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Ive got some cheques...from Oz...what now...
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Unfortunately, it's up to the share register as to what options they offer for any given company (presumably guided by the company themselves in terms of admin costs and overhead etc). ALU for example offered a wire transfer option alongside other choices but MCP does not, so if you don't have an AU bank account and you can't take a cheque then the DRP is your only option. So not all choices are available for all companies.
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Have been having this problem with my Amazon cheques. I wrote a few online books, and can only be paid via cheque, only place I have been able to cash them is at ASB by putting them into my foreign currency account.
Sold a few Aussie shares recently, simply because they only give out dividends by cheque. Some like COH pay direct to NZ bank, so kept those. Guess it depends on the share registry.
Can only be a matter of time before cheques dissapear everywhere, then the problem should go away
Last edited by ratkin; 25-03-2021 at 03:58 AM.
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Originally Posted by ratkin
Have been having this problem with my Amazon cheques. I wrote a few online books, and can only be paid via cheque, only place I have been able to cash them is at ASB by putting them into my foreign currency account.
Sold a few Aussie shares recently, simply because they only give out dividends by cheque. Some like COH pay direct to NZ bank, so kept those. Guess it depends on the share registry.
Can only be a matter of time before cheques dissapear everywhere, then the problem should go away
Can’t they pay you through stripe or something like that for your books ?
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Originally Posted by stoploss
Can’t they pay you through stripe or something like that for your books ?
Will look into it, but last time I checked NZ was one of the few countries where only cheque was available.
What complicates it further is that books sold by amazon india, amazon UK, Amazon USA etc, all pay seperately. So instead of just receiving One cheque you receive lots of smaller ones in different currencies from each region.
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Originally Posted by ratkin
Have been having this problem with my Amazon cheques. I wrote a few online books, and can only be paid via cheque, only place I have been able to cash them is at ASB by putting them into my foreign currency account.
Sold a few Aussie shares recently, simply because they only give out dividends by cheque. Some like COH pay direct to NZ bank, so kept those. Guess it depends on the share registry.
Can only be a matter of time before cheques dissapear everywhere, then the problem should go away
Interesting. I'd like to know how to find your books. Titles etc? Who knows! I may turn into your biggest reader/purchaser. I may even be the founder of a Ratkin fan club.
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CROESUS U.T.
Originally Posted by fungus pudding
Interesting. I'd like to know how to find your books. Titles etc? Who knows! I may turn into your biggest reader/purchaser. I may even be the founder of a Ratkin fan club.
Ratkin More than a century after their revolt and escape from the Abyssal Dwarfs, the Ratkin have become a menace that has plagued many of the civilised lands. Tales of savage beasts, arcane magics and bizarre contraptions going to war alongside hordes of chittering vermin cause fear where ever they're heard. The Ratkin are coming.
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By way of an update, ComputerShare told me that the company gets to choose what payment options it has available. I eventually got in touch with the secretary of AU.MCP who at first told me to go talk to ComputerShare, then when I pointed out that I already had, said she'd look into it and get back to me. In the meantime, despite being enrolled in the DRP, ComputerShare have sent me a cheque for my dividend. I'm still trying to find out why. It doesn't appear to be suspended. I briefly left it thinking that I'd rather have the cash, but then reenrolled when I realised that they didn't have a payment option I could use (left and returned in the same day). Possibly that's mucked it up. I have discovered that ANZ still takes cheques until 31st May so if I get no joy I will have to open an account there to deposit the cheque.
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Member
I'd expect the reason Australian companies don't do international bank transfer is because SWIFT is expensive. A wire transfer from a typical Australian bank will set you back easily $20-$40 per payment. A cheque maybe 20c.
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