Computershare and Link Market Services etc.

[Smurf1976]

Not to mention the wasted paper and resources sending out all those paper copy confirmation letters, after you've just told them you want email communication!

This.

I’ve tried telling them to stop but thus far no success.

Fixed with a shredder but it’s a terrible waste of paper, time etc.

 

[Zaxon]

And we can add to this CHESS, where I believe there's no option for digital holding statements. I get a fistfull of statements at times. I shudder to think how many active traders get.

 

[HelloU]

For my two private accounts I have to enter bank details, email address and TFN etc for any new purchases. Same for my SMSF plus add ABN.

They already have all this info with my HIN so it should automatically be associated with each stock purchase for the associated HIN.

Next week I will have a PO box full of letters, one for each stock with all my bank details and HIN # etc

ok, thanks, and myrtie as well ...

i remember that some have an option to "apply to all holdings" but cannot remember which ones i am thinking of (some of the stuff they send out - after you have told them not to send stuff out - like change of bank details is because that is a legal requirement in aussie - they get no choice), and sometimes the company does not allow the registry site to do certain transactions without a written form being used. Anyway .......

 

[So_Cynical]

ok, thanks, and myrtie as well ...

i remember that some have an option to "apply to all holdings" but cannot remember which ones i am thinking of

And after doing this they send you a letter telling you that its done, change all holdings and you get 15 or 20 letters or 2 or 3 large envelopes.

 

[HelloU]

And after doing this they send you a letter telling you that its done, change all holdings and you get 15 or 20 letters or 2 or 3 large envelopes.

yeah, i know exactly what u r talking about, which is why i was sayin that some of the stuff they do must be followed up by snail no matter what u have ticked inside the site - but specifically what those things are i cannot list.

similar thing for some superannuation changes, i do all the to/fro via email but at the completion i have to be sent a written confirmation letter.

insurance used to be the same (maybe still is?) ....... do all the stuff online/email but they had to send paper stuff out at the end as a written contract confirmation.

I remember when faxed signatures were not accepted, and then emailed signed forms were not accepted, and now the latest battle is getting "digital signatures" accepted inside a pdf document that contains editable elements (one of my brokers make an editable pdf form that "locks" after the signature box has had a digital signature added. But they will NOT then accept that pdf sent back to them as valid as the file still contains some markers of the broker. so they make me "print" the form - still signed - then email the print scan back to them as a "brand new" pdf). I just live with it .....

 

[peter2]

These "service" providers drive me up the wall for all the reasons previously mentioned.
I've got another reason. I received a div statement that shows some money has been withheld due to no TFN being on record. Looked at the registry's record to see that my TFN is there. (me wtf?). Explanation from the registry service informs me that my HIN number is different for this holding (I changed brokers a while ago) and that the new and old HINs aren't linked. The end result is that the new HIN doesn't include the TFN.

OK I said, slightly peeved, link them. Oh we can't, because the new HIN doesn't have any current holdings (I sold soon after XD as the price fell). Arrgh.

OK I said, even more peeved, will you remind me to link the HINs when I do buy something that you're the share register for? Oh no we don't do that.

 

[HelloU]

here i was thinking u would be an IB man ..........

 

[peter2]

Further "venting" of the useless nature of these registry businesses (from a shareholder view).
I've bought shares in a company that uses Boardroom once more. Logged in to re-enter my TFN. No holdings displayed. WTHeck. I remember from my last phone call that it's under my new HIN. No indication from the Boardroom website that I have to do anything to be able to see the holdings. Another phone call and I'm a bit short with the operator who doesn't deserve my irritation.

I'm informed that I have to add the new investor HIN. I fill out a request form to ask myself (the initial Boardroom investor) if the new investor's holdings can be viewed by myself. (I kid you not.) I emailed the request to myself. I replied to accept the request. I submit the reply to the request to Boardroom and now I've got access to all my holdings (via two Boardroom accounts).

I add the TFN to the new holdings. I can't wait to buy shares in another company that uses Boardroom.

