Hargreaves Landsdown - new charges

Sparky47

competitionscafe wrote: »

You can withdraw the Loyalty Bonus online after the first withdrawal (which you can do by phone or post - I did mine by post). They will then put the option to withdraw into your bank account on your online account.

Where do you find this option ?
I have withdrawn my loyalty bonus several times by posting the form and also done it by phone, but I have never seen the facility to do it online.

cashbackproblems

Overal for those of us buying funds monthly the max annual charge reduction is surely positive.

gadgetmind

I have just hunted for the option to withdraw the loyalty bonus online and can't find it. However, I'll never run out of HL postage paid envelopes!

Rollinghome

I asked a couple of years back if I could get the bonus transferred online to avoid the faffing or even have a standing arrangement to do it everytime it reached say £50. Was told they intended to implement online transfers in the few months. They never have. Presumably having the dosh sitting in their account for as long as possible buys Mr Hargreaves a few extra cigars.

dunstonh

I have just hunted for the option to withdraw the loyalty bonus online and can't find it. However, I'll never run out of HL postage paid envelopes!

Obviously, we cannot second guess what is going to happen.

However, it appears that some of the platforms are going to operate "legacy" business on the old platform (with rebates etc) but all new business will be done on the new platform (without rebates but with explicit charges - ie unbundled). You will be given the choice of which platform you want to stay on. If you stay on the old one, you wont be able to increment or fund switch without that forcing a change to the new platform. The impression so far is that those dong it that way wont allow you to mix and match both methods. However, theoretically I cant see why it wouldnt be possible other than for cost reasons (especially as most unbundled platforms set their charges on a tiered structured based on how much you have on platform).

competitionscafe

Sparky47 wrote: »

Where do you find this option ?
I have withdrawn my loyalty bonus several times by posting the form and also done it by phone, but I have never seen the facility to do it online.

Apologies - I was mistaken on this. Just checked and I withdrew my loyalty bonus by sending in the form but the later /second withdrawal was of some cash in my share account not of loyalty bonus cash. Sorry!

So either phoning or sending in the form remain the 2 options. I too have an ample supply of HGL postage paid envelopes.

jamesd

cashbackproblems wrote: »

Overal for those of us buying funds monthly the max annual charge reduction is surely positive.

There is no cap on the commission taken by HL for funds that pay it commission.