Dividend payout options

george4064

My Mum’s ISA is currently with HL and am considering alternatives after the recent fee changes.

It’s fully invested in listed securities (shares, ETFs and ITs) and she enjoys the dividends from those which are automatically paid to her bank account.

I wanted to check people’s experience with II and Scottish Widows around if it’s possible for dividends to be paid out automatically and how well they work in practice?

Many thanks in advance.

poseidon1

Unlike HL, who hold dividends and payout on a set date per month, ii payout as soon as dividends received (I have accounts with both platforms).

Clearly of the two, ii's practice is preferable.

InvesterJones

george4064 said:

My Mum’s ISA is currently with HL and am considering alternatives after the recent fee changes.

It’s fully invested in listed securities (shares, ETFs and ITs) and she enjoys the dividends from those which are automatically paid to her bank account.

I wanted to check people’s experience with II and Scottish Widows around if it’s possible for dividends to be paid out automatically and how well they work in practice?

Many thanks in advance.

Yes, Scottish Widows automatic pay out happens fine and quickly (certainly compared to HL)

DRS1

Of course with SWSD and by the sound of it ii she is going to be getting the dividends in dribs and drabs rather than having a lump of money hit her account on a regular basis once a month which is what she would be used to with HL.  That change may take a bit of getting used to.

Linton

DRS1 said:

Of course with SWSD and by the sound of it ii she is going to be getting the dividends in dribs and drabs rather than having a lump of money hit her account on a regular basis once a month which is what she would be used to with HL.  That change may take a bit of getting used to.

Dividends are usually paid monthly, 3-monthly or biannually at the end of the month.  If you hold a range of investments (which is a good idea anyway)  you can get a fairly constant income with ii. 

Enzo_L

https://forums.moneysavingexpert.com/discussion/comment/81856017#Comment_81856017

SWSD/IWeb either retain dividends in your account or pay them out as they are issued. You choose which for each account you have.

I have dividends paid out as they're issued for my GIA and retained for my ISA.

george4064

Also, what is tbe login process for both ii and Scottish Widows? Like mandatory 2 factor authentication, SMS code etc..

InvesterJones

https://forums.moneysavingexpert.com/discussion/comment/81856353#Comment_81856353

SW can be as simple as a website log in (with memorable question). Or you can use the app.

poseidon1

https://forums.moneysavingexpert.com/discussion/comment/81856367#Comment_81856367

ii also have a quick and easy to access app using biometrics together with the usual bog standard Web access.

I use the app ( on my tablet) 99% of the time.

DRS1

https://forums.moneysavingexpert.com/discussion/comment/81856342#Comment_81856342

I am not sure what has happened but I wanted to highlight the last sentence in this post and say I had set up my Iweb GIA and iSA in the same way.

The point I was making originally was that with HL the dividends get piled up at HL and then she would get say £1k on the 14th of the month in a nice regular format. But with Iweb (sorry SWSD) she will get £10 here £100 there and not all on the same day. Yes she may get it sooner and yes it may be very regular but some people like their income to arrive in one lump once a month.

aroominyork

https://forums.moneysavingexpert.com/discussion/comment/81855637#Comment_81855637

For ii, does that mean always on the advertised distribution date?