Iweb

Matt_22

Does anyone use this as a stocks and shares ISA platform. I have 200k in stocks and share so the holding charges of 0.25 or 0.35 add up. I am thinking of transferring to iweb as it has no holding charges.

wmb194

Matt_22 said:

Does anyone use this as a stocks and shares ISA platform. I have 200k in stocks and share so the holding charges of 0.25 or 0.35 add up. I am thinking of transferring to iweb as it has no holding charges.

Yes. It charges no account fees. £5 per trade, though. It's ultimately part of Lloyds Banking Group so I don't worry too much about the amounts I keep with it. 

On the downside it can be a bit slow to credit dividends and interest and pay them out to your nominated account - it uses Bacs rather than Faster Payments. Also its website UI is a bit 1999 but it works.

ChesterDog

Yes.

But do you have a question about it?

[Deleted User]

Hi,

I recently did an in specie Dealing and S&S Isa transfer from Interactive Investor, no problems and all done in about a week.

You can sign up for free HERE, usually £100.

Here's a recent THREAD.

sausage_time

Matt_22 said:

Does anyone use this as a stocks and shares ISA platform. I have 200k in stocks and share so the holding charges of 0.25 or 0.35 add up. I am thinking of transferring to iweb as it has no holding charges.

I do, and it works well for me.

DiamondLil

I've been with IWeb for 4-5 years and very happy with them. An in specie transfer a year or so ago took around a week. They are quick to reply to messages too.

Aminatidi

I do.

I transferred to them from HL some time back for similar reasons to you.

The transfer took a week (I'd sold the investments so it was sat as "cash" on HL).

As above the website has a 1990's feel to it but it's functional and seems to do the job.

I did call them as the website wasn't quite as informative about the status of the transfer as I'd have liked and they answered the phone very quickly and were very helpful.

I'm now considering transferring my Vanguard ISA to them too.

ColdIron

Matt_22 said:

I am thinking of transferring to iweb as it has no holding charges.

Make sure that they have the funds/shares that you have (or acceptable alternatives) before you pull the trigger

You should be fine with most mainstream products but some platforms offer discounted classes of open ended funds that IWeb may not offer

If you don't it can complicate and delay the transfer process

Edit: IWeb have no custody charges for ISAs or GIAs but they do charge for SIPPs

SlimPlodder

Reading the iWeb literature I had the understanding that they treat ETFs as funds, and levy annual holding charges on them. Is my understanding correct?

Matt_22

ColdIron said:

Matt_22 said:

I am thinking of transferring to iweb as it has no holding charges.

Make sure that they have the funds/shares that you have (or acceptable alternatives) before you pull the trigger

You should be fine with most mainstream products but some platforms offer discounted classes of open ended funds that IWeb may not offer

If you don't it can complicate and delay the transfer process

Edit: IWeb have no custody charges for ISAs or GIAs but they do charge for SIPPs

Thanks I will need to check the fund charges from the funds them self are similar to what the funds are charging through other my current providers. As I think these can vary?

masonic

SlimPlodder said:

Reading the iWeb literature I had the understanding that they treat ETFs as funds, and levy annual holding charges on them. Is my understanding correct?

Incorrect on three counts. 1) they do not treat ETFs as funds (they are found together with other shares when trading), (2) they do not levy annual holding charges on them, and (3) they do not levy annual holding charges on funds held within S&S ISAs.