Skip to content
  • There are no suggestions because the search field is empty.

Managing Bank Details for Dividends

  • Managing a bank account for receipt of dividends is a separate process to managing settlement bank details, as dividend 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.

There are two methods to update dividend bank details in TC Ops: 

Account Maintenance > Bank Details

  1. Click on the account you want to nominate for dividends and then click the blue "Edit" button. 

  2. Tick the "Dividend Account" box and click Save. Bank Details will be added to the account and automatically sent via CHESS to the Share Registries for the positions the client holds on their HIN and any new holdings settled in the future.

Account Maintenance > HIN Details

  1. Go to Bank Details and click the Pen (Edit) Icon

  2. Enter in Bank details and select confirm. Bank Details will be added to the account and automatically sent 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.