Equiniti - Do Not Use!

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BrooklynnMunro's review of Equiniti

“Equiniti - Do Not Use!”

★☆☆☆☆

written by BrooklynnMunro on 29/05/2014

I needed to sell shares to fund a house purchase. Spoke to an agent on the telephone who said I should go on line, the trade goes through straight away, and money would be sent to my account. The funds were needed for 21st May 2014, I traded on 16th May, and at the end of transaction I was told they could not send money through bacs, and it would have to be a cheque, (by this time you are unable to cancel your transaction). Crest form sent to me by 2nd class post to sign and return with certificates which I did same day via special delivery on 22nd May with complaints letter. I received on 24th acknowledgement concerning complaint 1st class post, but still no cheque! I have made several phone calls to company and was told contradictory information by two different operators, one said all mail sent out 2nd class, another said 1st class, their booklet indicates all mail will be sent out 1st class. It is now the 29th May, I received my surplus shares certificate yesterday 1st class post, and am waiting to see if my cheque arrives today. Our house purchase should have completed on 23rd May and so you can see our problem DO NOT USE THIS COMPANY - I am dealing with someone in Equiniti complaints department - but it's a little too late. Needless to say I will be pursuing compensation!

Note to company - outline procedure to customers who wish to sell shares, a layman selling for the first time will not understand the jargon or steps required to selling.

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