iii introducing quarterly £20 charge

fraser

!!!!!! - just seen this charge go from my debit card. I had no prior warning as I have not received any email or written correspondance.

I logged into my account this morning and see a load of secure messages, which have not provided any external trigger messages to my email at all.

I have 1 share trade from last year and unfortunately it has bombed significantly due to economic woes, this £80 per annum charge will wipe out any remaining value I have left.

I was hoping for an upturn in my investment during August - firm in the process of a major restructuring. but now this addtional charge will in effect wipe me out.

It was only a small trade and a top dip into the investing world - very disappointed and now poorer... :mad:

I have written to them, any suggested words for a letter to the financial ombudsman?

miller

fraser wrote: »

I have written to them, any suggested words for a letter to the financial ombudsman?

I would look at the notice period you were given. There were some thoughts on here that they only gave 19.5 days notice (instead of 20 in the T&C's) because of the double bank holiday in June.

antonio1

If you mean you've just learnt of the fee changes, isn't the solution just to transfer out elsewhere? My interpretation of their fee free transfer promise email is if you notify them by the end of July and they've received a transfer request by then from the new broker, any first quarter £20 fee paid will be refunded.

dunstonh

I have written to them, any suggested words for a letter to the financial ombudsman

You do not have access to the FOS until you get the deadlock/final letter from the firm. So, dont waste your time writing a letter yet.

fraser

just looking into transferring

HL any good? I have a SS ISA there

Vortigern

fraser wrote: »

!!!!!! - just seen this charge go from my debit card. I had no prior warning as I have not received any email or written correspondance.

I logged into my account this morning and see a load of secure messages, which have not provided any external trigger messages to my email at all.

I was in a similar position having several unread secure messages and no "you have a secure message" email. Check the email address held on your profile. Mine was wrong. That was probably my own error. :-(

Fortunately I saw this thread and made a timely exit before any charges were raised.

dunstonh

HL any good? I have a SS ISA there

HL's platform is not priced for RDR or platform review yet. iii have moved their platform to comply with those.

sabretoothtigger

dunstonh wrote: »

You do not have access to the FOS until you get the deadlock/final letter from the firm. So, dont waste your time writing a letter yet.

When I complained to a firm they replied and said I could appeal to FOS, that'd be deadlock I gues

dunstonh

When I complained to a firm they replied and said I could appeal to FOS, that'd be deadlock I gues

That is the point you get access to the FOS. They have given their response and said if you dont like it you can go to the FOS. Until you get to that point or 8 weeks have passed, you cant go to the FOS.

dmsu86

Hi all, looking for some advice and help, i also wasnt aware of this £20 charge and after checking my bank statement today i notice a fee of £20 from iii taken from my account

Whats the process of transferring holdings? is it a case of you have to sell your shares and then move!? id be taking a hefty loss if so

Does anyone or can anyone give us a step by step guide of how to transfer away from iii? i dont want to be paying £80 a year for their service, any help is much appreciated

anyway of getting this £20 fee waived??