Fund Portfolio

sunnyyorkshire

How do you withdraw money from the H-L Capital Account?
I know that it is linked to my normal bank account, but I can't see anywhere on the H-L site where I can move money out. (Only put money in!)

Aegis

sunnyyorkshire wrote: »

How do you withdraw money from the H-L Capital Account?
I know that it is linked to my normal bank account, but I can't see anywhere on the H-L site where I can move money out. (Only put money in!)

I've never tried. I'd recommend giving them a call to ask.

sunnyyorkshire

Aegis wrote: »

I've never tried. I'd recommend giving them a call to ask.

Yes will do.
I was going to buy some JupiterAbsolute Return funds, but decided against it at the last minute!

Jake'sGran

Lokolo wrote: »

Funds you should be using Hargreaves Lansdown, not stock brokers such as TD Waterhouse, iii etc.

Just wanted to agree with this. I have used them for years now and apart from the CEO sending me the most sarcastic letter I have ever received (I had written that they had to stop calling me MR) I have not been able to find better terms i.e. no initial fee and a bit of the commission they receive.

cloud_dog

sunnyyorkshire wrote: »

How do you withdraw money from the H-L Capital Account?
I know that it is linked to my normal bank account, but I can't see anywhere on the H-L site where I can move money out. (Only put money in!)

http://www.h-l.co.uk/faqs/contact-us/how-can-i-withdraw-money-from-the-account

"IIn order to withdraw cash from the Vantage ISA and Fund & Share Account we would require you to send us a signed letter of instruction. Or, if you prefer, you can complete and return a Cash Withdrawal Form. If you provide us with your bank details (account number, sort code, and if applicable the building society reference number) we can arrange a direct payment of this money by BACS. Alternatively, we will send you a cheque."

Obviously more keen to get money in than let you have it back.

sunnyyorkshire

cloud_dog wrote: »

http://www.h-l.co.uk/faqs/contact-us/how-can-i-withdraw-money-from-the-account

"IIn order to withdraw cash from the Vantage ISA and Fund & Share Account we would require you to send us a signed letter of instruction. Or, if you prefer, you can complete and return a Cash Withdrawal Form. If you provide us with your bank details (account number, sort code, and if applicable the building society reference number) we can arrange a direct payment of this money by BACS. Alternatively, we will send you a cheque."

Obviously more keen to get money in than let you have it back.

Well spotted! I searched the site and could find no reference.
Why on earth don't they allow electronic transfers to and from the linked accounts, initiated via the online account???
As you say, much easier to put money in...

cloud_dog

They have many, how should I put it.... idiosyncrasies, which are very strange in this modern online world.

I'll never forget when I opened the account (not sure if it still the same) but, you had to write down the password n the application form - very unsecure. I tried to discuss this aspect with them but they weren't having it, basically said "do it this way or go somewhere else".

sunnyyorkshire

cloud_dog wrote: »

They have many, how should I put it.... idiosyncrasies, which are very strange in this modern online world.

I'll never forget when I opened the account (not sure if it still the same) but, you had to write down the password n the application form - very unsecure. I tried to discuss this aspect with them but they weren't having it, basically said "do it this way or go somewhere else".

Many good idiosyncrasys too though, as a new customer I was impressed with them not following the bandwagon for using 0845 telephone numbers, not having a silly automated switchboard, maintaining a freepost correspondance address, ability to speak with a real person...
These things were once the norm and called 'good customer service', but now they seem just peculiar to H-L!

1socrates1

Would you trade shares through H-L as well, or are they best for dealing with OEICs solely?

Aegis

1socrates1 wrote: »

Would you trade shares through H-L as well, or are they best for dealing with OEICs solely?

They're more expensive than they need to be for OEICs. HSBC run a trading account at about £12 flat fee per transaction with no holding costs. H-L will beat that for trades of less than £500, but you'd likely not want to trade as little as that. For more regular investing, I believe Halifax offer a very cheap monthly purchase option.