Confused about Vanguards "costs & minimums" stocks & shares ISA.

SneakySpectator
SneakySpectator Posts: 200 Forumite
100 Posts Name Dropper
edited 3 April at 3:04PM in ISAs & tax-free savings
I currently have an S&S ISA with T212 and I'm very happy with it. But I want to open a S&S ISA with vanguard also. I selected "cash" because I don't want to actually invest in any fund just yet. Then on the next section it says I need to invest either £500 in 1 go, or £100 monthly. 

So just to open the account I have to do one of these 2, which is ok. But my question is if I select monthly and then pay in £100. Do I have to do this every month going forward to keep the ISA open, or can I just do it once and then leave it?

Thank you.

Comments

  • vacheron
    vacheron Posts: 2,066 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Not sure what happens if you set up the monthly and then stop, but another thing to consider if you are starting a Vanguard ISA from scratch is that their newly introdiced minimum fee structure will equate to quite a significant annual percentage for small and slowly accumulating ISAs.
    • The rich buy assets.
    • The poor only have expenses.
    • The middle class buy liabilities they think are assets.
    Robert T. Kiyosaki
  • SneakySpectator
    SneakySpectator Posts: 200 Forumite
    100 Posts Name Dropper
    vacheron said:
    Not sure what happens if you set up the monthly and then stop, but another thing to consider if you are starting a Vanguard ISA from scratch is that their newly introdiced minimum fee structure will equate to quite a significant annual percentage for small and slowly accumulating ISAs.
    I didn't think they charged any fees for simply having a S&S ISA with them when your funds are just sitting in cash.
  • vacheron
    vacheron Posts: 2,066 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    edited 3 April at 9:40AM
    Their S&S ISA now has a £4 monthly account fee for any investment under £32,000.

    So if you managed to place your single £100 payment and didn't add any more for a year, they will take £48 (48%) in fees!  :s

    https://savingtool.co.uk/blog/vanguards-new-minimum-fee-what-it-means-for-uk-investors/

    • The rich buy assets.
    • The poor only have expenses.
    • The middle class buy liabilities they think are assets.
    Robert T. Kiyosaki
  • SneakySpectator
    SneakySpectator Posts: 200 Forumite
    100 Posts Name Dropper
    vacheron said:
    Their S&S ISA now has a £4 monthly account fee for any investment under £32,000.

    So if you managed to place your single £100 payment and didn't add any more for a year, they will take £48 (48%) in fees!  :s

    https://savingtool.co.uk/blog/vanguards-new-minimum-fee-what-it-means-for-uk-investors/

    Jesus Christ I think I'll stick with Trading212 then. Thanks for the heads up.
  • vacheron
    vacheron Posts: 2,066 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    edited 3 April at 10:26AM
    vacheron said:
    Their S&S ISA now has a £4 monthly account fee for any investment under £32,000.

    So if you managed to place your single £100 payment and didn't add any more for a year, they will take £48 (48%) in fees!  :s

    https://savingtool.co.uk/blog/vanguards-new-minimum-fee-what-it-means-for-uk-investors/

    Jesus Christ I think I'll stick with Trading212 then. Thanks for the heads up.
    No problem.

    That's also the reason why I'm now moving my son's "university fund" ISA from Vanguard (where I have happily held it for the last 5 years) to Trading 212!  :)
    • The rich buy assets.
    • The poor only have expenses.
    • The middle class buy liabilities they think are assets.
    Robert T. Kiyosaki
  • R_P_W
    R_P_W Posts: 1,509 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    vacheron said:
    vacheron said:
    Their S&S ISA now has a £4 monthly account fee for any investment under £32,000.

    So if you managed to place your single £100 payment and didn't add any more for a year, they will take £48 (48%) in fees!  :s

    https://savingtool.co.uk/blog/vanguards-new-minimum-fee-what-it-means-for-uk-investors/

    Jesus Christ I think I'll stick with Trading212 then. Thanks for the heads up.
    No problem.

    That's also the reason why I'm now moving my son's "university fund" ISA from Vanguard (where I have happily held it for the last 5 years) to Trading 212!  :)
    I think lots of us are doing the same.  I've been happy enough with Vanguard, but actually I questioned why would I stay with them to have limited investment options and higher fees.  Sometimes higher fees on Vanguard ETFs that are cheaper elsewhere.

    My concern is that it can take a few weeks to transfer and with the volatility in the markets in the first part of the year is that I sell out 'low' in one position and then buy back in 'higher'.  I can't do a straight transfer as I have the FTSE Global All Cap with VG and that isn't available on T212.
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