Interactive Investor to roll out ‘Netflix pricing’

LHW99

Mine doesn't; neither of them. I have a vague recollection of asking them how I could arrange for this to happen, and I'm pretty sure their response at the time ran along the lines of "you cannot".

Yes mine are the same and I got the same answer when I asked!

masonic

londoninvestor wrote: »

You can choose your pricing plan - they'll default you to one but they say this will be visible by 15th April, so time to change before 1st June.

I hold almost entirely funds but I'm sure the £10 plan will work best for me.

(The FT article seemed a bit confusing - I can see how it gives the impression that you won't be allowed to trade funds unless you have the £14 one... whereas in fact that plan just discounts fund trades from £8 down to £4.)

Ok, so I have no doubt the lowest price plan will be best for me. I have generally used the trading credit for sales and had to pay for a few £1 buys, so I'm looking at 2 free sells and 10 free buys a quarter for £30 instead of 2 free sells and 2 free buys a quarter for £22.50.

londoninvestor

masonic wrote: »

Ok, so I have no doubt the lowest price plan will be best for me. I have generally used the trading credit for sales and had to pay for a few £1 buys, so I'm looking at 2 free sells and 10 free buys a quarter for £30 instead of 2 free sells and 2 free buys a quarter for £22.50.

Makes sense.

I don't use Netflix, but I imagine it's a bit confusing trying to remember how much free film credit you have left each quarter, and which days of the month you can watch a film for 1/8 of the normal price :rotfl:

jaybeetoo

This page has a table at the bottom which shows the new charges. I think it is clearer than the FT article.

https://www.moneyobserver.com/news/interactive-investor-introduces-new-monthly-fee-model

Alexland

masonic wrote: »

It's unclear whether or not the £1 regular investing feature will survive this, so my buy orders will either stay the same, or rocket in price.

It didn't survive, it's now 99p.

https://media-prod.ii.co.uk/s3fs-public/pdfs/ii_Service_Plans_and_Other_Charges_1June2019.pdf

So just do lots of regular trades and all those pennies will pay the new higher account fees :-)

Lokolo

LHW99 wrote: »

Yes mine are the same and I got the same answer when I asked!

Same with me. It seems London got a good deal!

cattie

I was all ready yesterday to sign up with ii to get my isa pot of around £110k transferred over, plus to transfer a £25k cash isa in May when it matures & adding this years 20k allowance in 2 or 3 stages over the next few months. I'm unsure now of how it would financially stack up for me compared to iweb or Vanguard (I'd probably choose to have the whole lot invested in Vanguard funds then).

I'd be very grateful for any pointers or help on this.

Alexland

Looking at the II help pages there does seem to be an option to cancel your quarterly fee DD and they would collect the fees out of the account cash balance. For those with only a SIPP this might be worth checking with them?

Can I cancel the Direct Debit Instruction option to pay my fees automatically?

Yes you can cancel the Direct Debit any time. You’ll need to contact your bank to cancel the instruction first. Please notify us once this is done so we don’t try to take any fees by Direct Debit.

Any future fees will need to be paid separately. The fee will be taken from any cash balance you have in your account, or linked account at the time the fee is charged.

If there’s insufficient cash in your account at the time, the fee will show in the Pending, or Unpaid fees section of the Manage Fee Payments page.

https://help.ii.co.uk/system/templates/selfservice/ii/help/customer/locale/en-GB/portal/402800000001013/content/Auth-5272/Setting-up-a-Direct-Debit-Instruction-for-ther-fixed-quarterly-payment

Alex

mollycat

Cattie, I only have a isa with II, with 9 seperate holdings in it.

So unless I have read it wrong iWEB would be better for me, £25 to open an isa, no inactivity fee and £5 per trade, (which I do infrequently using my trading credit on II).

Things that put me off are the possibility of iWEB changing there price structure and incurring buy/sell charges for each of my holdings to transfer.
Happy to be put right regarding the above, I admit I havent researched the T&Cs yet but will do before taking any action.

Alexland

cattie wrote: »

I was all ready yesterday to sign up with ii to get my isa pot of around £110k transferred over, plus to transfer a £25k cash isa in May when it matures & adding this years 20k allowance in 2 or 3 stages over the next few months. I'm unsure now of how it would financially stack up for me compared to iweb or Vanguard (I'd probably choose to have the whole lot invested in Vanguard funds then).

I'd be very grateful for any pointers or help on this.

£155k at 0.15% on Vanguard Investor would be £232.50 per year which is high for an ISA.

If you only intend to hold one or two funds with occasional re-balancing then iWeb (£25 setup + £5 per trade) or Halifax Share Dealing (£12.50 pa + £2 per regular trade) would work out cheaper than Vanguard Investor or II. Which funds do you intend to hold?

There is always the possibility of iWeb / HSD increasing their prices next - hope not!

Alex