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Non-Euro Dividend Payments

  • 12-11-2013 5:56am
    #1
    Logo
    Registered Users, Registered Users 2 Posts: 720 ✭✭✭


    Hi,

    Quick question - does anyone here cash or lodge a non-euro dividend cheque into an Irish bank without incurring fees?

    I ask because I'm with PTSB and the recently-introduced fees make it hardly worthwhile cashing the cheques.

    (For more see: http://www.boards.ie/vbulletin/showthread.php?t=2057080402).

    In future I plan to sell some shares/ check out dividend reinvestment plans or opt for fee-based electronic dividend payment.

    I would be interested to hear from anyone in a similar position.

    Thanks
    Logo.


Comments

  • #2
    strmin
    Registered Users, Registered Users 2 Posts: 315 ✭✭strmin


    Why not register with online broker? You would get dividends straight into your brokers account.


  • #3
    Logo
    Registered Users, Registered Users 2 Posts: 720 ✭✭✭Logo


    Thanks for the reply.

    I used to deal with a Cork brokerage company and got burnt due to fraud within the firm. I then moved to Goodbody online brokers but found their maintenance fees too high - plus I feel safer having shares in certificate form. I know I will have to interact with a broker at some stage but would prefer to keep financial transactions with brokers to a minimum

    Logo


  • #4
    Sonnenblumen
    Registered Users, Registered Users 2 Posts: 5,834 ✭✭✭Sonnenblumen


    Logo wrote: »
    Hi,

    Quick question - does anyone here cash or lodge a non-euro dividend cheque into an Irish bank without incurring fees?

    I ask because I'm with PTSB and the recently-introduced fees make it hardly worthwhile cashing the cheques.

    (For more see: http://www.boards.ie/vbulletin/showthread.php?t=2057080402).

    In future I plan to sell some shares/ check out dividend reinvestment plans or opt for fee-based electronic dividend payment.

    I would be interested to hear from anyone in a similar position.

    Thanks
    Logo.

    Lodging non-Euro cheques has always been subject to extra charges and you can expect to pay higher charges in the future. Electronic payments are also subject to charges (less than cheques but still?). If the cheques are for small amounts, it would make much more sense to opt for new shares in lieu of cash/cheque payment.


  • #5
    Logo
    Registered Users, Registered Users 2 Posts: 720 ✭✭✭Logo


    Sonnenblumen wrote: »
    Lodging non-Euro cheques has always been subject to extra charges
    Over the past ten years I haven't been charged for lodging non-euro cheques with PTSB.


  • #6
    srsly78
    Registered Users, Registered Users 2 Posts: 7,157 ✭✭✭srsly78


    The charge is effectively them giving you a bad exchange rate.


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  • #7
    Logo
    Registered Users, Registered Users 2 Posts: 720 ✭✭✭Logo


    srsly78 wrote: »
    The charge is effectively them giving you a bad exchange rate.
    The charge is effectively wiping out a dividend payment.


  • #8
    Sonnenblumen
    Registered Users, Registered Users 2 Posts: 5,834 ✭✭✭Sonnenblumen


    Logo wrote: »
    Over the past ten years I haven't been charged for lodging non-euro cheques with PTSB.

    Hidden charge = poor exchange rate! Always check the details!


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