iii introducing quarterly £20 charge

nearlyretired2004

.... save me trawling through 700-odd posts!

THanks ......

miller

nearlyretired2004 wrote: »

.... save me trawling through 700-odd posts!

THanks ......

I opened my account 2 weeks ago and sent the transfer form at the same time. So everything has gone surprisingly quickly.

guitarman001

Finally got an e-mail from iii saying they wont charge unless they still haven't received the transfer forms by end of July.

pescmy

Hi,

I want to transfer out from iii but not sure where to go? I rarely trade but I do use the protfolio builder & I reinvest dividends. Are there any good places to move to that will allow me to keep on doing what I do with no/little cost?

Thanks

CashStrappedTeen89

Do they ever reply when you've emailed about closing an account?, i've emailed twice now ive transferred everything out but heard nothing

laughingboy

laughingboy wrote: »

Wonder if anyone could check my calculations/assumptions for how much this charge were to cost me if I stayed with II?

I only hold funds (~£7000) that I pay £200 into each month.

So assuming 0.64% rebate, £45 credited to me

Annual charge £80 which provides (80/1.5) 53 regular investments over the year.
Given that I invest in 7 funds each month = (7 * 12) 84 regular investments per year, minus the 53 I get 'free' so I will have to pay for the remaining 31 which will cost 31*£1.50 = £46.50

So annual cost to me is £80 + £46.50 - £45 = £81.50 (roughly) Does my calculations stack up?

Anyone?

Also, I received a message from their help desk saying I would get 13 fund regular trades per quarter or 5 fund regular trades per month, surely they've made a mistake with the 5 trades a month?

So do the changes mean II is now RDR compliant?

koru

laughingboy wrote: »

So annual cost to me is £80 + £46.50 - £45 = £81.50 (roughly) Does my calculations stack up?

Anyone?

Seems right.

westy22

laughingboy wrote: »

Anyone?

Also, I received a message from their help desk saying I would get 13 fund regular trades per quarter or 5 fund regular trades per month, surely they've made a mistake with the 5 trades a month?

So do the changes mean II is now RDR compliant?

The 5 regular trades per month is incorrect - you can have 13 'Portfolio Builder' regular trades per quarter (13 x £1.50) or 2 real-time trades (2 x £10) per quarter or any combination equal to £20.

We don't know if they are yet fully RDR compliant because we don't actually know exactly what RDR will require of platforms as yet.

fimonkey

grey_gym_sock wrote: »

you can transfer either as stock or as cash.

ii will charge £15 per stock to transfer out as stock, nothing to transfer as cash.

but ii will charge £10 per stock to sell, and then TD direct will charge £12.50 per stock to buy, and the government will charge 0.5% stamp duty when buying, and there will be a spread between buying and selling prices, and you'll be out of the market for a minimum of 2 weeks.

surely you're better off transferring as stock.

but note that, if you want to leave TD direct later on, they charge more to leave: £35 per stock transfer, plus £50 to close an ISA.

I've just been told no commission will be charged to sell - is that a different thing to the £10 per stcok charge you are mentioning?

fimonkey

westy22 wrote: »

The 5 regular trades per month is incorrect - you can have 13 'Portfolio Builder' regular trades per quarter (13 x £1.50) or 2 real-time trades (2 x £10) per quarter or any combination equal to £20.

We don't know if they are yet fully RDR compliant because we don't actually know exactly what RDR will require of platforms as yet.

WHat's RDR please? (laymens terms would be good).