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  • Smed
    Smed Posts: 40 Forumite
    masonic wrote: »
    It is not a flat fee. It is £1 per month, plus 0.45% per year. The 0.45% itself is a very high fee, so slapping £12 per year on top makes it a rip off.

    So what you are saying is that the £1 per month flat fee is not a flat fee because there are other fees. That's incredible reasoning to say the least. We might equally say that my gym membership is not £12 per month flat fee because I also have to pay instructor's fees. What it actually comes down to is a flat fee for the use of the equipment. But I really don't expect you to understand that.

    I say again that you don't understand "flat fee"

    I don't know what you base your conclusion of Moneybox on. I suspect it's yet more tripe.
  • masonic
    masonic Posts: 23,062
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    edited 17 April 2017 at 8:57AM
    Smed wrote: »
    So what you are saying is that the £1 per month flat fee is not a flat fee because there are other fees. That's incredible reasoning to say the least. We might equally say that my gym membership is not £12 per month flat fee because I also have to pay instructor's fees. What it actually comes down to is a flat fee for the use of the equipment. But I really don't expect you to understand that.

    I say again that you don't understand "flat fee"

    I don't know what you base your conclusion of Moneybox on. I suspect it's yet more tripe.
    What I am saying is it is not a flat fee if there is a percentage element to the fee structure. It is you that doesn't understand "flat fee" if you think 0.45% fee with a monthly subscription of £1 is a flat fee.

    If 0.45% + £1 per month is flat fee in your description, how about the 0.45% + £0 per month charged at HL? I suppose you'd call that free.

    Presumably, in your gym analogy, the instructor is optional. Any gym that has non-optional fees that depend on the amount you use it cannot describe itself as flat fee. In the same way, any platoform that has fees that depend on the amount you have invested cannot describe itself as flat fee. But I don't expect you to understand that.

    I base my conclusion about the Moneybox app on the product itself, which I agree could be described as tripe, but I prefer to describe it as a rip off.
  • Smed
    Smed Posts: 40 Forumite
    masonic wrote: »
    What I am saying is it is not a flat fee if there is a percentage element to the fee structure. It is you that doesn't understand "flat fee" if you think 0.45% fee with a monthly subscription of £1 is a flat fee.

    If 0.45% + £1 per month is flat fee in your description, how about the 0.45% + £0 per month charged at HL? I suppose you'd call that free.

    Presumably, in your gym analogy, the instructor is optional. Any gym that has non-optional fees that depend on the amount you use it cannot describe itself as flat fee. In the same way, any platoform that has fees that depend on the amount you have invested cannot describe itself as flat fee. But I don't expect you to understand that.

    I base my conclusion about the Moneybox app on the product itself, which I agree could be described as tripe, but I prefer to describe it as a rip off.

    You are posting tripe. You cannot say that something is expensive or inexpensive or cheap without a comparison with something similar. In fact you can do that but then you will get people like me saying you are posting tripe which you are doing.

    In the Moneybox app there are different parts to the fee structure. One of them is a £1 per month flat fee. Perhaps you can understand that but I suspect not and you will just reply with yet more tripe.
  • masonic
    masonic Posts: 23,062
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    Smed wrote: »
    You are posting tripe. You cannot say that something is expensive or inexpensive or cheap without a comparison with something similar. In fact you can do that but then you will get people like me saying you are posting tripe which you are doing.
    I have made a comparison to something similar (HL), which itself is considered expensive when compared to other similar services (CSD, etc).
    In the Moneybox app there are different parts to the fee structure. One of them is a £1 per month flat fee. Perhaps you can understand that but I suspect not and you will just reply with yet more tripe.
    So now it's a partly flat fee structure. :rotfl:
  • eskbanker
    eskbanker Posts: 30,393
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    The usual debate about investment charges is the point at which flat fees are more cost-effective than percentage-based fees (as seen at comparison sites like http://monevator.com/compare-uk-cheapest-online-brokers/) - I rather suspect that OP's view is that a product that has both a flat fee and a percentage fee must therefore be superior! :rotfl:
  • Smed
    Smed Posts: 40 Forumite
    masonic wrote: »
    I have made a comparison to something similar (HL), which itself is considered expensive when compared to other similar services (CSD, etc).


    So now it's a partly flat fee structure. :rotfl:

    I expected tripe and I'm not disappointed. You might just as well compare a potato and a carrot because they are both root vegetables or a bicycle and a motorbike because they both have two wheels. LOL
  • masonic
    masonic Posts: 23,062
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    Smed wrote: »
    I expected tripe and I'm not disappointed. You might just as well compare a potato and a carrot because they are both root vegetables or a bicycle and a motorbike because they both have two wheels. LOL
    Yes, I realise that it looks a little silly comparing something like the Moneybox app to investment platforms for grown ups.
  • Smed
    Smed Posts: 40 Forumite
    masonic wrote: »
    Yes, I realise that it looks a little silly comparing something like the Moneybox app to investment platforms for grown ups.

    Tripe is what I get for attempting to discuss something with someone who doesn't know the first thing about the subject. Maybe you can work out your dole money better,
  • Smed
    Smed Posts: 40 Forumite
    eskbanker wrote: »
    The usual debate about investment charges is the point at which flat fees are more cost-effective than percentage-based fees (as seen at comparison sites like http://monevator.com/compare-uk-cheapest-online-brokers/) - I rather suspect that OP's view is that a product that has both a flat fee and a percentage fee must therefore be superior! :rotfl:

    Along similar lines, maybe I should stop paying £1.87p for my coffee and go to Waitrose, buy a plastic bag for 5p and get my coffee for free. The only problem is that Waitrose coffee is awful. There's a moral in there but I don't expect you'll be able to see it.

    btw do you have "banker" in your username because it lends authority to your posts and do people actually think you're really a banker? LOL
  • Apodemus
    Apodemus Posts: 3,384
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    Smed wrote: »
    btw do you have "banker" in your username because it lends authority to your posts and do people actually think you're really a banker? LOL

    Funny, I had always assumed that he/she came from Eskbank! :)
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