Cavendish Online S&S ISA

patch9495

Morning All,


I have recently created a new Stocks and shares isa through cavendish online, giving me access to the Fidelity platform.


I have noticed that when placing orders on the Fidelity platform £45 per year platform fee which with only £1k invested works out more than the 0.25% advertised by Cavendish online?


Additionally I am unable to withdraw uninvested cash funds even after waiting a day for my initial deposit to clear?


Thanks in advance
Alex

talexuser

I don't have my ISA with them anymore but when I was the £45 fee was when you went through Fidelity, and you did not pay it through Cavendish. Also they are not a clearing bank so cash transfers can take a couple of days.

Hopingforthesimplelife

Hi Alex

I have a S&S ISA with Fidelity via CO and remember I was initially charged the higher fidelity rate rather than the discounted CO rate when I first started.

A simple call sorted it out and I was reimbursed the monthly fee that they mistakenly took (I received a cheque for £3.75 which I remember finding quite bizarre at the time).

I can't help you on your second query.

Albermarle

a new Stocks and shares cash isa

It is either a S&S ISA or Cash ISA, it can't be both .

Additionally I am unable to withdraw uninvested cash funds even after waiting a day for my initial deposit to clear?

An S&S ISA is an investment vehicle . They are not designed for moving cash around quickly , normally most people use a current bank account for tis.

patch9495

Thanks for the replies, I have contacted CO and they are transferring my account to themselves and refunding the fee.


Whilst I understand that an ISA is not designed for easy access cash I prefer the knowledge that my cash can be accessed if required which at the moment it cannot.


Thanks
Alex

patch9495

Apologies, it is a S&S ISA