ISA shares with EQi

System

This discussion was created from comments split from: MSE News: Martin Lewis suggests alternative to cutting cash ISA limit – a 'starter investment ISA'.

TradeQuery

My family had ISA shares for some years with EQi. Watched a share price for a long time and today share price raised to a point I wanted to sell. Turned out that in June EQi transferred the ISA shares customers to Interactive Investor (II). I contacted II this afternoon who first checked and then confirmed customer account details but after that then told me their system has broken; they are trying to fix it, but can't sell shares until they have fixed their system(s) again, and so I should try phoning them tomorrow to see if I can sell shares then....

I really don't feel safe having a company that's telling me they can't sell my shares once they are at the price I want to sell it at :-(     

masonic

TradeQuery said:

My family had ISA shares for some years with EQi. Watched a share price for a long time and today share price raised to a point I wanted to sell. Turned out that in June EQi transferred the ISA shares customers to Interactive Investor (II). I contacted II this afternoon who first checked and then confirmed customer account details but after that then told me their system has broken; they are trying to fix it, but can't sell shares until they have fixed their system(s) again, and so I should try phoning them tomorrow to see if I can sell shares then....

I really don't feel safe having a company that's telling me they can't sell my shares once they are at the price I want to sell it at :-(     

You'd probably be better starting your own thread concerning this. Others with an account may be able to comment on the situation.

The usual thing to do is make a note of the share price at the point you wanted to sell. If, as a result of a failure at II, you achieve a lower price at the point you are actually able to sell, then claim compensation for the difference.

MSE_ForumTeam5

@TradeQuery - we've split this into its own thread

eskbanker

TradeQuery said:

Turned out that in June EQi transferred the ISA shares customers to Interactive Investor (II).

This was in June 2021 (except LISAs)!  You should have been kept informed of the process throughout, were your contact details up to date?

jimjames

TradeQuery said:

My family had ISA shares for some years with EQi. Watched a share price for a long time and today share price raised to a point I wanted to sell. 

I really don't feel safe having a company that's telling me they can't sell my shares once they are at the price I want to sell it at :-(     

How were you watching the share price? It doesn't appear that you were logging into your account regularly so it's a bit hard to blame the broker when you've not been checking. The company isn't saying you can't sell at all. I'm with II too and not got any issues accessing my account so it might be something to do with the transfer.