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ComputershareSeems like a scam

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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.

Responses

  • Ma
    Marilyn Silva Jul 28, 2020
    This comment was posted by
    a verified customer
    Verified customer

    My mother died 3 years ago and was unable to find the certificates for her shares. 3 years of unreasonable time frames and arbitrary documentation and new same documentation with new dates on them I have quit trying. I will seek help from the State and Fraud services. If you buy from them be very weary.

    -1 Votes
  • An
    Andy Gryc Feb 20, 2020
    This comment was posted by
    a verified customer
    Verified customer

    I cannot express how much I hate Computershare.

    I had BlackBerry shares when I was employee there, and I've been trying for months to sell them. (I have been trying to sell them for 8 months now.) They started by requiring me to get a "Medallion Seal" on my paperwork which require me to send a bunch of paperwork to my bank, back to me, then to them. I waited for weeks for a response, and heard silence. When I followed up, they then tell me that it was sent to the wrong place and they don't have my paperwork anymore so I needed to start over. If they knew it was sent to the wrong place, they must have gotten it. Customer service? I think their model is screw the customer, since they could have kept it, they could have forwarded it yourself, they could have notified me. Anything really except sit on their hands and throw the paperwork in the trash.

    I have been trying over and over to get my shares out, and complicating that is that they seem to require physical paper copies for everything. At every step of the process, they either tell me "wrong" information, send me to the wrong department, or find another reason to refuse to get my shares out. At one point they told me that I wasn't allowed to get out my shares by myself and then subsequently they told my financial agent that they couldn't release the shares to them because I haven't given an approval for the release. [censored].

    Needless to say in all the back and forth, the stock continues to drop. They're costing me money every day by being completely incompetent or outright crooks - I can't tell which. Probably both. I'm working with my agent and they cannot believe it either. I think their primary function is to keep shares until their "customers" give up and they profit.

    I will avoid this company at all costs. I will tell as many people to avoid this company as I can. I will refuse to get stock from any company that uses them as their holding agent. It would not surprise me at all to find out that they are a sham company who's main purpose is money laundering and/or that they have an inside man at the SEC that is preventing them from being investigated.

    0 Votes
  • Ro
    Robert Fine Sep 15, 2019
    This comment was posted by
    a verified customer
    Verified customer

    Absolutely a horrible company, the worst I have ever dealt with. The criteria for working there must be to be rude and unfeeling when you are going through death and distribution of funds. They are most unfeeling and unhelpful. Fortunately Family and Friends and friends of friends and their friends will not be affected as I will make it a point of telling every person I meet of this terrible experience. MAKE NO INVESTMENTS WITH THIS COMPANY!

    0 Votes
  • Ds
    dsmlcfc Aug 21, 2018

    I needed to get unclaimed funds put in my that were issued to a deceased relative. In calling the company to get a name change on unclaimed money the automatic system would not give an option to get the check changed into another name and would not give an option to speak to a real person. I sent documentation to the ComputerShare that would officially confirm the name change was legitimate after choosing to reissue the check through the automated system. The check arrived with 5-7 business days in which I returned it with the cover letter from the documentation and received a check in the correct name with 5-7 business days. I read ComputerShare reviews and found most were unfavorable reviews but my experience has been favorable with the quick response to the issue.

    1 Votes
  • Jo
    Joel Monkarsh Jun 13, 2018
    This comment was posted by
    a verified customer
    Verified customer

    I ended up with Computershare when AT&T and Baby Bells ended with them. Computershare is not quite a scam and I emphasize "not quite". It took the SEC over a year to get my shares in several companies transferred away from them. Part of the problem is that they have multiple offices and it is a major problem getting the correct office to do the correct thing. Moreover, they charge for everything imaginable, stuff a normal brokerage or transfer agency would not have the chutzpah to charge for. Add to your grief is their questionable customer service. This can result in many thousands of dollars in fees and hundreds of dollars in postage and hundreds of hours in writing correspondence to get your stocks out of their hands. If I there was a grade below F, they earned that grade when I used them. Although the behavior of Computershare is not illegal, my advice would be transfer everything to Charles Schwab or TD Ameritrade.

    0 Votes
  • El
    Elaine Means May 25, 2018
    This comment was posted by
    a verified customer
    Verified customer

    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.

