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Reducing mail from ASX/CHESS/broker

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jjbinks

Joined
14 May 2013
Posts
309
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Hi Guys,

Last time I traded shares now about 4 years ago I got way to many letters re each sell/buy/dividend etc.
I am wondering if there is a way to minimise these letters. My broker was commsec looking at something cheaper for brokerage.

Thanks
 
Electronic contract notes to e-mail address and nominate a bank account for dividend payments. With Commsec go to Portfolio -> Accounts -> Account Details and you will see the page to make the preference changes.
 

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I think the only way you can (currently) avoid getting the ASX statements for every buy and sell is to go with Interactive Brokers ...but no Chess sponsorship. I think Saxo would be the same (without Chess).

With IB you can update electronic communications for other stuff here:
http://www.proxyconsent.com/IBUS

The ONLY thing I receive trading with Interactive Brokers is a 6 monthly statement in the mail. Not sure if you can stop that too
 
Sir Burr said:
The ONLY thing I receive trading with Interactive Brokers is a 6 monthly statement in the mail. Not sure if you can stop that too
Click to expand...
Thanks that's probably what im looking for. One letter every 6 months is OK. I guess it nice to recieve mail every so often but not too often.
 
Is anyone aware of how to actually opt out of the monthly paper Chess Buy/Sell statements? Looking around on the internet it looks like only one or two brokers actually allow you to opt into receiving your Chess stuff via email. I'm really sick of the envelope of paper every month telling me what I bought and sold.

Electronic delivery of CHESS notifications

ASX has launched the ASX CHESS Statements Portal, giving you the ability to receive electronic notifications about your holdings.
www2.asx.com.au
 
buying/selling less shares helps ,also selecting to exit any DRP schemes you participate in helps as well

personally i love them , i keep the envelops to either

A. use as extra compost in the garden

B. as reserve tinder in case i need to start a wood-fire in the event of power-outages or just camp-fires to save power-bills and reduce tree litter around the yard
 
A
So_Cynical said:
Broker needs to issue you with a login so you can opt in - what a colossal
load of ****, the kind of system you have when you want no one to use it.
Click to expand...
And also I tried to update on Computershare registrary, talk about jumping through hoops of fire. Won't accept just about anything I am trying to change. Guess it will be nuisance phone call to some damn call centre to get them to sort it out.
 
farmerge said:
A

And also I tried to update on Computershare registrary, talk about jumping through hoops of fire. Won't accept just about anything I am trying to change. Guess it will be nuisance phone call to some damn call centre to get them to sort it out.
Click to expand...
Compushare is in a league of its own in term of pathetic website,awful process, slowness and the need to reenter same data over and over and sending you back kgs of mails literally kgs
The dread of a trader not to think of the costs for the companies.
Links much better as are Atomic etc
So 3 accounts myself , better half and joint, times 4 (compushare,link, boardroom atomic) 12 accounts to have passwords for and then go to regularly to updates,and 12 streams of letters.. .what a ******* nightmare of administrative burden and redtape.. symbolic of this country in 2023
 
farmerge said:
A

And also I tried to update on Computershare registrary, talk about jumping through hoops of fire. Won't accept just about anything I am trying to change. Guess it will be nuisance phone call to some damn call centre to get them to sort it out.
Click to expand...

First about the CHESS notices. As people here know they are issued by the ASX not a share registry. As far as I know only two brokers (Stake being one I believe) have agreed to participate in the ASX electronic delivery of CHESS notices.

Second, about that share registry. Cross your fingers if you hold a company which moves from that registry. All your transaction history will no longer be available to you to view. It's there but you'll have to pay to get it if you haven't kept you own records. If you rely on a broker to keep the records, fair enough but be aware of this:

Records you need to keep | Australian Taxation Office

Records you need to show a payment or expense, the format to keep your records in, and how long to keep them.
www.ato.gov.au

And don't rely on the ATO pre-fill. There is a disclaimer that it may not be accurate. It is to be taken as a guide only. In any case, expecting the pre-fill means the ATO is keeping your records, so you don't have to, is in conflict with the Section 3.10 of ITAA 1997, which places the onus on the taxpayer to keep records.
 
It seems that it is on the brokers (rather than link/computershare?) to enable this service, I've only found Pearler/Stake/Nabtrade so far according to my 30 seconds of googling. The computershare stuff I think is just for opting in/out of the mailed annual reports or voting slips?

Help Article | Pearler

Pearler is an investment platform empowering everyday people on their journey to financial independence and growing their wealth. Join the community today!
pearler.com

CHESS vs custodial model | How can we help?

Get help, support and answers to your questions about investing on Wall St and the ASX through Stake.
hellostake.com

asx-statement-form

www.nabtrade.com.au
I can't see where nabtrade says they do it - but the above is a form they've got, so I'm assuming they do it. Must be a few nabtrade ppl here? have you used this yet?

Government can legislate I can't have a plastic straw because of the evil carbons, but they can't legislate giving customers a choice to avoid all this needless paper printing? Guess something has to keep subsidizing Australia Post.
 
The Triangle said:
It seems that it is on the brokers (rather than link/computershare?) to enable this service
Click to expand...

The Triangle said:
The computershare stuff I think is just for opting in/out of the mailed annual reports or voting slips?
Click to expand...

Correct.

Computershare is for updating any bank account for receipt of dividends and email address for communications e.g. dividend statements, annual reports, etc

One of my kids found out to their cost the price of ignoring to update details. She holds a Vanguard product and had done the necessary actions (provided TFN, bank account details, email for distribution and AMIT statements, self-certifying under FACTA/CRS, etc.) Subsequently she added another Vanguard ETF and assumed all the details she had already provided would automatically be filled. Nope. The TFN hadn't been recorded and an old (now closed) bank account was to receive the distributions. Took her a while to sort it out. All this despite a previous warning from me not to assume the details for the new holding would be correct. I can only suggest, of course, the rest is up to her.

As for CHESS statements I only receive a relatively few each year as I don't trade. The most annoying part is they have my HIN details, etc. Not even a blanked out Xxxxxxxx123. Thanks for the poor security ASX. I really don't need some blaggard possibly rummaging through my mail and obtaining sensitive information - which we are told to keep safe.
 
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