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Custody Charges


Richy1

Question

Hi There,

 

If I hold, say £2000 in stocks, and £14,000 cash across my Trading and ISA accounts, then will I be charged the quarterly fees? i.e. when the notes say "You must hold £15k in assets" in the accounts, does this include cash deposited? Or does it exclude cash deposits, please? (so actually meaning you must hold a total of more than£15k in equities / EFT's, rather than assets - note that cash is really an asset)

Thanks for any clarification.

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43 minutes ago, Richy1 said:

Hi There,

 

If I hold, say £2000 in stocks, and £14,000 cash across my Trading and ISA accounts, then will I be charged the quarterly fees? i.e. when the notes say "You must hold £15k in assets" in the accounts, does this include cash deposited? Or does it exclude cash deposits, please? (so actually meaning you must hold a total of more than£15k in equities / EFT's, rather than assets - note that cash is really an asset)

Thanks for any clarification.

The waiver based on a holding of £15,000 or more is only applicable to IG Smart Portfolio investments - shares/funds in a normal share/self managed ISA account do not count towards the total. In this case the only way to avoid the custody fee is to make the minimum number of trades per quarter (3).

Edited by Fletch
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On 05/07/2020 at 17:38, Fletch said:

The waiver based on a holding of £15,000 or more is only applicable to IG Smart Portfolio investments - shares/funds in a normal share/self managed ISA account do not count towards the total. In this case the only way to avoid the custody fee is to make the minimum number of trades per quarter (3).

Hi, is the custody fee per account e.g. if I have an ISA and a trading account, will I be charged £24 per quarter for both accounts or £24 per account per quarter? If I make 3 trades in my ISA account per quarter, will the custody fee be waived if I make no trades at all in my regular trading account?

Thanks in advance,

Mark

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On 11/07/2020 at 11:53, skinman1401 said:

Hi, is the custody fee per account e.g. if I have an ISA and a trading account, will I be charged £24 per quarter for both accounts or £24 per account per quarter? If I make 3 trades in my ISA account per quarter, will the custody fee be waived if I make no trades at all in my regular trading account?

Thanks in advance,

Mark

No, I as far as I am aware both accounts are aggregated, so there is only one quarterly charge (but don't quote me on that). 

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