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iii introducing quarterly £20 charge
OneADay
Posts: 9,031 Forumite
What a bunch of .... - I mean I have very small share holdings and today they send me an email (not even a letter but an email) telling me they are introducing £20 quarterly charge from 1st July 2012.
No option than to sell - shareholding so small, not worth transferring out.
No option than to sell - shareholding so small, not worth transferring out.
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I expect to see all platforms starting to do this but £80pa is a tinge savage for unwrapped (I guess?) holdings.
In your position, I'd be demanding the waive dealing fees on your disposals and/or issuing paper share certificates.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
Dam, I should have just transferred out last autumn it seems like when it was free
Hopefully we get a wild share boom before july 1st and I can just sell them all0 -
sabretoothtigger wrote: »Hopefully we get a wild share boom before july 1st and I can just sell them all
Um, do you *like*capital gains tax? Having to sell unplanned is my worst fear, and I regularly wake with night sweats at the thought of corporate actions without a loan note option.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
AFAIK the £20 qrtly does not apply to isas only trading a/c and includes 2 'free' trades per quarter - so maybe not as bad as it first appears?0
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Maybe I can convert my normal account to isa and do an interest transfer free
Im not often in danger of CGT, I have plenty of losses to offset
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sabretoothtigger wrote: »Im not often in danger of CGT, I have plenty of losses to offset
That's the last time I pay *any* attention to your share tips!
:rotfl:I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
Isn't this inevitable?
It obviously costs them money to maintain share accounts.
So how long are they going to do it for nothing?“It is difficult to get a man to understand something, when his salary depends on his not understanding it.” --Upton Sinclair0 -
I haven't had an email from them yet, however the way I read it on iii is that the new charge will be £20 per client per quarter. If you have an ISA &/or trading account you will get one quarterly charge.
SIPPs won't have this fee charged, but I think ISA's will. Am I wrong?0 -
Trentenders wrote: »I haven't had an email from them yet, however the way I read it on iii is that the new charge will be £20 per client per quarter. If you have an ISA &/or trading account you will get one quarterly charge.
SIPPs won't have this fee charged, but I think ISA's will. Am I wrong?
Sounds right to me:
http://www.iii.co.uk/newpricing/faq/
How annoying! So much for my "hold forever" shares :mad:0 -
They haven't even had the decency to send me an email.
It also looks like they are going to start charging for investments in funds which previously had no up front charge.
Really cross with the way they have done this - with the size of my investments (that I was growing a little bit each month) I will be losing money - would be better off with a savings account.0
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