividends to be paid direct into a bank account?

Actioned already to avoid repeat!:)

IvanOpinion

I can sympathise with you. A cheque from Standard Life did not arrive with us - it was for just over £30. Several months later they sent us a notice that we had not cashed the cheque and it would have to be reissued. I contacted them and they wanted £25 to reissue it.

I refused this kind offer and for the past 10 years they have been sending me a couple of letters a year telling me that the cheque has expired and I will need to ask them to reissue it. Every few years I contact them, they tell me it will be £25 and I say I am not paying - which seems to reset the clock for how many more years they will keep sending me letters. it would have been cheaper for them to just send me the cheque.

MovingForwards

That is quite reasonable, it tends to be on an upward rising scale, the more the cheque is the more it costs to replace!

xylophone

They would not consent to cancel all the cheques and pay the whole amount into your other half's bank account?

Delboy19

xylophone wrote: »

They would not consent to cancel all the cheques and pay the whole amount into your other half's bank account?

Nope. I know ultimately it was our error re the change of address, but it seems so excessive to say the least coupled with the lack of compromise (at the moment). Ah well, will give them a call and see where we are.

Thanks everyone for input.

Db19