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Reviews for Bestinvest
Average User Review Ratings for Pension (SIPP) products
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Review by smudger
submitted on 27 February 2015
Likes: None really
Dislikes: Exit charges on Low cost SIPP seem well hidden and very high. Customer service not impressive
I took out a 'Low cost' SIPP with BestInvest in 2014, and had a fund of just under £10000 invested in cash .
When I came to sell the fund the landed me with £400 in charges, that seemed mostly 'hidden' in the T&C's. e.g Calculation of income benefits £100), Annual charge for income payments £100), ad hoc income payments (£25), account closure payment (£125). Their wording of charges seems very well hidden and designed to confuse.
In addition they paid out about 25% of my amount in just over a week, but they told me I would have to wait for 7 weeks for the balance because I had missed a 'cut off' date that they don't seem to mention in their sales literature.
In summary 1) I don't tghink they are really low cost 2) it can take ages to get your money out of the SIPP 3) I think their sales literature seems misleading on charges
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Review by yashvir
submitted on 16 February 2014
Likes: none
Dislikes: they know how to rip you off with above average charges they also give you a kick up the back side when you leave them with rip off exit charges