IWEB - FSCS protected or not?

badm88n

<original post edited to avoid confusing people looking to use IWEB>
To avoid any confusion, yes they are protected.

wmb194

"The IWeb Share Dealing Service is operated by Halifax Share Dealing Limited. Halifax Share Dealing Limited. Registered in England and Wales no. 3195646. Registered Office: Trinity Road, Halifax, West Yorkshire, HX1 2RG. Authorised and regulated by the Financial Conduct Authority, 12 Endeavour Square, London, E20 1JN under registration number 183332. A Member of the London Stock Exchange and an HM Revenue & Customs Approved ISA Manager"

badm88n

Aha that puts my mind at ease, thanks!!!

mr_accountant

MSE do not recommend anything,  whether that's a s & s ISA, bank account or anything else, its information only and the reader has to make the decision.

Re Iweb there part of Halifax which is part of Lloyd's banking group, a £20 billion company, unlikely to go bankrupt IMO. 

dunstonh

To avoid any confusion, yes they are protected.

Although it would depend on the assets you are investing via them.

If it is shares, for example, then there is no FSCS protection.

tropic_of_Username019

dunstonh said:

To avoid any confusion, yes they are protected.

Although it would depend on the assets you are investing via them.

If it is shares, for example, then there is no FSCS protection.

In some senses, it's true that shares don't have FSCS protection.

However, if IWeb's nominee company turns out not to be holding all the shares it should be holding on my behalf, due to some administrative error on their part, wouldn't I have a claim against IWeb? And if IWeb were unable to pay the claim, wouldn't the FSCS pay it?