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  • FIRST POST
    • rathernot
    • By rathernot 5th Apr 18, 6:21 PM
    • 335Posts
    • 85Thanks
    rathernot
    Regular Investing via Interactive Investor
    • #1
    • 5th Apr 18, 6:21 PM
    Regular Investing via Interactive Investor 5th Apr 18 at 6:21 PM
    I've an account with Interactive Investor that I'll be using for my 2018/19 ISA and a GIA.

    Is there anything I need to know about their regular investment option please?

    It looks simple enough, choose the funds you want and the amount and sit back and they'll take the money and make the investment for you.

    That easy?
Page 1
    • le loup
    • By le loup 5th Apr 18, 8:19 PM
    • 3,895 Posts
    • 3,927 Thanks
    le loup
    • #2
    • 5th Apr 18, 8:19 PM
    • #2
    • 5th Apr 18, 8:19 PM
    That easy?
    Originally posted by rathernot
    It would be if their service was any good.
    Do a search on "Interactive Investors" "ii" "iii" and you will see what I mean.
    Other platforms do monthly investment options.
    • Gizmo70
    • By Gizmo70 6th Apr 18, 7:19 AM
    • 61 Posts
    • 33 Thanks
    Gizmo70
    • #3
    • 6th Apr 18, 7:19 AM
    • #3
    • 6th Apr 18, 7:19 AM
    I've an account with Interactive Investor that I'll be using for my 2018/19 ISA and a GIA.

    Is there anything I need to know about their regular investment option please?

    It looks simple enough, choose the funds you want and the amount and sit back and they'll take the money and make the investment for you.

    That easy?
    Originally posted by rathernot
    Yes, it is that easy, I have been using that functionality for years and it has worked well for me.
    I've only ever had one issue and that was resolved reasonably quickly, with enough prompting from me, but other people have had more issues, as mentioned elsewhere.
    The cost is low and, from others' experience, the customer service can be intermittent,
    • greenglide
    • By greenglide 6th Apr 18, 11:21 AM
    • 3,217 Posts
    • 2,094 Thanks
    greenglide
    • #4
    • 6th Apr 18, 11:21 AM
    • #4
    • 6th Apr 18, 11:21 AM
    Other platforms do monthly investment options.
    Yes, they do!

    I use II (was TD originally), HL and Youinvest.

    II and Youinvest are great. You can separate the regular payment, change it whenever you want and you can set the amount to be collected to zero. The amount to be invested can be totally separate from the amount to be collected so that dividends received can be invested other than the investment they were paid but still use the low cost regular investment.

    HL dont do this so far as I can see. The amount collected is the same as the amount invested which can be held in cash.

    I find II fine - it is the TD platform which I was always happy with but the moving of existing accounts from the old II platform to the TD platform has clearly given them "issues"!

    I did Bed & ISAs in both HL and II this morning, it will be interesting to see how they both handle them! TD did it fine last year.
    • rathernot
    • By rathernot 6th Apr 18, 4:26 PM
    • 335 Posts
    • 85 Thanks
    rathernot
    • #5
    • 6th Apr 18, 4:26 PM
    • #5
    • 6th Apr 18, 4:26 PM
    Thank you all. I already have an II account and for the quantity of money and volume of purchases they appear a no-brainer option based on fees.

    I'm not very demanding so would hope there's not too much that can go wrong
    • capital0ne
    • By capital0ne 6th Apr 18, 6:48 PM
    • 573 Posts
    • 272 Thanks
    capital0ne
    • #6
    • 6th Apr 18, 6:48 PM
    • #6
    • 6th Apr 18, 6:48 PM
    I tried regular investing when II was TD, the only issue I had was they couldn't provide a dividend reinvestment option, but since it was regular investment divis just got used up on the regular investment date. So it's not really an issue.

    Anyway many years on I just do a lump sum investment on 6th April of £20k, and leave it - buy and hold is my strategy, and it's working nicely.

