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

Hattie627

boingy said:

miller said:

Good to know, they could have saved themselves some time by including that in the FAQ initially. The closure fee could be avoided before being waived by just leaving it open with a nil balance, but stops any migration to Interactive Investor taking place by closing it of course.

Imagine how annoyed you'd be if you left an empty account that ended up at ii being charged 4 or 5 quid per month...

I moved my ISA account from X-O early last year but still had (until today) an empty GIA account (a small shareholding held in there was sold in August last year and the cash withdrawn). I emailed Jarvis earlier today (using the enquiry email address) asking them to close the empty GIA to prevent it being migrated to ii. I received confirmation within the hour that this had been done. 

marvin

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 ?

Ditto 

Left Halifx due to fees now back with them via Iweb. Transfer already in process for Both ISA and dealing accounts. Only 4 shares in the lot (one is held twice ISA and Dealing accounts) so 5 holdings.

Sort of solves a problem for me did not realise could not hold foreign shares or trusts in it and have been invesgating a few recently. The Halifx, IWeb, does.

There are also ones like Etoro if you fancy potentially larger spreads.

sjw1

Is there any specific reason to go to iWeb instead of Trading212?

After submitting the in-specie transfer request do you still need to close the Jarvis account yourself?

I assume that iWeb need a DD agreement to charge the monthly fee - not just card details Jarvis used for cash payments etc.?

I already have a Trading212 Cash ISA so having the shares there may be a little simpler.

wmb194

sjw1 said:

Is there any specific reason to go to iWeb instead of Trading212?

After submitting the in-specie transfer request do you still need to close the Jarvis account yourself?

I assume that iWeb need a DD agreement to charge the monthly fee - not just card details Jarvis used for cash payments etc.?

I already have a Trading212 Cash ISA so having the shares there may be a little simpler.

iWeb doesn’t charge a monthly fee.

You could transfer in specie to any broker, just make sure it offers the securities you want to transfer or else they’ll be sold and the proceeds transferred as cash instead.

DRS1

sjw1 said:

I assume that iWeb need a DD agreement to charge the monthly fee - not just card details Jarvis used for cash payments etc.?

What monthly fee?

As far as I am aware a debit card is all you need with Iweb.

sjw1

Thanks - Trading212 doesn't charge a monthly fee either does it?

And to make sure I understand your last point, I should check with the 'new' broker to ensure they accept/deal the shares as otherwise they'll be sold and transferred as cash without notification or agreement from me, yes?

sjw1

DRS1 said:

sjw1 said:

I assume that iWeb need a DD agreement to charge the monthly fee - not just card details Jarvis used for cash payments etc.?

What monthly fee?

As far as I am aware a debit card is all you need with Iweb.

Apologies, I meant ii - the company Jarvis will move the investments to.

DRS1

sjw1 said:

Thanks - Trading212 doesn't charge a monthly fee either does it?

And to make sure I understand your last point, I should check with the 'new' broker to ensure they accept/deal the shares as otherwise they'll be sold and transferred as cash without notification or agreement from me, yes?

I don't think Trading212 charges anything - how they make money is a mystery to me.

All I was saying on the last point was that as far as I know you don't need a DD for Iweb.  You can contribute new money to their ISA or GIA using a debit card.

For transfers it would be wise to see if they offer the things you are already invested in.  When I transferred from HL to Iweb years ago everything went over without being sold.  Some funds I transferred from L&G did get switched from an old version to some new version but that was all done after the transfer.

DRS1

sjw1 said:

DRS1 said:

sjw1 said:

I assume that iWeb need a DD agreement to charge the monthly fee - not just card details Jarvis used for cash payments etc.?

What monthly fee?

As far as I am aware a debit card is all you need with Iweb.

Apologies, I meant ii - the company Jarvis will move the investments to.

Ahh.  Sorry

wmb194

sjw1 said:

Thanks - Trading212 doesn't charge a monthly fee either does it?

And to make sure I understand your last point, I should check with the 'new' broker to ensure they accept/deal the shares as otherwise they'll be sold and transferred as cash without notification or agreement from me, yes?

Don’t know, does it charge a fee?

Yes… T212 doesn’t offer OEICs/unit trusts for instance.