ComplaintsforAmerican Stock Transfer & Trust Company, LLC

• Initial Complaint

  11/08/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I am trying to regain control of shares I purchased under an employee stock purchase program facilitated by AST when I worked for ******************** The company does not answer phones, and is impossible to contact via email.

  Business response

  11/10/2023

  Hello,

   

  The attached response has been sent to the complainant by mail.

   

  Thank you

• Initial Complaint

  11/02/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  Their website doesnt work correctly. I tried to reset my password about ten times and was told it doesnt meet the requirements despite it meeting every single requirement. Because of this, I ****** up getting locked out of my account. *** contacted the help email numerous times to be told I need the stock name, certificate number, my social security number, etc. How would I know the certificate number when I cant even log in? This isnt ****. Help has been extremely slow. The last correspondence took them 8 days to respond to. I responded with the requested info they asked from me to look up my account (my social, the email address on file, and my name), and they apparently still cant do anything. I dont think theyre even reading their emails at this point.

  Customer response

  11/02/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.
  
  Sincerely,
  
  ***********************************
  
  
  
   
  
  

• Initial Complaint

  07/05/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  My mother passed away in July 2022. She owned some Manulife stock. I am her son and executor of her will and I have been trying, for almost a year to transfer the stock into my name so I could sell it. Every time I call AST they tell me what forms to provide, they have even emailed me some forms. I write everything down, fill out the forms, have them notarized where required and send everything they asked for. Nobody responds. When I call, I get the run around. Wrong form. Different form needed etc, They are arrogant and incompetent. I think they intentionally make it difficult, hoping youll give up and go away.

  Business response

  07/05/2023

  Dear ****************, 

  We sincerely apologize for the service that you have received. 

  I have escalated this matter to the management team with our co-agent TMX Trust Company.  A representative will contact you shortly to verify the account in question and provide a resolution.

  Thank you for patience regarding this matter. 

   

  Sincerely, 

  ***********************;

  **** ********** ***************************** ***************** ************* ***** ******** ***
  

  Customer response

  08/21/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.
  
  Sincerely,
  
  *************************
  
  
  
   
  
  

• Initial Complaint

  06/06/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  American Stock Transfer company is a brokerage company which I used to invest my money on the stock market. Recently I contacted the company and informed them that I want to withdrawal my money and they told me that that they have transfer the money to another account and therefore I cannot withdraw the money.I have attempted several times to resolve the issue with the company so that I can withdraw the money and they are not cooperating with me. So I need help getting my money out from this company.

  Business response

  06/20/2023

  Dear ********************, 

  A review of our records reflects that you contacted our *************************** on several occasions to discuss how to sell your shares of ******* Inc. 
  

  During your phone conversation you were advised that a certificate representing your ownership was mailed to your address on record. Since you reiterated to us that you were not in possession of the original stock certificate, the affidavits to replace the shares was mailed to you on May 9, 2023. 

  When you notified our *********** that you refused to complete the attestation, we waived the fee to replace the shares and sent you an Affidavit of Non-Receipt on May 24, 2023. 

  To date we have not received the completed Affidavits and as result your shares were not replaced. Upon receipt of the completed Affidavits we will promptly conduct the replacement; however, you must include a written request to sell your shares.

  Please note that EQ is not a brokerage firm. We are the Transfer Agent for ******* and if you elect to sell we can arrange the sale through their Direct Stock Purchase & Sale Program which requires initiation with a stock broker. 

  If you require additional information please do not hesitate to contact our *************************** at **************.

  Sincerely, 
  ***********************
  Vice ********** ***************************

• Initial Complaint

  05/18/2023

  Complaint Type:

  Customer Service Issues

  Status:

  Unanswered

  More info

  I am unable to manage my funds through AST due to the account registration page being "under maintenance" for the last several months. Over this time, I have lost funds due the me not having access to my account or the ability to manage my funds/stocks. Support has been called over this issue and they do not have any timeframe as to when the registration portal should be back online. They are unable to provide any assistance otherwise.

• Initial Complaint

  05/10/2023

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Answered

  More info

  I have been trying to purchase additional shares in a company. This companys website has been down for over 2 weeks. No explanation has been provided by the company. When I call they just apologize and say that they know nothing about it & cant assist me. Their malfeasance has left me unable to purchase additional shares of stock & has precluded me from being able to profit. This is by far the worst transfer agency I have ever dealt with. I advise everyone to skip this service.

