Iii

juliamarsh

MSE_Megan wrote: »

Interactive Investor has contacted us with the following message. MSE does not endorse anything posted by companies in the forum.

Following a number of posts on this thread, we confirm we have had an issue with a small number of fund income payments. This issue does not affect equities or investment trusts or the vast majority of funds, where we continue to make payments to our customers on or shortly after the date we receive the dividend. We are contacting affected customers. If you have not been contacted about your specific case then please email dividendqueries@iii.co.uk and we will be in touch directly. We sincerely apologise to any customers whose payment has been delayed.

This just makes me even angrier and is indicative of Interactive Investor's abject failure to acknowledge or address critical issues. How dare they play down the matter and disregard their customers in this way? A SMALL NUMBER of fund income payments? The VAST MAJORITY of dividends paid on time?! Most of them weeks late,every single month. I still have one dividend outstanding that was due at the end of August. This is a gross insult to our intelligence and I would have more respect for them if they could just be honest and admit to the scale of the problem. Apologies just don't cut it and 'sincerely'?! I don't think so!!! :mad:

JenniferK

In the Mail. More bad publicity for II.

http://www.mailonsunday.co.uk/money/experts/article-2775008/Why-taking-long-Interactive-Investorso-pay-dividends-funds.html

sorcerer

JenniferK wrote: »

In the Mail. More bad publicity for II.

http://www.mailonsunday.co.uk/money/experts/article-2775008/Why-taking-long-Interactive-Investorso-pay-dividends-funds.html

I just made a comment on their site saying them owe me money from 21 funds, (2 from August and 19 from end of September).

lejog2003

sorcerer wrote: »

I just made a comment on their site saying them owe me money from 21 funds, (2 from August and 19 from end of September).

There are lies, damned lies and PR department-speak.

juliamarsh

I quote Interactive Investor's response directly from the article:

'The issue is isolated to recent events and is intrinsically linked with the unprecedented volume of transfers that have made complete fund reconciliations and, as a consequence, income payments more difficult.
At the current time we have nine funds outstanding, the income payments for which have been delayed as we continue to reconcile the data.'


Heavens, we must all be holding the same 9 funds!!!!! :rotfl:

Allots

I received a couple of August dividends and was told by II that the rest will follow in 5 days time.

Does anyone have any insight on the nature of the problem with FNZ?

If the problem is a system issue, then in time we can hope that this will be rectified. If however the problem is to do with manual reconciliations of dividends.....then things will get surely worse as new clients (poor them!) migrate to II. I see from the forum that the late payment of dividends goes as far back as June 2014 and so this is not an isolated incident.

sorcerer

Allots wrote: »

I received a couple of August dividends and was told by II that the rest will follow in 5 days time.

Does anyone have any insight on the nature of the problem with FNZ?

If the problem is a system issue, then in time we can hope that this will be rectified. If however the problem is to do with manual reconciliations of dividends.....then things will get surely worse as new clients (poor them!) migrate to II. I see from the forum that the late payment of dividends goes as far back as June 2014 and so this is not an isolated incident.

My problem's with late dividends actually started in April this year, I know somebody who left II two years ago, had problems then.

Nixter

juliamarsh wrote: »

At the current time we have nine funds outstanding, the income payments for which have been delayed as we continue to reconcile the data.'
:rotfl:

This is a testament of how incompetent they are. They don't really know what's going on in their own systems. When I spoke to them many months ago the customer service agent wasn't even aware that I was transferring my SIPP to them.

Luckily I'm now on the way OUT from them.

sorcerer

Looks like all my August payments have no come through, only took a month, two secure message, a phone call, a complaint and and news article in a major news paper for them to get paid.


Now onto September's Dividends fight! :-(

le_loup

le_loup wrote: »

I have emailed that address and will send an email every day until I'm paid.
It won't do any good but it works off some of my frustration knowing they have to spend time looking into it - oh no they won't!

Two days worth of emails to the "special dividends query" address now and guess what response I've had?