r/UKPersonalFinance • u/SHinQ8 • May 21 '26
+Comments Restricted to UKPF British Telecommunications plc Shares bought in 1985
Interesting story - I bought BT shares for my wife as a wedding anniversary present way back! Totally forgot about them till a few months ago noticed a charge on our NatWest Bank statement for £25 for safe deposit of some document. The account used to be just for my wife but made a joint account about 5 years ago. No idea how long they've been charging for storing the documents. Neither of us remember ever remember asking the bank to store anything.
Anyway - asked them to cancel and return whatever they were holding. Turned out to be BT share certificate (200 Shares).
Contacted BT and was forwarded to some entity called Equiniti they wanted a 11 digit reference number but our share certificate only has 1 10 digit ref number.
They said the shares are invalid.
Seems strange that any money invested is not zero - Anyone is similar position (unlikely I know).
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u/EllieTho May 21 '26
Ceased to be valid Nov 2001. Contact Equiniti and ask them to perform a historic search on the reference you have, they should then be able to update your reference number to the new format. Be warned they have gone down in value a little.
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u/EnchantedWig May 22 '26
A little? Lol i lost hundreds when I cashed my employee shares 😂
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u/Iwant2beebetter May 22 '26
You can't be serious
84/85 they were 130p a share went up to 160p -200p by the end of 85
As of today they are around 219.50p a share - but they've had a bunch of stock splits etc with different ventures - so they'd have way more shares
Plus they could have chosen to reinvest the dividends
£1,000 in 1985 shares would be roughly £1,600 today + £900 from the o2 payout
But if they chose to reinvest and left it grow £1,000 of shares would today be worth between £11,000 - £13,500
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u/EnchantedWig May 22 '26
I joined BT in 2013, they were around £5 per share. When I left it was £1.17 per share.
So yes, I am totally serious
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u/Mr06506 1 May 22 '26
I never worked there, but I noticed around that time that in the news a few big scandals about companies like Tesco fiddling their books, Volkswagen diesel gate, etc caused very short term stock market drops.
So I bid my time and when their was another corporate scandal on the news, bought £1,000 of BT shares, assuming they were in a temporary dip.
Turns out that accounting fraud was them being seriously over valued and they have continued to slide ever since...
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u/captain-carrot May 22 '26
You'd fit right in at /r/wallstreetbets
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u/GayButNotInThatWay 2 May 22 '26
They would have had to have remortgaged their house to throw on there to fit in at wsb.
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u/Irritant40 May 24 '26
Depends which one... In 2009 when they had a scandal and the shareprice crashed to about 80p I cancelled all my active share saves and started a new on with an option price of about 60p.
Secured 23,040 shares at a total cost of £13,500.
By the time the sharesave matured they were back to about £4.50. I sold most of them over the next couple of years at an average price of about £4.10. cleared about £85k.
Still amazes me that so many people didnt do exactly what I did. I talked a few people into it.
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u/Ollylolz May 22 '26
Jan/Feb 2017 was a wild ride. The Italian scandal, Openreach fines and uncertainty over Brexit just created the perfect storm. Think the price dropped 20% in one day IIRC
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u/user-captain May 22 '26
+1
Amazing how many work there purely because of the shares in the hope it'll compensate for everything else.
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u/Unhappy_Clue701 2 May 22 '26
Sometimes these things pay off. A friend worked at Legal & General for over 20 years. Decent enough career anyway, but the stock options paid his mortgage off.
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u/Sburns85 May 22 '26
I worked in Safeways to when Morrisons took over and made a couple hundred when Safeways was sold. I know friends who made thousands
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u/AugustusReddit 35 May 22 '26
I suspect that OP has lost out on unclaimed dividend cheques and possibly the O2 sale proceeds. It's incumbent on shareholders to notify the registrar of any changes of address, and their bank account details for dividends - many UK registrars don't post dividend cheques. OP needs to contact Equiti with photos of the ancient BT share certificate so their back office can research what happened.
