Long suffering readers of the Amateur Investor will know that The Share Centre was chosen to provide our brokering services after comparing a few different dealers.
Since selling off most of the A.I. portfolio when moving to Funds, my Share Centre account has remained dormant. So when I received a letter notifying me of a change to their account charges I decided it was time to close the account…
I must say that I have received nothing but good service from them in the time I have used them. Reasonable charges, quick website, quick to respond to support queries etc.
And they would be top of my list if I decided to become an active share trader again.
But at the moment, the Fidelity platform serves me well and I have no need for a day to day share dealing account.
So what’s changed?
Effective 26th July, The Share Centre are introducing fixed, monthly account administration fees.
Their Share Account will have an admin fee of £1.50 + VAT per month and their Self-select ISA will have an admin fee of £4.00 + VAT per month.
On top of that, there will be a monthly charge of £1.00 + VAT per account to receive statements or contract notes by post.
Not sure how this compares with other Brokers at the moment, but as A.I. is currently only investing in Funds then it was time to say “goodbye” to The Share Centre.