    1 Votes
  • Ev
    Evan Bret Mar 17, 2018

    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.

    0 Votes
  • Ve
    Verle Feb 25, 2018
    This comment was posted by
    a verified customer
    Verified customer

    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

    0 Votes
  • Ze
    Zerosumgame Mar 03, 2018

    @Verle Did you mange to get your issue resolved?

    0 Votes
  • To
    TonyP1234 Jun 30, 2017

    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!

    0 Votes
  • De
    devilsneer May 17, 2017

    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! :/

    2 Votes
  • Ld
    ldoyle Oct 26, 2016

    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.

    2 Votes
  • Jo
    Jody Plus Christina Cox Sep 18, 2016
    This comment was posted by
    a verified customer
    Verified customer

    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.

    2 Votes
  • Wo
    WoodYaBlowme Sep 15, 2016
    This comment was posted by
    a verified customer
    Verified customer

    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.

    2 Votes
  • Mi
    michael grosser Aug 04, 2016
    This comment was posted by
    a verified customer
    Verified customer

    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!

    2 Votes
  • Ze
    Zerosumgame Mar 03, 2018

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

    0 Votes
  • Ol
    Ollie Woodard Jul 21, 2016
    This comment was posted by
    a verified customer
    Verified customer

    Recived a notice from Computershare that my 250 shares of a local MA company were in danger of being confiscated by the state as unclaimed property. After reading all the above horror stories, I am hesitant to respond. I am contacting the company directly to ask for advise.

    1 Votes
  • Ze
    Zeroforsome Mar 03, 2018

    @Ollie Woodard This company thrieves on providing "kiss [censor]" business to gov. departments. Did you manage to get your issue resolved.

    0 Votes
  • Sh
    Shares2nobalance Jul 12, 2016

    Computershare is a SCAM at the highest level - BEWARE of not having your shares bought - they said my balance is $0.00 and that maybe since I had contributed to this and that the annual fee is $35.00 (which I was never told before - and my statement does not show any charges of annual fees ? ) I talked with serveral reps today and all they wanted to do is have me read off the statement I have and than they gave me the runaround with charges of what it would cost me to retrieve the needed information in seeing that my account is now $0.00 - so they want to charge me $25.00 processing fee with than fees per page of information - she said because she could not retrieve any information from my file to see if she could properly identify me - What ? So they are charging me this amount because they don't have correct up-to-date information - on an account that has a $0.00 balance - What or where do I go or call in seeing if I can get justice ? I don't think this should be legal to charge someone without notice - If anyone is reading this and has information they want to provide to help me - Thank you

    1 Votes
  • Ze
    Zeroforsome Mar 03, 2018

    @Shares2nobalance These people are ripping off the small guy...did you manage to get your issue resolved.

    0 Votes
  • Li
    liza tannehill Jul 12, 2016
    This comment was posted by
    a verified customer
    Verified customer

    I just sold some stocks. I was able to log in until a few minutes ago. I have the same message that you received. They will mail me my new password to my postal address. That is very odd considering our technology today. I was wondering if you resolved your issues.

    2 Votes
  • Fr
    Frustrated89992 Jul 12, 2016

    I have been attempting to work with my former companies employee stock information, but this company keeps telling me I have to wait 5 days to mail a new code, though my password was accurate. Then once this is done, for the 3rd time, then their site just "grinds" and doesn't allow you access. They are scammers. Strongly recommend you use another company I NEVER had these problems with Fidelity. And I am trying to get away from this company without losing everything, but it isn't looking hopeful!

    2 Votes
  • Ze
    Zeroforsome Mar 03, 2018

    @Frustrated89992 Have you managed to get your problen resolved.

    0 Votes
  • No
    Nooneatall Jul 06, 2016

    Agree 10000% with the person who said they're horrible in the event of a death. I'm my dad's executor and they are doing exactly what he said...burying me in requests for more documents. Often the same ones multiple times. Either their heads are fully up their @sses or they're the evil spawn of Satan. AVOID.

