TD/II or iWeb

jamei305

Economic wrote: »

The IWeb Share Dealing Service is operated by Halifax Share Dealing Limited. Let us know when Halifax Share Dealing Limited is dissolved!

I guess it will take a while for HBOS to be dissolved and fully subsumed into Lloyds, especially as it's still under investigation for misdoings prior to the financial crisis.

jamei305

IanManc wrote: »

IWEB (UK) Ltd last submitted full accounts for the year to 31.12.2010, thereafter there were two sets of annual "accounts for a dormant company".

Stated in the first of those accounts is that on 15.12.2009 the customers, trading assets and liabilities of IWEB (UK) Ltd were transferred to the parent company Halifax Share Dealing Ltd, and that since then Halifax has maintained the IWEB brand as part of its operations, and that it was intended to liquidate the IWEB (UK) Ltd company.

So the subsequent liquidation of IWEB (UK) Ltd is of no significance, and as far as customers are concerned nothing has changed since 2009.

It was significant in the context of bowlhead's point about little admin things cropping up to prompt Halifax Sharedealing to treat the IWeb brand differently after 15 years of inactivity.

cloud_dog

Hi

Apologies, slightly off topic but, I didn't want to start another TD/II to iWeb thread.

I have completed a transfer from TD to iWeb (sad to go) and my question relates to the speed of dividend payments in iWeb? Specifically, I have HSBC shares and the divi was paid on 22 November.

TD were always very quick with payment but the divi is not in the new iWeb account. I've checked the old TD/II account and both (GIA/ISA) accounts show as 'closed' (I expect they are waiting for confirmation to completely close the account), with no divi or monies showing.

The transfer completed a couple of weeks ago. Is it possible the divi may have still gone to TD/II and they are (hopefully) processing the payment over to iWeb or do iWeb tend to take a number of days to process divis (like ye 'ole style cheque clearance)?

badger09

cloud_dog wrote: »

Hi

Apologies, slightly off topic but, I didn't want to start another TD/II to iWeb thread.

I have completed a transfer from TD to iWeb (sad to go) and my question relates to the speed of dividend payments in iWeb? Specifically, I have HSBC shares and the divi was paid on 22 November.

TD were always very quick with payment but the divi is not in the new iWeb account. I've checked the old TD/II account and both (GIA/ISA) accounts show as 'closed' (I expect they are waiting for confirmation to completely close the account), with no divi or monies showing.

The transfer completed a couple of weeks ago. Is it possible the divi may have still gone to TD/II and they are (hopefully) processing the payment over to iWeb or do iWeb tend to take a number of days to process divis (like ye 'ole style cheque clearance)?

Sorry, I can't answer your question, but wonder if the dividend will have gone to the platform which held your shares on the date the dividend was paid, presumably TD/II?

xylophone

I enquired of II what would happen about any payments due to come into the account after the transfer and was told that they would be sent on to the new provider.

cloud_dog

I'm confident the shares had been re-registered to iWeb a number of days (weeks) prior to the divi payment date, i.e. 22 Nov. The last action that is undertaken in the transfer is the (any) cash element from your ISA, and that was 10 Nov., and the shares were visible in iWeb a large number of days in advance of this, i.e. 3 Nov.

It is likely that iWeb may be slightly slower in processing divi payments; after all Friday was only the 24th. I'll give iWeb a few more days see if it arrives early next week.

Alexland

Yup sounds like you just have to wait. For what it's worth I find Halifax a bit slow in general too but it doesn't matter as they seem to get there eventually. I just use Halifax to hold a static VLS fund for which they are excellent value.

I transferred my current year Nutmeg ISA to Vanguard earlier in the year and a £7 ETF dividend appeared in the old account and so the platforms initiated another transfer. But then Nutmeg have just offered me £100 to move it back again (maybe my LISA was getting lonely) which is tempting as it would basically cover their platform and fund fees for the minimum 12 months before it would probably move again.

Alex

badger09

IanManc wrote: »

The dividend would be paid to the platform which held them on the record date/ex-dividend date, not the one which held them on the date of payment of the dividend, so you need to know the record date for the shares and which platform held them at that time to be sure where the dividend has been sent by the company registrars.

That is actually what I was trying to say above, but obviously worded it very badly:o

xylophone

Relative holds HSBC - dates here

http://www.hsbc.com/investor-relations/share-and-dividend-information/dividend-timetable

cloud_dog

Yes....record date makes sense.