Iii

Nocto

inflationbuster wrote: »

They do but you'll be waiting a good couple of months. My 2014 voucher arrived 03/07/2014.

Thanks, that’s useful info.

Sounds like a typical II timescale - but as I’m not exactly in a busting rush to complete my tax return, I can live with it on this occasion..!

juliamarsh

I shouldn't tempt fate but it finally seems as if nearly 16 months down the line my issues with III are close to a resolution. To anybody who hasn't checked their commission rebates, may I strongly recommend they do, as III have agreed to pay me nearly £250 in commission rebates over and above what they originally paid me. If I had not checked these and challenged them then I would never have received this money and you can be sure that I am far from the only one in this position - how many others have they short changed?

Allots

I also challenged II on rebates and received a further £425 additional rebates from them, plus compensation. It transpires that due to delays in transferring funds to II via FNZ, the rebates for the first and perhaps second month post transfer were calculated using incorrect (understated in each case!) number of holdings. Let's now see what happens with dividends at the end of May.

xylophone

The relative had got used to (and even tolerated) the late arrival of fund dividends - less than gruntled to find that there is no sign of the SL share dividend due three days ago......

juliamarsh

Allots wrote: »

I also challenged II on rebates and received a further £425 additional rebates from them, plus compensation. It transpires that due to delays in transferring funds to II via FNZ, the rebates for the first and perhaps second month post transfer were calculated using incorrect (understated in each case!) number of holdings. Let's now see what happens with dividends at the end of May.

Damn, I never thought to ask for compensation!! I spent many many hours calculating it all as well! That was exactly what happened regarding incorrect/understated number of holdings used in the calculations due to transfer delays. Sometimes there would be nothing at all for the month when there should have been. Sometimes it would be calculated correctly one month and not the next, or would completely disappear for a month. There were 3 funds on which I never received anything at all and they are now going to calculate these manually each quarter and add them on! What a pickle. Don't want to think about end of May dividends as it will be time for the Newton funds again and everyone knows how untimely they are about crediting those! Will enjoy a few III-free days before I start thinking about those again!!

masonic

I've finally got around to sitting down and doing the calculations.

It turns out they owe me approx. £10.64 in missing fund rebates and £102.19 in missing tax credits from interest distributions. I'll also be charging them £20 for 2 hours of my time.

masonic

Oh, one last thing before I start composing my complaint...

For those who successfully challenged the rebates, did you end up with an unbroken stream of payments? I received full payment of rebates in respect of February 2014 from HL and then nothing further. I've calculated the expected rebates from II on a pro rata basis starting from the date the funds were registered to the platform according to my statement (between 23rd and 25th March), but this leaves a dead period of just over 3 weeks where neither platform has paid me.

juliamarsh

masonic wrote: »

Oh, one last thing before I start composing my complaint...

For those who successfully challenged the rebates, did you end up with an unbroken stream of payments? I received full payment of rebates in respect of February 2014 from HL and then nothing further. I've calculated the expected rebates from II on a pro rata basis starting from the date the funds were registered to the platform according to my statement (between 23rd and 25th March), but this leaves a dead period of just over 3 weeks where neither platform has paid me.

II calculate the rebate payments from the day the holding is credited to your account with them. HL advised me that the holding has to be in your account with them on the last day of the month in question in order for you to receive the rebate for that month and that it is stated in their T&Cs (it is - I checked!) So no, it sounds as if you will not be paid for that period of March that the funds were still with HL. You did well if II only underpaid you by £10 odd - are you sure?!?!

organic_wanabe

Can I ask a stupid question - how can I check that I have been paid the correct commission rebates since I moved to II? I have just taken HL and II's word that I have been rebated what I am due. When I first moved everything to HL, many moons ago, I was just happy that I was being given something rather than the nothing that I was getting before!

juliamarsh

organic_wanabe wrote: »

Can I ask a stupid question - how can I check that I have been paid the correct commission rebates since I moved to II? I have just taken HL and II's word that I have been rebated what I am due. When I first moved everything to HL, many moons ago, I was just happy that I was being given something rather than the nothing that I was getting before!

See my comment No. 1280 on Page 64 where I have explained the calculation I used, which may not be exact but should be fairly accurate. It is time consuming, depending on how many holdings you have, but check the dates they were transferred across and check for each that you have received them for the correct number of days for the months in question. There were 3 holdings that I had never been paid on at all! Best of luck.