    3 Votes
  • Ji
    Jimbojr Apr 12, 2016
    This comment was posted by
    a verified customer
    Verified customer

    They are a real company, simply uncaring about providing good customer service or having an easy to navigate web site. Wells Fargo offers a similar service that is much more straight forward, you can find them here: https://www.shareowneronline.com/UserManagement/WFIndex.aspx

    0 Votes
  • Vc
    vch123 Mar 29, 2016
    This comment was posted by
    a verified customer
    Verified customer

    COMPUTER SHARES is a total pick your pocket scam.
    On 3/29/16, after working for nearly 2 years to SELL DOW STOCK since my moms death, here is what they say: COMPUTER SHARES WANTS TO CHARGE US$539.54 to cover losses they might have for sending shares held in certificate form, but they have no record for where shares were allegedly mailed from or what address to, because they acquired the business from another company that doesn’t have the information.
    1. They rely on regular non tracked mail, to send out certificate shares
    2. They don’t follow up to ensure they’re received or do any confirmation of receipts for shares
    3. They use regular mail and document all the details
    4. I asked LORUNNA BONAOBRA, SUPERVISOR OF COMPUTER SHARES MANILLA DIVISION, she said that BNY bank used to do this mailing, but COMPUTER SHARES acquired the stock services portion and all their records of where and to addresses, were unavailable since the purchase
    5. I explained, do one of the following
    a. PROVIDE PROOF OF DELIVERY, FROM AND WHAT ADDRESS TO, they were allegedly mailed to
    b. PROVIDE CONFIRMATION, that your regular mail was received and confirmed to be received by the recipient that you allege had been sent to on 12/28/2001
    c. No tracking, no follow up, regular mail and you use a 3rd party SURETY COMPANY to ensure THEY ARE covered in the event of a loss. But, the recipient, that doesn't matter. They charge you to protect them, and do no follow ups or confirmation that you've received the shares. They don’t know where they were mailed to, no proof and no idea where they went to (because they acquired the business from BNY).
    d. You charge 3% of the stock fair value, to insure these certificates that are mailed with regular mail & no confirmation steps taken but we are free to hire our own surety agency to ensure the loss of your mishandling the stock certificates which you don’t have and don’t know where they went to
    e. You are not dow chemical, realize that we never contracted with you to do any of these transactions, but you’re holding these stock shares that are the property of dow chemical who we did business with, and assigned all rights to these shares to another party without our consent, and then you bought another company that you didn’t get the detail from.
    6. Lorunna Bonaobra, supervisor at Manilla, promised to have ANNA HORCA, manager call me by 3/30/16 by 3.30pm central time.
    7. None of the information we discussed, can be emailed or faxed, because of the security risk, it can be only mailed in the regular mail, for which no confirmation can be made to determine they sent it to the correct address or the recipient received the mail and the postage was sufficient to be accepted by the post office.
    8. Lorunna Bonaobra reports to Team Manager John Soriano, who reports to Anna Horca center manager.
    9. Also, ED LUTAEO, manilla customer service rep, stated, that DOW SHARES cannot be sold in their form of being held in a trust. Ed stated, they can only be transferred to A THIRD PARTY, i.e. myself, at no charge, but will not be done so, until they receive $80 plus 3% of the fair value of all Dow shares held in certificate form (300 shares) before they will agree to transfer any shares.
    10. I mentioned the following
    a. Please show me where I have a contract, or my mother had a contract with Computershares
    b. Please show where we agreed to allow you to transfer these stock shares to someone that we have no relationship with
    c. Please explain that Dow Chemical will stand behind these aggregious behavior and make this right.
    11. Please explain if DOW CHEMICAL is aware, that COMPUTERSHARES IS unavailable, cannot do business in writing, does not own the shares it is dow chemical that owns them, and very difficult to do business with this company.
    APPARENTLY, they contract with LIBERTY INSURANCE, for their surety insurance in case anything goes wrong. This is only to protect COMPUTERSHARES, and if you file lost shares, THEY CHARGE YOU 3%+$80 PROCESSING FEE.
    I'm going to contact the DOW audit committee, external audit firm regarding internal control deficiencies, but also executive management, because we never contracted with COMPUTERSHARES we did business with DOW.

    1 Votes
  • Ze
    Zeroforsome Mar 03, 2018

    @vch123 Did you manage to get your problem solved.

