A J Bell or Interactive Investor

coyrls

It looks like AJ bell charge 0.5% for automatic currency conversion of dividends (https://www.ajbell.co.uk/our-services/international-dealing) and II 1.5% for manual currency conversion (https://www.ii.co.uk/investing-with-ii/international-investing/foreign-exchange)

LHW99

coyrls said:

It looks like AJ bell charge 0.5% for automatic currency conversion of dividends (https://www.ajbell.co.uk/our-services/international-dealing) and II 1.5% for manual currency conversion (https://www.ii.co.uk/investing-with-ii/international-investing/foreign-exchange)

It does mean with II you don't have to convert unless you are happy at the rate offered. I assume if you go with automatic conversion at AJB you get whatever the rate is on the conversion day, low or high.

coyrls

LHW99 said:

coyrls said:

It looks like AJ bell charge 0.5% for automatic currency conversion of dividends (https://www.ajbell.co.uk/our-services/international-dealing) and II 1.5% for manual currency conversion (https://www.ii.co.uk/investing-with-ii/international-investing/foreign-exchange)

It does mean with II you don't have to convert unless you are happy at the rate offered. I assume if you go with automatic conversion at AJB you get whatever the rate is on the conversion day, low or high.

Yes, that's right.  If you're going to purchase again with the same currency ii's multi-currency approach is much better, as there is no currency conversion but with AJ Bell there will be two conversions to and from GBP.  None of this applies to ISAs because you a can only hold GBP cash in ISAs.

cloud_dog

segovia said:

cloud_dog said:

segovia said:

Some of the other reasons I was edging towards A J BELL is 1, when I make a company or personal contribution the deposits clear much quicker than II. 2, I have the same HSBC Global ETF which is listed in £; however, II pays dividends in $ which I have to transfer which take 2 days before I can invest it. A J BELL pays Dividends in £ immediately. I did query it will II but never got a straight answer from them

Interestingly, I am trying to figure out if I prefer the II way of managing foreign currency (divis) or not.

Without knowing how A J Bell does the calculation it's hard to compare, because II is in $ I can't auto invest divs 

You choose to switch it in to GBP when you wish, immediately or allow it to accumulate.  Not sure it is a particularly useful feature for people who don't receive largish non-GBP currency.

LHW99

cloud_dog said:

segovia said:

cloud_dog said:

segovia said:

Some of the other reasons I was edging towards A J BELL is 1, when I make a company or personal contribution the deposits clear much quicker than II. 2, I have the same HSBC Global ETF which is listed in £; however, II pays dividends in $ which I have to transfer which take 2 days before I can invest it. A J BELL pays Dividends in £ immediately. I did query it will II but never got a straight answer from them

Interestingly, I am trying to figure out if I prefer the II way of managing foreign currency (divis) or not.

Without knowing how A J Bell does the calculation it's hard to compare, because II is in $ I can't auto invest divs 

You choose to switch it in to GBP when you wish, immediately or allow it to accumulate.  Not sure it is a particularly useful feature for people who don't receive largish non-GBP currency.

The only time I found it useful was when one of the UK shares the OH had was bought out by a US co, which paid dividends for a bit, then bought out all the shareholders of the original co, with everything paid in $. We waited for a couple of months as the conversion rate was poor, and switched it back to £ when the rate had recovered somewhat.

Pat38493

One thing I noted with II which I was not aware of until recently is to watch out for the £40 charge if you do a transaction with a value above £100K.  I have never done this up to now so I don't know if their interface warns you that your charge will be a lot higher than normal.  A bit of a strange one because you can then just do two or more transactions to avoid it!