Where to keep funds in short term

20122013

https://forums.moneysavingexpert.com/discussion/comment/81977964#Comment_81977964

Once the S&S ISA is sold down and the cash is in my account with its wrapper, if I move it to any of the options you have mentioned above will it still be in the ISA wrapper?

I am thinking of the 3.9%,Royal London as mentioned by @plumb1_2

is this the one :
Royal London Short Term Money Mkt Y Acc | GB00B8XYYQ86 ?? (ETF?)

I will stick with ii (even though no longer my first choice) to minimise the transfer time?

masonic

https://forums.moneysavingexpert.com/discussion/comment/81978017#Comment_81978017

Yes, buying and selling investments all happens within the ISA.

aroominyork

"is this the one : Royal London Short Term Money Mkt Y Acc GB00B8XYYQ86". Yes, that is the one.

An ETF is an exchange traded fund, which is a different type of asset. The main difference is ETFs (like CSH2 and QUID mentioned by masonic) can be traded any time during the day and the price can vary a little during the day, whereas funds like Royal London are traded once a day, usually at midday and you need to place the order with ii by 11am. If you want to develop a full understanding of the difference between ETFs and OEICs (the fancy term for the type which Royal London is) that is fine, but otherwise you might just want to stick with Royal London.

20122013

https://forums.moneysavingexpert.com/discussion/comment/81977964#Comment_81977964

Regarding the Vanguard's STMMF:

Is this the one? Sterling Short-Term Money Market Fund ACC (VASTMGA)

I cannot find it on ii though and if it is shorter does it matter if it is ACC or INC? as I normally choose ACC.

masonic

https://forums.moneysavingexpert.com/discussion/comment/81978100#Comment_81978100

Yes, that's it. It doesn't really matter whether you hold Acc or Inc, but if you don't need or want to deal with the income, then Acc would be simplest.

20122013

ii TRADING / TRANSACTIONS FEES on S&S ISA

Do the fees have to be deducted the S&S ISA account or can they deduct it from the GIA account?

eskbanker

https://forums.moneysavingexpert.com/discussion/comment/81978968#Comment_81978968

Transaction fees are applied to the transaction itself (if not covered by the monthly fee).

20122013

https://forums.moneysavingexpert.com/discussion/comment/81978976#Comment_81978976

Good point.

The ii monthly fee includes a free trade (but this was not the case for me) I am asking whether I can put cash in the GIA to cover the transactions fees for S&S ISA transactions? or does the fee have to be deducted from the S&S ISA or my cash ISA account ( as I am transacting wrapped funds so do I have to pay the fee with wrapped cash (I hope this makes sense)? as I think the GIA account is for unwrapped investment and S&S ISA cash account only holds CASH ISA?

eskbanker

The fee is included as part of the transaction, not something paid separately.

aroominyork

You cannot trade in ISA but have the fee taken from GIA. You can however have the monthly fee taken from GIA.

I have a £14.99 plan with £3.99 of monthly trading credits; each fund trade is £1.49. If I place an order to buy £10,000 of a fund (and have no credits) I will receive £9,998.51 worth of units. If I sell a fund to receive £10,000 ii will sell £10,001.49 worth of units.