Interactive investor price hike

mabenson

Hi,

Just had an email from iii saying their price per quarter is going up to £22.50. I haven't traded in ages and have about 5k of shares I just take dividends from. Obviously that means iii's fees are cutting into my earnings. This latest price hike has spurred me into action, I know I should have sorted this out a while ago, I just never got round to it. What's the best platform around at the moment for just holding shares?

Thanks

Matt

Vortigern

I don't know who's best but X-O do not charge for holding shares.

grey_gym_sock

if this is in an ISA, then any of the following providers would work:

- ig group (except for an inactivity fee after 2 years' inactivity, but receiving dividends counts as activity)
- iweb (but there is a fee of £25 to open the account)
- saga share direct (only available to over 50s)
- svs xo
- x-o.co.uk (but there is a fee of £60 to close the account)

the above providers won't charge for just having an account open, or for opening or closing an account (except where stated). however, most (all except ig group) will charge to transfer out to another provider.

if it's a taxable account, then the same providers would work, and there are also a few more options:

- equiniti (shareview) investment account
- halifax share dealing
- hargreaves lansdown (but there is a fee of £30 to close the account)
- idealing (no fee if you opt for the "admin free" tariff, which has slightly higher dealing fees) (but there is a fee of £72 to close the account)
- shareprice.co.uk (this is actually iii under another name!)

however, all those will charge to transfer out to another provider.

do you also want dividends paid out automatically? not everybody does that.

Tom99

Halifax charge £0 for a sharedealing acct and £12.50 if its an ISA. No charge for paying divs into your bank account.

traineepensioner

I'm with them but haven't yet received the email. :-(

However, I do like the change to allow you to accrue up to £90 commission free trade instead of losing it at the end of each quarter. :-)

https://www.investmentweek.co.uk/investment-week/news/3019719/interactive-investor-updates-pricing-structure-to-flat-fee-model

EDIT.....Just got the email this evening. I think that I'll be staying with them. It's still a good deal for me and the charges are far less than a lot of other platforms.

smnberryman

I'm with interactive investor, can I now leave without paying the leaving fees?

BLB53

I'm with interactive investor, can I now leave without paying the leaving fees?

Check your terms and conditions but I think it's extremely unlikely they will let people move away for free.

AnotherJoe

I am with TD and had an email this morning saying it was free to xfer out before Oct 2018. However whether that applies to II customers i dont know.

smnberryman

BLB53 wrote: »

Check your terms and conditions but I think it's extremely unlikely they will let people move away for free.

Oh right, had assumed a change in terms and price hike would mean customers could leave without having to pay the fee

AnotherJoe

smnberryman wrote: »

Oh right, had assumed a change in terms and price hike would mean customers could leave without having to pay the fee

And you were right. This is copied out of the email i got this morning

No fees to transfer out before October 2018
As we’d like you to stay with us and have plenty of time to try out your improved service, there will be no transfer-out fees charged if you choose to leave us before the end of September 2018.

smnberryman

AnotherJoe wrote: »

And you were right. This is copied out of the email i got this morning

No fees to transfer out before October 2018
As we’d like you to stay with us and have plenty of time to try out your improved service, there will be no transfer-out fees charged if you choose to leave us before the end of September 2018.

My email from II doesn't say this