    I've moved i iWeb now, bit left my old portfolio with ii because reinvesting at a £1 a pop suits me, uses up the credit I accumulate each quarter .

    You'll find as your portfolio grows, start buying ever larger amounts of equities. It's pointless buying an equity if it only makes up a small %ge of your total portfolio, so inh my case I don't trade in any sums less than £10k.

    In a couple of years I guess I'll be using my entire ISA allowance on just a single equity.

    The main thing that reduces your returns is trading - don't do it unless you really have to.

    The next thing that will affect your long term returns is fees and charges, keep these as low as you can.

    It's boring not trading but that's the way it goes - boredom is good.
    • TBC15
    • By TBC15 6th Apr 18, 7:15 PM
    • 673 Posts
    • 335 Thanks
    TBC15
    • #7
    • 6th Apr 18, 7:15 PM
    • #7
    • 6th Apr 18, 7:15 PM
    Investing monthly with II, nice and cheap no problems.
    • grey gym sock
    • By grey gym sock 6th Apr 18, 9:09 PM
    • 4,444 Posts
    • 3,997 Thanks
    grey gym sock
    • #8
    • 6th Apr 18, 9:09 PM
    • #8
    • 6th Apr 18, 9:09 PM
    I did Bed & ISAs in both HL and II this morning, it will be interesting to see how they both handle them!
    Originally posted by greenglide
    ok, i'm a bit intrigued by this. i'm sure you know you can only subscribe new money to 1 S&S ISA in the same tax year. so how do you do 2 bed-and-ISAs, with different providers, in the same tax year?
    • bowlhead99
    • By bowlhead99 6th Apr 18, 9:27 PM
    • 8,313 Posts
    • 15,205 Thanks
    bowlhead99
    • #9
    • 6th Apr 18, 9:27 PM
    • #9
    • 6th Apr 18, 9:27 PM
    ok, i'm a bit intrigued by this. i'm sure you know you can only subscribe new money to 1 S&S ISA in the same tax year. so how do you do 2 bed-and-ISAs, with different providers, in the same tax year?
    Originally posted by grey gym sock
    You ensure you have free cash in at least one of the ISAs before you sell the unwrapped shares outside the ISAs and buy them back within those ISAs.

    For one of the ISAs, the funding can come from the cash proceeds of sale of the unwrapped shares, contributed as a subscription of new money within your 2018/19 allowance that you got today. For the other, as you can't put new money into it during 2018/19 due to feeding the first one instead, you will have to already have the funding available inside the ISA (perhaps by putting cash into the LISA earlier this week to use up some of your 2017/18 ISA allowance, or perhaps sitting around from other disposals).

    Bed and ISA is just the term for disposing of shares and - around the same time - buying the same type of shares inside an ISA wrapper where they would not get matched to the disposals for CGT because the tax man can't see those purchases. It doesn't necessarily mean the proceeds of the share sales get subscribed into the ISAs involved; you might already have plans for the money outside the ISA and be making the purchases with spare ISA cash. Such as proceeds from maturing cash ISAs, or just idle previously-unspent cash that has been sitting around in the S&S ISA wrapper ready to buy these particular shares once you have sold your unwrapped holding of them.
    • grey gym sock
    • By grey gym sock 6th Apr 18, 10:24 PM
    • 4,444 Posts
    • 3,997 Thanks
    grey gym sock
    yes, i could think of various scenarios in which it's possible to do 2 bed-and-ISAs. i was more wondering what situation greenglide has that makes it them want to do it.
    • capital0ne
    • By capital0ne 6th Apr 18, 11:09 PM
    • 573 Posts
    • 272 Thanks
    capital0ne
    yes, i could think of various scenarios in which it's possible to do 2 bed-and-ISAs. i was more wondering what situation greenglide has that makes it them want to do it.
    Originally posted by grey gym sock
    Husband and wife
    • greenglide
    • By greenglide 7th Apr 18, 2:24 PM
    • 3,217 Posts
    • 2,094 Thanks
    greenglide
    Husband and wife
    Exactly.