    0 Votes
  • Vi
    Vikingsfan Mar 07, 2016

    Oshkosh uses these crooks for employee stock purchases as well.. Everything seems fine until you want to sell and that's when they really stick it to you. Aside from that, there is a $35 dollar fee to withdraw money via check/wire and I paid about $100+ in fees selling $1000 worth of shares that took 3-4 days after I sold them to finally go through. That's outrageous and also your dividends get fees as well. For the $1.53 I got in dividends $1 was charged in fees Thanks Computer Share you really know how to f$#k me when I try to leave you!!

    3 Votes
  • Jo
    Joel Monkarsh Feb 22, 2016
    This comment was posted by
    a verified customer
    Verified customer

    Next to no customer service, most correspondence sent to incorrect addresses, website which is mostly non-functional, truncated accounting statements.

    1 Votes
  • Ze
    Zeroforsome Mar 03, 2018

    @Joel Monkarsh Are these deliberate errors?

    0 Votes
  • Jo
    Joel Monkarsh Feb 22, 2016
    This comment was posted by
    a verified customer
    Verified customer

    Based on Computershare's inability to send most correspondence to the proper address, truncated account statements, fees without any real service, and delays in transferring stock, useless website and next to nonexistent customer service, I would avoid using them.

    1 Votes
  • Ro
    Ron Todd Jan 23, 2016
    This comment was posted by
    a verified customer
    Verified customer

    I had shares from a company share scheme. The scheme was run by computershare. When we got made redundant everybody else got their shares in a few days, when the price was 55 - 60p a share. My shares did not arrive a contacted them was told wait 28 days after; 28 days a contacted them again was told I would get then in 10 days after ten days I was told two weeks, eventually I got them 5 months after everybody else with no explanation other than 'unexplained error' By that time the shares had lost half their value and were well below the price I had intended to sell at.They offered £150 compensation (the cheque had 'UK Errors' printed on it) less that the fall in the value of the shares since their last promise to deliver them.

    1 Votes
  • Ze
    Zeroforsome Mar 03, 2018

    @Ron Todd Is it possible that others did not receive their shares promply as well.

    0 Votes
  • Fr
    fress Jan 05, 2016

    I agree this company is the worst. They request personal information (phone numbers, SSN ...), but can not provide any information about your account or money they are holding in your name. My old company was sold and Computershare are being the transfer agent. I assume the money from the sale of these stock will never be recovered from Computershares. They are terrible. Don't use them. I am losing $3000 on this matter.

    2 Votes
  • Me
    MeInTN Dec 04, 2015
    This comment was posted by
    a verified customer
    Verified customer

    I have been trying for 5 months to remove my dead husband's name from our joint account and sell the stock (worth only about $1k). I have sent letters, filled out forms, talked (with difficulty) to them on the phone. Each time they say I have to fill out another form. I have had forms notarized; I have sent the death certificate; I have sent the obituary; I have sent affidavit of domicile and heaven knows what else. I have never encountered such poor service in my life. Did I forget to mention that I've already sent them more than $80? If they ever get around to selling my stock, they'll collect another $15 or so. This has to be the worst company ever.

    3 Votes
  • Yo
    Yonkers, NY Nov 28, 2015

    Had purchased 1 share of Ford Motor Company and a Certificate about 10 years ago. Upon her Death this past year I found the stock in the bottom of my safe & tried to find the transfer agent. I was told it had been transferred to Computershare. So I contracted the CIS company. They told me as of March 2014 my wife share had been TRANSFERRED TO THE STATE OF VA UNCLAIMED PROPERTY division because she had not cashed her Dividend checks from Ford in 2014 ! ( My wife suffered from Cancer this year and passed in February of this year) Needless to say, this company CAN and will transfer your property to the STATE UNCLAIMED service bureaus if you do not comply with their request by mail. Am sure my wife with Cancer Stage IV was much to sick to comply with this companies silly demands.. To make a Long story short, went through a 7 month retrieval process through the State Of Virginia Dept of Treasury, had to submit Death Certificate, Marriage Certificate, Adminstration Certificate and then they sent me a ceck for $ 1.25. Now they tell me that my wife's one share had a cost basis of 14.04 and THEY ELECTED TO SELL IT IN OCTOBER of 2015. for which they charged me a commission fee of $15.00 essentially wiping out my wife's share of the Ford Motor company and they invite me to buy more shares through them at a cost of $15.00 per transaction fee. HEll I own 10, 000 shares of Ford Motor company and my cost to buy 100 shares is only $9.95 WTH would I ever use this company. ( The only reason I was interested in the 1 shares was to pass it on to my nephew.. But Computershare took that share from me ..and distributed the proceeds without EVEN CONSULTING the owner..

