Cheque payments will exist for investors who have not provided bank details if you made cheque payments an available option when you set up your payment.
Cheque payment list
Before making payments by cheque, you can review the Cheque list by clicking on Cheque in the Calculated payment amounts table on the Payment details page. Here you can see the payment details and status for each cheque payee.
Paying cheque payees
Once you have scheduled a payment, you can pay your investors via cheque:
- From the Payment detail view click on the blue number next to Cheques to go to the Cheque list view. In this view you will be able to see a list of payments to be made via cheque. It includes an editable Cheque Number field.
- Using the fields from the list, Cheques should be made out to the Investor with an amount equal to Cheque amount (rounded). This amount will equal the Net amount unless the investor has elected to receive a portion of the dividend payment in DRP.
- Return to the Payment detail view. In the Payment statements section, the cheque statements will be available from record date. Click Download statements and mark as sent. Once downloaded, the cheque payments will automatically be marked as Sent in the Cheque list.
- Send the statements and cheques by post.
- Once the cheques have been presented to the bank, in the Cheque list the Status dropdown can be set to Presented.
- There are two options for payment retained in the Status dropdown:
- Payment retained - cheque was returned to sender, and
- Payment retailed - wrong address details.
See handling failed payments for further information on these options.