iii introducing quarterly £20 charge

foxes1884

Well looks like ii have someone in the office today (04/06), I got a pre-formatted response back. No waving of transfer out fees. So I responded that I've now referred the matter to the FOS with their response.

I'll just pay the exit costs and get it back later maybe

I'm moving to Natwest so I can also trade Australia stocks, they charge £10+vat per quarter (admin) if you don't make a trade, but this is waived if your holdings are valued over £2,000.

Share Deal Active looked good, but I don't want to pay £15 to transfers fund back to my account, and they will most like bring in a charge at some point.

Anyway to those complaining with iii, good luck!

c_smith

guitarman001 wrote: »

It would be useful for many to know where everybody else is moving to and what their fees are. Selftrade looks well run but they have a yearly fee, also? I know Motley Fool have a fee, but also hear they're good. What about just using Lloyds??

I haven't decided who I'm moving to yet, but https://www.simplystockbroking.com looks reasonable. £8 per share trade and no annual management or inactivity fees. Although after the way we've been treated by iii, I'm wondering, "what's the catch"!!

Anyone else have any views on simplystockbroking?

guitarman001

Halifax do a 'regular investing' product - deals every month for £2 a trade. Doesn't mention any holding fees... worth it? There are SO many options. Checking out Halifax, Lloyds, Motley Fool and Selftrade just now.

Do the bank dealing services allow trades on AIM? Must do..

guitarman001

c_smith wrote: »

I haven't decided who I'm moving to yet, but https://www.simplystockbroking.com looks reasonable. £8 per share trade and no annual management or inactivity fees. Although after the way we've been treated by iii, I'm wondering, "what's the catch"!!

Anyone else have any views on simplystockbroking?

That's what I'm wondering. Anything too cheap I'm giving a miss, if you get my drift. Want to get this sorted pronto. Hopefully the new broker can move all shares (WITHOUT having to sell then buy again right?) and I then just have to ring iii to close the account.

guitarman001

Motley Fool have no inactivity fees, however there shares ISA has a £25 per year fee + VAT, and there are fees for closing their shares ISA.

wastedtalent

guitarman001 wrote: »

Halifax do a 'regular investing' product - deals every month for £2 a trade. Doesn't mention any holding fees... worth it? There are SO many options. Checking out Halifax, Lloyds, Motley Fool and Selftrade just now.

Do the bank dealing services allow trades on AIM? Must do..

I'm moving to iWeb. Part of Halifax, regular investments and no account management fees for isa.

guitarman001

Argh this is a nightmare! So much guff on websites making it hard to see what all the fees are.

Lloyds have min admin charges of £6.25 + VAT per quarter, but MAX £30 + VAT per quarter! Typical 0.125% which is higher than Halifax. Also £15 per trade from what I can see... NO WAY!

Halifax is £2.16 min and £8.33 max PER MONTH admin fee. Typically 0.05% so if you have £10k, that's £5 per month. £12 per trade unless you're doing regular monthly buys - £2. Lots of extra other fees if you're thinking of moving provider or whatever. The £5 per month puts me off.

Selftrade - £8.50 per quarter inactivity fee. Trades £12.50. What do you think about Selftrade?

iii - cheap trades at £10 a shot but new £20 per quarter inactiviy fee as we've found out! On principle I'm dead against this change.

Hargreaves Lansdown - Some good deals on funds, though I tend not to invest in funds. (Got any good recommendations?). Dealing charges roughly £12. NO inactivity or admin charges. To be honest this one's looking pretty good...... any views on it?

Motley Fool - no inactivity fee, but a £25 per year fee for their shares ISA. Still cheaper than iii. Cheap trades at £10.


My preference list so far:

HL / Motley Fool
Selftrade
Halifax / iii
Lloyds

The top 3 are the ones I'm most interested in now... sound good?

guitarman001

Never heard of iweb until you just mentioned. There seem to be LOADS of these 'small' 'new' brokers out there! How long's it been going?

To be honest I'm tempted to go for one of the big boys like Hargreaves Lansdown (or Motley Fool?).

sabretoothtigger

HL has an annual fee. Halifax has no fee

dh_mcr

Do Hargreaves Lansdown offer a regular investment service like most of the other services do? I couldn't find anything on their site.