Curiosity: why go with (example...) H/Lansdown, St James' Place?

wmb194

GeoffTF said:

george4064 said:

However, the iWeb login process does seem a bit lax compared to AJ Bell. Does anyone know if there is a way to add 2 factor authentication (2FA) to the login process?

Welcome any thoughts or people’s experience with iWeb’s security (I’m aware their website is very basic and stripped back).

No, there is no 2FA. You get emails whenever a transaction is made, and withdrawals can only be made to your nominated account. I have not had any security issues in over ten years. iWeb's website is fine. I am sure that Lloyds would demand security improvements if HSDL was having problems.

And there’s another process to change your nominated account that IIRC takes a week or so to sort out (a code in the post? I forget).

masonic

george4064 said:

I’m currently with AJ Bell (ISA, LISA and SIPP), all in ETFs and ITs, and would consider moving to another platform for lower fees.
However, the iWeb login process does seem a bit lax compared to AJ Bell. Does anyone know if there is a way to add 2 factor authentication (2FA) to the login process?
Welcome any thoughts or people’s experience with iWeb’s security (I’m aware their website is very basic and stripped back).

I'm fairly relaxed about SCA for accounts where money cannot be transferred out to a third party account, although I'm rather surprised iWeb's setup is compliant with FCA regulations. The main risk would be around changes to personal details and the linked account. I don't know what process they go through in that regard. That said, if iWeb had voluntary 2FA, then I would enable it.

alibean121

B0bbyEwing said:

I'll take a look there.

Maybe I can't move my LISA along but I have about £6k in a S&S ISA which if that's the difference then I'll be looking at moving it.
Will need to see whether they offer the same investments or whether they're quite limited.

HL are competitive for LISA - I determined overall they were likely to be best for me. There's a reduced fee of 0.25% and with their zero charges for trading, it makes the offer highly competitive. The fixed fee and low cost providers don't do LISA and, given the pest it can be to transfer them with many providers declining to take transfers, no harm in having an established name you're confident will still exist when you're 60.

george4064

masonic said:

george4064 said:

I’m currently with AJ Bell (ISA, LISA and SIPP), all in ETFs and ITs, and would consider moving to another platform for lower fees.
However, the iWeb login process does seem a bit lax compared to AJ Bell. Does anyone know if there is a way to add 2 factor authentication (2FA) to the login process?
Welcome any thoughts or people’s experience with iWeb’s security (I’m aware their website is very basic and stripped back).

I'm fairly relaxed about SCA for accounts where money cannot be transferred out to a third party account, although I'm rather surprised iWeb's setup is compliant with FCA regulations. The main risk would be around changes to personal details and the linked account. I don't know what process they go through in that regard. That said, if iWeb had voluntary 2FA, then I would enable it.

I had a bad experience with a certain bank regarding security and any changes to the account needed to be made via telephone with security being passed by confirming certain information.

Ive had a play around iWeb and it seems to change personal details such as phone number, email and nominated bank account it requires you to phone iWeb. I wonder what security steps are required when you phone them and if their staff are sufficiently trained to uphold proper internal controls to stop customers’ accounts being accessed and controlled by other people?

So far, that potential security risk is too much for me and is holding me back from transferring any investments to iWeb.

masonic

george4064 said:

Ive had a play around iWeb and it seems to change personal details such as phone number, email and nominated bank account it requires you to phone iWeb. I wonder what security steps are required when you phone them and if their staff are sufficiently trained to uphold proper internal controls to stop customers’ accounts being accessed and controlled by other people?

Here's what they have to say about changing address and nominated account from their public website ( https://www.iweb-sharedealing.co.uk/help-and-guidance/existing-customer.html ):

Presumably the delay to the change of address is to give enough time for a letter to be received warning of the upcoming change alongside the email. Debit card and bank account need to be in the name of the account holder. Email address and phone number can also be updated online. Here is the list of personal information that can be changed online via account management:

I don't see anything directing customers to change these details by phone, or even that it is possible to do so. I suspect it is possible for a customer services agent to complete these forms on behalf of the customer after clearing security (which in my experience requires more info to than logging in online), but I doubt that would bypass confirmation being sent to the old details, and the wait time for an address change. Suspect the same is true of other online savings & investment providers.

