- Dividend reinvestment
I hold some Lloyds bank shares with a broker, and want to use my dividend to reinvest rather than take as cash – we aren’t talking big bucks by any means.
The broker does not offer a dividend reinvestment service, so I called the administrator Equiniti and tried to clarify (to a very confused woman in a foreign call centre) that I believe my only option is to transfer my shares to Equiniti who can then in turn offer the reinvestment service.
I think she finally understood what I wanted and said yes they can offer this if I transfer my shares, but looking at the reviews of Equiniti and my experience of the call centre staff, I can only see any transfer going wrong, are they the only company who can offer this reinvestment?
Thanks.Posted 3 months agofinbarMember
If you transfer your holding to HL and it’s not large, check how much the platform fees will be. Like Mactheknife, I think they are worth it for ease of use, but I did some sums to figure out which of my investments were best off there.
Do Lloyds have their own divident reinvesting scheme? I have some Santander shares that I hold paper certificates for and Santander have quite a neat dividend reinvestment scheme themselves that I use.Posted 3 months agochiefinspectorMember
Agree with mactheknife in that H&L has a great and very user friendly platform to buy & sell shares. Even the app is great.
I used to use Enquniti when i had Royal Mail shares but the website was abysmal to use and even trying to buy additional shares was a job in itself. Bestinvest are also very good and have cheaper charges than H&L.Posted 3 months ago
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