Dividend Direction Service

What is the Westpac Dividend Direction Service?

Our Dividend Direction Service (DDS) allows you to have your dividends paid directly to your linked Westpac Cash Investment Account (CIA) and will save you the hassle of nominating a bank account with the various share registries.

This service offers you the convenience of having your CIA automatically nominated to receive the dividends from all your current CHESS sponsored holdings. We will provide your CIA details to the share registries of each CHESS sponsored holding and this bank account will automatically be nominated each time you purchase or transfer in new securities.

Piggy Bank Illustration

Want to participate in our DDS but don’t have a Westpac Cash Investment Account?

Applying for a CIA is easy and can be done in a few simple steps! Go to Products & Services > Cash & Lending > Cash Investment Account and click on ‘Open account’ and follow the steps. Once opened it will automatically be linked as your new settlement account.

How do I Opt in/out?

  1. Select My Account > My Portfolio > Holdings & Accounts

  2. Click on the Account Details tab and locate the section titled Dividend Direction to make change.

    Account Details Location
    Dividend Direction
    • If “Paid into settlement account electronically” is selected, then you are opted in to DDS, and therefore Dividend Direction is active.
    • If “I will contact relevant share registry/ies to change dividend payment instructions” is selected, you are opted out of DDS, and therefore Dividend Direction is not active.
  3. Select the changes based on your preferences and click the Save Dividend Direction button to confirm your changes. Please note your changes can take up to 48 hours to be completed.

Opting into DDS will not affect any existing instructions you have given to the share registry/ies in relation to a dividend re-investment plan, as dividend re-investment plan nominations take priority over cash dividend payments.

If you wish to cancel a dividend re-investment plan and start receiving cash dividends, you will need to contact the relevant share registry/ies directly.

Opting out: If you previously opted in to the DDS and have chosen to opt out, your Westpac Cash Investment Account will remain the nominated bank account for cash dividends with each share registry. If you would like your future cash dividends to be paid to a different bank account please contact each share registry to make this change.

For more information about our Dividend Direction Service please contact us on 13 13 31 or refer to the Westpac Securities Terms and Conditions.

This information is intended to provide information for educational purposes only and is subject to change at anytime without notice.