Authorised LISA Managers

BM5118

Im being lazy now and just asking instead of researching... but do they have a direct debit facility to collect fees from my current account for example? Allowing for the full 4 then 5k to be invested into my selected funds. Im just thinking it would make for easy maths but again maybe I've got this all wrong!

Alexland

Please don't be lazy and do your own research into the products as it is important you have an understanding to ensure they are suitable for your circumstances and you know how to operate them.

But to answer your question neither HL or YouInvest collect fees via DD they will use the cash balance in the LISA account so just leave enough in cash to cover the percentage fees on the total investment (including the bonus and growth) until you can & will next contribute.

Don't cut it too tight particularly on YouInvest as their fee to force sell down holding to pay fees is expensive.

HL have an option to collect fees from a parallel 'fund & share' general investment account cash balance but you would still need to keep an eye on that balance, it's an extra account to manage and would eventually have it's own closure fee (unless FCA ban them by then).

Alex