iii introducing quarterly £20 charge

ses6jwg

I am leaning towards X-O at the moment as I tend to deal in shares not funds.

Does anyone know if X-O allows automatic reinvestment of dividends?

boneofo

Remove your debit card details and run your account down to £0. Try to get iii to chase you for £20/qtr.
Buy some funds and sell 1 unit each day.

Any more suggestions ?

Gambler

Optimist wrote: »

Must admit Selftrade are looking the likely candidates for my and the family accounts too.

Strangely I might have stayed as with linked family accounts the charges would have been manageable. However they really irritated me with the original mail explaining how they were doing me a favour.

I was thinking the same, pay £300 in transfer fees or just pay the £20 quarterly charge on the linked family accounts.

I originally moved from Selftrade because of the management fees. As the shares I am in don't pay dividends I would be hit by the inactivity fee.

I'm not interested in funds so am currently looking at First Direct who charge £11 per trade.

ses6jwg

Actually, there are a few which look like they would suit my needs. I deal primarily in shares so fund costs are a non-issue for me. All the following have no annual/ inactivity charges and competitive dealing costs:

X-O
HSBC Invest Direct
First Direct Shares
iWeb sharedealing
Saga share dealing

srcandas

Wasn't with iii thankfully but just wanted to say I'm smiling for you all. Great effort and well done one and all :beer:

gingellr

I would be careful with some of these as they have high exit charges if you decide to move again in the future.

For example iWeb charge £25+vat per line of stock and if its an isa a further £50 to transfer that.

Selftrade for me seem to have the right balance also i like that they do regular investments for only £1.50 as long as you dont mind being tied down to doing those trades on a certain day of the month.

Gambler

ses6jwg wrote: »

I am leaning towards X-O at the moment as I tend to deal in shares not funds.

Does anyone know if X-O allows automatic reinvestment of dividends?

Must admit I have never heard of this company. Seems very cheap, what's the catch?

Optimist

ses6jwg wrote: »

I am leaning towards X-O at the moment as I tend to deal in shares not funds.

Does anyone know if X-O allows automatic reinvestment of dividends?

X-O do not do automatic reinvestment

There is a comparison table Here

Jennifer_Jane

I sold my complete S&S shares and funds portfolio on Friday. It wasn't the best decision, but like others I was irritated by the fact that iii seemed to be doing me a favour but costing me money. So, am out completely (with share money being available tomorrow and fund money on 12th June).

Interactive Investor: it was the quarterly charge that I didn't care for. I still cannot see how this is in my interests! Anyway, iii were making me nervous with their slow payout times for dividend payments.

They are no longer on the ball, which is a shame. I've been with them from the start. Quite sad.

gingellr

Gambler wrote: »

Must admit I have never heard of this company. Seems very cheap, what's the catch?

Alot of the cheaper services have less features eg...

No regular investment plan
No dividend reinvestment
No stop loss/trailing stop loss orders. etc

Some you had to apply in writing by post to transfer your money to a bank i.e you could not do it through your share account online.