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Registry Paperwork

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Funda-Struck

Funda-Struck

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Stupid question (there are no stupid questions).

I've been trading a massive amount lately, and the paperwork arriving from the registers (computershare, Link) is huge.
I had a look at the websites to see if I can opt to auto fill my details on transactions (ie, abn, bank details, etc). Cant find the option.

I don't mind too much, but the costs involved to the registers in their admin and postage must be a huge burden, especially to accommodate short term traders.

Is this just the way it is?
 
burglar said:
Thats right, no stupid questions in the Beginner's Lounge!
You seem to have Issuer Sponsored shares when you could just as easily convert to CHESS

On page 10
How do I convert shares from the Issuer Sponsored
subregister to the CHESS subregister?
Click to expand...
Sorry burglar;
I'm sure the OP is CHESS sponsored; otherwise the "massive amount of trades" wouldn't make sense.
While "massive" is relative, I also trade quite frequently, and the paperwork I receive from the respective Share Registries for every new trade is indeed substantial.

But it does seem to be "the way it is" - at least I haven't found a way around it this century.

I bought a heavy-duty paper shredder for the bulk of it; I have also registered online accounts with each of the Share Registries, and whenever a new "Welcome" letter arrives, I immediately set the comm's options to email, requesting only the minimum required by Law.
 
same here: a massive amount of waste
I am with Bell Direct and asked them if there was a way for them to help..but no...
And you then have to deal with the anticated computershare web pages to register.
one good point:
after a while you basically have traded most of the asx and have all your preferences and details entered
until you decide to have multiuple trading account (joint/partner/self etc) and the nightmare starts again
good luck;
I still do not understand why you could not have by default one contact/banking/preferences set per CHESS.
But hey, they must have outsourced their IT department!!!
 
qldfrog said:
same here: a massive amount of waste
I still do not understand why you could not have by default one contact/banking/preferences set per CHESS.
But hey, they must have outsourced their IT department!!!
Click to expand...

... or their brains :rolleyes: :confused:

But then again, for the Registries, it makes sense to continue with it. They charge their client (the Company) for every service, and you can bet your bottom dollar that they don't charge "at cost", but at a healthy mark-up. Consequently, saving trees and postage is not in their interest.
 
qldfrog said:
I still do not understand why you could not have by default one contact/banking/preferences set per CHESS.
Click to expand...

I hold some long term investments with Westpac and they auto submitt the TFN and Banking details to CHESS. I still receive the forms but I don't need to return them. I also need to manually choose the communication options, however.

qldfrog said:
But hey, they must have outsourced their IT department!!!
Click to expand...

And the IT firm owns a papermill or something...
 
Thanks for the replies.

I've been logging into the registries to fill out my info and email before the mail arrives... but that doesn't stop the mail either.
 
skc said:
I hold some long term investments with Westpac and they auto submitt the TFN and Banking details to CHESS. I still receive the forms but I don't need to return them. I also need to manually choose the communication options, however.
Click to expand...

I am trying to help my parents navigate E-trade... does anyone know if Etrade automatically submitt TFN to Chess / share registry? I know they do for bank account details, but so far it seems TFN is a manual process?

Thanks
 
Automatic for me with Etrade, skc. Supplied the TFN once and that was it. I just receive hard copy confirmation letter saying 'we have these details for you, please advise if incorrect' .
 
Julia said:
Automatic for me with Etrade, skc. Supplied the TFN once and that was it. I just receive hard copy confirmation letter saying 'we have these details for you, please advise if incorrect' .
Click to expand...

Thanks. Will wait to see what happens after the next few transactions.
 
I'm new to share trading in Australia, and I immediately noticed the large amount of paper compared to my past experience with online trading in Canada. I did everything to avoid paper in advance and thankfully I don't have to re-register my details, but despite selecting electronic communication only, I continue to get loads of paper mail.

The funniest was a letter to tell me I had selected electronic communication!

So I'm going to see if I can justify buying some Computershare, and then it won't bother me anymore.
 
I know I can look up company details containing share registries. Is there a site where I can enter a list of companies and get the share registries in one list? Then I could update details for all companies in that registry at the same time.
 
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