Frequently asked questions
Which services are you changing the tariffs for and how much will these cost?
We are changing a number of our charges. For further details, please view our in-depth guide
Why is the cheque administration charge increasing?
The cheque administration charge is increasing to £25.00 for each payment made to cover increased administration and banking fee costs.
When will these changes apply from?
The charges will apply from 6th July 2019, however the account administration fees will continue to be collected on the 26th of each month (with July being the first new amount).
How can I avoid the cheque administration charge?
To avoid the cheque administration fee, you can choose to receive a free of charge 3-5 day bank transfer withdrawal.
If you've not registered your bank details with us for withdrawing, please complete our adding your bank account details form. You will need to post this form to us along with evidence of your bank account, such as a voided cheque, paying in slip or a bank statement.
Once you have updated your details we will send payments to your bank account directly.
How can I withdraw my money from The Share Centre?
If you would like to withdraw your money from The Share Centre, we offer the following methods:
- 3-5 working day bank to bank transfer. This is free of charge and we will need your bank details so we can send cash directly to your account.
- Same day bank to bank transfer. There is a charge of £25 for this and you will need to share your bank details with us so that we can send cash directly to your account
- Cheque withdrawal. We can post a cheque out to you, but please be aware that we charge £25 per cheque to cover administration and process fees.
Can I set up a direct debit to pay my account administration fees?
Unfortunately, we do not currently offer a service that enables you to pay your account administration fees by direct debit. Transaction fees for account withdrawals or charges for administering estates of customer’s who have passed away will be taken before we complete the transaction for you.
Can I consolidate my ISAs?
Yes, you can consolidate your ISAs into one account. With our Self-select Stocks & Shares ISA, you will be charged one administration fee per account.
Can fees still be re–directed to a Share Account for ISAs?
Only administration fees can be re-directed to another account under the same customer reference. Please make sure that you have sufficient cash in the account to cover the cost of the fees associated with your account(s) with us.
I’m VAT registered; can I reclaim VAT on administration, postal, Frequent Dealing Option and Auto reinvestment fees?
Following the change in the VAT treatment, as advised by HMRC, these fees are no longer applicable for VAT, so you will not need to reclaim it.
Why is the VAT treatment changing?
This is as a result of advice given by HMRC that there is a change in the VAT treatment for administration, postal, fixed tariff fees (Frequent Dealing Option) and auto reinvestment fees.
I'm not a resident of the UK. How do the VAT changes affect me?
The amount you will pay will increase in line with our standard tariff.
If I want to transfer out to another broker, and they will only accept a cheque, is there an additional fee of £25 for this?
No, we will not charge you an additional fee if you choose to transfer to another broker.
If I only hold Share Plc in my account will I be charged?
If you only hold Share Plc shares and no other holdings or cash in a Share Account or ISA, then we do not levy the administration charge on the account.
Why is my quarterly administration charge changing to monthly?
We are changing our administration fee on some accounts (such as our Corporate Share Accounts) to a monthly charge to align it with our other Share Account products and simplify our overall tariff.