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Member
Link Market Services
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 ?
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Member
Originally Posted by 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 ?
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.
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Member
Originally Posted by kiwikeith
...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.
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Member
Originally Posted by fastbike
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.
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Originally Posted by 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 !
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.
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Originally Posted by kiwikeith
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/dictionar...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.
Last edited by Bjauck; Yesterday at 08:56 PM.
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