A monthly administration fee of 0.05% will be applied to your GIA.
There is a minimum administration fee of £10 per year, which means that you will be charged at minimum a fee of £0.83 per month (or .05%, whichever is greater).
After 12 months, if the minimum fee charged is less than £10, your 12th-month payment will be rounded up, so the total paid within the year equates to £10.
If you hold a cash balance in your GIA account, the fee will be deducted from that balance.
However, it is likely that you won’t hold any cash balance in your GIA account, and will hold only listed investments instead.
It is important to note that if you hold listed investments in your GIA, your overall shareholding (and therefore the value of your holding) will reduce each month when the fee is applied. This is because each month your GIA will automatically complete a small share sale on the market in exchange for cash - the share balance in your account will reduce, and the cash that is received will be used to cover the applicable fee.
If you don’t want to see your shareholding decrease, you must either sell your shares by selecting the option to ‘Sell Shares’ in the Listed Investments section of your Crowdcube portfolio, or transfer your shares to an alternative broker.
If you want to transfer your shares, once you’ve identified a broker you want to transfer to, get in touch with us at firstname.lastname@example.org to request your Seccl ID and have your broker request the share transfer directly on email@example.com.
When will the administration fee be taken?
This fee is applicable from the 10th of the first month after you open your GIA account. For example, if you create a new GIA account and that account is funded on 25th April your first fee will be taken on 10th May.
For all newly created GIA accounts, Crowdcube will waive the fees that would normally be applicable on the 10th of the first month following your account being funded, if you decide to transfer or sell your entire holding prior to the 9th of the first month. This means you will have a short window from when you open your GIA to sell or transfer your shares without incurring any fees.
We recommend that you sell or trade your shares immediately if you wish to avoid fees.
Where can I check my monthly fees?
You can see the monthly fees that have been applied to your shareholding within the 'Contract Notes' section of your Listed Investments.
If the value of your GIA account is reduced to '0' the fee will no longer be applicable