Iii

juliamarsh

colalba wrote: »

I'm afraid your 4 weeks could be optimistic. I have put in a second formal complaint (and quite a few informal) on my transfer and it took 8 weeks to get a response. Isn't that absolutely terrible.


There was nothing complex about this complaint. They had not transferred cash and had paid an incorrect amount of transfer incentive. What I find particularly annoying is that during that 8 week period they did absolutely nothing to actually fix the problem which was quite simple to address. It just went into limbo and got looked at the 8 week limit before you can take it to the ombudsman if they don't respond.


So far transfer has been in progress for 9 months !


They have offered £50 goodwill and £50 commission credit but I had already pointed out that commission credit was of no use to me as I am an infrequent trader.

If your transfer is still not complete after 9 months then I strongly recommend you post a public message on their facebook page. My transfer took 8 months to complete and all the messages and phonecalls in the world had no effect. The only thing that worked was putting a comment on their facebook page and then they really jumped into action and hey presto, it was sorted out within days! Jennifer K did the same and got the same result. Give it a go and let us know how you get on! :j

DiamondLil

juliamarsh wrote: »

If your transfer is still not complete after 9 months then I strongly recommend you post a public message on their facebook page. My transfer took 8 months to complete and all the messages and phonecalls in the world had no effect. The only thing that worked was putting a comment on their facebook page and then they really jumped into action and hey presto, it was sorted out within days! Jennifer K did the same and got the same result. Give it a go and let us know how you get on!

I agree wholeheartedly with Julia - no sooner had I posted a complaint on their facebook page than my complaint was taken up and acted upon.
All the 'phone calls and letters in the world got me nowhere, but that facebook post of mine produced a result in a matter of hours.
The power of social media.....

Fenella

juliamarsh wrote: »

I can tell you now that Inv Perp Corp Bond Income does pay income net as that is one of mine. Payments are made on 30th June and 30th December, HMRC should pay out the reclaimed tax on 17th August and 17th February and the payments should appear in your ISA a couple of days later. Well that is what used to happen with HL, but as you know things are done - or not done should I say - differently at iii! At least you only have to wrangle with them twice a year over that one, whereas I have 2 bond funds that pay income monthly so I have the pleasure of wrangling with them fairly constantly! And as I said, if they give you commission credits as compensation be aware that if there are any unused ones at the beginning of a new charging quarter they will automatically be wiped off your account and you will have to ring up to get them reinstated....more wrangling! :mad:

I have been with II several years now and used to get a tax rebate on my Invesco Monthly income ISA every month. Earlier this year they stopped being paid monthly but in July I had three payments being the May, June and July tax rebates. A few weeks ago I sent a secure message asking why I had not had any tax reclaims since July and they replied that since May dividends were paid gross so there would be no more tax reclaims. This did not make sense as I had had them for May, June and July. Also the dividends have not increased to show that they now include the tax reclaim part.
If I have the strength to do battle with them I will ring them up this afternoon about the missing tax reclaims.

juliamarsh

Fenella wrote: »

I have been with II several years now and used to get a tax rebate on my Invesco Monthly income ISA every month. Earlier this year they stopped being paid monthly but in July I had three payments being the May, June and July tax rebates. A few weeks ago I sent a secure message asking why I had not had any tax reclaims since July and they replied that since May dividends were paid gross so there would be no more tax reclaims. This did not make sense as I had had them for May, June and July. Also the dividends have not increased to show that they now include the tax reclaim part.
If I have the strength to do battle with them I will ring them up this afternoon about the missing tax reclaims.

Firstly the payment for the period ended 31st May would have been made on 17th July as they are always a couple of months after, so this could explain why you have had nothing since July. I am not sure which fund you hold, I have the Invesco Perpetual Monthly Income Plus and that is still paid net as far as I know, however I believe there are classes of this fund that do pay gross now. You will need to check which version of the fund you hold, here is the link to Invesco Perpetual's page listing all the ISIN numbers of the different share types (if you do hold the same fund as me) so you can check yours against that, https://www.invescoperpetual.co.uk/portal/site/ip/products/productDetail?contentId=bbcba68969bed210VgnVCM1000002e1ebf0aRCRD& but the fact that your dividends have not increased does strongly suggest that you are still being paid net. The most likely explanation is that they have introduced a new version that pays gross and some dingbat at iii has mistakenly assumed that that applies across all the share types in that fund! Best of luck!!

