Iii

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Comments

  • darren72
    darren72 Posts: 1,288 Forumite
    First Anniversary First Post Combo Breaker
    juliamarsh wrote: »
    They will take it from the first cash contribution you make into the SIPP, without any prior notification and without giving you the opportunity to put cash into your trading account to cover the fee.

    You are spot on, just noticed that the amount of cash creditted to my account from my previous provider was £204 less than it should have been.

    This I presume must be the annual fee. It would have been nice for them to have said something.....
  • juliamarsh
    juliamarsh Posts: 365 Forumite
    First Post First Anniversary Combo Breaker
    darren72 wrote: »
    You are spot on, just noticed that the amount of cash creditted to my account from my previous provider was £204 less than it should have been.

    This I presume must be the annual fee. It would have been nice for them to have said something.....

    I would check if I were you, as I am pretty sure the annual fee is £144 so £204 would be too much - probably just another error on their part! :rotfl:
  • darren72
    darren72 Posts: 1,288 Forumite
    First Anniversary First Post Combo Breaker
    juliamarsh wrote: »
    I would check if I were you, as I am pretty sure the annual fee is £144 so £204 would be too much - probably just another error on their part! :rotfl:

    I think it is the £144 annual fee plus £60 transfer in charge (for transferring the SIPP from another provider).
  • Financial_Saddler
    Financial_Saddler Posts: 66 Forumite
    darren72 wrote: »
    Thanks - I'll work through it and double check later.

    From experience when is the fee normally taken ? - During the transfer in process ?

    Thanks

    So are you now saying that II have in fact taken both the annual fee ( £144 ) and the transfer in fee ( £60 ) without having the professional courtesy to notify you of that fact...
    Welcome to their world!
  • darren72
    darren72 Posts: 1,288 Forumite
    First Anniversary First Post Combo Breaker
    Financial_Saddler wrote: »
    So are you now saying that II have in fact taken both the annual fee ( £144 ) and the transfer in fee ( £60 ) without having the professional courtesy to notify you of that fact...
    Welcome to their world!

    Yes, they have taken the fees from my cash transfer - the fees aren't even broken down on my statement history, it just shows a credit which is £204 less than it should have been - which is why I hadn't noticed it before now.
  • juliamarsh
    juliamarsh Posts: 365 Forumite
    First Post First Anniversary Combo Breaker
    darren72 wrote: »
    Yes, they have taken the fees from my cash transfer - the fees aren't even broken down on my statement history, it just shows a credit which is £204 less than it should have been - which is why I hadn't noticed it before now.

    So unprofessional!
  • planteria
    planteria Posts: 5,321 Forumite
    First Anniversary Combo Breaker First Post
    i had some fun over the SIPP fee at the outset.. there was no cash in my SIPP, and i credited the fund with some cash to avoid units being sold, as they requested. they then told me that i needed to pay it to a different account. they couldn't move it...so they refunded me & paid it to a different sortcode and account number for them:think:
  • inflationbuster
    inflationbuster Posts: 250 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    Long time lurker to this thread.

    I've had an III account since 2008 (then it was running on the HBOS platform).

    I actually like the new platform apart from initial teething problems such as a missing dividend, slow payment (which appears to be rectified for shares) but dividend re-investment still happens a day later. The quarterly fee does not bother me as i'm an active investor so use the credit up every quarter.

    Just recently l got paid my Sainsbury dividend in my ISA and l have DRIP enabled. Problem is DRIP failed because they took the £20 quarterly charge prior to DRIP :mad: then l got a message telling me DRIP failed. I wanted them to reverse the fee and take the money from my bank account but no call back to confirm if this is possible.

    This is a glaring platform bug. The platform already knows l have DRIP enabled so why take the fee from my ISA when it should know there's not enough money in the account to perform the DRIP and cover the fee?

    I also have a problem with a US stock that all of a sudden l can suddenly no longer buy or sell as apparently it no longer settles in Crest :(

    I like the platform in that it does the basic stuff fine over the HBOS version that charged for limit orders but i'm slowly getting fed up.

    Rant over phew.
  • le_loup
    le_loup Posts: 4,047 Forumite
    inflationbuster wrote: »
    This is a glaring platform bug.
    No it isn't.
    It's III's business model.
  • xylophone
    xylophone Posts: 44,286 Forumite
    Name Dropper First Anniversary First Post
    shear blind luck

    Not operating shears when blind one hopes ( sheer recklessness)...or can that be the explanation.....:D

    I have not yet received my Invesco Perpetual Distribution dividend but won't be too fussed as long as it appears this week (Christmas indulgence)!

    That said, a relative is getting rather exercised about missing payments due a couple of weeks ago.:mad:
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