Iweb Opening Fee Waived Until June 2024

Sorry if this was already posted. I just noticed they have extended the offer...

"Open a new account with IWeb between 1 September 2023 and 30 June 2024 and you’ll pay no account opening charge, that’s a saving of £100"

https://www.iweb-sharedealing.co.uk/
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  • Swipe
    Swipe Posts: 5,000
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    Can you open an account without funding it?
  • masonic
    masonic Posts: 22,835
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    Swipe said:
    Can you open an account without funding it?
    If you were considering doing this, it would be safer to open a trading account and make a small investment, as they may eventually close an unused account. If you later go on to open an ISA, then you wouldn't pay a fee for the additional account.
  • ColdIron
    ColdIron Posts: 8,653
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    Swipe said:
    Can you open an account without funding it?
    All the offer T&Cs say is that it must be activated to avoid the £100 opening fee, nothing about funding
    • Accounts that are opened and activated before the offer end date will not be charged the usual £100 Account Opening Charge. By ‘activated’ we mean that all documentation must have been returned to us and the account set up online and ready to trade.
  • Qyburn
    Qyburn Posts: 2,073
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    Swipe said:
    Can you open an account without funding it?
    That's actually why I was looking. I want to transfer my ISA early next year and was looking to see if i could open the account just now before the deal expired. It didn't look like you could as they say you need a debit card to hand when applying. 
  • masonic
    masonic Posts: 22,835
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    Qyburn said:
    Swipe said:
    Can you open an account without funding it?
    That's actually why I was looking. I want to transfer my ISA early next year and was looking to see if i could open the account just now before the deal expired. It didn't look like you could as they say you need a debit card to hand when applying. 
    They use your debit card to set up your linked account, so an immediate deposit is not required (and wouldn't be possible if, for example, you were just transferring in a maxed out current year ISA).
  • boingy
    boingy Posts: 1,144
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    I opened a general trading account and stuck a tenner in it. I'll most likely be opening an S&S ISA with them next April. The £100 fee (currently waived) only applies to the first account. 
  • Swipe
    Swipe Posts: 5,000
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    boingy said:
    I opened a general trading account and stuck a tenner in it. I'll most likely be opening an S&S ISA with them next April. The £100 fee (currently waived) only applies to the first account. 
    Did you have to send them any documents or was it all done electronically in the background?
  • boingy
    boingy Posts: 1,144
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    Swipe said:
    boingy said:
    I opened a general trading account and stuck a tenner in it. I'll most likely be opening an S&S ISA with them next April. The £100 fee (currently waived) only applies to the first account. 
    Did you have to send them any documents or was it all done electronically in the background?
    The latter. It couldn't have been more painless. A good first impression.  :)
  • Albermarle
    Albermarle Posts: 21,077
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    A waiving of a £100 fee pales in comparison to some of the cashback deals on offer for bigger ISA's anyway. HL one in particular is rather generous.
  • GeoffTF
    GeoffTF Posts: 1,331
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    I saw a post where someone said that they had an iWeb account with just some cash in it, and iWeb returned the money and closed the account. It would be safer to buy some stock.
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