    I did two bed & ISAs for us, one each.

    HL did the sell and the buy back yesterday, I haven't heard from II yet. They "may" have done the transactions - I haven't logged in since, I haven't had an email.
    • rathernot
    • By rathernot 8th Apr 18, 4:09 PM
    • 335 Posts
    • 85 Thanks
    rathernot
    Would anyone who uses II know what kind of things they send email notifications around please?

    For example I've just setup a regular investment and made a cash payment into my account and I haven't received an email confirming/notifying me of either.

    I'm not clear if it's supposed to email me or not.
    • grey gym sock
    • By grey gym sock 9th Apr 18, 2:00 AM
    • 4,444 Posts
    • 3,997 Thanks
    grey gym sock
    Would anyone who uses II know what kind of things they send email notifications around please?

    For example I've just setup a regular investment and made a cash payment into my account and I haven't received an email confirming/notifying me of either.

    I'm not clear if it's supposed to email me or not.
    Originally posted by rathernot
    i don't think i've had emails for setting up regular investmens or adding cash. i would expect an email after each trade has been carried out (whether it's a regular investment or not).
    • rathernot
    • By rathernot 20th Apr 18, 5:37 PM
    • 335 Posts
    • 85 Thanks
    rathernot
    Had a very strange thing happen with II.

    I put in a bunch of trades, seven total, to clear out some old OEICs a few days ago.

    Yesterday they showed the orders as "pending" and today the funds still show in the trading account and the orders list shows empty for six of the OEICs yet one of them has been sold.

    I called them and they don't have any record at all of the sell orders it's literally as if they were never made according to the chap I spoke with.
    • jaybeetoo
    • By jaybeetoo 16th May 18, 9:02 AM
    • 713 Posts
    • 349 Thanks
    jaybeetoo
    I opened an account with ii in April. Set up a regular monthly payment into an ISA. First payment should have been taken 12th May. Nothing taken even though the direct debit is set up at my bank. Phoned ii - long time on the call and long time on hold. Basically they haven!!!8217;t a clue. If they can!!!8217;t take a simple direct debit then do I want to trust them with my money?

    They may be cheap but that is no good to me if they are also incompetent.
    • greenglide
    • By greenglide 16th May 18, 10:04 AM
    • 3,217 Posts
    • 2,094 Thanks
    greenglide
    So the amount is showing in the regular investments as "£xxx is paid monthly" in big print?

    And the payment date underneath was 12 May but has now changed to 12th June?

    It is possible to set up a regular investment which doesn't collect money from the direct debit and, conversely, you can collect money from the direct debit but not invest it - I do both!

    My account currently shows the payment as 12th June (which is right - the money has been collected) but the Investment date is currently 20th June which is odd as the money hasn't been invested yet - seem odd.

    The platform is what used to be TD and it does generally work fine.
    • jaybeetoo
    • By jaybeetoo 16th May 18, 2:14 PM
    • 713 Posts
    • 349 Thanks
    jaybeetoo
    It was showing as the first payment this month and they didn!!!8217;t take it. I phoned them and the guy on the help desk seemed to be making it up as he went along. He first told me there were some problems. Then he said the DD hadn!!!8217;t been set up (it had - I checked with my bank). Then he said the instruction had been changed and I!!!8217;d missed the cut off (I haven!!!8217;t changed it since I set it up at the start of April).

    Maybe I was unlucky with the person I spoke to. I am not at all happy. I!!!8217;m trusting these guys with my money. If the help desk spin me yarns that does not give me any confidence.

    Just had a call with ii again. What I was told this morning was wrong - the DD problems were at their end. My confidence in ii is rock bottom. They shouldn!!!8217;t make stuff up - if the person on the help desk doesn!!!8217;t know then he should find out and not guess.

    Should I avoid ii or are they worth one more try?
    Last edited by jaybeetoo; 16-05-2018 at 2:53 PM.
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