    WoodinVirginia... Ford - get rid of this company they do UNJUST things to shareholders..

    -1 Votes
  • Va
    Van Fleet Nov 13, 2015

    One of the tricks with this company is: Fractional Shares. They claim one can only transfer WHOLE shares to, say, a broker. So, a fractional share is left in your account. You then instruct them to sell this fractional share - the commission they then charge can be as high as $25.00 + 12c per share. They do not inform you that they have at least 2 levels of commission...guess what.. you have to MAIL in instructions in order to get the lower rate (batch fee) to sell online or by phone incurs the higher rate ($25) This means that commission fees can be 60% or even 70% on quite a small sum!
    Just glad I made a full transfer out of this company...I will never deal with them again!

    1 Votes
  • Li
    liza tannehill Oct 28, 2015
    This comment was posted by
    a verified customer
    Verified customer

    I just got locked out of my account for typing in the wrong password although I am sure that I had the right one. I wanted to see how they resolved your login issues. I need to know because I have a sale awaiting settlement. I hope that this is not a delaying tactic.

    0 Votes
  • Ma
    Malikant Oct 01, 2015

    I have had Computershare for keeping stock I bought while working for the same company. I have been getting quarterly statements regularly from the for at least 15 years but never sold any stock from the website. I tried to access my account on a new iPad and the website kept sending me E-mails warning me that my account was being accessed by a computer it was not familiar with. Then it shut down the function that allows me to sell on the drop down list. I called several times ar the 800 number and the first rep directed me to the company that the stock was issued for and of course this was no help. The second rep I called told me I would have reset my account but I don't want to have to reset my login everytime I use a different computer to access the website so I called in my order on the phone which still hasn't transacted yet. Since when do online brokers shut you down for accessing your account on a different computer? That's rediculous. I don't think this site is a scam but I do think they are a low cost for the company's issuing the stock because they are incompetent.

    2 Votes
  • Bi
    bill 2015 Aug 27, 2015
    This comment was posted by
    a verified customer
    Verified customer

    If you're lucky enough to ever get through to them on the phone, good luck with trying to understand them!! Too bad we ship all of our customer service departments to India or other countries. If they talked so you could understand them, that'd be a bonus. I've had it with them. They screwed up one too many times, and cost me a bundle. My advice: Steer clear! Go with Scottrade, Schwab, Vanguard, or some other good company. They can all reinvest the dividends and you can understand them.

    1 Votes
  • Lu
    luluc Aug 08, 2015

    ComputerShare is a total scam. It stole $5000 worth of my stock and and now lost all record of it despite my proof sent in via certified mail. Then CS will freeze your online access and no longer communicate with you, Steer clear from this Scam company.

    1 Votes
  • Ze
    Zerosumgame Mar 03, 2018

    @luluc Did you manage to get your money back.

    0 Votes
  • Ja
    JanetMP Jul 07, 2015

    Southern Co. PLEASE DUMP COMPUTERSHARE
    My family has owned Southern Co stock for 40 years. I used their website to buy, sell and transfer stock at will - never had a glitch. Then they changed to Computershare. Seven months ago I began trying to open an account for a new grandson. It has been a NIGHTMARE in the first degree. As a way to identify yourself they list a series of ridiculous questions, and you guess at the answer they are seeking. I have a son named Peyton Andrew. He is called Peyton, signs Peyton and has never used Andrew except for a middle initial. One of the questions they asked "Was Andrew born between 1960 and 1967? PEYTON was born during that period, I sat and pondered over the question and decided it deserved a 'does not apply' answer since our son was known as Peyton and not Andrew. Well as soon as I clicked that answer, the page shut down and displayed at prompt saying something to the effect that I could not continue to process my order online and paper work would be sent to the address on my account to complete the transaction. I will even attempt to list the frustrations that have occurred since that time. After reading this board, it is clear that my experience will not get the attention of Computershare nor of Southern Co. I will now seek to find another stock to purchase for my new grandson.

