Opening an iweb account for ISA

apollo9apollo9 Forumite
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I am thinking of transferring some of my ISA hold funds to iweb. I realise its £5 a trade but what I dont know is that are the dividends from my funds automatically invested or does it cost £5 each time?  All the funds are accumulations ones  - Fundsmith, Rathbones and HSBC world tracker

thanks

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  • dealyboydealyboy Forumite
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    ... automatically re-invested (acc type) ... iWeb is a good choice for a buy and forget investment and is my ISA platform for a few years now with HSBC Global Strategy Acc fund.
  • cloud_dogcloud_dog Forumite
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    apollo9 said:
    I am thinking of transferring some of my ISA hold funds to iweb. I realise its £5 a trade but what I dont know is that are the dividends from my funds automatically invested or does it cost £5 each time?  All the funds are accumulations ones  - Fundsmith, Rathbones and HSBC world tracker

    thanks
    iWeb do not offer auto-reinvestment as an option.
    Personal Responsibility - Sad but True :D

    Sometimes.... I am like a dog with a bone
  • edited 22 February at 7:51PM
    GeoffTFGeoffTF Forumite
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    edited 22 February at 7:51PM
    cloud_dog said:
    apollo9 said:
    I am thinking of transferring some of my ISA hold funds to iweb. I realise its £5 a trade but what I dont know is that are the dividends from my funds automatically invested or does it cost £5 each time?  All the funds are accumulations ones  - Fundsmith, Rathbones and HSBC world tracker

    thanks
    iWeb do not offer auto-reinvestment as an option.
    ...but if they are accumulation funds, the dividends are reinvested within the funds.
  • eskbankereskbanker Forumite
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    apollo9 said:
    I am thinking of transferring some of my ISA hold funds to iweb. I realise its £5 a trade but what I dont know is that are the dividends from my funds automatically invested or does it cost £5 each time?  All the funds are accumulations ones  - Fundsmith, Rathbones and HSBC world tracker
    If you hold accumulation units of your funds then dividends are reinvested automatically within the fund (and thereby reflected in correspondingly higher unit values), so there's nothing for the platform to do with them and therefore no further costs....
  • Sea_ShellSea_Shell Forumite
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    I'm currently in limbo with a Rathbone's fund transfer (see my recent posts)

    HSBC no problem.

    It should be possible, depending on exactly which fund and class, but it's proving.... complicated.
    How's it going, AKA, Nutwatch? - 12 month spends to date = 3.22% of current retirement "pot" (as at end Feb 2023)
  • apollo9apollo9 Forumite
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    Thanks. I may to keep two platforms (my current one is Fidelity). Also my Rathbones is fund class S or something and its not on the iweb list.

    Am I correct I can do a partial transfer?
  • Sea_ShellSea_Shell Forumite
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    I don't think you can.   It's an all or nothing, especially if within the same tax year ISA.

    They only give the option of transferring everything, or just previous tax years IIRC.

    Yes we have an "S" version of a Rathbones fund, and we're hoping (waiting) to see if they are converted to the "I" versions available on iWeb.    

    Rather than repeat myself here.  I'll update the other thread when I know more.
    How's it going, AKA, Nutwatch? - 12 month spends to date = 3.22% of current retirement "pot" (as at end Feb 2023)
  • GeoffTFGeoffTF Forumite
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    This is relevant:

    https://moneytothemasses.com/saving-for-your-future/investing/isa-transfers-explained-everything-need-know

    I have have made a partial dealing account transfer to iWeb. That required a covering letter.
  • edited 24 February at 11:32AM
    soulsaversoulsaver Forumite
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    edited 24 February at 11:32AM
    cloud_dog said:
    apollo9 said:
    I am thinking of transferring some of my ISA hold funds to iweb. I realise its £5 a trade but what I dont know is that are the dividends from my funds automatically invested or does it cost £5 each time?  All the funds are accumulations ones  - Fundsmith, Rathbones and HSBC world tracker

    thanks
    iWeb do not offer auto-reinvestment as an option.

    Eh?
    Under Dividend Options (on the r/h side):

    'Automatic Dividend Reinvestment' will enable dividends from UK and Irish CREST eligible stocks to be automatically reinvested into the source stock. Any remaining cash will be paid into your share dealing account. Please note a 2% commission (maximum £5) is payable on all dividend reinvestments.

    'Hold In Account' will retain the dividend in your share dealing account until you take further action.

    'Pay Away Immediately' will send collected dividend totals to your nominated bank account shortly after the dividend pay date.

    'Pay Away 6-Monthly' will send collected dividend totals to your nominated bank account every 6 months, usually at the end of April and October of each year.
  • london21london21 Forumite
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    You can choose the accumulation option if available that was what I did with my funds. 
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