Terms and conditions for the reimbursement of exit fees resulting from a re-registration or transfer
Fidelity will reimburse up to £500 of exit fees that you are charged by your current provider if you move investments to us. You can either re-register the investments, which means we take over administration of them without you having to sell them, or transfer them, in which case they are sold and you then buy new investments with the proceeds of the sale.
The investments you move must be worth at least, £1,000, or £10,000 if you sell the investments first and then invest with us by debit card.
If you are moving investments to a number of providers, not just to Fidelity, we will only reimburse fees relating to investments that are moved to Fidelity.
To be eligible to have your exit fees reimbursed when you transfer investments, rather than re-register them, you must invest the sale proceeds with us no more than six months after you pay the exit fee.
If you only invest a proportion of the sale proceeds with us, we may choose only to reimburse the same proportion of your exit fees.
An exit fee is an administration charge that your current provider levies specifically for dealing with your re-registration or transfer, or for closing your account. It may also be called an account closure fee. We will not reimburse other fees, charges or losses that result from your re-registration or transfer, such as dealing or transaction charges, bid-offer spreads, loss of investment growth, loss of interest, penalties for surrendering investments before their maturity date and Capital Gains Tax liabilities.
How to claim
You should complete an Exit Fee Reimbursement Fee Form. Either download the form here or call us on 0333 300 3351 and we will send you a copy. The return address is shown on the form. You will need to include proof of the exit fees you have been charged. This could be a letter from your current provider or a statement showing the deduction of the fee.
We must receive your completed form no more than six months after you paid the exit fees it relates to.
You may complete separate forms if you move investments at different times or from different providers. The limit of £500 applies to the total amount you claim, not to each individual claim.
Provided that your form is in order and you provide suitable proof that you have paid exit fees, we will make your payment by electronic transfer. If you have not already given us your bank details, you will be able to include them on your form.