Custody Fee...?!?!

[Guest Neil2048]

Hi All

I think that i will be hit with the custody fee in a few days as i don't trade much and haven't traded in the last three months, i will in the near future be moving my shares out to another provider, but how can i fund my account with the fee, as the minimum transfer amount seems to be £250, I clearly don't want to credit my account with £250 just to pay the £24 custody fee, while I arrange to transfer my shares out, How can i pay this with out them selling my shares or transferring an ridiculous amount?

Thanks

[JamesIG]

Hi @Neil2048 - there are a couple of options with this one.

1. give us a call and we'll take the payment over the phone - this shouldn't take more than a couple minutes.
2. fund the minimum amount via card (250), and then withdraw the free balance (250-24) back to the same card immediately. 

Bit of a work around I do appreciate, but it should work. thanks. 

[Caseynotes]

Hi @Neil2048, I did a quick search and there is no info on what will happen when account goes 'overdrawn', I would have expected many tales of woe on google but there are none. Best bet is to call the help desk before the due date, maybe the min deposit doesn't apply in such cases?

https://www.ig.com/uk/investments/share-dealing/costs-fees