Do iWeb sometimes reduce the setup fee for a S&S ISA?

Hi, am going to do a tranfer from HL to iWeb to start using the account and become familiar with it. I have the money in HL just sitting in cash, not invested into any funds yet. I was hoping this will be a straightforward transfer and not take upto 6 months as I have read others experienced.

The fee for iWeb is £100 and used to be £25, I did read that sometimes they drop it again. Does anyone know if this happens often? is it worth waiting for?

Replies

  • jimjamesjimjames Forumite
    16.7K Posts
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Forumite
    I guess it depends if you're prepared to wait 2 years or whenever it might be. If you have a decent size portfolio you'd save more than £75 in a year by moving to iWeb from HL. I can't see any reason why it would drop at the moment, they do need to make money from somewhere
    Remember the saying: if it looks too good to be true it almost certainly is.
  • isayhelloisayhello Forumite
    370 Posts
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    Forumite
    Thanks, I'm just a bit new still and wasn't sure if others had a better idea. I would wait if they did but it doesn't sound like it will happen anytime soon.

    It's a smaller pot at the moment I'm moving, about 20k and if things go smooth then I think I'd eventually move a larger pot from Vanguard.
  • AlexlandAlexland Forumite
    9.5K Posts
    Fifth Anniversary 1,000 Posts Photogenic Name Dropper
    Forumite
    If they are overloaded with transfer work at the moment it seems unlikely they will want to reduce their price such that they get even more customers with transfer requests...
  • eskbankereskbanker Forumite
    25.3K Posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Forumite
    isayhello said:
    Thanks, I'm just a bit new still and wasn't sure if others had a better idea. I would wait if they did but it doesn't sound like it will happen anytime soon.

    It's a smaller pot at the moment I'm moving, about 20k and if things go smooth then I think I'd eventually move a larger pot from Vanguard.
    That notional £75 IWeb fee saving you're hoping for should be outweighed by less than one month's long term average growth from your £20K pot that's currently sitting around earning nothing, so why wait?
Sign In or Register to comment.
Latest MSE News and Guides

Did you know there's an MSE app?

It's free & available on iOS & Android

MSE App

Regifting: good idea or not?

Add your two cents to the discussion

MSE Forum

Energy Price Guarantee calculator

How much you'll likely pay from April

MSE Tools