iii introducing quarterly £20 charge

krycheck

Can I just confirm that there are no charges to sell funds before the 1st July? Does this only apply if you phone them, or do you just sell as usual through the website?

nearlyretired2004

OK - so contacted their helpline yesterday and said I was moving away. Was told that if my new provider indicated there may be delays that I should call back and get on their 'spreadsheet of people moving away' so I did not get hit with the charges.

Asked to be put on the sheet anyway, but told not possible unless I was told to expect delays.

Having seen some of the other posts on here, I then messaged iii on their website and this morning got the same reply as others ...

"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."

This is presumably the 'spreadsheet' I was told I couldnt go on !!

If you are moving away I suggest you message them via their website to get this confirmation !!

Noktok

Same here, I advised them that I would be transferring out and asked them to confirm that the transfer out fee would be waived. Just got the standard stock message which only mentions the Quarterly fee with no confirmation of fee waiver. I hope my next platform has better customer support.

sabretoothtigger

BNC shares dont transfer to paper as its a Spanish ADR I think so I need to tell them to shift it over to xo where I already hold some anyway.
Can I just say that or I need to give an address, surely they can get the drift :laugh:

moneylover

jiggy2 wrote: »

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

Jiggy2 I am sorry to be dim, what do I actually do first. I have an H-L account, I presume that I open Selftrade. Then do I complete two transfer forms off Interactive Investor site? Thank you

TechnoBadger

moneylover wrote: »

Jiggy2 I am sorry to be dim, what do I actually do first. I have an H-L account, I presume that I open Selftrade. Then do I complete two transfer forms off Interactive Investor site? Thank you

As I understand it, from the ISA's point of view, your new provider is the one who contacts iii and arranges the transfer. So you'll have to fill in your new ISA manager's form and send it off to them. The address for iii that goes on that form should be their Glasgow office.

Looking at my new iWeb account, it's much the same for an ordinary dealing account - send a form off to your new provider and leave the rest to them. Maybe best to check this one out yourself with your own new broker.

I'd be tempted to send iii a secure message telling them what you want to achieve so that (very hopefully) they'll get it right. I wouldn't count on it and I'm keeping it simple for them and shifting both accounts to the same new broker.

Probably worth getting the process underway as soon as possible...

guitarman001

I've only been given a promise on the phone that there will be no charge come July 1st! Hargreaves are still in the process of transferring my shares, which they have said can take several weeks. I'm going to ring Hargreaves before the end of the week. I've also sent iii a third e-mail asking for confirmation of no fees in WRITING by secure message or other. No replies to my others e-mails sent to iii but maybe that is because I spoke to them 4 days after sending - I still think I should have received an acknowledgement though.

I don't want the transfer to still be happening a few weeks from now only to get stung by iii.

jiggy2

moneylover wrote: »

Jiggy2 I am sorry to be dim, what do I actually do first. I have an H-L account, I presume that I open Selftrade. Then do I complete two transfer forms off Interactive Investor site? Thank you

Moneylover,

As stated by the previous poster - you first open a Selftrade account.

Then send a completed transfer form to HL and Selftrade (both have different forms for transfers of ISAs and funds/shares not held in ISAs) - forms at the links below:

http://www.hl.co.uk/funds/transferring-your-existing-investments/transfer-now

http://www.selftrade.co.uk/forms/pdf/F24.pdf

They will then contact iii. The only thing that would concern me is if they would be able to send the forms to iii before the first quarterly charge becomes due (1 July).

drmdmcgwn64

I just opened a new iWeb account. After logging on it was a bit like a comfy blanket as its like the way iii used to be
Hopefully the transfer will go smoothly now.

Is there a number provided of people closing or moving from iii elsewhere because of this?

moobax

krycheck wrote: »

Can I just confirm that there are no charges to sell funds before the 1st July? Does this only apply if you phone them, or do you just sell as usual through the website?

I was able to sell my funds online with no charge.