My journey as i try to reactive my foreign dormat account

WOGIAM By WOGIAM, 4th Feb 2015 | Follow this author | RSS Feed | Short URL
Posted in Wikinut>Writing>Personal Experiences

My brother in-law recently sent me scanned copies of a batch of expired dividend warrants and share certificates which belong to me. He had been keeping them for me as per my instructions and at the end of last year, he decided that i should renew them as convert into cash.

It is a tedious, long process and i am tired already.

I never realised how much i had accumulated in dividend warrants which clear as cheques and acquired bonus shares of a humber of companies i used to own shares in.
When i worked in the financial sector, i was very active in trading in the stock market and deligently used a portion of my salary then to purchase shares. I sold as much as i could when i relocated to the UK, years ago, but i did not sell all as some companies have continued to issue and send me dividend payments and even bonuses.

So i decided to reactivate my stock and current clearing accounts, the whole process is stressing me out, the processes of reactivation, indentification of self etc is now so new and complicated, and being abroad is not helping matters.
I understand that the banks have to be careful as the incidents of fraud is very high but it is getting on my nerves, they are my accounts, can someone please just allow me use them again?

The mergers, dissolution of some of the stock brokers is not helping my case but surely that is not my fault. The regulatory bodies seem more interested in copying the British system than working with what actually works for a society like an African one.
I have sent so many documents as per their requirements but hurdles always pop up after i clear one stage or when another dept is required to approve my reactivation request.
I am grateful as my brother-in-law has been so wonderfullly helpful and is more determined to resolve all outstandings than i am. The monetary gain when we sort things out is worth the stress anyway so i am riding this one out, though i may scream at the next "confirmation" call or proof of ID request i get from any of the Banks.

I am staying positive

I am hoping to remain positive, the journey is clearly going to be a long one, but i will get there in the end, the dividends are mine and i deserve to benefit from them.

I will keep everyone posted on how things went in respect of this.

So anyone reading this may want to check old envelopes, accounts, documents etc, there just may be some money waiting to be revived.


Account, Documents, Online Banking, Reactivate

Meet the author

author avatar WOGIAM
I read almost every and anything.
I love books, travelling (when I can afford to), cooking and eating.

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author avatar Utah Jay
4th Feb 2015 (#)

I am going through sort of the same thing, only mine is an old insurance policy, and yes, it is frustrating.

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author avatar WOGIAM
5th Feb 2015 (#)

I hope you do not give up, delays only make the time it takes to resolve any issues longer and tougher.

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author avatar Carol Roach
6th Feb 2015 (#)

I hope you get your issues resolved

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author avatar Sivaramakrishnan A
6th Feb 2015 (#)

The procedures are getting more complicated in terms of paperwork. The trust has disappeared; we are treated as digits, bankers tell me - don't visit us, the documents will do! siva

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author avatar WOGIAM
9th Feb 2015 (#)

LOL, yes, Siva but then it seems the documents never are enough to convince them.

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