Think twice about Interactive Investor Sharedealing... 23 February 2012 Reviewer: Busy grandad from UK
193 of 371 people found this review helpful
Value for Money:
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The editor's review was made in November, just as everything was starting to go pear-shaped with Interactive Investor.
They split with Halifax at the end of October, but unfortunately they do not seem able to handle the IT and admin involved. Either they are understaffed or the staff they have are not up to the job.
I have been in dispute with them over missing dividends, reinvestments and tax reclaims since the changeover and they are still not resolved. They promise immediate action over the phone then nothing happens. When you contact them again they tell you it is a "top priority" then nothing is done.
I contacted the Financial Ombudsman Service in December and they advised me to wait 8 weeks for Interactive Investor to sort their problems out, then they would intervene. After 8 weeks I contacted the FOS again and told them nothing had been sorted so they said they would contact them on my behalf. That was 3 weeks ago; and the problems go on. I think the complaints department at Interactive has gone into overload and switched off.
They were an excellent company prior to their split with Halifax. I have dealt with them for many years without the slightest hitch, so I am sad that they are floundering and hope they can somehow get their act back together. Meanwhile, I would hold back from investing with them.
*The star ratings I have given are based on the service Interactive Investor gave before the split. If there was a category for Complaints Response I'm afraid it would get zero stars at the moment!
In summary, I would not recommend Interactive Investor Share Dealing to a friend.