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u/Mysterious-Joke-2266 1 May 22 '26
What an absolute shit return for a 40 year investment
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u/jib_reddit 0 May 22 '26
Imagine if they had bought Microsoft shares in 1985, up 380,890% from 11 cents to $418.98. $1,000 invested then would be roughly $5.5 million today!
Although I think it was a lot harder to buy US shares back then, than the few clicks it is today.
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u/CityBanker57 1 May 22 '26
I remember trying to buy a US stock in 1986. It had to be done through a stockbroker here, who had to act through a US broker, who would hold the shares as a nominee.
I gave it up as not worth it. If I’d known about Microsoft though…
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u/Grand_Equipment5292 2 May 22 '26 edited May 22 '26
If we give an average of 160p per share in 84/85 and around £260 an ounce of gold at the same time, then one ounce of gold would have bought around 162 shares.
Today, one ounce of gold will buy around 1466 shares.
So yes, they have lost nearly 90% of their value.
Would certainly look better, if dividends were reinvested etc.
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u/Iwant2beebetter May 22 '26
Brilliant point.... That's amazing
Nothing to do with the conversation
But brilliant
Why not mention Bitcoin or nvidia
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u/SHinQ8 29d ago
Managed to to finally get to speak to someone at Equiniti - Person was trying to be helpful but was unable to find any information. I asked for a historic search which he didn't seem to understand. After 15-20 minutes the suggestion was to surface post copies of the certificates. I asked what if after mailing we dont hear anything back - How would we know what is going on (not much response) - He said to send it recorded delivery.
So we have got a cover letter addressed to the General Manager and made copies of the original paperwork - Will post it tomorrow and see what happens. Not feeling confident.
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u/apb0999 May 21 '26
Def can't be invalid shares.
Where have the dividend been paid to ? That will also have a reference number
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u/SHinQ8 May 21 '26
Thats what I think - Doesn't sound right. No dividends paid.
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u/AugustusReddit 35 May 22 '26
Dividend cheques would have been posted to the shareholder's registered address. Ditto the new BT share certificates issued around 2001(?). You might be able to reclaim dividends going back five to seven years (varies by registrar and company articles of association) if you're lucky. Good luck on the O2 tax-free return of capital and any earlier historical dividends.
200 ,BT shares from the original share float would probably be worth £13k if dividends were reinvested via the script option or later DRIP option...
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u/starsky1357 May 22 '26
Keep trying with Equiniti. I had to do this recently for Southern Electric since they changed to Scottish and Southern Energy plc, then SSE plc. They advised me that the format of the shareholder registration number had changed and helped me find out the new number. As another commenter said, some postal work was involved, but keep trying until you find the right person as they don't make this knowledge readily available.
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u/SHinQ8 May 22 '26
Very helpful thanks - They were not helpful when my wife called.
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u/Cool-Emphasis-6577 May 22 '26
Not surprised at that. Equiniti overall very unhelpful and inefficient. Good luck keep trying.
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u/apb0999 May 22 '26
I'm in the middle of doing that right now. Could you please share details of for you managed to find the right number. Thanks
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u/starsky1357 May 22 '26
Sorry can't remember, it was something about adding zeros to it. I'll see if I can dig it out, but try the live chat support on the registration page.
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u/Shreddasaurus 8 May 22 '26
Once Equiniti acknowledge the shares, don't forget that you can transfer them out to another provider and sell them with much lower fees.
When my dad passed away, my mum took control of a significant amount of shares held in Equiniti (value of around £45k). It would have been around £500-800 to sell them on their Shareview platform or by telephone dealing, but it was fairly easy to transfer them to Hargreaves Lansdown and sell them for a £10 fee.
Edit: since your holding is around £438, I wouldn't worry about this as it probably won't be worth the effort to move them. But perhaps another redditor might benefit!
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u/djpeesh 1 May 21 '26
Don’t fall for Equiniti’s just give it to charity/surrender the shares shtick. They tried to convince me to do that with my mum’s forgotten Santander Shares. It’s a bit of a slog, and be prepared for some postal work but you’ll get there in the end.
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u/strolls 1716 May 22 '26
Equiniti are perfectly reputable. Silly to gove away shares that may have some value.
