iii introducing quarterly £20 charge

Rymo_2

Pretty shoddy treatment of existing customers. Straight in at £80 per year!

"We believe that customers should be engaged with their investments and actively manage their portfolios. To support this, we are introducing a quarterly fee of £20".

REALLY! My impression is they want to force people to trade.

Vote with your feet people.

Their service since they moved to their own platform hasn't been anything special, in fact there have been issues.

Late payment of dividends is another reason I'm off.

I've managed to do alright over time by just buying and holding sound, dividend paying stocks and re-investing the divi. Sounds to me that this is exactly what they don't want.

I will look at other dealing platforms but the majority of my funds will probably go into cash ISAs now.

Good luck everyone, as for II, you don't seem to have carried this introduction of a quarterly charge out very well (to say the least)!

pqrdef

Well suppose I decide this is my cue to get out of the markets. All I will want then is an open but empty trading account, which will sit there doing nothing just in case I wake up one morning and get the urge for a quick flutter. II was OK for this, but no longer. Where to go?

blinko

apprently these guys have no fees except an exit fee http://www.x-o.co.uk/our_charges.htm

dunstonh

Remember that all platform based providers will have to introduce similar fees soon. So, make sure that any alternative has no exit penalty and expect to have to move again.

Some of you appear not to need platforms and should consider basic stockbroking services instead.

amictus

dunstonh wrote: »

Remember that all platform based providers will have to introduce similar fees soon. So, make sure that any alternative has no exit penalty and expect to have to move again.

I'm reluctant to switch stockbroker just yet for this very reason.

dunstonh wrote: »

Some of you appear not to need platforms and should consider basic stockbroking services instead.

Do you mean the low-cost, no-admin-fee companies that only deal with shares (and ETFs/ITs)? I'm thinking of http://www.x-o.co.uk/, http://www.svssecurities.com/, http://www.simplystockbroking.com/ and possibly http://www.selftrade.co.uk/. Perhaps they will avoid the seemingly inevitable introduction of annual fees by not dealing with funds? What do other people think?

MrDaLi

tomo21217 wrote: »

I belive its you pay the fee and you get two free trades.

Fine if you deal regularly on the account not so good if you are just holding shares/funds

Okay - panic over!
I figure that as long as my funds stay above the £5k mark and their rebate calculator is to be trusted I get 30 quid in rebate so 8 trades for £50 - not too shoddy!

james_09

I think I will be going over to Self trade as they will cover the costs of my transfer and they offer the same £1.5 regular investment charges which I use.

As I make at least one regular investment a quarter I should not pay the inactivity charges.

The only annoying thing is I will need to switch to getting dividends paid in cash, as they charge a flat rate £1.5 for re-investment which will not be worth it for me given the small size of my holdings.

foxes1884

Useful info over on Monevator blog on other broker choices


monevator .com

miller

Complaint to FOS sent. Main point used was the breach of 20.1 in terms of the notice period given (19.5 working days vs. the 20 required).

gingellr

BBC money box have just called me, they say they have had so many complaints about II so they are looking into it

Has anyone got a printout of the original charges page where they say that there are no admin fees as this is what they want me to send them?

thanks