Interactive Investor - Regular Investing Dates

older_and_no_wiser

I'm using the II Regular Investing service with my SIPP. I have a direct debit set up which takes a monthly contribution on the 12th of each month. Then the regular investing trade is set for the 2nd. Obviously this is a long gap between the money going into ii and the fund purchase. I can't see any way online to change either of these dates. I don't think I was given a choice of DD day when I set this up.
Would the above be possible? Would I need to message/speak with ii to sort this?

aroominyork

Phone them.

EthicsGradient

Have you just been transferred in to them from another platform, eg EQi? The investment date used for existing II customers until now has been the 3rd Wednesday in the month (ie varies from 15th to 21st), but with the same direct debit date of the 12th (or the next working day), as it still says here: https://www.ii.co.uk/investing-with-ii/regular-investing . I've seen a web page about the EQi transfer saying they'd use the 1st Wednesday in a month, but wondered if that was a mistake. It does seem strange to use a DD date so long before the investment would be.

older_and_no_wiser

EthicsGradient said:

Have you just been transferred in to them from another platform, eg EQi? The investment date used for existing II customers until now has been the 3rd Wednesday in the month (ie varies from 15th to 21st), but with the same direct debit date of the 12th (or the next working day), as it still says here: https://www.ii.co.uk/investing-with-ii/regular-investing . I've seen a web page about the EQi transfer saying they'd use the 1st Wednesday in a month, but wondered if that was a mistake. It does seem strange to use a DD date so long before the investment would be.

I created a new account and transferred an existing pension from ReAssure

aroominyork

Phone them.

older_and_no_wiser

Not had much luck with this. I spoke with them and was told their regular investments always go out on the first Wednesday of each month, so I can't change that date. They also said it wasn't possible to change my direct debit date(!). The only way around this is for me to make a manual payment (via a registered debit card) each month. I'd rather not do this if possible - yet one more thing I need to remember to do each month! This all sounds a bit inflexible. Has anyone else had similar issues with II?

StevieJ

My dates this month are DD Subscription 12th May 2021 Investment due 19th May 2021.

EthicsGradient

swleventhal said:

Not had much luck with this. I spoke with them and was told their regular investments always go out on the first Wednesday of each month, so I can't change that date. They also said it wasn't possible to change my direct debit date(!). The only way around this is for me to make a manual payment (via a registered debit card) each month. I'd rather not do this if possible - yet one more thing I need to remember to do each month! This all sounds a bit inflexible. Has anyone else had similar issues with II?

Did you mention to them that their web pages say the 3rd Wednesday of the month, not the 1st? Here's the link to exactly where it says that: https://www.ii.co.uk/investing-with-ii/regular-investing#keydates

older_and_no_wiser

I've been back in touch and they've spoken with the "SIPP people". The response was that because the free Regular Investing monthly service is so popular, they have had to change the investment date from the 3rd Wed to the 1st Wed for new customers (me!). They must have hit some sort of purchase/trading limit. They have raised this as an issue and apparently a number of other people have also complained. So I guess I'm stuck with it for the foreseeable. 

coyrls

EthicsGradient said:

swleventhal said:

Not had much luck with this. I spoke with them and was told their regular investments always go out on the first Wednesday of each month, so I can't change that date. They also said it wasn't possible to change my direct debit date(!). The only way around this is for me to make a manual payment (via a registered debit card) each month. I'd rather not do this if possible - yet one more thing I need to remember to do each month! This all sounds a bit inflexible. Has anyone else had similar issues with II?

Did you mention to them that their web pages say the 3rd Wednesday of the month, not the 1st? Here's the link to exactly where it says that: https://www.ii.co.uk/investing-with-ii/regular-investing#keydates

Yes, I noticed this.  I think their Web pages are wrong.  If I go to the "Free Regular Investing" tab in my account, it says Investment date 2 June 2021, which is the 1st Wednesday of the month.

Thrugelmir

swleventhal said:

I've been back in touch and they've spoken with the "SIPP people". The response was that because the free Regular Investing monthly service is so popular, they have had to change the investment date from the 3rd Wed to the 1st Wed for new customers (me!). They must have hit some sort of purchase/trading limit. They have raised this as an issue and apparently a number of other people have also complained. So I guess I'm stuck with it for the foreseeable. 

Probably to spread their internal work load and reduce the pressure on access to market makers. With a high volume of low value transactions.