Fenella

juliamarsh wrote: »

Firstly the payment for the period ended 31st May would have been made on 17th July as they are always a couple of months after, so this could explain why you have had nothing since July. I am not sure which fund you hold, I have the Invesco Perpetual Monthly Income Plus and that is still paid net as far as I know, however I believe there are classes of this fund that do pay gross now. You will need to check which version of the fund you hold, here is the link to Invesco Perpetual's page listing all the ISIN numbers of the different share types (if you do hold the same fund as me) so you can check yours against that, https://www.invescoperpetual.co.uk/portal/site/ip/products/productDetail?contentId=bbcba68969bed210VgnVCM1000002e1ebf0aRCRD& but the fact that your dividends have not increased does strongly suggest that you are still being paid net. The most likely explanation is that they have introduced a new version that pays gross and some dingbat at iii has mistakenly assumed that that applies across all the share types in that fund! Best of luck!!

Thanks for that. I have checked with the Invesco Perpetual's page from your link and the ISIN number of the fund that I hold in my ISA and it says that the dividend is paid net. You are right in that some of the funds are paid gross and that III have made a mistake.
I did get a monthly tax rebate up to and including April 2014 and then 3 months payments in July which I assumed must be for May, June and July.
I will have a go by phone after lunch, though being Monday, I might have to hold on for a long time before my call is answered!

Financial_Saddler

iii did actually pay some tax credits into my SIPP in October for the following funds:
Invesco Perpetual Monthly Income Plus Z Acc
Jupiter Strategic Bond I Acc
Kames High Yield Bond B Acc

xylophone

I had to phone them today (ten minutes on hold) concerning a share dividend not received (these are usually dead on time) - I was told that I should see it in my account within a couple of hours....

Mu Unicorn income has still not arrived.....the usual within ten days of receipt explanation advanced...however, there has been an improvement on other fund holdings so I'll wait and see.

dutchism1958

juliamarsh wrote: »

I can tell you now that Inv Perp Corp Bond Income does pay income net as that is one of mine. Payments are made on 30th June and 30th December, HMRC should pay out the reclaimed tax on 17th August and 17th February and the payments should appear in your ISA a couple of days later. Well that is what used to happen with HL, but as you know things are done - or not done should I say - differently at iii! At least you only have to wrangle with them twice a year over that one, whereas I have 2 bond funds that pay income monthly so I have the pleasure of wrangling with them fairly constantly! And as I said, if they give you commission credits as compensation be aware that if there are any unused ones at the beginning of a new charging quarter they will automatically be wiped off your account and you will have to ring up to get them reinstated....more wrangling! :mad:

Thanks Julia,

I got confirmation from HL today when i rang them,they also confirm that M&G Corp Bond Class A Inc is gross so no tax to reclaim.

dutchism1958

DiamondLil wrote: »

I agree wholeheartedly with Julia - no sooner had I posted a complaint on their facebook page than my complaint was taken up and acted upon.
All the 'phone calls and letters in the world got me nowhere, but that facebook post of mine produced a result in a matter of hours.
The power of social media.....

Yes, I confirm what Diamond Lil has said as the best route to getting a resolution on your issues.
Interestingly I got a secure message from Crawford McMillan on Saturday(customer services executive) who blamed my delay in responses and complaint handling down to "increased contact" on their customer service lines.I mentioned the result I got following my facebook complaint(all messages responded to within 24 hours so far and dividends updated).They can do it when it hurts them!.Good luck

JenniferK

xylophone wrote: »

Mu Unicorn income has still not arrived.....the usual within ten days of receipt explanation advanced...however, there has been an improvement on other fund holdings so I'll wait and see.

Neither has mind and to me the 10 working days of receipt is hogwash. If they want to insist on 10 working days then it should be payment day - not the day that FNZ decide to pay III.

So far all dividends from AJ Bell have been credited on payment day. Just two more dividends via III and then I'm FREE :T