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Written on: 20/11/2015 by Churchys287 (1 review written)

Used them for several years. Online trading in shares is fine. Little to go wrong. But where human involvement is required, I've increasingly found they're often not competent. It has the feel of public sector bureaucracy and inefficiency. Just some examples: several funds they offer can't be bought online due to some glitch. So you have to trade by phone. And they never get round to fixing the glitch let alone indicating the timescale. And they've taken forever to effect a transfer from another provider of my fund. No explanation for their service failure. No resolution. My gut feeling is they lack enough staff to provide a decent service. I've read people complaining about interactive investor (iii) taking ages to issue dividend tax certificates. It's that sort of inefficiency which plagues iweb. I'd leave tomorrow but for the high transfer out fees. Now they've introduced a £200 account opening fee for new customers, go elsewhere. Whether or not their fee structure works out cheaper for you depends on your investment profile. But it's an example of pay peanuts and get a monkey.

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