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Computershare extortionate charge for re-sending dividend
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misterthrifty
Posts: 492 Forumite
I have discovered that one of my share holdings changed how they distributed a dividend a couple of years ago, rather than re-invest as usual, they sent the payment (via Computershare). I wasn't aware of this at the time and I'm not sure whether they sent a cheque as they didn't have my bank details. I have just found out and contacted Computershare to see how it can be paid, they want £63 for re-sending the payment! I feel this is totally unfair and unreasonable. I thought at most they were only able to charge a reasonable cost to cover their expenses? Is this what I should expect or can I challenge it?
TIA
TIA
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I'm guessing you have certificated holdings? In which case you're stuck with what the registrar, in this case Computershare, wants to charge. My suggestion would be to lodge them with a stockbroker. You simply won't have these sorts of issues.misterthrifty said:I have discovered that one of my share holdings changed how they distributed a dividend a couple of years ago, rather than re-invest as usual, they sent the payment (via Computershare). I wasn't aware of this at the time and I'm not sure whether they sent a cheque as they didn't have my bank details. I have just found out and contacted Computershare to see how it can be paid, they want £63 for re-sending the payment! I feel this is totally unfair and unreasonable. I thought at most they were only able to charge a reasonable cost to cover their expenses? Is this what I should expect or can I challenge it?
TIA
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Hi,they don't need your bank details to send you a cheque.0
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have just found out and contacted Computershare to see how it can be paid, they want £63 for re-sending the payment! I feel this is totally unfair and unreasonableIf you have employed staff recently, you would not think it was unreasonable.
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
I read it as they thought a cheque would be sent as the registrar didn't have their bank details.frugalmacdugal said:Hi,they don't need your bank details to send you a cheque.Remember the saying: if it looks too good to be true it almost certainly is.0
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