iWeb S&S ISA charges.

masonic

wiseonesomeofthetime said:

happybagger said:

Was just looking at iweb and for anyone not yet with an account considering it, please note:
Pay £25 (increasing to £100 from 4th January 2021) to open your account and then invest tax-efficiently for £5 dealing commission per trade.

I was looking to use iWeb for access to a VanGuard LS S&S ISA next April, but a £100 charge would be an obstacle for me.
I shall research myself, however, I assume there is nothing stopping me opening an iWeb account today for £25, yet not fund anything until next tax year.

If you want to use iWeb, open a share dealing account now. The charge only applies to the first opened account. It might also be possible to open a S&S ISA, but there is a chance this may be closed if not funded.

Alexland

wiseonesomeofthetime said:

I was looking to use iWeb for access to a VanGuard LS S&S ISA next April, but a £100 charge would be an obstacle for me.
I shall research myself, however, I assume there is nothing stopping me opening an iWeb account today for £25, yet not fund anything until next tax year.

They might close an unfunded ISA but if you stick £1 in the Share Dealing Account (that you also get) then you can always reopen the ISA next tax year as they don't charge it again for opening extra accounts.

wiseonesomeofthetime

masonic said: If you want to use iWeb, open a share dealing account now. The charge only applies to the first opened account. It might also be possible to open a S&S ISA, but there is a chance this may be closed if not funded.

I am unable to fund another ISA in 20/21, so that is not an option.

The other, definitely is.

Thank you @masonic and @Alexland

happybagger

I was looking to transfer my age-old directly bought Legal & General ISAs to my Fidelity (ex-Cavendish) account, but for some reason it has been "cancelled", so I think I will go via this route into iWeb while it's still at £25. I want to open the account in advance of any possible changes to the charging structure of ex-Cavendish customers. Like the above, I have already subscribed to a shares ISA elsewhere this tax year.

Froggitt2

happybagger said:

I was looking to transfer my age-old directly bought Legal & General ISAs to my Fidelity (ex-Cavendish) account, but for some reason it has been "cancelled", so I think I will go via this route into iWeb while it's still at £25. I want to open the account in advance of any possible changes to the charging structure of ex-Cavendish customers. Like the above, I have already subscribed to a shares ISA elsewhere this tax year.

If Fidelity think their ex-Cavendish customers are anything other than low cost charge tarts, they will be sorely mistaken when they try to hike the charges....they will have spent millions on acquiring nothing!!!

wiseonesomeofthetime

Advice above followed and have opened a Share Dealing Account with iWeb.

Shall apply fo S&S ISA on 6 April 2021 - free to open 😁