Link Market Services

[fastbike]

LMS (about to be rebranded as MFUG) have one of the most useless websites I've ever been forced to use (apart from Westpac and BNZ banking, but that's another story).

I purchased some IFT350 Bonds which pay quarterly and I want the payments from those to accumulate into an on call account so the money accumulates rather than being spent via our current account.
LMS provides an option to select an holding and update the payment instructions.

First problem - it applies to the issuer not the holding, so changing it means my IFT dividends will also be diverted. I can work around that as the divs are only twice a year so I'll just transfer a payment back to the current account from the on call when the div arrives.

The bigger problem is that despite appearing to offer an option to update a single holding, clicking the "Confirm" button changed payment instructions for all 20 of my holdings !

FFS, after the Crowdstrike fiasco, you've got to ask is any of this garbage actually tested ?

[kiwikeith]

LMS (about to be rebranded as MFUG) have one of the most useless websites I've ever been forced to use (apart from Westpac and BNZ banking, but that's another story).

I purchased some IFT350 Bonds which pay quarterly and I want the payments from those to accumulate into an on call account so the money accumulates rather than being spent via our current account.
LMS provides an option to select an holding and update the payment instructions.

First problem - it applies to the issuer not the holding, so changing it means my IFT dividends will also be diverted. I can work around that as the divs are only twice a year so I'll just transfer a payment back to the current account from the on call when the div arrives.

The bigger problem is that despite appearing to offer an option to update a single holding, clicking the "Confirm" button changed payment instructions for all 20 of my holdings !

FFS, after the Crowdstrike fiasco, you've got to ask is any of this garbage actually tested ?

Try meditation. This is a problem for someone who does not have many problems. You are not losing any money - just a bit of inconvenience. I am pretty sure when you are lying on your deathbed you will not be wondering why Link could not have had a more flexible banking system. Meanwhile other people are deciding between turning the heater on and buying groceries.

[fastbike]

...why Link could not have had a more flexible banking system.
eh ? Link Market Services are a share register not a bank. So their system should actually be providing a share register service.
Unfortunately there seems to be only two firms used in NZ leading to monopolistic can't-give-a-**** behaviour while charging outrageous fees for mediocre service.


deciding between turning the heater on and buying groceries
That is a different symptom of a similar problem caused by more rent seeking monopolist behaviour by the supermarkets and the foobar'd electricity system.

[kiwikeith]

eh ? Link Market Services are a share register not a bank. So their system should actually be providing a share register service.
Unfortunately there seems to be only two firms used in NZ leading to monopolistic can't-give-a-**** behaviour while charging outrageous fees for mediocre service.



Hey, if you are going to be pedantic, get your facts right. Link is not a share register. A share register is a list of the shareholders in a company. Link is a share registry. (Note for your pedantic mind. I use the word 'is' and not 'are' as Link is only one company not two or more. Your grammar, like your vocabulary, needs some work.) And, in any case, I never suggested Link was a bank - it just seemed Link's banking arrangements were not flexible enough for your demands.

[Snoopy]

LMS (about to be rebranded as MFUG) have one of the most useless websites I've ever been forced to use (apart from Westpac and BNZ banking, but that's another story).

I purchased some IFT350 Bonds which pay quarterly and I want the payments from those to accumulate into an on call account so the money accumulates rather than being spent via our current account.
LMS provides an option to select an holding and update the payment instructions.

First problem - it applies to the issuer not the holding, so changing it means my IFT dividends will also be diverted. I can work around that as the divs are only twice a year so I'll just transfer a payment back to the current account from the on call when the div arrives.

The bigger problem is that despite appearing to offer an option to update a single holding, clicking the "Confirm" button changed payment instructions for all 20 of my holdings !


I think the answer fastbike is to create, or ask Link to create, a new CSN number that only holds your IFT350 bonds (you area allowed to have more than one CSN number. I have two myself). That way you can change your payment instructions for 'IFT350 bonds' , while leaving all of your other payment instructions intact.

