Discontinuation of checks accepted at NZ Banks

[Yoda]

So I called a ASB Securities and they said the bank will be discontinuing accepting cheques later this year. They acknowledge that Australian dividends up pay to us in New Zealand with checks usually. Recently I had one company tell me they will only pay into on Australian bank and were not issuing checks. I do not have on Australian bank account . Am I the only one that says that problem here?

[arekaywhy]

uuuh, yeah that is a problem

[silu]

fwiw Jarden Direct accepts cheques and hopefully continue to do so. Otherwise we have a problem.

[percy]

Where possible I have taken DRP dividend reinvestment plans.
Other wise good luck.With my NZ Westpac a/c the BSB/Bank & Branch/Sort code/ABA/ SWIF code is WPACNZ2W then my bank a/c number.So it can be paid by an Australian bank.
In the past dealing with Aussie share registers, it has taken me 2 emails 2 phone calls and about a month to get those who no longer issue cheques to pay me.

[airedale]

The ANZ bank have said that they will continue to cash cheques from Aus, Canada, UK and US until further notice beyond the NZ date for NZ banks

[SBQ]

Why can't the dividends be directly deposited in the brokerage account where the shares are held? That's how it's done in N. America where issuing checks is still alive and well (and offers the lowest cost transaction). If I want to spend the dividends, I would THEN do an online transfer from the brokerage account -> to my bank account (day to day transactions).

Seems so 80s like for corporations issuing dividend payments via 'check in the mail'.

[artemis]

TSB have no plans to stop issuing chequebooks and accepting cheques. So they told me earlier this year. Good for them, hope they pick up some business.

[fungus pudding]

TSB have no plans to stop issuing chequebooks and accepting cheques. So they told me earlier this year. Good for them, hope they pick up some business.

https://www.tsb.co.nz/cheques

[Snow Leopard]

I seem to periodically be posting this

Sign up to Wise.com ( which woz Transferwise ) and you can create, amongst others, an Australian bank account, to have your Oz dividends paid into:

https://wise.com/nz/multi-currency-a...ge-bankdetails

In the olden days when we were allowed to roam the world ( and when I got stuck in the UK ) I used it a lot.

PS: You don't need to get the Master Card debitty thing.

[DarkHorse]

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