iii introducing quarterly £20 charge

avfc1982

gingellr wrote: »

Not that this helps but I have spoken to two different people at ii, one said the dividend will go to your new broker the other said ii will get it but will forwarded to the bank account they have on record with them!

Logically in my mind if shares were registered to the ii nominee on the dividend record date and before the shares went ex dividend, the dividend would be paid to the ii nominee. It's then ii's responsibility to transfer the dividend....but that's just my opinion

Confusion reigns as always then, spoke too someone at TDW and they were equally clueless.

Cheers

dansep

I am exiting from iii as I won't be trading for a while and just want to avoid fees. The only sticking point is that I have shares in NASDAQ. I have been looking at x-0 but I now relaise that they do not accept non-UK share holdings.
Can someone please pass on their thoughts as to what may be the best way forward? thanks.

brineybay

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.

I sent my transfer form to X-O yesterday, how long do you reckon it'll take before they contact Interactive? (I would hope before end of June).

In a secure message to me, Interactive said:
"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 in our Glasgow office by 31st July 2012 should you wish to receive no transfer costs. 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 by 30th June 2012."

So to avoid the first quarterly charge do I have to do anything else, other than send my transfer form to X-O?

Thanks,

miller

gingellr wrote: »

Not that this helps but I have spoken to two different people at ii, one said the dividend will go to your new broker the other said ii will get it but will forwarded to the bank account they have on record with them!

And I asked them in a secure message and in their reply they completely ignored the question. They should send it to the other broker IMO - especially in the case of ISA's where that money would lose it's tax-free status if treated in any other way.

Also they ignored the question I asked them about whether they would automatically close my account when my transfer was completed.

The 30 June & 31 July deadlines are still pretty unreasonable - as I've already sent my complaint to the FOS I will follow up through those channels if they elect to do anything else crafty.

[Deleted User]

Anyone know whether the fee fpr transferring share holdings to share certificates has been waived, I've sent a secure message to III, but they are notorious for taking a while to respond, was hoping to do this as my holdings are long term and I rarely trade ?

james_09

For anyone else thinking about Selftrade.

I sent my application and ISA transfer form in by post last Friday and received all my log in details today.

ISA is all up and running and I had a secure message letting me know they had posted my transfer form off to iii yesterday.

So far so good...

damsonjam

Feel I should know the answer to this but...

So I'd literally just set up and subscribed to a new cash ISA for 2012/2013 when I got the email from iii
I have an existing Stocks & Shares ISA with iii that I have set up for divident reinvestment. I do not subscribe to it in any other way.
iii have told me that they're going to charge me £20 a quarter as an admin fee.

Q: can I set up a new Stocks and Shares ISA and transfer in the existing amount from previous years only i.e. make no new subscription (I noticed TD Direct offer a free service) and leave the Cash ISA in place (that I have subscribed to the full amount)?
Or do I have to cancel the Cash ISA? [I'll lbe charged at least 90 days interest if I do so]

gingellr

Deleted_User wrote: »

Anyone know whether the fee fpr transferring share holdings to share certificates has been waived, I've sent a secure message to III, but they are notorious for taking a while to respond, was hoping to do this as my holdings are long term and I rarely trade ?

Yes as long as you let them know you are doing so to close your account.

gingellr

A littile issue with TD Direct, if you want to buy into any UK fund there is a minimum initial investment of £500 on each fund.

This is not stated anywhere on their website that i can see.

This minimum is not there if you set it up as a regular investment.

avfc1982

gingellr wrote: »

A littile issue with TD Direct, if you want to buy into any UK fund there is a minimum initial investment of £500 on each fund.

This is not stated anywhere on their website that i can see.

This minimum is not there if you set it up as a regular investment.

I'm assuming that's for new purchases? A couple of my holdings that I'm transfering across from iii are around the £275 mark, presumably they'll keep those invested in the funds and not move them to cash?