Vanguard: New Minimum Monthly Account charge

gt94sss2

Update: Vanguard have delayed the minimum account fee and other terms changes. They will now apply from 28 February 2025.

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Vanguard are introducing a new monthly minimum charge of £4 per customer from the 31/01/25

equitydealer

Funny, for a company that used to champion lower fees they are going in the wrong direction  

QrizB

Link here:

https://www.vanguardinvestor.co.uk/what-we-offer/fees-explained/changes

Disappointing.

Alistair31

I was paying them more than that anyway but quite disappointing from VG. 

Incidentally, I’m in the process of transferring my entire ISA from VG to iWeb, who I note have recently dropped their account opening charge on a permanent basis. 

HedgehogRulez

That's quite annoying. I currently build up my S&S isa with vanguard throughout the year and then transfer over the balance to iWeb in April to minimise fees. May need to revise my approach....

Albermarle

Fidelity do something similar with a minimum charge of £90 pa, although if you are set up for regular investing, I think they do not apply it.

In general it is normal in business to charge smaller customers more.

Aylesbury_Duck

HedgehogRulez said:

That's quite annoying. I currently build up my S&S isa with vanguard throughout the year and then transfer over the balance to iWeb in April to minimise fees. May need to revise my approach....

same here.  Time to get the calculator out!

zagfles

QrizB said:

Link here:

https://www.vanguardinvestor.co.uk/what-we-offer/fees-explained/changes

Disappointing.

At least it seems they're aggregating account balances so eg £10k in a SIPP and £30k in an ISA will pay the same as now as total >£32k

zagfles

Aylesbury_Duck said:

HedgehogRulez said:

That's quite annoying. I currently build up my S&S isa with vanguard throughout the year and then transfer over the balance to iWeb in April to minimise fees. May need to revise my approach....

same here.  Time to get the calculator out!

Probably why they're doing it!

booneruk

Looks like I timed my SIPP move from Vanguard to Freetrade (where I'm already a plus member, so no additional SIPP charge from them) nicely. I'll be getting 1% cashback too.

Kniphofia7

I got the email too.  Time to look into something else for my small SIPP balance.  I'll want to access it in a couple of years anyway.