Charles Stanley Direct

amillionlittlepieces

Having just opened a S&S ISA with CSD, I had a spare £200 at the end of this month and deposited the money. When I have tried buying funds, it is saying that some need a minimum purchase of £500 per fund.

Also, when I try to set it up monthly, it says I need a minimum deposit of £1000 per month for a number of different funds.

Is this right that there is restrictions or am I in the wrong place? It is just some index funds I am trying to buy.

Thanks

JohnRo

Without checking directly, I think the rule is that the initial fund investment has to be £500 minimum, further additions to a fund held on account then have a minimum £100 threshold.

I suspect the £1000 monthly investment you mention there relates to you setting up two new funds with a minimum £500 initial each that you don't hold currently.

masonic

JohnRo wrote: »

I suspect the £1000 monthly investment you mention there relates to you setting up two new funds with a minimum £500 initial each that you don't hold currently.

There should be different minimums for regular investment plans vs. one off orders, so I'd be surprised if it was necessary to invest so much in the first month of a regular plan. Typically it used to be a minimum of £50 per fund, which has more recently dropped to £20 per fund.

I've got no direct experience of CSD, but I'm pretty sure others have been able to invest monthly with lower limits than the OP describes.

JohnRo

I think you're right, having looked they mention £50 minimum

CSD wrote:

How do I set up an instruction to invest monthly?

Monthly investments are only available into funds.

Please logon then, under your “Dashboard” dropdown menu, and click on “Portfolio” and “Monthly Investing”. From there you can create a new monthly arrangement to invest into funds, from £50 per month up to £10,000. These orders will be placed on your behalf on the 10th of each month or the first business day after the 10th of the month. If you do not have sufficient funds in your account by the 10th of the month to cover the full cost, your order(s) may only be partially filled or may fail.

Perhaps the numbers the OP describes relate to purchasing funds outside the regular investment scheme.

I haven't used funds on CSD or anywhere else for quite some time now, about 2 years, scary how time flies.

nellis10

I've just this week set up an ISA with CSD paying in £100/month via direct debit (initial debit card of £100 to get the ball rolling).

I've set up one fund VLS80 for 100% of my monthly payment going to this fund. They've told me that it will be bought on the 10th of each month, so my direct debit or debit card transaction needs to be in place prior to that.

I had to send off the direct debit mandate to them, hence I made the initial £100 contribution via debit card.

If I wanted to buy funds immediately, but NOT by monthly investment, then the minimum I would have to buy is £500.

HTH, Nat.

amillionlittlepieces

Thanks everyone. I had set up a basket of funds, with one of them having a percentage of the monthly investment at 5% - the minimum of each fund is £50 therefore £50/5% meant an overall monthly investment of £1000. It was. Just my allocation percentages.

Also, I think. That for one off purchases a minimum of £500 applies which is different to the monthly investing.

Thanks all for your responses