I have 8 custodial accounts with EQ Shareowneronline. I have one for each of my grandchildren and I periodically buy Proctor and Gamble stock for them. I opened the first account about 15 years ago when Computershare was the agent Proctor and Gamble used for their DRIP accounts. They later switched to Wells Fargo and then to EQ Share. Things worked well for several years. I would place a buy order online and give them the dollar amount I was buying and my banking information. They would make the purchase and take the dollar amount out of my bank account plus a $1 transaction fee. In December 2024 I was buying more P&G stock for each of my 8 grandkids as a Christmas gift. Seven of the orders went thru with no problem. The 8th order kept getting a message that the order could not be placed at this time. I tried several times without success before calling their "customer support" line. They acknowledged they were having a system problem but couldn't say when it would be fixed. Their solution was for me to mail them a request with all my information and a check for the amount I was buying plus a $5 processing fee. I decided to give them some time to fix their problem and try again later. Over the next several weeks I kept trying to place a buy order without success. I finally got an order to go thru in late January. Since I thought the problem was fixed I tried to place a buy order for one of the grandkids that has a early February birthday. That order also gave me the same error message about not being available at this time. I have tried several time since then with no luck. I have called "customer service" several times about this and gotten no answers as to what the problem is or when it might be fixed. My next step is to close all 8 accounts and find a new company that offers a DRIP purchase plan thru a different agent than EQ Share. Has anyone else experience this problem? I know there are many companies that offer DRIP account options but I am finding many of the better options are also managed by EQ Share. Any other option suggests?
Claim your business profile now and gain access to all features and respond to customer reviews.
