Halifax Share Dealing - New Charges

noh

I don't know if it has already been commented upon but HSDL have new charges from 31 March.
No percentage or custody charge for funds in a dealing account. Only a £12.50 annual charge for an ISA.
They have introduced a £12.50 dealing charge for funds and increased the dealing charge for shares to £12.50.
Cheaper than ATS.
Might suit some who infrequently trade.

http://www.halifax.co.uk/sharedealing/charges/new-charges/

http://www.halifax.co.uk/sharedealing/fund-changes/

jimjames

Potentially that could be a winner price wise for those with big portfolios in limited number of funds who do not trade regularly.

£12.50 annual fee seems incredibly competitive compared to £2000 for HL for someone with a large portfolio of £2m.

TCA

I'm torn between using Halifax or its subsidiary IWeb for my ISA. IWeb has no ongoing custody fees (but an account opening fee of £25) and only £5 dealing fees. IWeb charges 0.25% more for fx conversion on international trades, but other than that I can see no other differences and I assume they offer the same choice of investments.

http://www.iweb-sharedealing.co.uk/share-dealing-home.asp

noh

TCA wrote: »

I'm torn between using Halifax or its subsidiary IWeb for my ISA. IWeb has no ongoing custody fees (but an account opening fee of £25) and only £5 dealing fees. IWeb charges 0.25% more for fx conversion on international trades, but other than that I can see no other differences and I assume they offer the same choice of investments.

http://www.iweb-sharedealing.co.uk/share-dealing-home.asp

Expect iweb to announce new charges soon.
They probably will still be cheaper than HSDL.

Edit:-
The new charges are there now. Still cheaper than Halifax
http://www.iweb-sharedealing.co.uk/Charges-and-Interest-Rates/New-Charges.asp

sabretoothtigger

I have iweb, only £5 to buy in New York. Useful to have

Biggles

I'm pleased to see there's no change in the current annual ISA fee of £12.50.

It's a shame to see the dealing fee go up (with no discount for frequent traders!), whereas Barclay's came down by £1 with their new fees.

But it's good to see it will now only be £25 if you need to phone through a deal, instead of the current £50.

BeachNut

Do I understand correctly that Halifax will charge 12.50 each time you buy or sell units of Vanguard Lifestrategy ? Whereas Iweb would charge 5.00 ? Thanks.

Special_Saver2

Thanks for posting this information. I quite like that the transfer out of shares is going to have a cap of £125, which is a bit more reasonable than the uncapped costs that other providers charge. Knowing that there is a cap on the transfer out costs would make it more likely for me to transfer into Halifax in the first place.

SS2

noh

BeachNut wrote: »

Do I understand correctly that Halifax will charge 12.50 each time you buy or sell units of Vanguard Lifestrategy ? Whereas Iweb would charge 5.00 ? Thanks.

Yes that is correct..

Chickereeeee

iWeb talk about separate fund and stock/share ISAs, whereas Halifax have dropped that and just have ISAs where you can hold funds or stock/shares. Presumably IWeb will follow soon?

IWeb look very competitive otherwise. How are they to use? What is iWebs business model now (where do they make their money?)


Thanks

TCA

Chickereeeee wrote: »

iWeb talk about separate fund and stock/share ISAs, whereas Halifax have dropped that and just have ISAs where you can hold funds or stock/shares. Presumably IWeb will follow soon?

I queried this with them and they're going the same way as Halifax. This was their reply:

"Funds are already able to be traded through the stocks and shares ISA. Funds ISAs are no longer able to be opened and the approximate end date is going to be around the 31st March."

This isn't clear from their website though, as it certainly looks like you could open one now. I'm going ahead with IWeb for a stocks and shares ISA.