Where did you see that you must make these changes via phone?

UncleK

As I said, this thread has made me take a hard look at fees. Lots of little numbers per month across the family add up to £1500 in fees over a year with H&L. That's essentially for holding funds, which going forward, is mainly what we plan to do. Now we've bought the funds, it's time to jump ship to iWeb.

george4064

masonic said:

george4064 said:

Ive had a play around iWeb and it seems to change personal details such as phone number, email and nominated bank account it requires you to phone iWeb. I wonder what security steps are required when you phone them and if their staff are sufficiently trained to uphold proper internal controls to stop customers’ accounts being accessed and controlled by other people?

Here's what they have to say about changing address and nominated account from their public website ( https://www.iweb-sharedealing.co.uk/help-and-guidance/existing-customer.html ):

Presumably the delay to the change of address is to give enough time for a letter to be received warning of the upcoming change alongside the email. Debit card and bank account need to be in the name of the account holder. Email address and phone number can also be updated online. Here is the list of personal information that can be changed online via account management:

I don't see anything directing customers to change these details by phone, or even that it is possible to do so. I suspect it is possible for a customer services agent to complete these forms on behalf of the customer after clearing security (which in my experience requires more info to than logging in online), but I doubt that would bypass confirmation being sent to the old details, and the wait time for an address change. Suspect the same is true of other online savings & investment providers.

Where did you see that you must make these changes via phone?

I tried to change my nominated bank details online as a test, after entering new bank details and clicking ‘Update’ it takes me to a new page asking me to call them.

Maybe its just because my account is still relatively new, or maybe it’s because they all have to be changed over the phone?

badger09

 I’ve been with IWeb for years & moved house in Feb 21. Just checked my notes. Changed home phone number online but had to phone to change my address.

masonic

george4064 said:

masonic said:

george4064 said:

Ive had a play around iWeb and it seems to change personal details such as phone number, email and nominated bank account it requires you to phone iWeb. I wonder what security steps are required when you phone them and if their staff are sufficiently trained to uphold proper internal controls to stop customers’ accounts being accessed and controlled by other people?

Here's what they have to say about changing address and nominated account from their public website ( https://www.iweb-sharedealing.co.uk/help-and-guidance/existing-customer.html ):

Presumably the delay to the change of address is to give enough time for a letter to be received warning of the upcoming change alongside the email. Debit card and bank account need to be in the name of the account holder. Email address and phone number can also be updated online. Here is the list of personal information that can be changed online via account management:

I don't see anything directing customers to change these details by phone, or even that it is possible to do so. I suspect it is possible for a customer services agent to complete these forms on behalf of the customer after clearing security (which in my experience requires more info to than logging in online), but I doubt that would bypass confirmation being sent to the old details, and the wait time for an address change. Suspect the same is true of other online savings & investment providers.

Where did you see that you must make these changes via phone?

I tried to change my nominated bank details online as a test, after entering new bank details and clicking ‘Update’ it takes me to a new page asking me to call them.

Maybe its just because my account is still relatively new, or maybe it’s because they all have to be changed over the phone?

This is just idle speculation, but they might not have been able to match the account name to your name electronically, or perhaps they always require customers to phone them before processing the request as an additional layer of security. Could equally be that you were just randomly selected for some further probing.

TBC15

Cus said:

I use AJ Bell for my ISA's and JISA's, and the app is great, no issues with selection, and don't really care that I could possibly save a few quid moving, can't be bothered tbh

Edit: I'm probably on the wrong forum lol

Hello is that SJP

Yes do you have a finder’s fee if so I think I have someone for you.