iii introducing quarterly £20 charge

TechnoBadger

If your issue with a no annual (etc.) charge provider is merely a closure fee, why not instead transfer everything out bar a single share or a few pence rather than completely close the account?

mulronie

premierfella wrote: »

After far too much time spent pondering, I've ended up applying for a Sippdeal account based on the fees and £1.50 regular trading, plus some positive comments about them in the forums. .

I was about to go with them and got cold feet at the last second when I read clause 9.3 in their T&C's:

9.3 We reserve the right to make an additional charge if we are required to pay a levy, or interim levy, under the Financial Services Compensation Scheme or by the FSA. We will apply the amount of the additional charge proportionately across all accounts in a manner we consider is fair and reasonable

Seems a bit unreasonable to expect me/us to pay any FSCS levy they get hit with? Or am I reading this wrong - anyone got any thoughts?

guitarman001

andmas wrote: »

As I mainly invest in wrapped passive funds (HSBC trackers) I am thinking of moving to TD Direct Investing. They are first choice on the Monevator site followed by Selftrade, both of which have apparently adjusted their fee structure in light of RDR.

http://monevator.com/

I was wondering why no one has mentioned TD Direct, especially as they have various Vanguard funds available for an ISA. Have people had issues with TD Direct in the past and now staying clear?

Where on their site can you view the Vanguard funds? I want to see how much they charge - i.e. do they charge £2 per transaction like Hargreaves?

Perhaps I am rushing into Hargreaves... are there better alternatives for what I want to do? ARE TD investing better value for simply buying Vanguard funds?

philng

It seems to me that TD Direct is a good option for following:

1) No admin fee providing value of account min £5100
2) £12.50 fee per trade
3) £1.50 per dividend reinvestment
4) £1.50 for regular investment
5) Closure fee £50 plus VAT per account no fee per line of stock I think I am correct in saying? The Stock Withdrawal per holding charge does not apply for Account Transfer Out and Closures

andmas

guitarman001 wrote: »

Where on their site can you view the Vanguard funds? I want to see how much they charge - i.e. do they charge £2 per transaction like Hargreaves?

Perhaps I am rushing into Hargreaves... are there better alternatives for what I want to do? ARE TD investing better value for simply buying Vanguard funds?

On checking it appears that TD Direct don't offer Vanguard funds. They have a 'Funds Research' which links to Morning Star that shows all funds not just those available on TD Direct. The funds they offer are: http://www.tddirectinvesting.co.uk/investment-choices/funds-unit-trusts-and-oeics/thousands-of-funds-at-discounts-at-initial-sales-charges/

ruperts

Which provider would people say is best to switch to for funds only? I drip feed small amounts monthly into five funds. Is there any standout provider for this requirement? Looks like iWeb, possibly? Thanks

teecee90

My transfer form is on its way to TD Direct. It was a toss-up between them and Selftrade, but I have a large number of individual holdings (29 in total) so the £50 transfer/closure fee swung it (v Selftrade's £15 per line).

plunt

teecee90 wrote: »

My transfer form is on its way to TD Direct. It was a toss-up between them and Selftrade, but I have a large number of individual holdings (29 in total) so the £50 transfer/closure fee swung it (v Selftrade's £15 per line).

i would ask about this as there seems to be three fees listed

Transfer Out of Stock £35 per holding

Account Transfer Out and Closure £50 (+ the relevant Administration Fee)

Account Closure £50 + VAT (+ the relevant Administration Fee)

so what does the "relevant admin fees" include? does that actually mean 5 pounds closure plus 35 pounds per a holding? if so we better all run fast!!

it does say "Note: The Stock Withdrawal per holding charge does not apply for Account Transfer Out and Closures" but still the + relevant admin fees are ambiguous

http://www.tddirectinvesting.co.uk/choose-an-account/rates-and-charges/isas/

Radiantsoul

I believe the relevant Administration fee is the £30+vat per year for holding an account less than £5,100.

astreix

plunt wrote: »

i would ask about this as there seems to be three fees listed

Transfer Out of Stock £35 per holding

Account Transfer Out and Closure £50 (+ the relevant Administration Fee)

Account Closure £50 + VAT (+ the relevant Administration Fee)

so what does the "relevant admin fees" include? does that actually mean 5 pounds closure plus 35 pounds per a holding? if so we better all run fast!!

it does say "Note: The Stock Withdrawal per holding charge does not apply for Account Transfer Out and Closures" but still the + relevant admin fees are ambiguous

http://www.tddirectinvesting.co.uk/choose-an-account/rates-and-charges/isas/

Even I'd like to understand this better. am going to call them today and will post what they say about this.

Has anyone actually transferred out of TDDirect? If they can share their experience of how much transfer out fees they were charged it would be very helpful.