Written on: 01/09/2011 by weirdbeard (1 review written)
Like many other people, I was helpfully "opted-in" to Selftrade's management fee via their "secure online messaging". Get this - they don't even send you email, they send you messages that you're only aware of when you log in. And if you don't respond, they treat that as a yes! We're all in the wrong business.
After lengthy arguments (over secure messaging, of course), they agreed to refund management fees incurred and allow transfer out to another provider. This I tried to do. Which then failed. I received a letter from the new provider saying it had failed. When I logged into Selftrade, guess what? I had been sent a secure message asking me to pay enough funds into my account to cover transfer out fees. And the only reason the account had insufficient cash was that it took them a year to process the management fee refund!
I finally left Selftrade by selling all my meagre stock and using the net value to pay the new year's management fee which had been applied in the intervening period, and which they refused to waive.
AVOID AT ALL COSTS. This is thievery in all but name.
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