iii introducing quarterly £20 charge

Vortigern

I just rang ii to close my account and convert back to certificated shares. You can ring 08452003637 (or 01412063991 if that's cheaper on your phone tariff) I was on hold for about 10 minutes and sorted after 2 more minutes. No paperwork, no emails or secure messages required. Can keep site access for research (free of charge), just closed trading account.

cloud_dog

After umming and arrghing I 'ave gone with TD Direct...... Well the OH has but she doesn't know yet

sabretoothtigger

We are making some changes to the information you see when you invest in UCITS Scheme* Funds and Exchange Traded Funds (ETFs) online.
What's changing?

From 1st July 2012 we will be required by the Financial Services Authority (FSA) to provide you with a 'Key Investor Information Document' or 'KIID' before you invest in a UCITS Scheme Fund or ETF.

Therefore, from this date we will present you with a KIID whenever you:

* Purchase a UCITS Scheme Fund or ETF
* Create or amend an investment plan in a UCITS Scheme Fund or ETF
* Reactivate a suspended investment plan/subscription plan which contains a UCITS Scheme Fund or ETF
* Create or amend certain TradePlan instructions for trading UCITS Scheme ETFs

As we don't have the facility to show you this document when you use our telephone service, from 1st July you'll need to place any new purchases of UCITS Scheme Funds or ETFs via our online service.
What happens next?

You don't need to do anything. From 1st July 2012 we will automatically present you with a KIID in any of the above situations (for non UCITS Scheme Funds and ETFs we'll show you a Simplified Prospectus instead).

We hope that these changes will help you to continue to make fully informed investment decisions.
Yours sincerely
Damian Stansfield
Managing Director
Halifax Share Dealing Limited

:money::money:

creativ

I don't want to sell my shares as their value is low at the moment and I would make a big loss.

I can't afford to buy any shares and don't want to anyway for the foreeable future.

I could transfer to another provider but don't want to be stung by any annual fees in the future.

I have heard about converting my shares with iii into paper certificates. Are there any charges to do this imposed by iii. Also if I want to sell them at a later date do share dealing account providers impose any additional charges for selling paper share certificates?

JoeCrystal

creativ wrote: »

I don't want to sell my shares as their value is low at the moment and I would make a big loss.

I can't afford to buy any shares and don't want to anyway for the foreeable future.

I could transfer to another provider but don't want to be stung by any annual fees in the future.

I have heard about converting my shares with iii into paper certificates. Are there any charges to do this imposed by iii. Also if I want to sell them at a later date do share dealing account providers impose any additional charges for selling paper share certificates?

Not exactly, I often found that all (??) share dealing accounts allows people to transfer in their share certificates for free. I do that with my share certificates. Last time, I mailed my share certificate to my share dealing account provider, arrived on Monday, on the account, ready to sell on Thursday, so I can take advantage of internet dealing charge. No idea on charges for converting them to shares though.

On other hand, if you do not want to wait, then there are options like selling by phone but charges are generally more expensive.

Cheers

Joe

grey_gym_sock

iii normally charge £20 per stock to convert to paper certificates, but i think somebody said they are currently waiving that charge (just like the charge for transferring to other brokers). so check with iii, but if it's free, that's a good option. (at least if your shares are not in an ISA - otherwise you'd have to take them out of the ISA - though it might still make sense.)

guitarman001

Just rung them up to sort it out. Secure messaging responses can take up to 3 days to go a reply...

They've basically closed my accounts right now and when they get the transfer form from the new broker, my shares will be switched over to that broker. There will be no charge if they get the forms prior to the end of June. I asked if there would be a charge if they didn't get the form prior to the end of June (for anybody else's sake) and they said they couldn't be sure.

guitarman001

I forgot to ask if the transfer would be free (no £15 charge) but I almost took that as a given.... hope that it is a given!!

Vortigern

creativ wrote: »

I have heard about converting my shares with iii into paper certificates. Are there any charges to do this imposed by iii. Also if I want to sell them at a later date do share dealing account providers impose any additional charges for selling paper share certificates?

ii have agreed to waive charges for issue of certificates, just ring them on on 08452003637 or 01412063991.

Some banks and brokers charge a little extra to sell certificated shares, but if you're not a frequent trader this shouldn't have much effect.

dorito

I read somewhere that SimplyStockbroking are quite cheap (no annual fees, or account closure fees, and £8 per deal).

Has anyone had any experience with them? any advice on them?

Would it be okay for ISAs? Or is X-O better?

I have two ISAs with III and don't want to pay £80/year each for the privilege of managing my own money. I'm not very finance savvy and do less than 1 trade a quarter!

Thanks in advance for any help. I understand many people are in the same situation and looking to transfer out of III to somewhere else.