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Dividend via EFT
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Gadaffi
#11 Posted : Friday, July 06, 2012 5:52:54 PM
Rank: Member

Joined: 2/13/2011
Posts: 284
Location: Nairobi
I deposit my cheques with BBK and there is no charge regardless of which bank the chq has been drawn on. I went to cash an Equity dividend Chq at Equity and they charged me a cool 50 bob!!! I now prefer doing chq deposits at bbk
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Murenju
#12 Posted : Friday, July 06, 2012 6:27:39 PM
Rank: Member

Joined: 7/13/2006
Posts: 94
Location: Nairobi
The catch is when you encash the cheque. But if you deposit, no charge.
Knock hard and it will be opened. Ask and you will be answered. Seek and you shall find.
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Mastermind
#13 Posted : Friday, July 06, 2012 11:36:03 PM
Rank: Veteran

Joined: 1/25/2012
Posts: 1,624
Location: Langley
Layman wrote:
@Ericsson, theres no bank that has a policy of charging for depositing dividend chqs apart from KCB and maybe equity. And why should they charge anyway, kwani dividen chqs are different kinds of chqs? My bank does not charge me to deposit anything, even chqs. Meanwhile, some banks charge for receiving EFT regardless of the sources (whether share registrars, salaries, etc)...... mine doest charge to receive local inward transfers.....HuraaaaH!

Which Bank boss?

Does BBK charge to receive local inward transfers?
If you have built castles in the air, your work need not be lost; that is where they should be. Now put the foundations under them.
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Ilikeyou
#14 Posted : Saturday, July 07, 2012 8:20:17 AM
Rank: Member

Joined: 11/21/2007
Posts: 152
Location: Nairobi
I bank my cheques at Equity and I have never been charged.

Pls let us know the Equity branch that charges you to bank the cheques since I had banked in different branches so far and never go charged.
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kilbuff
#15 Posted : Saturday, July 07, 2012 9:47:22 AM
Rank: New-farer

Joined: 6/14/2012
Posts: 16
Ilikeyou wrote:
I bank my cheques at Equity and I have never been charged.

Pls let us know the Equity branch that charges you to bank the cheques since I had banked in different branches so far and never go charged.


you will never be charge to deposit the cheque and wait it to clear(T+2)but for encashment OTC they will make worth your 50/-
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murchr
#16 Posted : Monday, February 16, 2015 7:52:37 AM
Rank: Elder

Joined: 2/26/2012
Posts: 15,980
I am shopping for a new bank and i want to know who has the best deal. Am currently being charged 200/- plus 20/- for excise duty for every EFT transaction. Bankers out there...are there better deals, if yes where? Thanks in advance
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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Boris Boyka
#17 Posted : Monday, February 16, 2015 8:29:26 AM
Rank: Veteran

Joined: 11/15/2013
Posts: 1,977
Location: Here
murchr wrote:
I am shopping for a new bank and i want to know who has the best deal. Am currently being charged 200/- plus 20/- for excise duty for every EFT transaction. Bankers out there...are there better deals, if yes where? Thanks in advance

When doing EFT on that form there is a question of who to bear the cost;
a) Sender
b) Reciever
c) Share
It is the initiator of the transaction who fills it. I have known cost = 400/- for values less than 1 M. With that Murch i beleive we share the cost with the dvnd payer 200/- each. Am in same pool of coop bank. My 2 cents.
Everybody STEALS, a THIEF is one who's CAUGHT stealing something of LITTLE VALUE. !!!
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gatoho
#18 Posted : Monday, February 16, 2015 8:48:34 AM
Rank: Member

Joined: 1/1/2010
Posts: 518
Location: kandara, Murang'a
Aguytrying wrote:
Im not registered to be paid by EFT. Looks like i shouldn't.

I am and I regret as I have too many odd lots
Foresight..
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gatoho
#19 Posted : Monday, February 16, 2015 8:51:21 AM
Rank: Member

Joined: 1/1/2010
Posts: 518
Location: kandara, Murang'a
BGL wrote:
Ericsson wrote:
For those who normally receive their dividends via EFT which party normally bears the EFT Transaction charges levied by the bank.Is it the company that issues the divided cheque or the individual receiving the dividends?


I am charged Ksh.150 for receiving dividends via EFT. Infact ALL payments processed by Custody & Registrars are EFT. Including an odd lot which have been trying to dispose off since the EFT charge is much more than the value of the cheque.

I guess am royally screwed, just changed to eft and have soo many odd lots
Foresight..
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Realtreaty
#20 Posted : Monday, February 16, 2015 9:32:39 AM
Rank: Elder

Joined: 8/16/2011
Posts: 2,387
gatoho wrote:
BGL wrote:
Ericsson wrote:
For those who normally receive their dividends via EFT which party normally bears the EFT Transaction charges levied by the bank.Is it the company that issues the divided cheque or the individual receiving the dividends?


I am charged Ksh.150 for receiving dividends via EFT. Infact ALL payments processed by Custody & Registrars are EFT. Including an odd lot which have been trying to dispose off since the EFT charge is much more than the value of the cheque.

I guess am royally screwed, just changed to eft and have soo many odd lots

Laughing out loudly Laughing out loudly Laughing out loudly Laughing out loudly
There is nothing free as Mothers' milk and oxygen. Now water is sold everywhere and if you are not buying water you pay for its service(delivery)
These are services of convenience and people have invested in them, why not pay then as you would like to be paid dividend for what you have invested?
See Safaricom grow from zero to billions by offering services.
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