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  1. #21
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    I have 2 australian companies IEL.ASX and OTW.ASW who will only pay dividends via an Australian Bank Account. Looking on the Link site they have no reinvestment plans and no Cheque options. Anyone else have this issue. Do I just write the dividends off?

  2. #22
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    Auckland, , New Zealand.
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    Ask for cash. That will p*** them off and they might play ball.

    Do you know anyone with a bank account in Australia?

  3. #23
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    Quote Originally Posted by 777 View Post
    Ask for cash. That will p*** them off and they might play ball.

    Do you know anyone with a bank account in Australia?
    Yeah I should do that. I dont know if this has anything to do with it but my Australian holdings lodged with Computershare all have dividend reinvestment plans and option of cheques yet the two on Link services AU give you the option of Australian bank only. I will have to go back and look at their announcements .

  4. #24
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    Jun 2013
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    How do you register a NZ bank account on Link Market Services Australia? I only see Australian bank in the dropdown:

    a.png

  5. #25

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    A simple option now is to apply for a TransferWise debit Mastercard. They provide you with a local bank account number in each currency you add to your account. You can then convert your Australian dollars to New Zealand dollars for a 0.49% fee on the mid-market exchange rate. Way better than any bank offers.

  6. #26
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    Quote Originally Posted by Citizen Erased View Post
    A simple option now is to apply for a TransferWise debit Mastercard. They provide you with a local bank account number in each currency you add to your account. You can then convert your Australian dollars to New Zealand dollars for a 0.49% fee on the mid-market exchange rate. Way better than any bank offers.
    Cool, didn't know about that. I take it once you have money in NZD, you can transfer it to a regular bank account? Or do you have to spend it via purchase transactions?

  7. #27
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    Kiwibank will not even cash low value aussie cheques anymore. From next year they will not process any cheques apparently, at least that is what the cashier told me yesterday

  8. #28
    percy
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    christchurch
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    No answers sorry.
    I take DRP when avaliable with Australian companies.
    Those that still pay by cheque I deposit with my broker Craigs, who bank it in my Australian cash management account.
    Those who neither have DRP or pay by cheque, I have huge problems with.I give the share registry my Westpac bank account number together with Swift letters and numbers [WPACNZ2W].Always a lot of hassle and takes numerous phone calls and emails.Once I have received the funds into my bank a/c,usually a month, I then sell those shares, as I can't be bothered going through it again.
    Last edited by percy; 10-09-2019 at 07:44 AM.

  9. #29
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    Quote Originally Posted by Cricketfan View Post
    Cool, didn't know about that. I take it once you have money in NZD, you can transfer it to a regular bank account? Or do you have to spend it via purchase transactions?

    Have a look here: https://transferwise.com/gb/borderless/

    possibly paying particular attention to:
    https://transferwise.com/help/17/bor...erless-account

    and

    https://transferwise.com/price-chang...erless-convert

    Disc: Starting using Transferwise after discovering them via Sharetrader but not signed up for borderless yet.
    om mani peme hum

  10. #30
    Trying to get outta here
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    Quote Originally Posted by ratkin View Post
    Kiwibank will not even cash low value aussie cheques anymore. From next year they will not process any cheques apparently, at least that is what the cashier told me yesterday
    That's correct from Feb next year Kiwibank are dead to all cheques no matter their origin.

  11. #31

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    Quote Originally Posted by Cricketfan View Post
    Cool, didn't know about that. I take it once you have money in NZD, you can transfer it to a regular bank account? Or do you have to spend it via purchase transactions?
    You can perform local bank transfers in each currency, e.g. NZD to a NZ bank account, AUD to an Australian bank account, etc. They provide you with a "virtual bank account" in each currency, with your own account number, etc, so you can send and receive local payments all around the world. You also get the equivalent of NZ$350 of free ATM withdrawals per month (in any country) using your TransferWise debit card.

  12. #32
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    Aug 2009
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    One way to minimise the problem with cashing in Aus $ dividends is:
    1, open a nominee account with asb and all Aussie Shares (and NZ shares) are held in the nominee account (annual fee of $500 - but free for me since I have margin lending account)
    2, open an Australian $ currency account with ASB and you could get all the dividends credited to this account - any hassles asb will deal with on your behalf!
    3, when required transfer NZ$ to your Australian $ currency account via OFX (cheaper than transferwise) - very easy process once you set up an account with OFX)

    4, you could utilise Aus $ account for purchasing Aus shares

    No more hassles with cashing in your dividends from Australian shares and if any issues asb will deal with it for you! Of course only applies if you deal with ASB and not sure if it will work for other currencies

    Discl- hold OFX
    Last edited by RRR; 13-09-2019 at 12:47 PM.

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