Overview:
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You'll have at least a 30-day window from when you open your GIA to sell your shares without incurring any fees.
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A monthly administration fee of 0.05% will thereafter be applied to any shares or money held within your GIA.
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Fees will be charged on the 10th of each month, with the first payment taken at least 30 days after your GIA has been created.
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There is a minimum administration fee of £10 per year.
In detail:
When opening a general investment account (GIA), you’ll get at least a 30-day window to sell or transfer your listed shares and withdraw your money without incurring any fees.
If you’d like to hold onto your listed shares within your GIA and continue to monitor the value of the shares over time, we charge a 0.05% monthly administration fee.
Fees will be taken on the 10th of every month, beginning after the fee free window. This fee will be taken automatically and only on the value of cash or shares within the GIA at that time.
After 12 months, if the minimum fee charged is less than £10/€10, your 12th-month payment will be rounded up, so the total paid within the year equates to £10/€10.
You will be able to sell all or a percentage of your shares at any time.
For example:
If you hold £1,000/€1,000 of shares within your GIA, you would be charged £0.50/€0.50 (0.05%) on the 10th of the month.
To give a further example, imagine your GIA became active on January 11th and for the 12 months thereafter your shares did not change in price, remaining at £1,000. You would not be charged during the first 30 days, and so your first charge of £0.50/€0.50 would be incurred on February 10th. Though December 11th, your total charge would reach £5.50/€5.50 (11 months x £0.50/€0.50). To meet the £10 annual minimum, your 12th charge, on January 10th would be £4.50/€4.50.
Note: If a Crowdcube funded company lists on a public exchange, as an investor, you're invited to open a GIA, you will be charged a 5.0% success fee if that funded company raised on Crowdcube after 01/04/2021. The success fee (based on the current market value of your shares) only applies to any profit made and will be deducted from your GIA once opened, or upon transfer of your shares to a third-party account.
