X-O (Jarvis) online platform to close in the summer

jimjames

refluxer said:

wmb194 said:

becky_rtw said:

We have gilts in an ISA. We use Jarvis as they have only transaction fees. The gilts are not massive buys  but we intended to hold them to maturity. Of course we can sell, but likely to lose money. 

This is worrying as capital gains will be eroded by monthly fees. I hope there's a exit option. Definitely not a good deal for customers. 

Stockbrokers come and go. Look at an in specie transfer to iWeb. It offers gilts, £5 per trade and no ongoing account fess. iWeb's a trading name of Halifax Share Dealing and is ultimately owned by Lloyds Bank.

https://www.iweb-sharedealing.co.uk/

I guess the question is how long will it be before iWeb introduce monthly charges too ?

Unlikely in my view. They've been running the current model for many years unlike these newcomers

boingy

refluxer said: 

I guess the question is how long will it be before iWeb introduce monthly charges too ?

None of us can possibly know but it's not worth worrying about something that might never happen. If it does happen we'll get some notice and be able to transfer elsewhere if we want.

wmb194

refluxer said:

wmb194 said:

becky_rtw said:

We have gilts in an ISA. We use Jarvis as they have only transaction fees. The gilts are not massive buys  but we intended to hold them to maturity. Of course we can sell, but likely to lose money. 

This is worrying as capital gains will be eroded by monthly fees. I hope there's a exit option. Definitely not a good deal for customers. 

Stockbrokers come and go. Look at an in specie transfer to iWeb. It offers gilts, £5 per trade and no ongoing account fess. iWeb's a trading name of Halifax Share Dealing and is ultimately owned by Lloyds Bank.

https://www.iweb-sharedealing.co.uk/

The irony there is that I actually used to be with Halifax's Share Dealing service and only moved to X-O when Halifax introduced monthly charges. iWeb wasn't an option at the time due to their £100 joining fee. 

I guess the question is how long will it be before iWeb introduce monthly charges too ?

iWeb is Halifax Share Dealing’s budget brand to hoover up the people who’d never use its other, more expensive brands . It also has Halifax, Lloyds and BoS offerings all with slightly different pricing and offerings e.g., iWeb doesn’t have the discounted regular savings option.

OrangeBlueGreen

Hi everyone

I notice that the FAQ sent out only states about waiving fees in the "Accounts Remaining with Jarvis" section. Hopefully this will also apply to customers that are forced to move. I have emailed them to find out more. 

I have no interest in moving to II.

OrangeBlueGreen

Just received an email back saying it's business as usual and we do not need to take any action (yet). It also states that they have waived transfer costs but not dealing fees.

cing0

Problem with iWeb is lack of support for complex instrument (ie short and leveraged) so would be interested in a annual management fee free alternative.

Notepad_Phil

OrangeBlueGreen said:

Just received an email back saying it's business as usual and we do not need to take any action (yet). It also states that they have waived transfer costs but not dealing fees.

I've emailed them too, but heard nothing yet so good of you to come back and let us know.

That's fair enough to keep dealing fees going.

I assume the transfer costs have been stopped as of immediately now, not will be stopped sometime in the future?

pafpcg

Anyone know of a low-cost on-line broker that allows joint accounts?  IWEB only offers single-name accounts.

My partner & I have had a joint investment account for 20+ years (alongside our considerably larger S&S ISAs at IWEB) to simplify matters when there's only one of us.  The only activity is the withdrawal of dividend income and the annual sale of a slice of our holding in SMT, just enough to stay within the annual CGT allowance, otherwise I'd convert the whole lot back to certificates!

OrangeBlueGreen

Notepad_Phil said:

OrangeBlueGreen said:

Just received an email back saying it's business as usual and we do not need to take any action (yet). It also states that they have waived transfer costs but not dealing fees.

I've emailed them too, but heard nothing yet so good of you to come back and let us know.

That's fair enough to keep dealing fees going.

I assume the transfer costs have been stopped as of immediately now, not will be stopped sometime in the future?

Haha we think the same! I emailed them back immediately asking if it's already in place or not.

OrangeBlueGreen

Notepad_Phil said:

OrangeBlueGreen said:

Just received an email back saying it's business as usual and we do not need to take any action (yet). It also states that they have waived transfer costs but not dealing fees.

I've emailed them too, but heard nothing yet so good of you to come back and let us know.

That's fair enough to keep dealing fees going.

I assume the transfer costs have been stopped as of immediately now, not will be stopped sometime in the future?

They've just come back saying that yes, the waiving of transfer fees is already in place. (I had specifically asked about initiating transfer away today).