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isa's share administration charge
metso
Posts: 100 Forumite
I have a barclays investment isa that was setup years ago.
with a total value of £504, for which I receive a dividend of approx £20 per six months.
however I also receive an administration charge of £18 per six months which eliminates any profit made on the dividend.
To transfer out costs £30 and closing the account costs £50.
Does anyone have any suggestions on how I can make this cost effective
Thanks for your advise.
with a total value of £504, for which I receive a dividend of approx £20 per six months.
however I also receive an administration charge of £18 per six months which eliminates any profit made on the dividend.
To transfer out costs £30 and closing the account costs £50.
Does anyone have any suggestions on how I can make this cost effective
Thanks for your advise.
0
Comments
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If you sell the shares and buy a fund from their supermarket, they'll charge £12.95 for the sale but they'll stop charging the admin fee.
They'll get a percentage from the fund house, usually about 0.75%, which on £500 is a lot less than the £36 flat rate.
But the world is changing, and it remains to be seen what they're going to do about it."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0
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