shares disappeared and bill presented Self-trade

SSTEPHANIE

Many years ago I joined self-trade, an online share dealing company. I got my free bottle of champagne and bought some shares. Then one year self-trade sold some of the shares without me knowing to pay a 'subscription/administration' charge which up until then they had not done. I telephoned, and they told me they had rolled this out as a tester, but would not be doing it again, so i let it pass, and have had no charges since. Last autumn I telephoned as I knew the shares were plunging and was told they could not discuss ANYTHING on the phone and I should write to them. I did this and was ignored, I telephoned again, and again was told they would not discuss a single thing on the telephone and I should write. Then this week I receive a notice from them that there are NO shares and I owe them £41 plus. Are they allowed to do this without informing me, can I appeal against this, it seems like daylight robbery to me and I really have taken umbridge. Any comments would be gratefully received. At the end of the day if given a choice I would have paid a fee and kept the worthless shares !:(

Lokolo

They started charging an admin fee quite a while ago. I assume they sold your shares in order to cover their costs.

They did inform everyone I believe and it has not impressed a lot of customers!

KingL

not sure of the answer to your question, but if you haven't already done so, you should have a look at the extensive thread on Selftrade introducing account fees over in Savings and Investments (here)

edit: they nabbed some money out of my ISA the first year (as there weren't sufficient funds in my trading account to cover the fees. I checked the revised T&Cs at the time and they did cover the fact that they would do this).

Optimist

You need to go through Selftrades complaint process which will get you no where but it is something you have to do before you can refer it to the Financial Ombudsman which might