iWeb Offering £100 Cashback (Negating the £100 Account Opening Fee)

ColdIron

Futuristic said:

Can someone let me know if I can add money to GIA/ISA via debit card on iWeb or only bank transfer?

AFAIK debit card is the only way to do it

cloud_dog

paul235 said:

cloud_dog said:

paul235 said:

Is it possible to transfer shares held with Equiniti to iWeb directly into a 22/23 S&S ISA or just to hold with iWeb.  Is it also possible to transfer a 22/23 cash ISA  to iWeb?

Is the Equinity account a GIA or ISA account?

Corporate Sponsored Nominee account

The only way to be able to transfer holdings from a non-ISA account in o an ISA is if the holdings came from a HMRC authorised savings scheme (e.g. SAYE) and you are still within 3 months of taking control of the investments (I'd need to double check the time period to be 100%), otherwise the only was to get investments in to a ISA is to sell, transfer the cash, and re-buy.  You would be able to do this under a 'bed n ISA' process if you held the investments with iWeb, and which should only incur one transaction fee.

expansion

expansion said:

I have opened a new LISA with AJ Bell and put in the max 4k. I already have an ISA with AJ Bell but I have not put in any money yet this tax year so I have 16k allowance still. Should I open the iweb ISA, transfer the AJ Bell and then put in up to 16k? If I put in the 16k in the existing AJ Bell ISA will it break ISA rules?

Nobody knows?

Alistair31

expansion said:

expansion said:

I have opened a new LISA with AJ Bell and put in the max 4k. I already have an ISA with AJ Bell but I have not put in any money yet this tax year so I have 16k allowance still. Should I open the iweb ISA, transfer the AJ Bell and then put in up to 16k? If I put in the 16k in the existing AJ Bell ISA will it break ISA rules?

Nobody knows?

Your post is a bit confusing but you can’t transfer a zero balance. You can either put the 16k in AJBell and then transfer to iweb OR you can just open an iweb ISA and commit the 16k there instead, so long as you have not/do not contribute to AJBell before or after in this FY. 

badger09

expansion said:

I have opened a new LISA with AJ Bell and put in the max 4k. I already have an ISA with AJ Bell but I have not put in any money yet this tax year so I have 16k allowance still. Should I open the iweb ISA, transfer the AJ Bell and then put in up to 16k? If I put in the 16k in the existing AJ Bell ISA will it break ISA rules?

Not sure what you’re asking but here goes….

You have paid £4k into a new LISA with AJ Bell during this tax year. 

You have an existing S&S ISA which contains only previous tax years’ subscriptions. 

You want to open an S&S ISA with IWeb and pay in £16k

No problem with doing that, no ISA rules broken. 

I’m not sure whether you actually want to transfer your existing S&S ISA from AJ Bell to IWeb 
or whether you think you have to
You don’t have to, but you can if you want to. 

If you do want to transfer it, it’s probably easier to open the S&S ISA with IWeb, pay in your £16k & then ask them to arrange the transfer. 

What you can’t do is pay into both S&S ISAs during the rest of this tax year. 

Perhaps if you say what you’re trying to achieve, I can help. 

expansion

Alistair31 said:

expansion said:

expansion said:

I have opened a new LISA with AJ Bell and put in the max 4k. I already have an ISA with AJ Bell but I have not put in any money yet this tax year so I have 16k allowance still. Should I open the iweb ISA, transfer the AJ Bell and then put in up to 16k? If I put in the 16k in the existing AJ Bell ISA will it break ISA rules?

Nobody knows?

Your post is a bit confusing but you can’t transfer a zero balance. You can either put the 16k in AJBell and then transfer to iweb OR you can just open an iweb ISA and commit the 16k there instead, so long as you have not/do not contribute to AJBell before or after in this FY. 

If I open an iweb account with zero balance can I still contribute this year's 16k to AJ Bell and then transfer it to iweb?

expansion

badger09 said:

expansion said:

I have opened a new LISA with AJ Bell and put in the max 4k. I already have an ISA with AJ Bell but I have not put in any money yet this tax year so I have 16k allowance still. Should I open the iweb ISA, transfer the AJ Bell and then put in up to 16k? If I put in the 16k in the existing AJ Bell ISA will it break ISA rules?

Not sure what you’re asking but here goes….

You have paid £4k into a new LISA with AJ Bell during this tax year. 

You have an existing S&S ISA which contains only previous tax years’ subscriptions. 

You want to open an S&S ISA with IWeb and pay in £16k

No problem with doing that, no ISA rules broken. 

I’m not sure whether you actually want to transfer your existing S&S ISA from AJ Bell to IWeb 
or whether you think you have to
You don’t have to, but you can if you want to. 

If you do want to transfer it, it’s probably easier to open the S&S ISA with IWeb, pay in your £16k & then ask them to arrange the transfer. 

What you can’t do is pay into both S&S ISAs during the rest of this tax year. 

Perhaps if you say what you’re trying to achieve, I can help. 

I want to transfer. I know I don't have to.

I understand I can't add to both and easiest to add to new iweb account but not the cheapest because of iweb's foreign rates.

Can I open a new iweb with zero balance and still contribute this year's 16k to the old AJ Bell and then transfer in specie to iweb? iweb's terms say 5k must be transferred or deposited within 6 months giving 2 months in 2022-23 to add from next year's allowance. This would work unless iweb force me to deposit on opening the account or would close it because of zero balance for more than 4 months.

AlwaysLearnin

The iWeb cashback offer looks to be for an appropriate switch in to accounts opened by 31/12/23, so you could presumably just wait until you're ready.

dllive

ChesterDog said:

The trading fee is £5.

No ongoing charges at all.

We are fully invested and only tweak holdings (only six in total) only once a year.

To put that in perspective, it will cost us around £30 per year for over £1m invested.

Interactive Investor was costing £30 per month, plus the trading charges.

Are you not concerned about having more on one platform than the FSCS investor compensation £85k limit?

I will soon be in a similar situation, and not sure whether I should be concerned or not. I suspect not, but if I should be then I will look to spread the risk across multiple platforms.

ChesterDog

We have isas on iWeb, but ETF Simpson on HL.

Eidt: Simpson... ha ha. Missed that one. Sipps.