ii Dividend Payaway for income funds?

Umiamz

According to ii's website, Dividend Payaway works with UK shares that deal in sterling. Does anybody know if it works with income funds that pay dividends or interest?

Thanks in advance...

Linton

If you mean ii paying dividends/interest directly into the linked bank account, it works for both dividends and interest and both funds and shares.  I make heavy use of it.

Where is it mentioned on the website?  ii seem to keep the facility secret and as far as I know you can only get it if you talk to them.

Umiamz

It's here in their Help Centre:

https://www.ii.co.uk/help/trading/useful-information/dividend-payaway

"Only UK shares which pay dividends in sterling are eligible.

Any international or non-sterling dividends will be paid into your ii account. You can withdraw these dividends manually by withdrawing cash from your account."

Umiamz

I've now moved my ISA and GIA to ii and invested in some income funds. I've also set up Dividend Payaway for both ISA and Trading accounts. A couple of questions for any other ii users:

I can't find any information on ii about dividend payment and ex-dividend dates for funds. The information is there for shares (via the Morningstar link) but not for funds. Am I missing something or is the information just not available via ii?

How long does it take for ii to pay the dividends? I was used to the dividends appearing in my HL account on the actual payment date but I've seen nothing yet from a fund that paid on the 15th Jan (and it's now the 18th). I have Dividend Payaway set up so does this mean they will go straight to my bank account without appearing as cash in my ii account first?

Thanks in advance for any information!

Linton

Umiamz said:

I've now moved my ISA and GIA to ii and invested in some income funds. I've also set up Dividend Payaway for both ISA and Trading accounts. A couple of questions for any other ii users:

I can't find any information on ii about dividend payment and ex-dividend dates for funds. The information is there for shares (via the Morningstar link) but not for funds. Am I missing something or is the information just not available via ii?

How long does it take for ii to pay the dividends? I was used to the dividends appearing in my HL account on the actual payment date but I've seen nothing yet from a fund that paid on the 15th Jan (and it's now the 18th). I have Dividend Payaway set up so does this mean they will go straight to my bank account without appearing as cash in my ii account first?

Thanks in advance for any information!

I cant help on whether ii show fund dividend dates but the information is available on Trustnet.  Just Google "<fund name> trustnet.com" and click on "dividends".

The dividends appear on your ii transactions statement when expected and are transferred out the same day as a second transaction.  However they then take around 3 days to appear in your bank account depending on weekends and bank holidays.

Umiamz

Linton said:

Umiamz said:

I've now moved my ISA and GIA to ii and invested in some income funds. I've also set up Dividend Payaway for both ISA and Trading accounts. A couple of questions for any other ii users:

I can't find any information on ii about dividend payment and ex-dividend dates for funds. The information is there for shares (via the Morningstar link) but not for funds. Am I missing something or is the information just not available via ii?

How long does it take for ii to pay the dividends? I was used to the dividends appearing in my HL account on the actual payment date but I've seen nothing yet from a fund that paid on the 15th Jan (and it's now the 18th). I have Dividend Payaway set up so does this mean they will go straight to my bank account without appearing as cash in my ii account first?

Thanks in advance for any information!

I cant help on whether ii show fund dividend dates but the information is available on Trustnet.  Just Google "<fund name> trustnet.com" and click on "dividends".

The dividends appear on your ii transactions statement when expected and are transferred out the same day as a second transaction.  However they then take around 3 days to appear in your bank account depending on weekends and bank holidays.

Thanks - that's very useful. I can see from Trustnet that I'm not actually entitled to the 15th January dividend because I bought the fund after the 1st December 2022 ex-dividend date. The HL website shows 1st January as the ex-dividend date but is obviously incorrect.