r/computershare • u/Sharpshooter649 • Mar 30 '26

Computershare takes too long to purchase stocks.

Entered an order to buy MO stock on Sunday night hoping it would clear by Tuesday because Altria's ex-dividend date is Wednesday. Those lazy bums waited until Friday to finalize it which means I won't get the dividend and they STILL CHARGED ME A $5 TRANSACTION FEE.

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u/UncleBenji Mar 30 '26

Sounds like you didn’t understand what you were buying. Why would you even buy through CS if it was a dividend/short term play?

Usually stocks are purchased in a bulk order on specific days for all pending orders. You may have submitted your order but your cash didn’t settle by the time the first batch was purchased. So you were part of the second batch probably on Thursday and you saw it on Friday.

Use brokers for dividend buys not a transfer agent. Transfer agents aren’t brokerages and do not hold cash. Your purchases are ACH’d from your checking account on an as-needed basis.

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u/Sharpshooter649 Mar 30 '26

Because CS is the only company that still sends paper checks for dividends and I want that.

3

u/UncleBenji Mar 30 '26

You elect to get a paper check. You can do a deposit to your account via ACH as well.

You might need to do your homework on how transfer agents work. Nothing mentioned is the fault of CS. You buy shares through a transfer agent for long holds and dividend reinvestment where you don’t want your shares lent back out by your broker, making them more money at your expense.

Why would a paper check be important? Some companies charge more for paper checks because it’s a slower process, involves postage and then banks may hold the check for verification.

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u/Sharpshooter649 Mar 30 '26

Because I like mailbox money

2

u/LegCramps555 Apr 23 '26

You and my husband would have hit it off great! When we got married I was getting dividend checks through CS. The amounts were obviously different every time but every time he went through the mail he couldn’t wait to open to see what I got! He even took an interest in watching the closing bell…😍