With computershare, you have to fill in the application form and nominate to receive any refund as direct deposit even if you have your bank details already set up in computershare for dividends. Commsec sends the bank account instructions to computershare when I buy shares but I still receive any SPP refund as a cheque. I can't be arsed printing out, filling in and sending off the application form for SPPs because it is easier for me just to take the refund cheque to my local post office and deposit it in my bank account.
In contrast, when I participate in a SPP with a company on the Automic share registry they automatically direct deposit any refund amount into my bank account. No mucking about with paperwork.
Thanks something to keep in mind for future SPP.
AXE Price at posting:
$1.55 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)