I'm not financially sophisticated.
My old mum, who is now very forgetful, had a letter in the week from one of the main share registrars. It said she had been posted a dividend cheque she had never cashed. Whether it ever came or whether she forgot it and lost it we will never know.
These kind of letters she now gives to me to deal with. Closer reading now I'm home after our visit to her shows that the cheque is for about £145. However, to reissue it they require an up front payment of a whopping £35, which covers "some of their admin costs".
To add insult, you can only do it with a debit card on a premium rate phone line....no dea whether they will take payment from me, or even talk to me. I do have POA but they don't know that at this point.
I mean, really, this is how they work?
Anybody think like me that's a tad expensive to just get her own cash? I imagine there's no alternative if I'm going to get (some of) her money for her.
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It's so long since I did anything similar that I couldn't say, but it sounds unsurprising. The premium rate phone line without the option is a cheek though.
Get them to credit future divis to her bank account.
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Not Equiniti is it?
I have the same problem with them for similar reasons. I can't really believe that it costs more than £10 to reissue a cheque and cancel an old one, after all the process is likely to be fully computerised nowadays!
Try saynoto0870.com for a low cost number.
Last edited by: zippy on Sat 23 Jul 16 at 19:58
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It's Capita, so sounds like they're all the same then. I have already set up the direct to bank payment, but only recently, and this cheque pre-dates that. Good idea for the low cost number. I'll look. Thanks.
Oh well,smarts a bit but guess I just have to do it.
Edit. Interestingly, it's a different fee for differing cheque amounts. However do they justify that, if it's just an admin fee?
Last edited by: Crankcase on Sat 23 Jul 16 at 20:15
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I use an Android app instead of saynoto0870 these days. It's call weq4u and if you get put on hold you press 9* then it drops your call and calls you back when an agent answers. You have to be pretty smart picking up the call, and it can't always find an alternative number, but IMO is more up to date than saynoto0870.
play.google.com/store/apps/details?id=com.orderlysoftware
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>> It's call weq4u
It's in the Apple Store too.
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I did it once, years ago, and I mean years - perhaps over 40. Cost - a stamp for the letter!
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Crankcase, redirect the post to yours. We do that. Not sure what the options are at 24 months though. I think there's a limit.
Maybe you can let it lapse and the restart it.
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It's no wonder scams are so easy to set up is it? Premium rate phone numbers, money up front to release what's yours anyway. And that's just the 'legal' side of the financial services industry...
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It sounds as if it *is* a scam but supposing it is genuine and the fee were more than the payment, what would you do? This happened to me once. The investment was in a nominee account and the broker simply refrained from progressing payment.
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>> >> It's call weq4u
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>> It's in the Apple Store too.
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I can't find it in the App Store on (iPad)
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>> I can't find it in the App Store on (iPad)
An iPad isn't a phone.
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>> I can't find it in the App Store on (iPad)
You need to change the setting in the App store to look for iPhone Apps. Start a search, then change the "iPad Only" to "iPhone Only" along the top menu.
>> An iPad isn't a phone.
It can be set up to be used as one though, providing you link it to your iPhone.
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check they have your correct postcode.
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Get it paid straight into a bank by BACS or whatever there is an option !
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Financial annoyance - Manatee