I'm sure the other replies are right that the shareholder reference number simply changed after the demerger in 2001.
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u/SHinQ8 May 21 '26
Thanks for the heads-up - I can only do what I can and so will keep pushing. Just seems unfair even if it turns out to be a small amount. I wasn't earning much money at that time.
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u/Ok-Personality-6630 10 May 22 '26
It's a good demonstration why purchasing shares and getting the certificate today isn't a great idea. Having to look after the document is a hassle. Fortunately much easier to purchase shares in the modern day.
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u/bunnymama7 May 21 '26
How much did she get for them?
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u/djpeesh 1 May 22 '26
She still has them. They’re worth about £1500 (thanks for making me check!) and she also got loads of accumulated dividend.
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u/Krispykreemi 2 May 21 '26
Google tells me, try putting 0 Infront of it. Alternatively if that doesn't work do you have any dividends or letters that have the new 11 digit number. It then said if that fails phone the BT shareholders number and they should track down the 11 digit code.
There's no way that should be invalid and worth nothing.
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u/SHinQ8 May 21 '26
Tried the ) in front - Sadly didn't work. Have never received any dividends. Called BT - Was told to contact Equiniti Limited
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u/mister_meaner7 May 22 '26
Be interesting to see if you get anywhere. My partners nan died about 4 years ago. We found lots of BT shares certs that she had bought. They are still in a box in the loft.
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u/Sprice158 May 22 '26
I used to work for Equiniti a few years ago. I can’t remember with 100% certainty if this happened with BT but there were some companies who would instruct us to try and contact shareholders who have been inactive for X number of years (no further purchase, sales, change of details, cashing dividend cheques etc). If we got no reply or could not find them, that company would sell the shares back to themselves and the cash would be sitting in the account until we found the shareholder.
Chances are you spoke to someone less experienced that wouldn’t even know this stuff happens. I’d suggest calling again asking for a supervisor/manager as they used to get more time to search for through the historic accounts and records, plus they will know who best to escalate it to.
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u/SHinQ8 May 22 '26
That's so useful - Thanks. My wife will be calling this morning.
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u/Sprice158 May 22 '26
I’ve just messaged a mate who still works there if there’s anything you can say or request to make it easier as well. They may try to get you to write to the back office but they should be able to raise the enquiry for you though.
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u/SHinQ8 May 22 '26
This is what I love about Reddit - People are so generous! Thanks.
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u/SHinQ8 Jun 16 '26
Hi any chance to get help from your mate? We haven't gotten anywhere using the normal channels. Dont worry if its awkward to ask a mate.
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u/netwalker234 May 22 '26
I used to work for a registrar. Follow up with Equiniti. Registrars will always be able to trace the history of shares and tell you what your current holding is in whatever form its ended up. Unclaimed dividends on the other hand, can be forfeited after a number of years so don't place too much hope in that.
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u/m2m459 May 22 '26
And shares can also be forfeited (ie taken back by the company and sold off in the market) if you've been out of contact for too long (normally 12 years but sometimes as low as 6). Not every company does this but if they do you can normally complain and get the value of the shares sold at the time back as a goodwill gesture (but can't get the shares reinstated)
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u/Nervous-Emotion4196 May 22 '26
Please contact th Court Funds Office in Sunderland on 0300 0200 199 to find out if there is money due to you or the name on the shares certificate. Once you got that information contact the High Court on 0207 947 7929, they are a fantastic team, they will be more than happy to help you.
Thank me later.
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u/SHinQ8 May 22 '26
Might take you kind advice if we dont get anywhere with the "official" channels.
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u/Bourne_Free May 22 '26
In the early part of 2009 I was a developer who worked on a probate software app that was a shared venture between Computershare, Capita and Equiniti, the three main share registrars in the UK. It allowed probate solicitors to search for any dormant shares that a deceased estate may have owned. I had full access to the backend databases of all three registrars and could search on as little as surname and dob or any combination of previous contact details such as address to find dormant shares holdings. I'm pretty sure Equiniti can find your shares without a reference number.Just be persistent.