    0 Votes
  • No
    NolaGurl May 15, 2015
    This comment was posted by
    a verified customer
    Verified customer

    I just found this site, and for years I have despised Computershare. I inherited stocks from my late husband from companies that had chosen Computershare as their transfer agent. Suffice to say that dealing with this company was an absolute nightmare! It is the most negligent and corrupt organization employed with mind-numbingly incompetent ###s. Computershare never transferred the stocks to me after my attorney sent in the estate documents and all of the other paperwork required to satisfy the arcane procedures regarding stock transfers. Despite repeated attempts calling and speaking with idiots, resubmitting the same documentation over and over, Computershare only transferred one of the seven stock accounts into my name. More attempts and frustration ensued. When the one company's stock that they had transferred was bought by another company and I was told to send in the certificate for a replacement (which I did by certified mail and got a receipt), I never received the new certificate. Again and again, I sent correspondence regarding this and the other accounts they still had not transferred to my name, and again and again I was sent a form letter for replacement of lost certificate and was instructed to pay a large bond and processing fees. They had the certificate, so why should I pay to replace a certificate that wasn't missing?! When I got remarried and submitted documentation (numerous times) for name change, Computershare never complied. I spent years trying to get these jerks to do their job. All in all, it took SEVEN years for this negligent company just to transfer the other 6 stock accounts to me but only after intervention and assistance from my investment broker's legal department. By this time (2009) two of the stock accounts that contained hundreds of shares had tanked drastically in value so I lost tens of thousands of dollars during the time that Computershare screwed around and failed to transfer the stocks into my name. I immediately had the stocks transferred away from Computershare to my investment account and vowed never to deal with Computershare again. It is disheartening to discover that more and more corporations are using Computershare's "services" and the shareholder does not have a choice. This is especially so because I recently received a notice about a stock owned by my late husband that has been dormant, and now I am being instructed to claim my assets through Computershare. I think I will just wait the years until they send the assets to the unclaimed property division of my state where it is easier (and free) to claim your property, which is what I finally did with all of the money from the dividend checks that could not be negotiated during the seven year period that Computershare held my stocks hostage.

    3 Votes
  • Ze
    Zerosumgame Mar 03, 2018

    @NolaGurl There are endless complaints and nothing has changed. Are there still unresolved issues from your side.

    0 Votes
  • Ec
    ECSurfer Feb 26, 2015
    This comment was posted by
    a verified customer
    Verified customer

    Just stumbled on this site today and am not surprised to hear there are others who despise Computershare as much as me.

    I've been an active DRIP trader in several stocks since 2003. I've used just about every transfer agent out there and Computershare is BY FAR the WORST. Not only is their customer service (if you can even call it that) essentially non-existent. But their website is a hack and full of bugs. For example, and this has happened many times, I will make a purchase online in my individual account but the shares will appear a few days later in my joint account! Come on, seriously?! This is an agency controlling hundreds of millions of dollars and they can't even keep the accounts straight! SCARY!!!

    In September of 2013 I decided to make a serious effort to contact them about fixing this blatant bug on their website. After many hours and days on the phone fighting my way through their Filipino call center, where hardly anybody speaks English and all are devoid of critical thinking and logical deduction, I decided to change tactics. I made a formal email complaint with the Investor Services department at one of the stocks I hold at Computershare, in this case it was Health Care REIT. The very next day I received an email response from Computershare.

    I received a response from:
    Judy Hsu
    Vice President > Relationship Management
    Computershare
    300 Galleria Parkway
    Suite 1020
    Atlanta, GA. 30339
    T +[protected]
    C +[protected]
    F +[protected]

    I immediately began an email correspondence with her and she agreed to getting the website bug resolved. As I'm sure you guessed, after 1.5 years and dozens of emails back and forth with Judy, Computershare has STILL NOT FIXED this bug on their website. I just emailed her again today.

    Another discouraging trend is that more and more companies are moving their transfer agent needs to Computershare - likely lured over by reduced costs. And Computershare is buying the few remaining reliable transfer agents. (Apparently a company can become quite cash rich by cutting costs in every aspect of their business and ripping off their customers with absurd fees.) The latest acquisition victim was Registrar Transfer & Trust Co. All of the accounts I held there are now at Computershare through no choice of my own! Nightmare!

    But there is a solution!
    If enough people complain we can make a difference. We can either get Computershare to fix their website and customer service and remove their stupid fees. Or, we can persuade companies to leave Computershare and move to another transfer agent. In my 12 years experience dealing with transfer agent, the best, hands down, is Wells Fargo Shareowner Services.

