The Coles Team Member Share Plan lets eligible Coles employees buy shares in the Coles Group. They can make regular payments through pre-tax salary deductions, which means money is taken directly from their pay to buy the shares. This plan is managed through EquatePlus, a platform that helps participants easily handle their shares online in real time. So if someone is seeing charges or deductions from EquatePlus, it's likely for managing their Coles shares as part of this plan.
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The process to cancel or stop salary sacrifice for the Coles Team Member Share Plan is relatively straightforward, often requiring contacting Computershare or the employer directly. There is limited explicit information, but based on similar plans, users generally can end their participation by notifying their payroll or plan administrator, which is not overly difficult or complex.
Estimated Time
On average, it takes 10 minutes 00 10 minutes to cancel a Coles Team Member Share Plan subscription.
How to Cancel Coles Team Member Share Plan: Step by Step
If you purchased through EquatePlus:
- Log In to Your Account: Go to the EquatePlus website and log in using your User ID and password. If you have Single Sign-On (SSO), you will be prompted to set an EquatePlus password during login.
- Locate the Product: Once logged in, navigate to the section where your products or plans are listed.
- Cancel the Product: Look for a "Cancel" or "Close Account" option related to the product you wish to cancel. This might be labeled as "Cancel Contract" depending on your specific plan.
- Confirm Cancellation: You will likely need to confirm your decision to cancel. Follow any prompts to complete the cancellation process.
- Contact Support (If Needed): If you encounter any issues or need assistance, contact EquatePlus customer service via phone at (781) 575-4534 or email at equatemobile-support@equatex.com.
If you need assistance, here's how you can get in touch with Coles Team Member Share Plan's support team.
Phone
The phone is not available.
Site
The site is not available.
Tips and Tricks for Getting a Coles Team Member Share Plan Refund
- Contact HR directly: Many users find going straight to HR or the payroll department yields quicker results than trying to manage cancellations through payroll alone.
- Use clear, firm language: Phrases like "I am formally requesting to cancel my participation immediately" have been reported as effective.
- Provide written proof: Following up verbal requests with a written email or letter helps ensure there is a record of your cancellation request.
- Escalate if ignored: If initial requests are not acknowledged, escalate to higher management or union representatives who can intervene.
- Time your cancellation around payroll cycles: Submit requests at the start of a pay period to prevent unwanted deductions.
- Keep copies of all communication: Documentation is useful if disputes arise over whether cancellation was processed in time.
- Ask colleagues for tips: Fellow employees who have successfully cancelled can provide insights on specific contacts or approaches that worked.
- Be persistent but polite: While persistence often pays off, maintaining professionalism helps keep communication channels open.
Why Do People Request Refunds from Coles Team Member Share Plan
- Fear of share price decline - Shares are often locked for a few years, so if the price falls, participants may suffer a loss.
- Forcible sale of shares upon leaving - If members leave Coles and forget to nominate what happens to their shares, shares may be forcibly sold, sometimes resulting in dissatisfaction despite possible profit.
- Tax implications of tax-deferred plan - The tax-deferred nature of the plan can result in higher tax payable in future years if the participant's tax bracket rises, making it more expensive than purchasing shares outright at market price.
- Misunderstanding of salary sacrifice benefits - Some participants may misunderstand the financial benefits of salary sacrificing for shares, focusing on an apparent discount that may not exist due to tax deferral and market price considerations.
Coles Team Member Share Plan Refund Script
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Dear Coles Team Member Share Plan, Support,
I hope this message finds you well. I am writing to request a refund due to a billing issue that arose recently. I noticed an accidental charge on my account that I do not recognize, and I believe it may have been a mistake. I would greatly appreciate your assistance in processing this refund at your earliest convenience.
Thank you for your attention to this matter. I look forward to your prompt response.
Best regards,
Coles Team Member Share Plan Refund Policy
The Coles Team Member Share Plan allows eligible team members to purchase shares through regular pre-tax salary sacrifice deductions. Specific details about membership subscription or cancellation policies for the plan are not publicly detailed on the official pages or related EquatePlus login site. For precise cancellation processes, members are usually advised to manage their account through EquatePlus or contact Coles directly.
The Easiest Way to Get a Coles Team Member Share Plan Refund
If you’re frustrated trying to cancel your subscription, membership, or bill from Coles Team Member Share Plan—or if you didn’t even realize you were being charged—Chargeback can help. Chargeback is a personal subscription manager that automatically detects hidden, recurring charges like Netflix, Hulu, and hundreds of others. With one click, we can cancel unwanted subscriptions, flag suspicious billing, and even initiate refund requests on your behalf. No more waiting on hold or navigating confusing help pages. Just connect your bank or email account, and we’ll take care of the rest.
Start reclaiming your money today with Chargeback
COL TEAM SHARE PLAN COLES SHARE PLAN COL TM SHARE PLAN COLES TEAM SHARE PLAN EQUATEPLUS SHARE PLAN EQUATEPLUS PAYMENT
Editorial Note: These articles reflect the opinions of Chargeback's writers. Everyone's situation is unique; therefore, it is important to conduct your own research and note that our self-help tools are not guaranteed to help with any specific problem.
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