Natwest stocks and share account cost me £430 in a week! I'm on the verge of crying!

jonj123

Hi

I opened a Natwest stocks and share account last month however after recommendations I received on this forum I decided to cancel the account after a week of opening it. I initially invested £25,100. Today I received a check for £24,670 so I basically lost £430 for having my account opened for a week! I tried contacting them to see why this is but they're not open until Tuesday.
I can only assume that the share prices went down by a significant amount for me to lose this sum of money.
I am so so frustrated and am on the verge of crying. Is there any way I could possibly get my original investment back? Please advise.

Thanks in advance

opinions4u

Is tihs a wind up?

You invested in shares.

They went down (by less than 2%).

You cashed in.

If you're devastated by such a tiny change in share prices you need to stick your money in a savings account next time.

You had previosuly posted "I am thinking of investing about £25000 in the Natwest Adventurous stock and share account which charge a 5% upfront fee. Is now a good time to invest in such account and are there any better investment accounts?" - to me adventurous suggests higher risk. Your post suggests you are unable to cope with any risk.

chris_m

opinions4u wrote: »

Is tihs a wind up?

I've a suspicion it's not - just an unfortunate lack of understanding as to what an S&S ISA is.

xrjtg

It will probably be some combination of market falls, dealing fees and initial charges. Unfortunately, it's unlikely you'll be able to claw the money back.

Did you do much with the account? Was the money invested, or sitting in a holding account?

dunstonh

I can only assume that the share prices went down by a significant amount for me to lose this sum of money.

Yes. It hasnt been a good fortnight.

I am so so frustrated and am on the verge of crying. Is there any way I could possibly get my original investment back?

No. Investments go up and down in value. When you invested, you accepted that they will go down as well as up. That is what has happened. You invested in a down period and if you are not invested now you will not benefit from the next up period.

2% loss is very small. If that amount has scared you then perhaps its a good idea you are not invested in the stockmarket. It wont be charges as none are made during the cancellation period.

jonj123

xrjtg wrote: »

It will probably be some combination of market falls, dealing fees and initial charges. Unfortunately, it's unlikely you'll be able to claw the money back.

Did you do much with the account? Was the money invested, or sitting in a holding account?

There was a 30 day cancellation period so I must have got the initial charges back (5% of investment). I literally had the account opened for a week before I decided to close it down thinking I'll get my original investment back.

xrjtg

The general rule with cancellation of investments in cooling off periods is that charges are refunded but the capital returned is the current value of the investment: this could be higher or lower that the original amount.

cashbackproblems

As pointed out all it takes is a few % drop and you will be down by a few hundred, out of interest didnt see you the balance on your account and why did u sell it after a few days? Plus uv gota factor in stamp duty, buying/selling fees etc and ur shares probably werent even that bad.

Let it be a learning curve and in future stick to safer stock e.g. ftse 100, also recommend using iii.co.uk as a broker.

chris_m

dunstonh wrote: »

Yes. It hasnt been a good fortnight.

It sure hasn't

Darth_chaffinch

Natwest charge the earth for anything share-trading-related from my limited experience!!! Avoid!

Cleaver

jonj123 wrote: »

Hi

I opened a Natwest stocks and share account last month however after recommendations I received on this forum I decided to cancel the account after a week of opening it. I initially invested £25,100. Today I received a check for £24,670 so I basically lost £430 for having my account opened for a week! I tried contacting them to see why this is but they're not open until Tuesday.
I can only assume that the share prices went down by a significant amount for me to lose this sum of money.
I am so so frustrated and am on the verge of crying. Is there any way I could possibly get my original investment back? Please advise.

Sorry that you haven't had a good experience with this, but it sounds as though you may have learned a lesson. You've got back less than you put in because the markets have fallen over the last couple of weeks.

If the fund / product you had invested in had gone up about 2% in the last fornight and they had sent you a cheque for around £26,000 you wouldn't be complaining, would you?