10,000 Bonus QFF Points for opening an IG Share trading account

[Dr Ralph]

I think it's been mentioned here already when did they close the loop that allowed you to add funds with Amex via Paypal?

Months ago.

 

[Des1801]

Has anyone been getting spam calls from a mobile number identifying you by name and then going on a spiel about having a secondary income and earning money trading shares ?

This is the only share account I’ve opened so wondering if the calls are connected to IG

 

[Dr Ralph]

Has anyone been getting spam calls from a mobile number identifying you by name and then going on a spiel about having a secondary income and earning money trading shares ?

This is the only share account I’ve opened so wondering if the calls are connected to IG

Not me.

 

[andye]

Has anyone been getting spam calls from a mobile number identifying you by name and then going on a spiel about having a secondary income and earning money trading shares ?

This is the only share account I’ve opened so wondering if the calls are connected to IG

This is a spam call I thankfully dont get

 

[leeflyer]

Looks like the good times are over.

I cannot deposit via paypal using AMEX but it will take my VISA card.

Thanks for the points IG. I'm glad I went hard whilst this opportunity was available.

Hi All - not clear to me ready through this lengthy chain if payments by Mastercard (0.5% fee) or Visa (1% fee) are counted as cash advances by the majors? Say Westpac in particular for me. I can't find any info on the Westpac T&C page. I would be interested in experience by others here. Thanks!

“Cash Advance” means any transaction treated by us as a Cash Advance, including transactions where you: • draw cash from the Card Account using an automatic teller machine or at a financial institution; or • receive from a Merchant a cash substitute (including, but not limited to, using the Card Account to purchase gambling chips or tokens, traveller’s cheques or money orders, or to load value to a stored value card or facility); or • transfer, or arrange for the transfer of, funds from the Card Account to another account."

 

[Dr Ralph]

Hi All - not clear to me ready through this lengthy chain if payments by Mastercard (0.5% fee) or Visa (1% fee) are counted as cash advances by the majors? Say Westpac in particular for me. I can't find any info on the Westpac T&C page. I would be interested in experience by others here. Thanks!

“Cash Advance” means any transaction treated by us as a Cash Advance, including transactions where you: • draw cash from the Card Account using an automatic teller machine or at a financial institution; or • receive from a Merchant a cash substitute (including, but not limited to, using the Card Account to purchase gambling chips or tokens, traveller’s cheques or money orders, or to load value to a stored value card or facility); or • transfer, or arrange for the transfer of, funds from the Card Account to another account."

Unless things have changed in the last 4 days, the situation is as has been discussed extensively already in this thread. That is, NOT cash advance if you pay via paypal regardless of the card used.

 

[leeflyer]

Unless things have changed in the last 4 days, the situation is as has been discussed extensively already in this thread. That is, NOT cash advance if you pay via paypal regardless of the card used.

Thank you Dr Ralph for your quick reply. I understand that Paypal is not a cash advance. My question was more specifically, rephrased perhaps directly ... "will using a Westpac Mastercard be treated as Cash Advance?". This incurs 0.5% rather than a 1% paypal fee. I did carefully go through the thread but I don't think anyone explicitly stated direct CC payments are treated as Cash advances. I also tried to confirm on the Westpac site if this was the case. Happy to be pointed out the error of my ways!

 

[tizey]

Westpac wasn't a cash advance when I ran mine through a few months ago.

 

[andye]

Mrs andye's was fine with HSBC and mine fine with Virgin Flyer but 3 months ago now

 

[jetcam]

Not a cash advance but return of funds is treated as a refund on a credit card so negates points earned on deposit.

 

[Claudia]

I’ve been waiting for my 10000 QFF points, having joined IG in June, with the 25 QFF points for my one and only single trade credited on 27 June. I thought the bonus points would be credited at the same time. I did use the ‘special’ link that the Ts&Cs said needed to be used. Now, after reading this forum, it seems I have to chase up the bonus points. Has anyone not had to chase up the bonus points? Am wondering if I should chase them up now, or wait a bit longer.

 

[sevenfourtyseven]

I’ve been waiting for my 10000 QFF points, having joined IG in June, with the 25 QFF points for my one and only single trade credited on 27 June. I thought the bonus points would be credited at the same time. I did use the ‘special’ link that the Ts&Cs said needed to be used. Now, after reading this forum, it seems I have to chase up the bonus points. Has anyone not had to chase up the bonus points? Am wondering if I should chase them up now, or wait a bit longer.

If your 6 week period has passed, then definitely chase up.

