A massive price increase at ii

jaybeetoo

You’ve got to love the marketing people at ii.  Only they could sell a price increase as “From 1 October 2020, we are removing some fees and simplifying others.”!

Today, on the £9.99 a month Investor Plan, you get a £7.99 credit a month that lasts for 3 months.  It can be used against any trade.  I found it useful to pay for automatic dividend reinvestment (£0.99).  However, from 1 October, the credit is being removed and replaced by one free trade a month.  If you don’t trade in a month (I don’t most months - excluding dividend reinvestment) this represents a £7.99 a month price increase.  By my calculation this is an 80% price increase!

[Deleted User]

You sure?
From the 1st October fee page
"For each Service Plan, every month we give you Free Trade Credit worth £7.99 to be used against any trade. This credit is available for 90 days after which it expires."
So no difference then
Rate card here
https://media-prod.ii.co.uk/s3fs-public/pdfs/Rate_Card_Oct20.pdf

jaybeetoo

On the link ii sent me, it says you’ll get one free trade a month.  It says nothing about a trading credit or a 3 month expiry.  I’ll contact them.  If it is one trade a month, it’ll be cheaper for me to move my trading account, ISA and SIPP to Hargreaves Lansdown.  I never thought I’d be saying that!

TBC15

First the joint accounts went then this swines.

jaybeetoo

ii have confirmed you get a £7.99 trading credit valid for 3 months which can be used for any trades (e.g. several dividend reinvestments).  It’s a pity their web site didn’t say that on the link their message sent me to.