Repricing FAQs - new subscription plans

The monthly subscription replaces our existing custody fee, which covers the safekeeping of assets held in your EQi accounts.

The monthly subscription fee replaces other custody fee charges:

• If you open an ISA, we will automatically open a dealing account for you free of charge 
• If you have an ISA, your Lifetime ISA won't be subject to the Lifetime ISA fee and will be included in your subscription plan. You can open a LISA if you are a UK resident aged 18–39.

To ensure a fair approach, we don’t base your subscription plan on the value of your account on a single day.

Instead, we calculate the average total value (including cash and holdings) of all eligible accounts you hold with EQi across each month. This reflects normal day-to-day market movements and avoids your fee being affected by short-term fluctuations.

Your total value includes all eligible accounts you hold with EQi, such as an ISA, Lifetime ISA, SIPP or Dealing Account, as well as any cash held within those accounts.

Your monthly average total value then determines which subscription plan applies for that month.

Your subscription plan is assessed monthly, based on the average total value of your accounts for that month.

If the average value is:

• Below £50,000 — you’ll pay £4.99 for that month

• £50,000 or above — you’ll pay £10.99 for that month

Although your subscription is calculated monthly, it’s collected quarterly.

If your total value moves above £50,000 for one month within a quarter, you’ll only pay the higher fee for that month. The other months in that quarter will be charged at the lower rate if your average value remains below £50,000.

This means your quarterly charge may include a combination of monthly fees, depending on how your total value changes over time.

Your free trade is linked to the months in which you qualify for the £10.99 subscription.

For example, if your average total value is £50,000 or more in May, you’ll receive one free online trade in June.

If your total value falls below £50,000 in a later month, the free trade will not apply for the following month.

Although your subscription fee is calculated monthly, it is collected quarterly, in line with your existing fee preference.

Fees are processed shortly after the end of each quarter once monthly calculations for that quarter have been completed.

The total quarterly charge will reflect the subscription rate that applied to each individual month within that quarter.

We’re unable to allow overdrafts on customer accounts, so it’s important to ensure you have sufficient funds to cover fees when they are collected.

If there isn’t enough cash in the account where the fee is due, we may:

• Collect the fee from another eligible EQi account where sufficient cash is available;

• If you have a Direct Debit in place, collect the fee from your nominated bank account; or

• As a last resort, sell investments where necessary to recover outstanding fees.

You can avoid this by ensuring you have sufficient cash in your account(s) ahead of quarterly fee collection.

You can add cash online via Debit Card or BACS, or by contacting our Customer Experience Centre.