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Hi
I had been a user of Interactive Investor for over two years. I was shocked upon one of my infrequent log-ons, to discover I owed them £22. My shares were still there, but they had decided to introduce a new £20 quarterly fee, the benefits of which are only evident to regular traders. Basically they have stiffed the investors that just leave their shares alone, to check on them every four-six months, like I do.
I did ask them if there was anything that could be done, to which I received this reply!!!
"Thank you for your message dated 15th November 2012. I am sorry that we have fallen short of your expectations. I have investigated the point(s) you have made.
Secure Messages were sent on 31 May 2012 and 21 June 2012 informing you of the changes to our prices and your options. In addition to this, e-mails were sent out on the same dates and we updated our website to reflect the impending change.
I appreciate you have stated that this was not sufficient however, as confirmed in clause 12.12 and 12.16 of our Terms and Conditions, we will send all written notices to you via Secure Message. We will also contact you via email to inform you of any important communications that require your action. Such messages shall be deemed to have been received by you upon the date of sending.
We have introduced the fee in adherence with Clause 20.1 of our Terms and Conditions by providing you with 20 working days notice. We have also ensured the introduction and communication of the changes has satisfied our regulatory obligations. Furthermore, we have provided fee-free exits from our service until 31 July 2012."
A nice robotic quotation of the terms and conditions, which as we all know is akin to a company advising you they have no care for you just your money.
Stay well clear, they are very, very underhanded and will think nothing of bleeding you for all you are worth. I intend to close my account as soon as my shares have been sold, which is a shame because a year ago they were a good sharedealing company. Not any more.
Charlatans.
In summary, I would not recommend Interactive Investor Share Dealing to a friend.
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