The Internaxx administration fee is based on the value of your portfolio. It is calculated monthly and charged once per year. The fee is automatically collected from the cash held on your account.
If there is no cash on your account, the fee will result in your cash balance dropping below zero. No interest will be charged on negative balances resulting from fees.
Outstanding administration fees will automatically be deducted from additional funds transferred on to the account before being invested.
Charges will be collected in the same currency as your chosen portfolio.
The ongoing charges for managing the portfolio are automatically deducted by BlackRock from the fund performance, and thus not invoiced to your account.