 

[Dr Ralph]

Just received this. Changes things for me:

"Dear Dr Ralph

We are replacing our inactivity fee on share trading accounts with a quarterly $50 subscription fee. Please note that this fee is not applicable to CFD accounts.

Your share trading account that holds shares or ETFs could be subject to a subscription fee from 30 November. However, you will be exempt from the charge if you:
•
Deal at least three times across either of your share trading or CFD accounts during the quarter,



OR



• Hold no open positions in your share trading account at the end of the quarter.
When will the fee come into effect?
The first quarter will run from 30 August to 30 November. If you are holding shares or ETFs in your share trading account by 30 November and you have traded less than three times across any of your accounts during the quarter, you will be charged a subscription fee.

For the avoidance of doubt, if you have no open positions on 30 November, you will not be charged a subscription fee regardless of whether you hold a cash balance on the account.

Please note that the subscription fee will apply per client rather than per account, and share trading accounts (not applicable to CFD accounts) with assets may go into deficit as a result of the charge. Please see our customer agreement for more information.
Why are we implementing a subscription fee?
Our share trading service provides active traders with an on-exchange trading platform, where they can buy and sell Australian and international shares at low commission rates and with low currency conversion fees. Offering these assets and providing protection for them comes at a cost. We believe that allowing clients to subscribe to the ongoing use of share trading accounts should be fairly met by clients who wish to continue using these services.

For more information about the subscription fee or to see our fees and charges in full, please click here.
We're here to help
If you have any questions about this or need help with your account, our highly trained client services team is available 24 hours a day from 1pm Saturday to 7am Saturday (AEST).

Kind regards

IG"

 

[BettyB]

• Hold no open positions in your share trading account at the end of the quarter.

What does this mean?

 

[andye]

What does this mean?

No fee if you have sold all your shares at that date

 

[rock86]

Just received this. Changes things for me:

"Dear Dr Ralph

We are replacing our inactivity fee on share trading accounts with a quarterly $50 subscription fee. Please note that this fee is not applicable to CFD accounts.

Your share trading account that holds shares or ETFs could be subject to a subscription fee from 30 November. However, you will be exempt from the charge if you:
•
Deal at least three times across either of your share trading or CFD accounts during the quarter,



OR



• Hold no open positions in your share trading account at the end of the quarter.
When will the fee come into effect?
The first quarter will run from 30 August to 30 November. If you are holding shares or ETFs in your share trading account by 30 November and you have traded less than three times across any of your accounts during the quarter, you will be charged a subscription fee.

For the avoidance of doubt, if you have no open positions on 30 November, you will not be charged a subscription fee regardless of whether you hold a cash balance on the account.

Please note that the subscription fee will apply per client rather than per account, and share trading accounts (not applicable to CFD accounts) with assets may go into deficit as a result of the charge. Please see our customer agreement for more information.
Why are we implementing a subscription fee?
Our share trading service provides active traders with an on-exchange trading platform, where they can buy and sell Australian and international shares at low commission rates and with low currency conversion fees. Offering these assets and providing protection for them comes at a cost. We believe that allowing clients to subscribe to the ongoing use of share trading accounts should be fairly met by clients who wish to continue using these services.

For more information about the subscription fee or to see our fees and charges in full, please click here.
We're here to help
If you have any questions about this or need help with your account, our highly trained client services team is available 24 hours a day from 1pm Saturday to 7am Saturday (AEST).

Kind regards

IG"

Got that as well.

Still looks fine though for paypal deposit and withdrawals, as long as there are no open positions there will be no charge.

 

[Dr Ralph]

No fee if you have sold all your shares at that date

Are you sure that's what it means?


Would this be a correct understanding of your interpretation?

I placed an order on August 30 to buy 3000 TLS shares at $1.50 a share. By September 2 none of that order had been fulfilled. If August 31 was the end of the quarter I would pay the fee as this was an 'open order'.

Does it make any difference if this was a sell order?

Or is it something else?

 

[andye]

I understood it to mean that if you have shareholdings under IG you pay.
I think your example would be a working order and not an open position so would probably not incur the fee
I'm a very amateur share trader so happy to be corrected

 

[Dr Ralph]

I understood it to mean that if you have shareholdings under IG you pay.
I think your example would be a working order and not an open position so would probably not incur the fee
I'm a very amateur share trader so happy to be corrected

That was my interpretation as well. Will be closing my account as soon as I sell all my shares on that interpretation.

 

[Lemon_Party]

My account has been closed.