DESPP Withdrawal (UPS Stock)

Discussion in 'UPS Discussions' started by Reywas3, Mar 12, 2020.

  1. Reywas3

    Reywas3 New Member

    Does anybody know how to withdraw your money set aside for DESPP in your paycheck before it is invested in UPS Stock?

    The investment period starts at the end of this month, but I want to take my money out before that happens so I can receive it like a paycheck. Both computershare and payroll have told me the issue is with the other side.

  2. ManInBrown

    ManInBrown Well-Known Member

    Are you crazy? The stock is in the tank. Don’t withdrawal now.

    edit. Misunderstood your post. Are you saying you want to stop buying stock thru paycheck deductions? You do it on the computershare website. You cannot take back the money you have already set aside. That money is gone. You can prevent future deductions.
  3. Reywas3

    Reywas3 New Member

    is there some proof/documentation that the money set aside is gone? I thought i read that it could be cashed out (that was my question)

    but yes i would be crazy to withdraw now if i actually owned any ups stock
  4. DOK

    DOK Well-Known Member

    You should just let the purchase go through, the stock will be in $40 range by the March 31st purchase if it keeps going like this.
  5. olroadbeech

    olroadbeech Happy Verified UPSer

    keep buying. you'll be glad in long run.
  6. Reywas3

    Reywas3 New Member

    I'd rather buy an etf with the money
  7. olroadbeech

    olroadbeech Happy Verified UPSer

    well you have all the answers so why bother asking?

  8. Why?
  9. CoffeeStainedUniform

    CoffeeStainedUniform Active Member

    Yeah, buying UPS stocks are a low yeald 2 year commitment. The dividend is nice but the discount offered is not enough to justify the hoops and fees with conversion/sale.

    An ETF is better for most people.

    *Disclaimer- I regularly buy UPS stocks but NOT because I think it's a very good investment
  10. MyTripisCut

    MyTripisCut “They” are coming for us.

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  11. MattM

    MattM Active Member

    Op, do you know how stocks work? I don't think you can just reneg on a deal because it doesn't perfectly match your parameters. There would be minimal investors using DESPP if that was the case. That's pretty much why there's a 5%? Discount and a two year wait. That's the risk. You're locked in at end of qrt final Bell on Friday#s.

    Now I know you can just change your payroll deduction to zero, but it may take 7-12 days. Same with additions. Earlier this week would be the time to dump serious money in but the risk is you're waiting for March 31st #s.

    When I first started mine, I had issues because I did not enroll and set an amount before the new quarter had started. I enrolled in January and had to wait until April to start the deductions. So jumping in and out Willy nilly may not exactly be possible.
  12. burrheadd

    burrheadd KING Of GIFS

  13. Reywas3

    Reywas3 New Member

    I was under the impression that before the money was invested (end of March) it could be withdrawn like a regular paycheck. Its just sitting there. I guess I was wrong
  14. olroadbeech

    olroadbeech Happy Verified UPSer

    call them. no intelligence on the brown cafe.
  15. Reywas3

    Reywas3 New Member

    I did. One told me it was a payroll issue the other told me it was automatic enrollment. Neither sounded totally confident in their answer. Payroll told me it was a computershare/website issue.

    I decided to accept it and move on. I'm just here for someone who may know the answer for sure.