SNOOPY

[Bjauck]

Hey, if you are going to be pedantic, get your facts right. Link is not a share register. A share register is a list of the shareholders in a company. Link is a share registry. (Note for your pedantic mind. I use the word 'is' and not 'are' as Link is only one company not two or more. Your grammar, like your vocabulary, needs some work.) And, in any case, I never suggested Link was a bank - it just seemed Link's banking arrangements were not flexible enough for your demands. I like a pedantic discussion. I think they are to be MUFG, not MFUG. MUFG/Link Market Services have people providing many services. So even though it is one Company it can take a plural verb to reflect the many services they provide from different people. A company is a collective noun which can take a plural verb.

https://www.britannica.com/dictionary/eb/qa/Collective-Nouns-and-Verb-Agreement

I find MUFG/Link’s website easier to use than Computershare’s. The transfers between my accounts are easy enough to sort out in my bank’s internet banking.

[kiwikeith]

I like a pedantic discussion. I think they are to be MUFG, not MFUG. MUFG/Link Market Services have people providing many services. So even though it is one Company it can take a plural verb to reflect the many services they provide from different people. A company is a collective noun which can take a plural verb.

https://www.britannica.com/dictionary/eb/qa/Collective-Nouns-and-Verb-Agreement

I find MUFG/Link’s website easier to use than Computershare’s. The transfers between my accounts are easy enough to sort out in my bank’s internet banking.

Excellent point Bjauck.

In the case of the Link example above, I wrote 'Link is a share registry' which is still correct because it is the (one) company which is the registry, not the various employees or departments within it. On the other hand, if I wanted to say the employees at Link were great at returning calls, I could say Link are great at returning calls rather than Link is great at returning calls - because it is the several employees within the company returning calls not the company itself. (I think I am right but I am open to correction)

[Bjauck]

Excellent point Bjauck.

In the case of the Link example above, I wrote 'Link is a share registry' which is still correct because it is the (one) company which is the registry, not the various employees or departments within it. On the other hand, if I wanted to say the employees at Link were great at returning calls, I could say Link are great at returning calls rather than Link is great at returning calls - because it is the several employees within the company returning calls not the company itself. (I think I am right but I am open to correction) True, Link is a singular company providing registry services. However it provides registries for all its company customers, with each company having a separate registry. So I think think the plural verb is still applicable. However I wouldn’t correct the use of a singular verb. Moreover the OP also referred to Link Market Services so a plural verb seems more natural, as Link’s many other services are also implied.

[kiwikeith]

True, Link is a singular company providing registry services. However it provides registries for all its company customers, with each company having a separate registry. So I think think the plural verb is still applicable. However I wouldn’t correct the use of a singular verb. Moreover the OP also referred to Link Market Services so a plural verb seems more natural, as Link’s many other services are also implied.

Bjauck I think you are clutching at straws now. The local shop is a dairy and it sells lots of ice cream to lots of customers. (Not the local shop are a dairy ...) The choice of 'is' or 'are' is not driven by the number of ice creams or number of customers. It is one shop.

[Bjauck]

Bjauck I think you are clutching at straws now. The local shop is a dairy and it sells lots of ice cream to lots of customers. (Not the local shop are a dairy ...) The choice of 'is' or 'are' is not driven by the number of ice creams or number of customers. It is one shop.However in your comparison, we return to the collective noun aspect - a shop versus a company (Link Market Services.)

[kiwikeith]

However in your comparison, we return to the collective noun aspect - a shop versus a company (Link Market Services.)

My ice cream example was just to show the number of customers or share registries it offered was not relevant. It is whehter the company is seen as a single entity or a group of individuals.

Here is a definitive answer
Corporate entities: singular or plural? — Well Writ (https://www.wellwrit.com.au/blog/corporate-entities-singular-or-plural)

The answer appears to be grey rather than black or white. But I will go with the style guidleine at the end which indicates Link 'is' a share registry is correct.

[Bjauck]

My ice cream example was just to show the number of customers or share registries it offered was not relevant. It is whehter the company is seen as a single entity or a group of individuals.

Here is a definitive answer
Corporate entities: singular or plural? — Well Writ (https://www.wellwrit.com.au/blog/corporate-entities-singular-or-plural)

The answer appears to be grey rather than black or white. But I will go with the style guidleine at the end which indicates Link 'is' a share registry is correct.
Link provides share registry services for many other companies. It does not have just the one registry.

I agree with that Australian article. In most formal documentary situations for a company a singular verb should consistently apply. Otherwise it is up to the user and whatever emphasis is desired.

However there is some variance between British and American usage. NZ tends to follow British usage whereas Aussies are more ambivalent. British English is more likely to use a plural for a collective noun.

https://www.blenheimeditorial.co.uk/post/company-singular-or-plural

So to sum up, I think Link IS is preferable. However Link ARE is not incorrect.