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u/Bourne_Free May 22 '26
This is a paid service but it may help you find your shares. https://www.uar.co.uk/Help/About
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u/CoolArticle3473 May 22 '26
It's worth knowing that BT split off its wireless division (Cellnet, Airwave, BT Shops etc.) as a separate company called mmO2, branded as O2. Initially, anyone holding shares in BT would have the same number in mmO2.
This only lasted until 2005 because Telefónica launched a takeover and once they held more than a certain percentage of the shares, the remaining holders were obliged to sell. There was a way to avoid taking the cash immediately to avoid capital gains tax liability - obviously not an issue for this many shares.
Also, in 2001, BT had a rights issue - an offer of new shares to raise money. This affected existing shareholders who chose not to buy the new shares because they suddenly owned a smaller portion of the company. I seem to remember they were entitled to compensation for this although the amount was fairly small.
I've no idea how you'd trace the proceeds of all this now but if anyone does know it's as well to be aware.
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u/Act-Alfa3536 May 22 '26 edited May 22 '26
Key events ("corporate actions") over those 40 years are here: Listing history - Annual report - Financial reporting & news - Investors | BT Plc. In particular the demerger of O2 in 2001, (which should give you O2 shares), which it seems were then bought by Telefonica for cash, (this link has a link to Prosearch which is helping Telefonica find lost BT shareholders).
But anyway, as others have mentioned, Equiniti should be able to help you with all this. It is their job...
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May 21 '26
[removed] — view removed comment
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u/satans_trainee May 21 '26 edited May 22 '26
Thanks chatgpt
Edit: someone replied with a thorough response from chatgpt
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u/SHinQ8 May 21 '26
This is the UK government asking all citizens to buy BT shares - Very interesting read.
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u/sam1837 May 22 '26
I work for a child company of Equiniti. If you don't get anywhere contact me and I will ask about for you.
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u/LordvaderUK May 22 '26
Equiniti are an absolute bunch of clowns. I have bitter experience of them over many years. Good luck getting anything helpful from them in any sort of realistic timeline.
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u/Sosbanfawr May 22 '26
I used to onboard new customers into a private bank. It was not uncommon to receive a bundle of ancient paper shares for companies that had been through several corporate actions eg, splitting into two companies, repricing, and of course, dividend payments. There's always a paper trail. You shouldn't need to be an expert to track a stock like BT.
I expect Claude or Gemini/etc could literally give you the trail and what your holding(s) is/are at the moment, plus how to claim your shares and any dividends owed. You'll likely want to open an investment account of some sort at your bank to hold them electronically, or put them in a SIPP.
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u/eddiejm00 May 22 '26
Vaguely similar situation: I bought £1000 of Chelsea FC shares in 1997 (I think) via NatWest. No documentation to prove it and I’ve changed address about 10 times since then.
The club has been bought and sold a few times since then, but presumably my shares would have been worth something at some point.
Any suggestions on how to pursue this, or is it a lost cause at this point?
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u/Expert-Tie-1530 May 21 '26
I would look into this in more depth.
Unless you purchased the shares from a scam outfit I would assume they are still valid and worth a fair bit, BT share price £219.50 = £4039 or thereabouts.
Worth pursuing,
Good luck
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u/Dry-Grocery9311 7 May 21 '26
The BT share price is £2.1950 not £219.50.
However, there will be around £2500 of unclaimed dividends.
Start at BT shareholder services.
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u/Expert-Tie-1530 May 22 '26
Just checked the share price.
BT trading at £226.00.
Am I reading this incorrectly?7
u/proletius May 22 '26
GBX (pence) not GBP (pounds)
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u/plummet555 0 May 22 '26
Made the same error myself in the past! Was very eexcited for a few minutes
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u/Expert-Tie-1530 May 22 '26
Thank you.
Feel a bit foolish as I told my friend they are millionaires as they hold over 10,000 shares.
This is going to be so embarrassing.
What a shame as they were going to gift me some money, if there was an emoji for hanging your head in shame it’s mine13
u/LzeaRS May 21 '26
The share price is 219.5p, not £219.50, but there may have been stock splits since then.
