Bursa Malaysia - Launch of eDividend
18 Mac 2010
eDividend is a service which allows an issuer to electronically pay your cash dividend entitlements directly into your bank account instead of making payment via bank cheques.
One of the main objectives of implementing eDividend is to promote greater efficiency of the payment system which is aligned to the national agenda of migrating to electronic payment.
This service will be launched on 19 April 2010.
- Faster access to dividends which are credited directly into your bank account
- Convenience – eliminates the need to go to a bank
- One-off provision of bank account details for all listed issuers on Bursa Malaysia
- Better account management with the option to consolidate the dividends from all your CDS accounts into one bank account
- Misplaced, lost or expired cheques will no longer be an issue
How to register
To enjoy the benefits of this convenience, existing RHBInvest clients can register from 19 April 2010 onwards. You must complete the relevant prescribed form and submit it together with the required supporting documents at our office.
If you are an individual depositor, when providing your bank account information for eDividend, bring along:-
- Original documents for verification.
- Copy of Identification documents i.e. NRIC, Passport, Authority Card or other acceptable identification documents.
- Copy of your bank statement/ bank saving book/ details of your bank account obtained from your bank’s website that has been certified by your bank/ copy of the letter from your bank confirming your bank account details.
Note: If you are unable to be present at the stock broker’s office, the signing of the relevant prescribed form and the supporting documents must be witnessed by an acceptable witness specified by Bursa Depository. An acceptable witness includes an Authorised Officer of your stock broker, a Dealer’s representative, a notary public, or an authorised officer of Malaysian Embassy/High Commission. Once signed accordingly, the document should be submitted to your stock broker.
If you are still not a RHBInvest client, you can also register now at our RHB Centres.
For more information on eDividend, click on the link below:
RHB INVESTMENT BANK BHD