Denied Shareholder OBC

[rickays]

Have just been denied shareholder OBC for a cruise commencing 2 October 2023 because my brokerage statement dated 30 June 2023 is 92 days from commencement of cruise.  Next brokerage statement will not be available until 30 September by which time we will be already traveling to reach cruise and anyway that statement will be of no use because under rules I "must apply 4 weeks before commencement of cruise."  When I queried that they would deny Shareholder benefit for a matter of 2 days was told "Yes, our policy is: The date of the proof documentation must be within 90 days to sailing and

no later than 4 weeks prior to your sail date."  I am so angry!

[Kmkub]

Check with your broker. I have monthly statements for everything that I can download anytime. 

[PacnGoNow]

8 minutes ago, rickays said:

Have just been denied shareholder OBC for a cruise commencing 2 October 2023 because my brokerage statement dated 30 June 2023 is 92 days from commencement of cruise.  Next brokerage statement will not be available until 30 September by which time we will be already traveling to reach cruise and anyway that statement will be of no use because under rules I "must apply 4 weeks before commencement of cruise."  When I queried that they would deny Shareholder benefit for a matter of 2 days was told "Yes, our policy is: The date of the proof documentation must be within 90 days to sailing and

no later than 4 weeks prior to your sail date."  I am so angry!

Call your broker, they can send you what you need. I’ve done this before. 

Edited August 16, 2023 by PacnGoNow

[kitty2264]

That seems strange indeed. For the past few years Princess has been very lenient about lead time to submit SOBC request.  We have our upcoming cruises for Jan and Apr and both have OBC applied already.  For the last several cruises we have submitted our documentation as soon as the cruise is booked and it has worked fine.  I would maybe resubmit the request and maybe a different person would process it this time.

[coo359a2]

I have never submitted what I call a brokerage statement (from Edward Jones) to get the shareholder OBC.  My guy prints out a page called - Holding Details - which has the brokerage name, date printed, our names and address, and information on our CCL account including the quantity.  I white out the Acct # and a few other items listed.  

 

I can request the Holding Details page from him at anytime and go pick it up from him.  Have been using the Holding Details page since 2016 to get credit for the shareholders OBC.  Last month,  I submitted an email with the required information and inserted  a copy of the Holding Details into the body of the email so that I didn't have to add it  as an attachment to the email.  This was for six cruises is the spring of 2024.

[Guest ldtr]

1 hour ago, kitty2264 said:

That seems strange indeed. For the past few years Princess has been very lenient about lead time to submit SOBC request.  We have our upcoming cruises for Jan and Apr and both have OBC applied already.  For the last several cruises we have submitted our documentation as soon as the cruise is booked and it has worked fine.  I would maybe resubmit the request and maybe a different person would process it this time.

Lenient in the US.  Not so much in other countries. OP is in Australia.

[capriccio]

I just log into my Vanguard account and make a screenshot of my current holdings in CCL.  It has the date and all the required information.  After blacking out my account number, I insert it in the body of my email following our names, the booking number, the ship’s name, and dates of the cruise.  It takes less than 5 minutes.

Edited August 16, 2023 by capriccio

[startedwithamouse]

50 minutes ago, rickays said:

Have just been denied shareholder OBC for a cruise commencing 2 October 2023 because my brokerage statement dated 30 June 2023 is 92 days from commencement of cruise.  Next brokerage statement will not be available until 30 September by which time we will be already traveling to reach cruise and anyway that statement will be of no use because under rules I "must apply 4 weeks before commencement of cruise."  When I queried that they would deny Shareholder benefit for a matter of 2 days was told "Yes, our policy is: The date of the proof documentation must be within 90 days to sailing and

no later than 4 weeks prior to your sail date."  I am so angry!

Go into your account and print a current holdings statement. Ours are available on demand, showing amount of shares owned and current value. Cover up any account numbers on the printout. 

You perhaps should look into a new brokerage if they're only giving you quarterly access viewing your holdings.

Edited August 16, 2023 by startedwithamouse

[sunviking90]

This is surprising. We literally bought our shares 2 weeks before our cruise last January and only submitted the purchase transaction statement. I have it saved to my files and that’s all I’ve used ever since, most recently for our April 2024 cruise. 

[rickays]

Yes this is the Australian rules also the first time they have not accepted brokerage statement that is out by a couple of weeks. I cannot request a statement at any time they are only issued every 3 months. I can use a screen print but that is also rejected because it doesn’t include my full name only my account number which must be blanked out.  And we certainly cannot request OBC for cruises next year. Try to escalate this from customer (not) service and get told no one can help, if we email we don’t receive a reply. There is no way to speak to anyone who actually knows anything.

[startedwithamouse]

2 minutes ago, rickays said:

Yes this is the Australian rules also the first time they have not accepted brokerage statement that is out by a couple of weeks. I cannot request a statement at any time they are only issued every 3 months. I can use a screen print but that is also rejected because it doesn’t include my full name only my account number which must be blanked out.  And we certainly cannot request OBC for cruises next year. Try to escalate this from customer (not) service and get told no one can help, if we email we don’t receive a reply. There is no way to speak to anyone who actually knows anything.

How do you get into your account to find out the current value of your shares?  

 

The quarterly statement is keeping you in the dark financially.  This isn't 1980.  You should have daily access to your financial worth.

[Rick&Jeannie]

Well...if I were faced with this situation I would probably take a screen grab that has everything on it (minus your name, etc.) And use a graphics editor to add whatever is missing. Use the same font as the rest of the header info. The worst they can do is say "no" again.

[c-boy]

 🤔  somethings afoot here 

[Guest ldtr]

I would consider this a broker issue, not a Princess issue. Call your broker and tell them what you need and ask then to email it to you.

