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Interactive increases monthly charge

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stevensfo
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Re: Interactive increases monthly charge

#215362

Postby stevensfo » April 16th, 2019, 11:08 am

felixcanis wrote:
stevensfo wrote:It's not the custody fees that I find annoying, but rather the way that they're taken from the 'Cash' part of the ISA account and not the Trading Account.


That's not how Interactive do our accounts - the £22.50 is taken from the Trading account cash, not the ISA cash. I messaged them when the £22.50 charge was introduced and they confirmed the order they use to take the charges - firstly via a direct debit if set up via the account. If no direct debit is present they try to take from the trading account cash. If there are insufficient funds in that account, they will use ISA cash.

Interactive have not touched our ISA cash - unlike Youinvest AJBell who take their fees from the individual accounts. Last time I asked Youinvest had no plans to change this procedure.

FelixC


Thanks, Felix. It's a bit of a mystery then why they take the 22.50 from the ISA cash, but maybe it was a one-off glitch in the system and afterwards, I stopped adding to the Trading account, so they didn't have a choice. I'll add funds to the Trading account again and send them another email.

Steve

daveh
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Re: Interactive increases monthly charge

#215498

Postby daveh » April 16th, 2019, 7:28 pm

tjh290633 wrote:There are some brokers who take the management fees from your bank account direct, rather than from your ISA or trading account.

TJH

Interactive Investor for example - they take both my qtrly charges from my bank account by DD (I pay a Crest fee too).

Bouleversee
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Re: Interactive increases monthly charge

#215671

Postby Bouleversee » April 17th, 2019, 2:05 pm

I see I already have accumulated trading credits amounting to £85, not much money in the ISA, virtually none in the dealing account which contains no shares either and nothing in the ISA I want to sell at the moment. The p/f is showing an even larger overall loss than I had expected but then I realised that they were showing a 100% loss for Dairy Crest which is merging with Saputo,. already suspended from trading but not yet paid out the sum due of £5,381.60 which gives me a profit of £2381.80 not a loss of £2999.80 as shown. Pathetic! Only 2 of the other holdings are showing a profit, one being Scottish Mortgage IT and the other RDSB. I suppose I could split the cash between these and use up a bit of the dealing credits but it does look as though I am going to have to move as I will be paying fees which do not benefit me in terms of free deals.

bulltraderpt
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Re: Interactive increases monthly charge

#225829

Postby bulltraderpt » May 31st, 2019, 4:44 pm

I have to say, I am quite impressed with iii for these fee changes as an active trader they have reduced my fees.

Doesn't usually happen though....

maximan
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Re: Interactive increases monthly charge

#227071

Postby maximan » June 5th, 2019, 7:33 am

I have just received £7.50 in my bank account this morning from ii.
I assume this is 1 months refund on the old quarterly fee of £22.50 as the new fees kick in on the 10th June.
Didn't expect that.

Lootman
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Re: Interactive increases monthly charge

#227090

Postby Lootman » June 5th, 2019, 8:29 am

maximan wrote:I have just received £7.50 in my bank account this morning from ii. I assume this is 1 months refund on the old quarterly fee of £22.50 as the new fees kick in on the 10th June. Didn't expect that.

They did say they would refund any unused portion of the previous quarterly fee. In my case it was a £7.50 credit to my account.

As you note the new charge won't hit for a few more days, but the lower £7.99 commission rates are already in place and working.

maximan
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Re: Interactive increases monthly charge

#227104

Postby maximan » June 5th, 2019, 9:02 am

Lootman wrote:
maximan wrote:I have just received £7.50 in my bank account this morning from ii. I assume this is 1 months refund on the old quarterly fee of £22.50 as the new fees kick in on the 10th June. Didn't expect that.

They did say they would refund any unused portion of the previous quarterly fee. In my case it was a £7.50 credit to my account.

As you note the new charge won't hit for a few more days, but the lower £7.99 commission rates are already in place and working.


Thanks for that Lootman I must have missed the refund announcement.


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