    I am more in favor of option 2 and ridding my life of Computershare forever. I am asking everyone who has commented to this post to contact the Investor Relations department at each stock they own that is held at Computershare. Explain to them how HORRIBLE Computershare is and that you will no longer invest in their company unless they switch to Wells Fargo. Include a link to all of these posts so they can read for themselves.

    If you would like to vent your frustrations with Computershare or need a question answered - go ahead and contact Judy Hsu above! Maybe if we fill her email inbox and voicemail inbox with enough complaints something will be done, but very doubtful, right?

    Never Give Up!

    1 Votes
  • Ze
    Zerosumgame Mar 03, 2018

    @ECSurfer There seems to be endless complaints and no solutions have been forth coming. Did you manage to get your issue resolved.

    0 Votes
  • Za
    Zanthus Feb 25, 2015

    I too, have a story of woe in dealing with computershare.

    I acquired some shares through a staff acquisition program, and so they sat for a few years accumulating. Upon leaving my employer, i contacted computershare and they said i needed to create an online account before anything could happen. I did this, but the online setup insisted the password had to be sent to my work email, that the company had registered with them - an email address i can no longer access as I've left said company. Anyway, I had to ring the UK (from Australia) to get the account opened. I went to log in some 3 - 4 weeks later once i received my holding statement from them in the mail, with the intention of selling my shares. However, my account had been deleted, despite receiving the holing update (my address changed when i changed jobs, so i knew that had worked!). Anyway, i still haven't managed to sell the shares, and like everyone else, attempts to speak to anyone have been met with utter frustration at the blinding incompetence on the other end. Their phone and internet faq systems spiral into repeating loops, which make them utterly hopeless. Most of my friends are professionals, and like me hold a broad range of shares. I will be very strongly encouraging them to run a mile if the name computershare comes up.

    1 Votes
  • Bi
    Bill EVANS Feb 14, 2015

    I have recently written to this company after the death of my brother in law who had shares held by Computershare (Jersey)Ltd. Although the share value is only £300 they advised that there was an oustanding payment due of £50. It might still seem worthwhile but then they stated that if the estate was below £10k formalities could be dispensed with by applying for a Jersey Grant of Probate. I then had two options. 1/ If i applied for a Grant of Representation I would need to send the original Grant bearing the impressed seal of the court or a certified copy. The certified copy needs to be stamped and certified in ink by a solicitor. Also, their Statutory Declaration also needed to be completed by the Executors and also verified by a solicitor and a £47.50 fee. Their second option was equally impossible and required the payment of a £128 fee. This is totally absurd for a £300 investment! I can only conclude that this company does not want to release these funds and is putting as many barriers in the way to prevent the release of these funds. I have dealt with other companies with far larger sums of invested money and had not had to jump through so many hoops while balancing a pint glass on my head! I will not be proceeding any further with this and certainly will not be investing any of my own hard earned cash with this company. That is unless I am proved wrong, in which case I will gladly write to correct the above observations.

    3 Votes
  • Ze
    Zerosumgame Mar 03, 2018

    @Bill EVANS You are absolutely correct about them...did you ever manage to get your issue resolved.

    0 Votes
  • Jp
    JPinTX Jan 12, 2015
    This comment was posted by
    a verified customer
    Verified customer

    Computershare is difficult at best to work with. That said it is a very cheap way to accumulate stocks with small investments over time. Certainly should not think of this company as a brokerage, nor use them with the idea of selling until you want to move out of a position as you have no timing and the cost will be 2-3 times what you would pay your online broker to sell.
    Most surprising is the lack of current software interface to Quicken or even a functional onboard software. I am curious, what US government agency would control them? The SEC?
    If so I bet there are a lot of complaints

    3 Votes
  • On
    One Time Complainer Jan 01, 2015

    I just received a "Form W-9 Request for Taxpayer Identification Number and Certification". Needless to say, I've never had an account with this company, despite their threats that my "account may be subject to backup withholding at the applicable tax rate on all dividends and sale proceeds" and various other faux legal language.

    It's too obviously a SCAM to do anything but trash it. I just checked online to see if the DoJ or FBI were collecting information on them. Obviously, these people need to be shut down pronto.

    0 Votes

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