X-O Share Dealing Account Transfer

amictus

Following the Interactive Investor fiasco, I have decided to transfer my share holdings to https://www.x-o.co.uk. I'm sure there are others here who already hold x-o accounts, or who are in the process of transferring, so I'd appreciate it if they could answer a few questions I have:

(1) My holdings are split between an ISA account and trading account with II. I only see reference to a personal ISA account on the x-o website, but I assume they also allow share dealing outside of an ISA? If this is the case, do x-o have a similar account structure to II, with a single login for connected ISA and trading accounts, or is a completely separate account required? I also see reference to a nominee account... my understanding is that this would be used to manage shares belonging to another person, but perhaps this is the equivalent of the II trading account?

(2) The transfer form (link: http://www.x-o.co.uk/wp-content/uploads/2012/JARV3079-X-O-Transfer-May-10.pdf) only has sections for ISA and nominee accounts. Where would I detail the request for transfer of the holdings outside my ISA account?

(3) Do I need to create an account with x-o before I send off my application form, or would this be done as part of the transfer with login details sent via email?

Some pretty specific questions, I know, but thought I'd just see if anyone else has dealt with the same issues already before I contact x-o directly.


Thanks for any help/advice!

Ifts

owains wrote: »

I also see reference to a nominee account... my understanding is that this would be used to manage shares belonging to another person, but perhaps this is the equivalent of the II trading account?

I use X-O and trade shares (outside an ISA) through their nominee account, so I would say the highlighted bit above is correct.

I am pretty sure on the transfer form, thats where you would detail the request to transfer your holdings outside your ISA account.

I cant comment on the transfer process from II to X-O or say if its a similar account structure to Interactive Investor as Ive never used II before. I opened a new X-O account rather than transferring in from another broker.

Sorry cant be of more help with answers to your other questions.

edit:

owains wrote: »

so there's no charge to close a nominee trading account, right?!

Don't know about that, and hopefully will never have to find out!

amictus

Thanks for your reply Ifts, that clears us the nominee account confusion. It looks as though two separate accounts will be required to to trade my ISA and non-ISA shares (unlike II where this can be done via one login).

Perhaps someone else can comment on the transfer process, but I suppose it will be necessary to create the ISA and nominee trading accounts online before submitting the transfer form.

One last thing... the charges page (link: http://www.x-o.co.uk/our_charges.htm) only mentions an ISA account closure fee... so there's no charge to close a nominee trading account, right?!