S&S ISA for regular investing

Stargunner

I am looking to open a S&S ISA in April that I want to invest my 20k allowance over 12 months by making regular monthly contributions.
Therefore, I am looking for a platform that offers free regular investing. It would also be a benefit, although not essential if it could be operated via its banking app.

HSBC and Barclays charge an annual fee of 0.25%, Halifax £36 and Lloyds £40  All these offer free regular investing and seem quite a reasonable cost for the service, 
I just wanted to ask fellow members if any of you have  any experience and opinions of any of them, or have any other recommendations.

wmb194

Stargunner said:

I am looking to open a S&S ISA in April that I want to invest my 20k allowance over 12 months by making regular monthly contributions.
Therefore, I am looking for a platform that offers free regular investing. It would also be a benefit, although not essential if it could be operated via its banking app.

HSBC and Barclays charge an annual fee of 0.25%, Halifax £36 and Lloyds £40  All these offer free regular investing and seem quite a reasonable cost for the service, 
I just wanted to ask fellow members if any of you have  any experience and opinions of any of them, or have any other recommendations.

What are you planning to invest in? If you really want cheap then Trading212 would be an option but it doesn't offer OEICs/unit trusts. For the coming 24/25 tax year it has a 1% Isa cashback offer. In addition to web browser it also has an app.

https://www.trading212.com/isa

Stargunner

wmb194 said:

Stargunner said:

I am looking to open a S&S ISA in April that I want to invest my 20k allowance over 12 months by making regular monthly contributions.
Therefore, I am looking for a platform that offers free regular investing. It would also be a benefit, although not essential if it could be operated via its banking app.

HSBC and Barclays charge an annual fee of 0.25%, Halifax £36 and Lloyds £40  All these offer free regular investing and seem quite a reasonable cost for the service, 
I just wanted to ask fellow members if any of you have  any experience and opinions of any of them, or have any other recommendations.

What are you planning to invest in? If you really want cheap then Trading212 would be an option but it doesn't offer OEICs/unit trusts. For the coming 24/25 tax year it has a 1% Isa cashback offer. In addition to web browser it also has an app.

https://www.trading212.com/isa

I have already ruled them out as I want to invest in OEICs. Also ruled out Iweb as they don't offer free regular investing. 

I am surprised how competitive the big banks are, as I always thought that they were expensive.

InvesterJones

Vanguard is 0.15% fee, which on your 20k works out to £30. (Or £15 if you're starting from 0 and regularly investing up to 20k).

wmb194

Stargunner said:

wmb194 said:

Stargunner said:

I am looking to open a S&S ISA in April that I want to invest my 20k allowance over 12 months by making regular monthly contributions.
Therefore, I am looking for a platform that offers free regular investing. It would also be a benefit, although not essential if it could be operated via its banking app.

HSBC and Barclays charge an annual fee of 0.25%, Halifax £36 and Lloyds £40  All these offer free regular investing and seem quite a reasonable cost for the service, 
I just wanted to ask fellow members if any of you have  any experience and opinions of any of them, or have any other recommendations.

What are you planning to invest in? If you really want cheap then Trading212 would be an option but it doesn't offer OEICs/unit trusts. For the coming 24/25 tax year it has a 1% Isa cashback offer. In addition to web browser it also has an app.

https://www.trading212.com/isa

I have already ruled them out as I want to invest in OEICs. Also ruled out Iweb as they don't offer free regular investing. 

I am surprised how competitive the big banks are, as I always thought that they were expensive.

Well, the OEICs requirement narrows things down a bit! In recent years the big banks have improved their offerings in response to the far cheaper newcomers.

I would use HSBC to make regular investments and then periodically (partially) transfer them to iWeb.

friolento

Will this help you? https://monevator.com/compare-uk-cheapest-online-brokers/

Stargunner

friolento said:

Will this help you? https://monevator.com/compare-uk-cheapest-online-brokers/

Thank you, that is very useful.

Kaizen917

I was thinking of opening a similar thread actually so thanks for doing the favour for people like myself.

Im currently with holdings between Vanguard and InvestEngine where I have no major complaints but feel like adding another basket instead of pilling too much within any provider. T212 is competitive, no doubt but seems a bit odd that I could be checking best ISA lists on comparisson sites and they + other cheap platforms may not even get included?!?

I didnt realize banks arent too far off as I normally used to see them as having weird charge structures but 0.25 is practically AJ Bell level. I could be wrong but I feel that platform + fund fee combined coming to under 0.35-0.40% is bearable and the idea of having things within the same banking app seems quite appealing.

wmb194

Kaizen917 said:

I was thinking of opening a similar thread actually so thanks for doing the favour for people like myself.

Im currently with holdings between Vanguard and InvestEngine where I have no major complaints but feel like adding another basket instead of pilling too much within any provider. T212 is competitive, no doubt but seems a bit odd that I could be checking best ISA lists on comparisson sites and they + other cheap platforms may not even get included?!?

I didnt realize banks arent too far off as I normally used to see them as having weird charge structures but 0.25 is practically AJ Bell level. I could be wrong but I feel that platform + fund fee combined coming to under 0.35-0.40% is bearable and the idea of having things within the same banking app seems quite appealing.

You cannot assume that they're unbiased; the comparison sites often only include the companies that pay them. 

I only opened an HSBC GIA for a cashback offer but I am minded to keep it. Compared to iWeb and many other brokers, it's quite a novel experience to actually receive and be able to withdraw or reinvest dividends first thing in the morning on the day they're actually due. You can view your portfolio and withdraw money in the app but to place orders you have to use internet banking via a browser.

I also recommend T212 but it doesn't offer OEICs. (It also reliably credits dividends on the due date but usually in the afternoon.)

Stargunner

As you will be able to make partial transfers from next tax year, I am thinking of opening one with HSBC or Barclays to allow me to do the free regular investing, and then once the balance reaches around 10K I should be able to do a partial transfer to my Iweb ISA and then rinse and repeat.