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MyDeposits charging annual membership fees
MyDeposit is going to start annual membership fees for insured deposits. It seems to say that it will apply to old deposits as well as new ones? If so, it doesn't seem fair as you are stuck with an old one and can't move to another provider.
Is there an alternative that only charges per deposit (PAYG)?
Comments
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do you really make a profit from the interest on an insured deposit?
why not just stick with custodial schemes that are free to use?0 -
do you think i can ask them to move the deposit into the custodial one? it is now in the insured backed one.
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If it is in insured scheme then you must hold the deposit. So just put it in one of the custodial schemes before any additional fee becomes due.
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