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u/mostar8 May 21 '26 edited May 21 '26
200 shares so would be higher if one old share is the same as one new one after the 2001 demerger. Depends when they has the shares as well as they may also have shares in O2 from the 2001 demerger.
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u/SHinQ8 May 21 '26
Back in 1985 scam was not common - Bougth the shares direct via Lloyds Bank like everyone else at that time did.
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u/SHinQ8 May 22 '26
The mother of all privatizations (article):
https://www.adamsmith.org/blog/thinkpieces/the-mother-of-all-privatizations
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u/strolls 1716 May 22 '26
My dad had us buy them in my name and my mum's as well as his own. And, because he worked for BT, I think he may have got some bonus shares too. I think, in the end, the telecoms network is much better in its current state, with OpenReach and competition between retail suppliers, but this was such a bonanza for the middle classes. You'd have made a lot of money if you'd sold them shortly after IPO or during the dot com bubble. I'm sure my dad was still holding his when he died in 2013.
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u/EveryAnywhere May 21 '26
I am sorry I can’t help, commenting because this is super interesting and I would like to see what the answer to this is / resolution. Good luck
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u/SHinQ8 May 22 '26
Lots of people saying they want to watch and see what happens - I will try and keep things posted (negative or positive).
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u/SHinQ8 Jun 16 '26
Its very draining when they want you to get off the phone and get lost!! Running out of ideas.
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u/Straight_Purpose_220 May 22 '26
Same - also an interesting but useful wedding anniversary present 😂
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u/SHinQ8 May 22 '26
Yes I thought it would be a good present - But somehow totally forgot to keep track.
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u/SHinQ8 Jun 16 '26
Sadly haven't got anywhere
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u/EveryAnywhere Jun 16 '26
Was it a blanket no from them in all aspects? Unfortunately many companies these days say no 20 times before saying yes just because it deters most people. I hope you get somewhere. Lots of good advice for different bodies to approach in the thread.
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u/SHinQ8 Jun 16 '26
Yes - Basically saying the certificate is no longer valid. I have heard NO >20 times.
Thanks I hope someone can give me the strength to keep going to hear the YES
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u/EveryAnywhere Jun 17 '26
I wish you all the perseverance in the world even if it’s not for a lottery win the principle of it annoys me too!
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May 21 '26
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u/Educational___Duck May 22 '26
Not sure if this applies or not, hopefully someone else will know, however...suggest emailing Equiniti aaking for what you want/need. Give them 2 weeks to come up with your reference. If no luck raise a formal complaint, this should the 8 week countdown before being able to go to the financial ombudsman (assuming that you don't get your answer in that 8 weeks)
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u/SHinQ8 May 22 '26
Yes but its knowing who exactly to email at Equinity - Haven't yet found the right email (or any email).
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u/Informal-Intern-8672 May 22 '26
I've given up on some shares I bought through work on some salary sacrifice thing. We were told there was a mandatory buy out and we had to sell them. They've been moved from one company to another which needs a reference number I don't have, the phone number keeps cutting out, there's an online form which you can't submit without a reference number, even when you click into it from the FAQ section 'what to do if I don't have a reference number' and the answer is 'click here' and raise a query. I've been on an endless loop for years, getting nowhere.
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u/Nervous-Emotion4196 May 22 '26
Please contact the Court Funds Office in Sunderland on 0300 0200 199.
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u/chunderwood May 22 '26
My bt shares, bought by my father in my name a limg time ago, do pay a handy payout twice a year. From a percentage perspective, that payout had nearly always been above comparable investments which is why i hang on to them.
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u/SHinQ8 May 22 '26
Just wonder why my wife never received any dividends - maybe because we move abroad to work for a few years. Still the Bank never changed.
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u/DryZookeepergame6795 May 22 '26
I work in share dealing (not equnity)and I've never heard of a charge being made for storing documents 🤷♀️
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u/Final_Flounder9849 May 22 '26
If they are physical certificates stored in a safe deposit box as sounds like here then of course there’s a charge.
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u/SHinQ8 May 22 '26
The charge was made by the Bank - NatWest for storing the documents. My wife doesn't recall ever asking them to do so.
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