1. Are there any charges applicable when switching funds or products within M&G?
Switching your funds within M&G can sometimes be far cheaper than starting a new investment; in fact you can often receive a substantial discount on the initial charge. Charges can also be incurred depending on the circumstances of your switch. We recommend that you confirm any charges applicable to your switch by calling our Customer Relations team on 0800 390 390, or if you require any further information including minimum switching limits prior to making this transaction.
2. I am trying to enter the total amount in cash that I wish to switch but it just shows as 100% in the percentage field. What should I do?
By entering the total amount in cash in this way the system assumes that you wish to switch 100% of your holding. The result will be the same and you need only click on the 'continue' button to progress your switch transaction.
3. When attempting to switch I have been presented with a long list of relevant funds to choose from. What is the difference between 'Class A' and 'Class X'?
Many M&G funds offer a choice of two share classes: Sterling Class A shares, which may carry an initial charge of up to 5%, and Sterling Class X shares, which do not carry an initial charge but have a reducing withdrawal fee. For full details on available share classes and charges please read the Important Information for Investors document.
4. I'm trying to switch into an ISA but I do not have a National Insurance number. What should I do?
You must have a valid National Insurance number in order to switch into an ISA online. A temporary National Insurance number is not acceptable. If you wish to complete your switch without a National Insurance number, or with a temporary National Insurance number, please contact our Dealing Line on 0800 328 3196 so that you may do so over the telephone. The Dealing Line can be contacted from 8.00am to 6.00pm, Monday to Friday. All calls are free within the UK. For security purposes and to improve the quality of our service, we may record and monitor telephone calls. You will require your M&G client reference. Failure to provide this will affect your ability to transact with us.
5. I've switched into an ISA/Savings Plan and now wish to save on a regular basis into it. What do I need to do?
You can download the relevant Direct Debit form on the 'switch to' screen. If you have not downloaded this form from that screen, you can easily access one from our online literature library on our main website. You should complete your deal online and then fill in the Direct Debit form and return it to the freepost address shown on the form.
6. I have entered my Financial Adviser's code as prompted but received an error message saying that it wasn’t recognised and my deal would be processed as a direct transaction. What does this mean?
If a deal is placed as a direct transaction it means that your Financial Adviser will not be registered against this transaction and will not receive any commission that may be due. You should check with your Financial Adviser to ensure that the code you are entering is correct.
7. I'd like to add an account designation to my new OEIC/Savings Plan; how do I do this?
You will need to contact our Customer Relations team as you are unable to add this online.
8. I currently save into my investment on a regular basis and now that I have switched I would like to cancel/amend the amount I invest monthly; how do I do this?
If you wish to amend the amount or the funds that you save into, you can do this online in the 'change direct debit details' screen. If you wish to cancel your current Direct Debit details, please contact our Customer Relations team.
9. On the acknowledgement screen it says you will contact me but it doesn't say how or when.
You will receive paperwork relating to your switch transaction in the post from us. It will be sent the next working day after the deal has been placed.
10. Can I switch into or out of my M&G Investment Trust online?
Investment Trusts are companies which are dealt on the Stock Exchange and have very strict settlement periods when buying or selling. Because of this we cannot accept online switches or new/top up investments for them. You can’t switch into an investment trust, but if you would like to switch out of one please contact our Customer Relations team team on 0800 390 390. Alternatively, you can write to us at M&G Customer Relations, PO Box 9039, Chelmsford, CM99 2XG. Please remember to quote your name, M&G client reference and sign any written communication to M&G. Failure to provide this will affect your ability to transact with us.