Quick Q re: Halifax S&S ISA regular investments
Snakey
Posts: 1,174 Forumite
If I want to pay at the cheaper rate of £2 per trade for regular purchases, the tab I need to select is "sharebuilder and regular investments" and not e.g. the one that says "tradeplan". Correct?
Out of interest, would I be able to go in and change the amounts each month and still have it count as a regular investment (for the cheaper fee), or do I need to leave it alone once I've set it up and have the same amount going out each month?
I ask because I find myself with a surplus £1,500 in the account after investing my initial lump sum (being overly cautious - unsure whether the charges would be gross or net or whether I'd missed a fee or anything), and ideally I'd like to invest that together with my first monthly payment and not have to divide it up over the rest of the year in order to have every amount be the same.
Apologies for what is probably a stupid question. I'm new to this.
Out of interest, would I be able to go in and change the amounts each month and still have it count as a regular investment (for the cheaper fee), or do I need to leave it alone once I've set it up and have the same amount going out each month?
I ask because I find myself with a surplus £1,500 in the account after investing my initial lump sum (being overly cautious - unsure whether the charges would be gross or net or whether I'd missed a fee or anything), and ideally I'd like to invest that together with my first monthly payment and not have to divide it up over the rest of the year in order to have every amount be the same.
Apologies for what is probably a stupid question. I'm new to this.
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Comments
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If I want to pay at the cheaper rate of £2 per trade for regular purchases, the tab I need to select is "sharebuilder and regular investments" and not e.g. the one that says "tradeplan". Correct?
yes.
("tradeplan" is for placing orders with price limits.)
you can change it every month.Out of interest, would I be able to go in and change the amounts each month and still have it count as a regular investment (for the cheaper fee), or do I need to leave it alone once I've set it up and have the same amount going out each month?0 -
I've recently transferred a couple of cash ISAs to my Halifax S&S ISA. I make regular monthly payments into the S&S ISA and benefit from the £2 charge. When my cash ISAs transferred across I just kept them in the cash part of my S&S ISA. The transferred funds and my regular monthly subscription were then used to buy units in my chosen fund when we reached the scheduled day of the month for buying units in the fund.
The important bit is to set up the purchase of the units as 100% of what's in your cash account rather than a certain amount of money. Halifax will then just use 100% of what's in your cash account to buy units (or individual shares).0 -
Very useful - thanks! I'd set it up as a monetary amount but I'll go in and change it. 100% sounds a whole lot easier.
Supplementary question, if I may: if all the cash goes into units each month, what happens when the annual charge of £12.50 falls due? Is that taken directly from my feeder bank account, or do they sell units (and charge me for selling them) to pay it?0 -
They take it from your bank account.0
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Heh, while in there changing my instructions I noticed that I've lost £1,100 of my £75k investment in less than a week. Woohoo!!
Note to self: stop bl00dy looking!!!!
This is another great reason to set up a "fire and forget" regular investment plan. Other than perhaps sneaking in in a month or so to make sure it's doing what I expect it to do (in terms of funding and investing the right amounts), I shall avoid the site until next April when I will need to update the funding instruction for the new ISA limit.0 -
does anyone know what happens if you setup a regular investement to take 100% of whats in cash, and there is nothing there? I am thinking I can just transfer cash in when I want an investment, and just pay the lower fee even if its only once a year.
Will that work ?0
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