  Business response

  05/18/2023

  Dear ****************, 

  Thank you for taking the time to provide your feedback on our services.

  We sincerely apologize for any inconvenience that you may have experienced. 

  The Shareholder Central system was offline while we performed work on the site to enhance security, protect our users and improve user experience.

  While we know this may have been an inconvenience for some shareholders, transactions have been fully supported through our customer contact center during this period.

  The site is now back online as of May 4,2023 however we are still conducting some additional work on user journeys related to securing and enhancing the shareholder experience. This means that temporarily, shareholder transactions will be assisted by our ******************** at ************** or at ************.

  There is plenty of customer care center capacity as the call center is open Monday to Friday from 8:00 am to 8:00 pm. (Eastern Standard Time) and can handle the servicing of certain shareholder transactions. 

  Please note that some transactions have been temporarily suspended; however, you can submit a written request as an alternative.

  Thank you for your continued support and understanding. 

  Sincerely, 

  ***********************
  

  Vice ********** *****************************************************

• Initial Complaint

  05/04/2023

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  I own **** shares of *********** Vehicles (Symbol: AMV), which is currently held by American Stock Transfer. When my accumulated shares were first deposited into this account *********************** fall, I was unable to trade or transfer them due to the fact that they were classified as "restricted". Once the restriction was lifted at the end of the year, I filed a Transfer of Assets request with ********************* which is the company which I hold my *** and the majority of my other investments with. Shortly after I filed the request with Fidelity, I was contacted and told that, despite the fact that I had previously sent them a completed IRS Form W-9, my transfer request could not be completed because AST did not have a Social Security Number on file for me. In early January of this year, I composed a letter to AST with another completed IRS Form W-9 and requesting that they comply with the Transfer of Assets Request which Fidelity had filed on my behalf. After a couple of weeks went by, I contacted Fidelity and asked them the status of my transfer request. They told me that it had been closed, as AST never transferred my shares as requested, and did not respond to multiple inquiries made on my behalf. In mid-February, I filed another Transfer of Assets request with Fidelity, and I sent another letter to AST, this time to *******************, EVP of the AST Transfer Agency, again requesting that they transfer my shares in AMV to my brokerage account at Fidelity. Not only did I send yet another IRS Form W-9 to them, but I also included copies of additional government identification. After a couple of more weeks went by, I was again contacted by Fidelity and told that my transfer request had once again been cancelled as my Social Security Number still didn't match the one on file with AST. In early April, I contacted the *** of *********** Vehicles and asked him to contact AST in order to facilitate my request. As of May 2nd, I have have not received any responses to my multiple letters.

  Customer response

  05/04/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.
  
  Sincerely,
  
  ***************************
  
  
  
   
  
  

• Initial Complaint

  03/24/2023

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  My father, *********************, was executor to his mother's estate, ***********************. She had Brascan stock that is now handled by a management company. While my father was alive he was able to deposit dividend checks, etc. as he was listed on the account as executor when **** passed away (in ****). My father passed away in 2011 and my mother/his wife, ***************************, tried to transfer the stock to sell it. She was unable to get anywhere with the company and instead of fighting with it, she shredded all checks sent to my father. My mother passed away in 2022 and I am executor to her estate trying to get this stock taken care of once again. My financial advisor called AST Financial (who took over for TSX which took over the account from Brookfield) and got everything I needed to send in. I sent in all required documents on 11/3/22. On 11/16 I received a letter from AST Financial requesting additional information. I called on 11/22 to get clarification and could not get any. I was told a supervisor would call me back. 1/13/23 I called back because I had yet to hear from anyone. A supervisor told me it was in the process of being transferred and he would call me back. 2/17 I called again because no call was received and was told they would call me back. 3/10 I called again because no one called me back. I was again told it was being transferred and they would call me back. No call. 3/24/23 I called yet again - still nothing and no one will help me. They are basically holding my money hostage because I can't get it transferred to sell the stock to divide between me and my sister. If something else is required, I need to know but no one will call me back. Everyone says they will help and then just leave me stranded! This money belongs to my family and we are entitled to it. The company has all death certificates, Letters of Administration, will, copies of stock certificates, etc.

  Business response

  04/10/2023

  Dear Sir or Madam, 

   

  Thank you for taking the time to describe your experiences with our firm.  I have escalated the request to the appropriate parties and you will be contacted asap to discuss the next steps. 

