iii introducing quarterly £20 charge

gingellr

laughingboy wrote: »

Yes because of the rebate, are they going to charge for buying funds now?!

So its still costing you then as they are taking it out before they pay you, others pay the rebate and don't charge admin. So you would be £80 better off.

Oh yes that's a little thing II slipped in quietly, you now pay the same for buying/selling funds as you do for normal stocks with them, again other companies charge nothing to buy/sell funds.

laughingboy

gingellr wrote: »

So its still costing you then as they are taking it out before they pay you, others pay the rebate and don't charge admin. So you would be £80 better off.

Oh yes that's a little thing II slipped in quietly, you now pay the same for buying/selling funds as you do for normal stocks with them, again other companies charge nothing to buy/sell funds.

Thanks, that's news to me! I'll have to look at other providers then. I'm just worried I might move somewhere and then they change their charging structure...

gingellr

laughingboy wrote: »

Thanks, that's news to me! I'll have to look at other providers then. I'm just worried I might move somewhere and then they change their charging structure...

Thats one of the reasons i chose TD Direct as they have already made their changes and costs are reasonable.

A few details here
http://monevator.com/no-fee-discount-broker-options/

guitarman001

Optimist wrote: »

For those still wondering about which address to send your transfer form to. I just received this from III


Thank you for your message.
I am sorry you are leaving Interactive Investor. I can confirm that in order to transfer out we will require to receive your Transfer Form from the new provider into our Glasgow office by 31st July 2012 should you wish to receive no transfer costs.
Please contact your new provider to obtain paperwork to initiate this transfer, I can confirm that the first quarterly fee is due on 1st July 2012, therefore if you want to avoid this also then we will require the transfer form to be received from the new provider into our Glasgow Office by 30th June 2012.
Our address for them to send the form is:
Transfers Department
Interactive Investor
2 West Regent Street
Glasgow
G2 1RW
I hope this helps, please do not hesitate to contact me should you require any further information

That's not what the woman on the phone told me... she said she was closing my account and no need for letters... but it stays says 'active' when I log in! I'm still waiting for a share transfer so maybe that's something to do with it??? Might have to ring them to be sure of all this.

guitarman001

Yep, just rang up and confirmed. No need to send a letter (other than to new broker for share transfer). They're closing my account as soon as the share transfer takes place. Free of charge.

The_Dentist

For anyone thinking of transferring to Selftrade, I have been with them for a number of years and am leaving in disgust (for TD) at the poor customer service. It is not just one or two mistakes but persistent bad customer service. It just takes up too much of my time to deal with them and sort out what should just be routine customer service issues. Over the years the annual fee increases and the service worsens. I think of Selftrade as the Santander of the stockbroking world. Customer Services are now full of representatives who have no basic knowledge of stockbroking.

CJL

It appears that iii are wholly owned by the Lloyds Banking Group.

From "Interactive Investor Share Dealing Service Terms and Conditions"

11.14 Your investments will be pooled with investments held for other clients. This means that your investments will not be identified by separate certificates. Our nominee companies are owned by us. If our nominee defaults, we accept full responsibility for it. We will not disclaim losses arising directly from its fraud, willful default or negligence. We are wholly owned by the Lloyds Banking Group.

Bertieburt

I sold the holdings I had with III last week but it seems a share I had paid a dividend and thatnks to autoreinvest I am now the owner of 1 share worth 185p - any idea's on what to do clearly if it is still in my account on 1 July I will incur a £20 fee and to sell will cost me £10

gingellr

Bertieburt wrote: »

I sold the holdings I had with III last week but it seems a share I had paid a dividend and thatnks to autoreinvest I am now the owner of 1 share worth 185p - any idea's on what to do clearly if it is still in my account on 1 July I will incur a £20 fee and to sell will cost me £10

To sell should cost you nothing, as he said on the radio there will be no costs to sell as long as you let them know it's because you are closing the account.

pqrdef

laughingboy wrote: »

Yes because of the rebate, are they going to charge for buying funds now?!

Yes and no - your first £20 of trading commissions per quarter comes free.