UK RCI Stockholders new ii charges

[Lyn Mc]

Anyone else from the UK had any information on the new charges on your interactive investor account which holds your RCI shares?

 

Seems that we are to pay £20 per quarter for them to 'hold' our shares for us. Also gives you a couple of 'free' trades within the £20 but I just want to keep my RCI shares, I don't want to trade. If ii are charging £80 per year, this will impact on any OBC we get for being a shareholder. Anyone any ideas on how else to keep shares without paying £80 per year?

 

Thanks

Lyn

[isdoo]

use a different stock broker - or do not hold them in an investor account

[The_Big_M]

"use a different stock broker" - agreed

[Project_gal]

"use a different stock broker" - agreed

 

It is not easy in the UK to find a way of holding the shares primarily because of the different trading systems in the UK and US especially if you do not have much of a portfolio. It took us ages to find a "stock broker" who would trade and hold the shares for us and then the "hidden" charges are high.

 

If it is not against the Cruise Critic rules, it would be useful for people to be able to post the names of cheap UK "stock brokers" here.

 

Sue

[Lyn Mc]

Thanks for the support Sue,

 

I hate the 'very cleve'r one liners who don't give you any help whatsoever. Of course I need to look for a stockbroker but as you say it is not very easy when all you want to do is hold a very small amount of stock without incredible charges. I was hoping that Phil was around (excited of harpenden) but he may well be off enjoying one of his wel deserved cruises, he usually helps out in these situations, in fact I think but I could be wrong that he did use ii at one time, and he is most helpful and never glib!!

 

Hopefully we may be abe to get some help from others in the same situation.

 

Al the best

Lyn

[Project_gal]

Thanks for the support Sue,

 

I hate the 'very cleve'r one liners who don't give you any help whatsoever. Of course I need to look for a stockbroker but as you say it is not very easy when all you want to do is hold a very small amount of stock without incredible charges. I was hoping that Phil was around (excited of harpenden) but he may well be off enjoying one of his wel deserved cruises, he usually helps out in these situations, in fact I think but I could be wrong that he did use ii at one time, and he is most helpful and never glib!!

 

Hopefully we may be abe to get some help from others in the same situation.

 

Al the best

Lyn

 

Lyn

 

Agreed! I lost count of the "stock brokers" we sign up with and went through all the "know your customer" verification to find out that, despite what they said originally, they would not deal in RCI shares. I even tried US and Canadian firms [my brother lives in Canada and we were visiting them about the time we were trying to buy] my we could not do it that way.

 

I think they mentioned ii [or at least another online brokerage] on Moneybox on Radio4 this morning. If so, they have also imposed a fee for transfering stock to another broker [but it may be covered by the fees paid by the other broker for getting the business]. My mother was here at the time and I could not catch everything but perhaps you should check out the details.

 

For what it is worth, we use TDWaterhhouse [online] but have to have £5,000 deposited to avoid some charges [not so bad whilst interest rates are so bad] and they still manage to hit us with other charges. I monitior the share price against OBC gained constantly. We bought at a reasonable price and are still winning but, if we HAD to sell today, not but that much. We are lucky in that we can aford to wait until the share price is good if we ever decide that we will sell.

 

I have a feeling that Phil IS on a cruise at the moment. I am sure that I saw a post the other day indicating this. If he is, at least someone has managed to get away from this awful weather!

 

Sue

[Lyn Mc]

Hi Sue

 

Do you mean you have to have £5000 just sitting there 'in cash' I thought it meant value of your share holdings, I am so naive!!

 

There are some discussions on the 'leaving' charges that ii are trying to execute - £20 for a certificate and £10-15 for transfer per line for shares. I think they have stopped this at the moment because of so much pressure, if you take out your shares before 30th June, but not sure if they issue share certificates for non-UK shares. I am going to try to find out. If I can get a share certificate then I am presuming that will cure my problem.

 

I think Phil is back now as I saw his post on what started as a drinks rip-off post and has now gone on to how the Brits tip, etc, etc.

 

Hopefully he might see this.

 

All the best

Lyn

[C 2 C]

I think you would be further ahead selling your shares and booking passages the next time that you are on board. I believe the usefulness of the stock credit was greatly reduced when passengers were no longer allowed to piggy back OBC from onboard booking and the stock credit.

I would see no advantage of holding stock and being charged for the privilege.

 

I have held the stock in the past but no longer think it worth the risk.

[Project_gal]

I think you would be further ahead selling your shares and booking passages the next time that you are on board. I believe the usefulness of the stock credit was greatly reduced when passengers were no longer allowed to piggy back OBC from onboard booking and the stock credit.

I would see no advantage of holding stock and being charged for the privilege.

 

I have held the stock in the past but no longer think it worth the risk.

 

It has to be understood that the rule in the UK are not the same as in the US and shareholder OBC is combinable in more situations in the UK than the US.

 

Sue

[Project_gal]

Hi Sue

 

Do you mean you have to have £5000 just sitting there 'in cash' I thought it meant value of your share holdings, I am so naive!!

 

There are some discussions on the 'leaving' charges that ii are trying to execute - £20 for a certificate and £10-15 for transfer per line for shares. I think they have stopped this at the moment because of so much pressure, if you take out your shares before 30th June, but not sure if they issue share certificates for non-UK shares. I am going to try to find out. If I can get a share certificate then I am presuming that will cure my problem.

 

I think Phil is back now as I saw his post on what started as a drinks rip-off post and has now gone on to how the Brits tip, etc, etc.

 

Hopefully he might see this.

 

All the best

Lyn

 

Lyn

 

It is not as bad as all that. They do pay interest on the "cash" holding - it is just not that great.

 

I hope that ii sort out something reasonable but I doubt that you will get a certificate. If we could have done that, we would not have to hold our shares in the way we do!

 

I had not noticed that Phil was back from his cruise. I am afraid that I am getting tired of posts by Brits complaining that they are being ripped-off. If it has evolved into a thread about Brits and tipping, there is even more reason to stay away!

 

Sue