  We sincerely apologize for the inconvenience that you experienced as a result of the delayed processing; however, this will be resolved shortly. 

  Sincerely, 

  
  
  Sincerely,
  
  ***********************
  Vice President ******************************

  Customer response

  04/10/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID# ********, and have determined that my complaint has NOT been resolved because:

  [Your Answer Here]

   Until it is actually resolved  I will not accept.  Everytime I have been told someone would call me no one has.  Currently waiting for ****** to return my call after sending required information to him in ****** with a check!

   

   

   

  In order for the BBB to appropriately process your response, you MUST answer the question above.

  
  Sincerely,
  
  ***********************
  
  
  
  
   
  

  Business response

  04/27/2023

  Good Afternoon,

  We have communicated with TMX and an agent from TMX will contact you as soon as possible. 

  Sincerely,
  

  
  ***********************
  Vice President
  Operations, AST
  

  Customer response

  05/01/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.  ****** has been extremely helpful in getting this matter resolved and while not fully complete I believe we are almost done with the process.  A big thank you to ****** who has been the only person who has cared enough to keep in contact and provide the needed paperwork and forms to resolve the issue 
  
  Sincerely,
  
  ***********************
  
  
  
   
  
  

• Initial Complaint

  02/09/2023

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  August 2021 tried to transferred deceased father's stocks to my name. Submitted the paperwork three times with proper documentation. However, was told I was missing a page each time. Finally after submitting the same paperwork the third time, it was transferred. In 2022, I received notice that my father had another stock that needed transferring. After submitting the paperwork again, it was the same thing. I had a medallion gold signature ($150) and also paid $50 to get it transferred. After a couple submissions it was transferred to my name. Now I received my ****-Div which shows one stock back in my deceased father's name followed by my name but my older brothers address. I have tried calling, four different numbers, but unable to reach a real person to straighten the matter out. I have emailed them and no response.

  Customer response

  03/09/2023

  Better Business Bureau:
  
  At this time, my complaint, ID ******** regarding American Stock Transfer & Trust Company, LLC has been resolved.
  

  (By clicking "OK", your complaint will be closed as Resolved.)

  
  Sincerely,
  
  *********************

• Initial Complaint

  01/31/2023

  Complaint Type:

  Billing Issues

  Status:

  Resolved

  More info

  In Dec, 2021, I was notified by the State of Calif of unclaimed monies in the amount of 316 or so shares of ************* (about $50,000) stock being held by AST, or American Stosk Transfer. It is held in my deceased fathers trust nam (he passed in June, 2019) and I think just forgot this account. Nothing in his paperwork that he showed me over the years. Similar to another complaint I see, I have called repeatedly - no answer busy tone to see how I can get a statement of this account (which I can view on line). I was told by one person to email the help desk with a request for the statement, which I have now done twice 12/29/21 and 1/17/23 to no reply. Then another phone call or three to get their fax number. It says not accepting faxes at this time. I need this statement for my brokerage house, ******* ***** to submit with my forms for a transfer of these assets. I call back again, last Friday and whomever I spoke with said she would kick the situation up to a supervisor. I am not confident that I will hear from anyone, so in essence they are holding this stock hostage. I have also received two dividend checks, one from the past that was returned from his address and one new one of course, made out to his trust, which I cannot deposit in my bank account. His trust account at ******* ***** was closed last year and the *** # cancelled. I am the Trustee of his account and soul heir. Please let me know if you can help with this. *****************************************

  Business response

  01/31/2023

  Dear **************,

  We sincerely apologize that you were unable to reach our *********************** in response to your requests outlined in your complaint.

  Our ***************** Team will look into all of the incidents mentioned below and remediate our process where necessary.

  With regards to your complaint, i was able to locate your original request and documents and took the liberty of sending you the statement, transfer package with instructions to re-register the shares along with the 1099(s) that you have requested via email earlier today.

  Again we apologize for any inconvenience that you experienced and appreciate you taking the time to provide your feedback.

  I will contact you shortly to ensure the documents have been received.

   

  Sincerely,

   

  ***********************

  **** ********** ****************************************

  Customer response

  02/02/2023

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me and the matter has been resolved.
  
  Sincerely,
  
  *****************************
  
  
  
   
  
  

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