[startedwithamouse]

20 minutes ago, ldtr said:

I would consider this a broker issue, not a Princess issue. Call your broker and tell them what you need and ask then to email it to you.

Most definetely a broker issue.  

 

Your broker is making money off your account. They are working for you.

[BlerkOne]

Yes, this is a broker issue. Who is the broker?

[BobandLizM]

UK, always refuses unless within 90 days.  I have tried multiple times to get shareholder credit but always refused. However it always comes through quickly when I apply within the timeline.

I just send a screenshot of Fidelity or Interactive Investor, they only once requested a clearer photo.

[Ombud]

Oh no @rickays Lynda & Ken!! Do you have a broker you can contact? If so can you get an interim monthly stmt?? You're going to need the OBC now and next April (that one is also right after end of quarter).

[Steelers36]

5 hours ago, rickays said:

Yes this is the Australian rules also the first time they have not accepted brokerage statement that is out by a couple of weeks. I cannot request a statement at any time they are only issued every 3 months. I can use a screen print but that is also rejected because it doesn’t include my full name only my account number which must be blanked out.  And we certainly cannot request OBC for cruises next year. Try to escalate this from customer (not) service and get told no one can help, if we email we don’t receive a reply. There is no way to speak to anyone who actually knows anything.

It's ridiculous not to have a consistent international policy.  Princess North America relaxed the rules a long time back so that guests could use the OBC for booking excursions (when PCL started requiring excursion payments up front).  Does PCL Australia require payment for ship excursions at time of booking them?  

 

Otherwise, you have been treated extra harshly IMO since you can apply within 90 days, but to force the statement date to be within that as well is completely unreasonable.  Even with monthly statements, a guest may have to wait over half month extra to apply and barely get the OBC on record ahead of sail date and excursions probably need to have been booked and paid for earlier if popular. 

 

It is too bad if you cannot send your request to PCL HQ for processing instead of in Australia.  The old rule relaxed in N.A. market (at least there) does open the benefit to abuse (stock could be sold long before sailing date), but PCL is being very fair with customers IMO by allowing OBC way in advance.

[startedwithamouse]

1 hour ago, Steelers36 said:

It's ridiculous not to have a consistent international policy.  Princess North America relaxed the rules a long time back so that guests could use the OBC for booking excursions (when PCL started requiring excursion payments up front).  Does PCL Australia require payment for ship excursions at time of booking them?  

 

Otherwise, you have been treated extra harshly IMO since you can apply within 90 days, but to force the statement date to be within that as well is completely unreasonable.  Even with monthly statements, a guest may have to wait over half month extra to apply and barely get the OBC on record ahead of sail date and excursions probably need to have been booked and paid for earlier if popular. 

 

It is too bad if you cannot send your request to PCL HQ for processing instead of in Australia.  The old rule relaxed in N.A. market (at least there) does open the benefit to abuse (stock could be sold long before sailing date), but PCL is being very fair with customers IMO by allowing OBC way in advance.

 

Surprised Princess hasn't stopped the bleeding on this. Yes, guests could have sold stock long ago and still have it on the books. 

[antsp]

25 minutes ago, startedwithamouse said:

 

Surprised Princess hasn't stopped the bleeding on this. Yes, guests could have sold stock long ago and still have it on the books. 

I wonder if they can check you have the stock, 5 minutes on photo shop and you know what 

[Buckeye10640]

11 hours ago, rickays said:

Have just been denied shareholder OBC for a cruise commencing 2 October 2023 because my brokerage statement dated 30 June 2023 is 92 days from commencement of cruise.  Next brokerage statement will not be available until 30 September by which time we will be already traveling to reach cruise and anyway that statement will be of no use because under rules I "must apply 4 weeks before commencement of cruise."  When I queried that they would deny Shareholder benefit for a matter of 2 days was told "Yes, our policy is: The date of the proof documentation must be within 90 days to sailing and

no later than 4 weeks prior to your sail date."  I am so angry!

Thats a new one for me....I always submit mine early. Do you have  online account access? If so you should be ablexto download a statement at any time. 

[Mike07]

I think denied is a little harsh as your Australian office seems to be sticking to what's written in policy. I sort of get that despite you following the spirit of the policy.

Edited August 16, 2023 by Mike07

[Ombud]

3 hours ago, Ombud said:

Oh no @rickays Lynda & Ken!! Do you have a broker you can contact? If so can you get an interim monthly stmt?? You're going to need the OBC now and next April (that one is also right after end of quarter).

Just went onto my Schwab account & I can get request a current valuation letter with shares listed via online request. It's different than a monthly stmt. Can you get that with an Australian brokerage @rickays? I know Australia is different 

[sewgood]

12 hours ago, rickays said:

Have just been denied shareholder OBC for a cruise commencing 2 October 2023 because my brokerage statement dated 30 June 2023 is 92 days from commencement of cruise

I am on the Royal from Honolulu on the 2nd of Oct and I too have had my application rejected.

With the exact same wording as you.

My last statement is from the end of June and no further statements will be available until the end of September which will be too late to submit.

I contacted my broker Comsec and here is a bit of (maybe) relevant information from a rather long winded reply.

This does mean that until the point in time when we can allow clients to opt-in for the eStatements, you will continue to receive CHESS statements via post in the month following any movement of units on your CommSec account.

 

So what I will do today is buy a few CCL shares ( to make a movement of units as they said in the email) and see if get a new statement at the end of the month. Hopefully it will appear online in my account and I can send a copy of that in time for the now increased deadline of 4 weeks before the cruise.

Princess Australia has definitely changed things for the shareholder's OBC and are really making it hard to get.   I've never had any trouble like this before.