iii introducing quarterly £20 charge

Noktok

I only found the email from iii today, buried deep in my inbox. I wonder how many people will stay them simply because they didn't read the email in time? And how long before they notice the charges they are getting hit with?

I guess I need to choose a new platform to transfer to pretty quick, before the deadline. I don't have a lot of time left to research! Seems there are no good choices though, with the future still so uncertain.

I was using iii mainly for long-term trackers. Anyone recommend a site that works well with buy and hold tracker portfolios?

flashnazia

Noktok wrote: »

I only found the email from iii today, buried deep in my inbox. I wonder how many people will stay them simply because they didn't read the email in time? And how long before they notice the charges they are getting hit with?

I guess I need to choose a new platform to transfer to pretty quick, before the deadline. I don't have a lot of time left to research! Seems there are no good choices though, with the future still so uncertain.

I was using iii mainly for long-term trackers. Anyone recommend a site that works well with buy and hold tracker portfolios?

Earlier in this thread somebody mentioned this:

http://the-international-investor.com/comparison-tables/cheapest-uk-stock-brokers

Can't remember who but thanks to whoever it was.

Noktok

I know, thanks, but for example HL has extra tracker charges that don't appear in that table. I was hoping someone who uses a lot of trackers in their portfolio could suggest some ideas.

*edit* Read through the whole thread in more detail and TD Direct seems to do pretty much what I want. Can't find any reason not to go with them; guess I'll give them a try. Thanks to andmas and gingellr for the helpful posts.

busby3000

This from iii who replied to my (online) message telling them I would like to close my account as I'm transferring to X-O.....

"I can confirm that it is not possible to fully close an account with Interactive Investor whilst a transfer is being completed.

However, as you have provided written confirmation that you will be processing a transfer from Interactive Investor, I have provided you(r?) details to our Accounts Department to ensure that there is an exemption on your profile for the initial Quarterly Fee due on 01 July 2012.

Please note that once your transfer from Interactive Investor has been complete, you will need to contact us to request the full closure of your account.

If your account is not fully closed by 01 October 2012, the Quarterly Fee will be applicable on the account from this date."

So I guess I will have to contact them...again...once the transfer has taken place!

newbie8

I am planning on transferring out to paper certificates because I havent had time to research which companies which will charge similiar to iii old T&C's e.g. no managment fees and charge of about £10 per transaction. But I cant seem to see how I transfer out to paper certificates and also do I need to send a letter or will a secure message be sufficient?

Thank you all

moneylover

I would like to transfer shares to Selftrade and ISA to H-L. Can I do two separate switches?
Also, if I want to trade whilst transfer going through for shares, is that possible on the basis my shares will show in Interactive Investor until the day they show up in Selftrade?
Thank you

Vortigern

newbie8 wrote: »

I am planning on transferring out to paper certificates because I havent had time to research which companies which will charge similiar to iii old T&C's e.g. no managment fees and charge of about £10 per transaction. But I cant seem to see how I transfer out to paper certificates and also do I need to send a letter or will a secure message be sufficient?

Just ring them on one of the numbers I quoted earlier in this thread. I rang on 11th June, they assured me that no charges would be raised; the shares had gone from my ii trading account by 13th June. I expect the certificates to be delivered within the next 2 weeks.

aspiration_2

Has anyone moved to SIPPDEAL from iii?

I will be grateful to hear their transfer process difficulties.

jiggy2

moneylover wrote: »

I would like to transfer shares to Selftrade and ISA to H-L. Can I do two separate switches?

That is what I am in the process of doing - shares to selftrade and ISA to HL (transfer forms have gone in).

moneylover wrote: »

Also, if I want to trade whilst transfer going through for shares, is that possible on the basis my shares will show in Interactive Investor until the day they show up in Selftrade?
Thank you

Selftrade's FAQs answers this I think.

Link here: http://www.selftrade.co.uk/services/transfer-investments.php

Left hand bottom corner.

premierfella

aspiration wrote: »

Has anyone moved to SIPPDEAL from iii?

I will be grateful to hear their transfer process difficulties.

I can give you my experience of the transfer of an ISA sharedealing account from iii thus far if its of any help.

Account at SIPPdeal opened online and transfer form posted to them 8JUN.
Email from SIPPdeal received 14JUN advising that:
"We are currently communicating with Interactive Investor to ensure we can accept the investments held within your existing Stocks & Shares ISA.
Once these checks are complete, we will arrange for the transfer to take place."

I'm a tad uncomfortable with the wording given that iii needs to have a transfer request by the end of the month to avoid the new fee and the message doesn't 100% confirm that the transfer form has been sent to them (after all, communicating could mean a multitude of things).

However, I'm leaving it a few more days as I'll need to send a secure message to iii next week anyway to close an empty trading account, so can always add to that message advice to them that I'm transferring the ISA to SIPPdeal.