i web isa transaction charge

mears1

A quick question, does the £5 transaction charge for funds always come out of the ISA account, instead of another account with iweb?  Lots of £5 transactions will eats into the ISA pot. I realise the ongoing charge is taken out of the isa fund.

Would be interesting to know if this is the same for other platform providers?

thegentleway

Yes. AFAIK it’s the same with all providers.

iWeb is fantastic for buy and hold but not so much for frequent traders

EthicsGradient

Interactive Investor's monthly charge can be paid directly, outside the ISA, and the one trading credit per month can then be used for the ISA. Not that this makes it worth using II on its own, but it's something.

dunstonh

Most platforms dont have transaction charges unless you buy listed assets.   Many platforms allow the redirect of certain charges to either the GIA or the external cash account, if you have one.

ColdIron

The £5 is taken from the transaction amount. If you buy £1,000 of something £5 will be withheld and £995 will be spent on the asset

There are no IWeb ongoing or platform charges

Some other providers will allow platform charges to be taken outside the ISA but I am not aware of any that allow the redirection of trading charges