Pay as little as £1 per month to invest with Dodl and keep more of the money you make.
What's the Dodl account charge?
0.15% of the value of your investments in each account, per year.
It’s paid monthly and is a minimum £1 per month. That’s it! And it’s the same for every Dodl account, be it an investment ISA, lifetime ISA, pension, or general investment account.
It's free to:
- Open an account
- Transfer an account
- Hold cash in an account
- Withdraw your cash (with certain lifetime ISA exceptions!)
- Close your account
How do you pay it?
It’s calculated and collected monthly, from the available cash in your account, so it’s spread out over the whole year.
Remember to keep some cash in your account to cover your Dodl charge each month (don’t worry, you’ll be given a heads up before it’s collected).
Visit the help centre to find out more about how your Dodl charge is calculated and collected.
Calculate your Dodl charge
See what your Dodl account would cost you each month.
How it works: It's a projection of the full year charge based on the investment value you enter, then divided up into the monthly charge. Don't worry, you won't be charged until you've invested.
Enter the value of investments in your Dodl account:
Your full year charge would be (0.15% of what you entered):
So your monthly charge would be (it's that charge above divided by 12, min. £1)
The calculator is a tool to help you understand the Dodl account charge and compare it with other providers. It doesn’t project your actual charges, which’ll likely differ and be based on the real value of the investments in your account each month. It also doesn’t include any investment charges, like foreign exchange charges or stamp duty for shares, or ongoing charges for funds.
How does Dodl compare?
Well, here's a little comparison table we made earlier.
|Investment ISA with...
Annual % charge?
How it works out for a
|0.15% (min £1
|£1.25 / £15
|£5.99 / £71.88
|£4.75 / £57
|0.45% - 0.75%
|£5 / £60
|£1.25 / £15
|£1.83 / £22
1. Charges and subscriptions based on those published on all providers' websites on 5 June 2023. Charges can and do change so it's best to check websites for the latest figures. 2. Example of annual and monthly charges based on an investment ISA portfolio value of £10,000. 3. Investment charges, e.g. FX charges for shares and ongoing charges for funds aren't included in this table. 4. Freetrade's charge is based on their standard plan, paid monthly. 5. Vanguard's charge is per person rather than per account. And for the purposes of this comparison table, an average of Nutmeg's annual charge has been used (0.60%). 6. Because charges (with the exception of Freetrade) are based on the value of your investments, monthly charges will change as investment values change.
Interest rates on cash
Currently you earn 0% interest on any cash held in your Dodl account(s). If this ever changes the rate will be shown here so you can compare it with other providers' interest rates.
That's why it's important to invest your cash as soon as possible with Dodl. Just remember to leave some cash uninvested to cover your account charge.
A little more info about interest: Banks do pay AJ Bell for the total money held with them for all AJ Bell customers, including Dodl customers. The amount a bank pays varies, depending on the total cash held with them and the market interest rates. For now, AJ Bell expects these payments to be between 1.15% below and 0.15% above the current Bank of England base rate – but it could be higher or lower if interest rates are changeable. These payments are kept by AJ Bell to help keep your Dodl charges low.
Though they're important to consider, charges aren't everything - make sure the provider you go with offers exactly the products and services you need. And remember, Dodl doesn't do advice, just clear info!
The investments you choose will have their own charges, and they’re not included in the Dodl account charge of 0.15% per year.
You'll be shown a breakdown of the investment charges when you buy or sell any funds or shares in the Dodl app. But just so you recognise them when you see them, take a look below at the different types of investment charges you may get.
All funds (inc. exchange traded funds) available with Dodl have an ongoing charge, given as a % of your investment e.g. 0.20%. It covers the day-to-day costs of running and managing the fund. It’s deducted straight out of your investment by the fund manager – not by Dodl – so you don’t need to do anything to pay it.
On top of the ongoing charge is the fund’s transaction costs (basically the fund manager’s costs to buy/sell investments in the fund). It’s shown as a % of your investment in the fund, like the ongoing charge is, and you’ll be able to see both in the fund’s key investor information.
It’s really important to understand the charges for the funds you’re interested in before deciding whether to invest.
You’ll pay stamp duty when you buy UK shares electronically. It’s set at 0.50% of the value of the shares you’re buying and is deducted at the same time you buy them.
It’s also worth mentioning PTM levy. Again, this isn’t a Dodl charge but a government charge of £1 on any shares you buy or sell for over £10,000.
US shares charges (foreign exchange charges)
When you buy or sell shares on a market outside the UK, e.g. the US market, it costs Dodl a little more to place your order. To cover the cost of doing this, and to keep all other costs low on Dodl, you’ll pay a foreign exchange (FX) charge. You’ll see it on-screen as a % of the amount you want to buy or sell.
FX charge to buy or sell US shares
Up to £10,000
£10,000 to £20,000
You'll also pay an FX charge if the company you're invested in pay you a portion of their profits (dividends) in a foreign currency. That's because the amount will need to be converted to pounds before it can be paid into your Dodl account.
The FX charge to convert dividends/corporate action payments is 0.50%.