How to manage your clients bank details for dividends
Managing the bank account for settlement of dividends, is a separate process flow as those bank details are attached to the HIN record with CHESS. It can be the same bank account as the bank account being used to settle trades, or it can be a different bank account.
To add or amend the Bank Details for Dividend payments
1.Go to TCOps > Account Maintenance > HIN Details
2.Go to Bank Details and click the Pen (Edit) Icon
3.Enter in Bank details and select confirm. Bank Details will be added to the account and automatically via CHESS to the Share Registries for the positions the client holds on their HIN and any new holdings settled in the future.
Please note, it is up to the share registry to receive and record bank details, and while most do, not all share registries accept bank details electronically via CHESS.
