Nat West Self Select Stocks and Shares ISA

wisesaver

I received mail this morning from Nat West saying that they are changing the terms and conditions of the above investment product. The new terms and conditions, together with the fact that there are currently no financial penalties for transferring out of the product, would certainly seem to imply that they are pulling out of this market.

Can anyone recommend a suitable replacement that I can transfer into?

eskbanker

There's a pretty wide market of S&S ISA platforms - in terms of what 'suitable' means to you, you don't say what sort of investments you specifically wish to hold or what criteria you'd be evaluating options against, but you can compare the relative costs of main players via a number of comparison sites such as:

http://monevator.com/compare-the-brokers/

http://www.comparefundplatforms.com/

https://www.boringmoney.co.uk/calculator/

wisesaver

Thank you eskbanker for the reply.

The Nat West product had worked perfectly for me up until now as it allowed me to buy and sell shares within the ISA at a low dealing cost and their annual charges were up until now very reasonable. So, "suitable" was really a similar product.

Thank you for the links, very, very useful and really appreciated.

Albermarle

currently no financial penalties for transferring out of the product, would certainly seem to imply that they are pulling out of this market.

Although transfer charges can be applied it is becoming relatively uncommon and I think probably you can not read too much into this .

Natwest are still offering a S&S ISA to new customers , but only five funds available , so a kind of simple robo investment.

onthebench

wisesaver said:

I received mail this morning from Nat West saying that they are changing the terms and conditions of the above investment product. The new terms and conditions, together with the fact that there are currently no financial penalties for transferring out of the product, would certainly seem to imply that they are pulling out of this market.

Can anyone recommend a suitable replacement that I can transfer into?

What are the changes? I am looking to open a self-select ISA and currently bank with NatWest, I assume this is no longer one worth considering?