Unnecessary Waste

Definitely not another political thread.
I'm certain that I'm not the only one that has noticed this unnecessary waste of money.

Link market services didn't have my bank details for a holding that uses direct debit to pay the div. I did the right thing and updated my bank details and applied it to all holdings under my HIN with Link. They had the details on other holdings (same HIN) but don't automatically transfer them across.

A few days later I receive 23 envelopes advising me of the change for every company that I've had a holding in that uses Link, including companies with a nil holding that I sold years ago.

I thought doing business online should save time, save money and save the planet. Not so when a company still does business with an old mindset. I even rang their customer support with the idea of saving them heaps. Once I talked my way past their computer, the support staff didn't even understand why I rang, didn't have a procedure to elevate the suggestion to someone who should care.

Meanwhile, I'm here opening a pile of mail trying to avoid paper cuts and noticing that the new details are the same as the old details in most of the notices.

Ps: the same thing happened with Computershare and I rang them as well. They mentioned that I shouldn't have been getting notices on my nil holdings.

peter2 said:

... the support staff didn't even understand why I rang, ...

Click to expand...

Suggest you direct your complaint to someone at corporate level or executive level.
Lower ranks don't have the authority or responsibility to handle such things.

Definitely worse than what I would have expected!!

One company I recently purchased uses boardroomlimited.

They don't allow online updating of bank account details - or if they do 15 minutes of my searching wasn't able to find it. I could update my TFN online.

So I had to print out a bank details form and email it in.

I can't believe a share registry would force people to still submit paper forms in the internet age.