We make it as easy as possible by collecting fees automatically from your account. Charges will be calculated based on the value of your chargeable holdings on the last day of the month and collected in the following month.
Charges will first be collected from cash on your account. To help you manage cash balances to meet the fees due we have introduced a "Suggested Minimum Cash Balance".
The Suggested Minimum Cash Balance is designed to give you an idea of the cash you should hold on account to meet future fees. It is just a suggestion, however. You can ignore this if you wish.
If you don't have any cash on your account, and you have fully subscribed so you can't top-up, you could consider adding money to a Fund & Share Account. If you have no cash in your ISA, we will try to collect fees from cash you hold in your Fund & Share Account before we sell any of your holdings.
If there is insufficient cash on an account to pay the fees due and insufficient cash in the Fund & Share Account too, we will sell sufficient holdings to cover the amount owed and restore the minimum cash balance. There will be a small charge of £1.50 per deal if an automatic sale is required.
Our system will look to collect fees in this order:
- Cash in the account in which the fees were generated. If no cash on the account then
- Loyalty bonuses received on units purchased before 1 April 2014. If no loyalty bonuses then
- Cash in your Fund & Share Account. If no cash in your Fund & Share Account then
- Sell holdings to cover fees from the account in which the fees were generated
We will normally sell units of the largest fund holding first. If, for whatever reason, we are unable to sell units of the largest fund holding, we will sell units in the next largest fund holding, and if you do not hold funds we may sell part of other holdings.