iWeb - Account Closure?

ChilliBob

Oh and check your spam, the email isn't the best, I did read a couple of times to see if it looked dodgy, and didn't click anything in it. 

Alexland

ChilliBob said:

On the blower now, they claim they cannot reopen, would have to join again. But I'm getting a statement of all trade history posted to me, which is useful for starters. Good detective work though! I may try again tomorrow 

I suggest you ask to raise a complaint. I can understand why they would have closed your ISA following the transfer but if there was £10 in a GIA then I would have expected them to have kept that account open which would of course allowed you to open another ISA in future without the joining fee again assuming their systems would support that.

ChilliBob

Yeah, as people have stated above, I think their closing is a bit hasty, and perhaps against their own T&Cs. I'll have them on screen when I call again and see if I can get anywhere. Thanks for the comments chaps 

masonic

I have to say, I think it would be a bit mean of them to charge you another account opening fee after putting you in this position through closing a trading account containing a residual balance.

Thrugelmir

ChilliBob said:

Cheers. Hmm, you'd have thought they would send a warning first right?

How long ago was the account last active? 

ChilliBob

Well the isa transfer concluded in mid December. Since then I have logged in a couple of times, but nothing has happened to the GIA. 

masonic

ChilliBob said:

Well the isa transfer concluded in mid December. Since then I have logged in a couple of times, but nothing has happened to the GIA. 

The relevant metric would be when was the last activity in the trading account?

ChilliBob

That would be a long time ago, probably December 2020. However, iweb seem to define account as the collection of accounts under one individuals name, so that's my direction! 

ChilliBob

Well, iWeb are now claiming the GIA was empty which I know for a fact it wasn't - no muppet would place an investment of £10 for a cost of £5, not even me!  So, a closing statement is going to be sent, in two weeks time, and I can contest it in the meantime. Going to scour my bank account for cash being returned to me now!

ChilliBob

Update: iWeb *did* pay £10 into my bank account at the end of Jan - not at my request grr!

At this rate I'm not sure if I can be bothered - do I trust them anymore?!