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Computershare / Seems like a scam

1 United States Review updated:

I was interested in buying stock in a public company and the company's website referred me to Computershare. I visited Computershare's site but noticed the lack of live contact ability. There was an address in Canton MA and (I think) one in RI. I started to go through the on line purchase process but then backed out as I realised I didn't know anything about this outfit. I did a Google and Yahoo search and nothing substantial came up. Also searched under Consumer reviews and only found this Complaints Board site. Asked around the office and no-one had heard of them. I saw nothing on their site, anywhere, documenting how a person's online purchase of stock with them would be documented and recorded. I emailed Computershare twice asking for someone to contact me to verify who they are and to provide some evidence of a non-Enron/Madoff/Fannie Mae profile. I have never heard a thing. Now I suspect that this outfit is tied in to DC and a bunch of corrupt politicans who are keeping them afloat because if they were truly market based they'd be more responsive and interested in new business. This one doesn't pass the sniff test and I'm staying clear of it.

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Comments

  • Mi
      4th of Aug, 2016
    +2 Votes

    Absolutely Horrible! For years..dating back before 2008 I put money into several stocks. Just wit till you try to get your money out!!
    Just horrible. Customer service in Philipines, very very poor online service. I have been on the phone and net all day. Finally through no fault of theirs I was able to make a breakthrough and was able to get to one of my accounts...which has simply been missing even though I have had it for 7yrs...
    and then it turns out that the page I need to go to supply banking info so that I can sell stock (14 day waiting period) was not available at this time.
    If you like to get really really lividly angry...to feel that you are going to blow a hose..to elevate your blood pressure and stress hormone levels...
    than these are your guys. And if you like high fees...and fees and fees..than GO FOR IT ! These are your guys...this is your company.
    Unbelievable! Truly mind blowing...And it's MY $$$$$$.
    DON'T DO IT! Steer clear of these BOZOS no one can be this inept. Oh but all the while, they have your money!

  • Ze
      3rd of Mar, 2018
    0 Votes

    @michael grosser Did you manage to get your issue resolved.

  • Wo
      15th of Sep, 2016
    +2 Votes

    My account portfolio just disappeared. The tech support said "just create a new account and your stock holdings will come back"... What's stopping another thief from doing the same thing? I hate these people and why Coca Cola, McDonalds, Intel, etc. go somewhere else is beyond me. They must like getting screwed just like the hookers down the street.

  • Jo
      18th of Sep, 2016
    +2 Votes

    They are not a scam, but their customer service is truly deplorable. For some reason, they moved the account from being in my name to a managing company for my benefit. They couldn't produce any documentation to support the action, but required me and the other company to jump through a slew of hoops including a document requiring a "guarantee" that seems extreme. After complying with all their requests, they denied it based on a couple of technicalities on the part of the other companies filling out of their form. I have talked with multiple customer service reps there to no avail. The company, Nationwide, has made numerous attempts to rectify it with them personally also to no avail. I have a dividend check from 6.29.16 that today 9.18.16 is still uncashed because it is in their name for my benefit and no end in sight. Filed a complaint with the SEC, BBB and any other alphabet soup organization I could find and haven't even gotten a phone call or email one. They suck.

  • Ld
      26th of Oct, 2016
    +2 Votes

    I too am having issues dealing with my Dad's estate and Computershare. I am trying to get my deceased dad's accounts transferred into my mom's name (of which one of the accounts she is Joint Tenant). I have provided them with a Probated Will, a Death Certificate, a Letter of Direction, new account applications and a Medallion Signature Guarantee from Canada's 4th largest bank and they are STILL refusing to make the transfer. My Dad's estate is extremely straight forward. The will (which I remind you has been probated) clearly states everything goes to my mother, she is the executrix, nothing has been contested. Her address is the same address as Dad's, which is the same address as the accounts, She is listed as Joint Tenant on one of the accounts and they still won't make the transfer. This is ridiculous! They must have clients die every day how is it possible this process isn't easier. My husband and I will NEVER have any of our holdings with Computershare again.

  • De
      17th of May, 2017
    +2 Votes

    Similar to some of the comments above, Computershare managed the Employee share plan for the company that I worked for. When I quit, neither did they send me any notification and about a year and a half later I find out that they just sold my shares and apparently sent me a cheque or something. To this day I am waiting for the cheque. I am seriously considering taking legal action! :/

  • To
      30th of Jun, 2017
    0 Votes

    ComputerShare is a scam. They starting charging me an annual maintenance fee, so I moved the shares to a broker. The transfer had a cost and disposing of the fractional shares had a cost. I ended up paying over $100 just to get the shares transferred. If I would have liquidated the shares, it would have cost even more. It also took several calls to make it happen. Their system is unstable and they are a scam company. Avoid!

  • Ve
      25th of Feb, 2018
    0 Votes

    They are slow to respond unless you have an account number. K finally got my number and after weeks I got a check under Principal, bought a car, wrote the check only to have it returned. I will be at the bank tomorrow to find out why. 2-25-18

  • Ze
      3rd of Mar, 2018
    0 Votes

    @Verle Did you mange to get your issue resolved?

  • Ev
      17th of Mar, 2018
    0 Votes

    ComputerShare is now in the trust business, in that they handle personal trust accounts. However, in my experience, they are most incompetent trust company I have ever dealt with. Our former trust company got out of the business and recommended that we transfer the handling of our investment shares to Computershare. This outfit offered the first year free of charges, so we went along with that. Big Mistake! They can't get anything right.
    It has been 6 months now and they still can't figure out how to distribute our funds on a monthly basis even though we have sent in multiple documents and had many phone calls trying to get it straight. Initially they couldn't find a consistent date by which to forward those monthly payments. We never knew when they were going to arrive. Even though we agreed on a specific date, we were pretty much guaranteed that they would always be late.
    And now it becomes almost impossible to get into my own account online to see what we hold in our various accounts. For some reason the ID number is never the same each time. So once again I can't get at my account and I have to wait until after the weekend to talk to any body about that. In my experience, that alone may take a couple of weeks.
    Frustrating operation, this ComputerShare.

  • El
      18 hrs 15 mins ago
    0 Votes

    My husband and I have spent months attempting to get funds held at Computershare.
    The have done nothing but give us the runaround with one excuse after another as to why they won't provide the funds.
    The customer service is beyond horrible and they seem to be a company that exists for the sole purpose of scamming people out of what is rightfully theirs.

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