Interactive Investor to roll out ‘Netflix pricing’

aroominyork

JohnRo wrote: »

You're conflating cheaper with economic.

Making more trades than you would otherwise to get the most out of a more expensive option isn't 'cheaper'

Nonsense. I didn't say it would lead me to make more trades.

EthicsGradient

Lokolo wrote: »

For me;

7 holdings. 14 trades (sell and buy for rebalance once a year).

Old Scheme:
£120 SIPP Fee
£90 Account Fee
5 Trades @ £10 each (9 are free)

Total: £260

New Scheme [Investor]
£120 SIPP Fee
£119.88 Account Fee
11 Trades @ £7.99 each (3 are free, based on 90 days)

Total £327.77

New Scheme [Funds Fan]
£120 SIPP Fee
£167.88 Account Fee
8 Trades @ £3.99 each (6 are free, based on 90 days)

Total £319.80

It occurred to me that they've said they're happy with people changing plans any time. So if you want to stick with II, and still do your 14 trades at one time of year, then what you should do is stick in the Investor plan for 11 months, switch for 1 month to Funds Fan, and then switch back.

You build up £7.99 'free credit' each month whatever plan you're on, and it lasts up to 90 days. So you have a nearly 30 day window in which 3 month's built-up credit, ie £23.97, is available. If you're on the Funds Fan plan in those 30 days, you can trade your funds at £3.99 - 14 trades is £55.86, minus £23.97 is £32.89. You also pay £9.99 for 11 months, and £13.99 for 1.

Total is 9.99*11 + 13.99 + 32.89 + 120 (SIPP fee) = £276.77. A little more than now, but not as bad as keeping on one plan. You have the hassle of switching twice, of course.

The "switch for 1 month to Funds Fan" would be worth it, I think, for anyone contemplating using up all their free credit and doing at least 1 more trade in a month (say, 4 trades in 3 months) - pay £4 more in the monthly fee, but get up to 6 free in one month, and £4 off any trade you have to pay for.

BigBlueSky

aroominyork wrote: »

I just asked ii whether they can take fees from the balance on my accounts in future, instead of by direct debit. They can, but only from my ISA and not from SIPP. If they could take it from SIPP there would be a tax benefit but taking it from ISA causes a tax loss, so I'll leave it as direct debit.

Is this changing then? - I currently have my fees taken from my SIPP cash balance ?

LHW99

Is this changing then? - I currently have my fees taken from my SIPP cash balance ?

Have you 'always' been an II customer, or were you transferred in from TD?

BigBlueSky

LHW99 wrote: »

Have you 'always' been an II customer, or were you transferred in from TD?

I moved directly to II a number of years ago.

Edit - Back in 2014.

aroominyork

BigBlueSky wrote: »

Is this changing then? - I currently have my fees taken from my SIPP cash balance ?

Maybe I should have said that the person I spoke to had to check with her manager whether fees could be taken from a cash balance, and then check again the order they would be taken if you had cash in both ISA and SIPP (answer: ISA only). So I wouldn't take it as gospel. I have just sent them a secure message to check this, and also to ask (re post #83) if you can change plan as often as you like and whether the trading credits are reset to zero if you do switch.

LHW99

BigBlueSky wrote: »

I moved directly to II a number of years ago.

Edit - Back in 2014.

Similar to myself then, so I won't bother to ask again just now.

username901

Had a quick search but couldn't see an ii feedback thread. Recently transferred my pension here, received cashback ok, and had intended on opening a ISA here too. However in my short time here I've had a couple of issues:

Received a trading credit, and then same day purchased a fund. Some days later the credit was still showing, upon asking CS they said as the credit was given the same day the trade wasn't elligible (even though the trade itself didn't seem to occur until the day after). Fine, I now wait 2-3 days after free credit appears.

This weekend I decided to transfer the £100 switch bonus from my trading account to my sipp which currently has £93 cash in it. Set to action on monday. My Trading account read £0 but still not reflected in my Sipp cash pot. Emailed CS this morning and within a few minutes replied to say its showing in my sipp. I logout and back in, still not there. Emailed them straight after and now they've gone quiet on me.

Par for the course with these guys?

JohnRo

username901 wrote: »

Par for the course with these guys?

In my past experience that's probably just a taster of things to come.

Their customer service is fantastic, for about as long as you don't actually require it to solve a problem.

username901

JohnRo wrote: »

In my past experience that's probably just a taster of things to come.

Their customer service is fantastic, for about as long as you don't actually require it to solve a problem.

Was hoping you wouldn't say that :rotfl:
Next step was to try and setup an employer one off contribution... wish me luck