Halifax Share Dealing Service

anna42hmr

sabretoothtigger wrote: »

Says the same for me and Ive had it over a year. Probably related to laundering regulations

thanks for checking, will give them a ring on monday and give them the new card number

noh

Yes it has always been like that had my account for nearly 10 years.
It's a security measure.

consumer

anna42hmr wrote: »

does any one else use the sharebuilder part (where it takes out a set amount on a certain date of an account you nominate and then invest the money on a date a few days later)

is the money meant to come out of my current account and into the dealing account overnight?? as mine is meant to come out on 19th for this month and shares to be bought on 22nd however it has not been taken out of my current account (natwest) yet or showing as earmarked funds etc?? or is it done later in the day??

Edit: just checked again and its come out now (just after 8am)

I've been using sharebuilder for long...it is a very good service for small amount investments.....iii also offers similar service...Advantage is dollar cost averaging (or pound cost averaging)...

Dealing charges are fixed £1.50 Plus Stamp duty...and for £50 investment, it comes as 3%....plus stamp duty....

You decide the frequency of investment and which date of the month you want to invest...and money gets debited from nominated bank account 3-4 days prior to investment date....

sabretoothtigger

I think 3% is still too high a percentage. In normal times the average ftse growth per year is only 3%, so thats a pretty high price to pay in order to get an average.
Stamp duty is another 0.5% and there is the cost of selling also which is higher.

Obviously a profit is still possible especially on more volatile shares but the odds against this rise with the costs

I think 1% buy in cost is more reasonable. Of course iii will not charge for a dealing cost and you could buy only £20 per time with them, it would charge £10 to sell


I used cost averaging all through last autumn and winter, good for low confidence and bear markets but right now its harder to justify the higher % costs so I would opt for 150 every 3 months instead in this particular example

anna42hmr

thanks all, called up and changed the account details this morning.

black_taxi_2

best to phone them

once set up

you can see all details ---in your account/history/dates/trades/valuation

i do a monthly share builder==investment trust isa

anna42hmr

gone online this morning and the account and card number has not changed yet, anyone know how long it takes for the change in payment details to take affect?

sabretoothtigger

I would expect it to be immediate but not actually sure, ask them. The direct debit side of things would be like a week at least so maybe its connected to that and works both ways

anna42hmr

thanks, i was thinking of ringing, but havent got the pass code number to quote over the phone for security so will have to leave it till later tonight or remember to bring it to work with me tomorrow. thought i would post on here incase anyone knew the answer in the meantime

sabretoothtigger

You can send them an email or theres a button for a web chat as well till 8pm. under Important Information
I think its a week time frame because they contact your bank to check you are the owner of the card details and setup the direct debit