Compare this to Computershare Investor Centre. I log in and am immediately informed that there are 9 communication and 5 TFN modifications to be made. One click takes me to the appropriate form and I enter the details ONCE and all modifications are applied across all holdings. Time taken 60 seconds.

Now to Link Market Services: Log in to see there's no current holdings. Oh oh, here I go again.
No message to tell me to add the new HIN or modify any holdings (because there aren't any).

But now I'm an experienced registry user. I see the Add Holding button. Click it and enter the new HIN. Hey presto after 60 sec processing time all current holdings appear. I check the TFN, nope it's not there. I add it and apply it to all companies on the list. Done.

I wonder if I'm going to get 24 envelopes in the mail notifying me of the change of details?

I can't be bothered to check my holdings on the Automic registry.

It's a joke isn't it.

 

[peter2]

Yep, received 24 bits of paper in four envelopes telling me that I elected to receive all company communications by email. Should I suggest to Link that they could have used email?

Edit: Short and medium term traders need a paper shredder. They don't tell you this in the how to trade books.

 

[Boggo]

Yep, received 24 bits of paper in four envelopes telling me that I elected to receive all company communications by email. Should I suggest to Link that they could have used email?

Edit: Short and medium term traders need a paper shredder. They don't tell you this in the how to trade books.

Just amazing in this age of technology

 

[Boggo]

More of the same here

https://www.aussiestockforums.com/posts/1052096/

 

[BoNeZ]

More venting.

I have two HIN's. One is a joint account with my wife and the other an individual account in my name. While it's cumbersome Link and Boardroom allow you to create a single userid to access shares owned in both accounts. Computershare are still stuck in the past and insist I have separate userid's to access the accounts which means two userid's, two passwords and two sets of security questions pointing to the same email address.

I made the mistake of buying a New Zealand share (CNU) on the ASX and because the are managed by Computershare I now need a New Zealand userid but can't use one of the userid's I'm using in Australia. I have to create a third userid pointing to the same email address with another password and another set of security questions.

I'm getting more buy signals than I have cash at present so might just sell and invest the money elsewhere.

 

[peter2]

Computershare: : "We do not have your TFN or ABN recorded."
Me: Yes you do you lazy sob it's on 80 other stock codes.

 

[Dona Ferentes]

just had three calls from 3 nice people about participation is the one entitlement offer now current (and probably struggling)

At least they were Aussie voices.

 

[Boggo]

Computershare: : "We do not have your TFN or ABN recorded."
Me: Yes you do you lazy sob it's on 80 other stock codes.

A few days ago I got an envelope with all the usual requests for ABN, TFN, bank details etc on a stock that I have held before.
When I went on the site they already had all the correct details associated, probably from the last time I held the stock.

Someone has to be making a fortune out of this archaic and out dated process !

 

[HelloU]

just make the point that it is not compulsory to apply a TFN to a holding. that is the choice of the individual (on saying that i cannot remember if there is a button to say always apply it? so if there is not, then you must be given the option to opt in)

 

[qldfrog]

A few days ago I got an envelope with all the usual requests for ABN, TFN, bank details etc on a stock that I have held before.
When I went on the site they already had all the correct details associated, probably from the last time I held the stock.

Someone has to be making a fortune out of this archaic and out dated process !

I think the point is:
buy ASX , the company ,and enjoy that for every letter mailed, they charge the listed company involved and so increase your dividend....

 

[Dona Ferentes]

I think the point is:
buy ASX , the company ,and enjoy that for every letter mailed, they charge the listed company involved and so increase your dividend....

That would be CPU and LNK as registries.

BoardRoom is worse. Finding new kid on the block Atomic to be excellent

 

[qldfrog]

That would be CPU and LNK as registries.

BoardRoom is worse. Finding new kid on the block Atomic to be excellent

Yes CPU, my mistake

 

[peter2]

Link Market Services - should change their name to Link No Service.

Changed address - received notice from Link that address has been changed.
Changed bank details - received notice from Link that new bank account details recorded.

Three weeks later div put in old bank account and div advice sent to old address.

Link have been to only registry to totally stuff this up.