Have you lost shares? Are you looking for a way to find them? The good news is that you do have options. For instance, some companies offer a simple electronic search for finding shares. You don’t even need a lot of information. As long as you have your Security Reference Number (SRN), you’re halfway done with the process already.
Tracking Down Shares
Once you visit a website that offers share tracking, you’ll fill out a short form. But before you do that, make sure you meet the identity requirements. These include:
- Being the shareholder or an authorised signatory of the shareholder
- Hold an Australian passport or an Australian Driver’s License
- Have a VISA, AMEX, or MasterCard credit card in your name or that of the signatory
- Have access to online banking for the same credit card
- Know the exact name and address that the shares are registered to
Have all that information? All you need to do is put in your information and pay a fee to track down your lost shares. Once you have them, you can choose to sell them.
Selling Lost Shares Online
Many companies that help with finding lost shares also provide services to sell them. If that’s the case, the entire process is convenient and quick. We recommend choosing an organisation where you don’t need to hire a broker. Instead, the whole process can be handled online.
Before you start the process, you’ll need a dividend statement or holding statement for the shares you wish to sell. These are provided by the share registry and offer essential information and holding numbers.
The next step is filling out a form to sell the shares. This is often a simple process but does require proof of your identity. The best websites handle the entire process online, rather than requiring you to mail or email documents.
When you sell lost shares, the legal ownership is transferred and the settlement of the sale occurs within about two days. You’ll then be sent the amount you are owed soon after.
