An iWeb charge on your bank statement can feel confusing if you do not remember paying a company with that name. If you have used a UK investment account, the strongest match is typically IWeb Share Dealing, which is now called Scottish Widows Share Dealing.
You should still verify the full descriptor before assuming that match. Several unrelated businesses also use the iWeb name, so the amount, currency, and transaction details matter.
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What Is the iWeb Charge on Bank Statement?
An iWeb charge on your bank statement most commonly makes sense if you have or previously had an IWeb Share Dealing account. The service has now been renamed Scottish Widows Share Dealing and is operated by Halifax Share Dealing Limited, part of Lloyds Banking Group.
Your account may be a Share Dealing Account, Stocks and Shares ISA, or an older IWeb SIPP. Older records may still use IWeb wording even though the consumer brand has changed.
You should not assume every transaction reading only “IWEB” belongs to this service. Other companies use iWeb for hosting, web design, and technology services.
Why Can iWeb Take Money From Your Bank Account?
Most normal trading charges are generally taken from cash held inside your investment account. Current Scottish Widows Share Dealing pricing lists £5 for UK share and fund trades, free regular investing, and no dealing commission on international trades, although a 1.5% foreign exchange rate applies.
Some administration charges work differently. If there is not enough cash in your Share Dealing Account or Stocks and Shares ISA, Scottish Widows says it may take those charges from your nominated bank account.
| Possible charge | Current published amount | Where to check |
|---|---|---|
| UK share or fund trade | £5 | Trade confirmation |
| ISA repair or voiding | £25 | Account messages |
| CHAPS or same-day payment | £25 | Withdrawal history |
| Paper account statement | £12.50 | Document requests |
| Dividend reinvestment | 2%, max £5 | Dividend history |
| International currency conversion | 1.5% FX rate | Trade confirmation |
Fees can change. You should compare your payment with the current charging schedule.
Pro Tip: Check your IWeb or Scottish Widows account before calling your bank. A requested statement, same-day payment, or account administration event may explain the charge quickly.
Did iWeb Used to Have a £100 Opening Fee?
Yes. Older IWeb customers may remember a one-time £100 account opening charge, and older consumer discussions still mention it.
That information is outdated for new accounts. Scottish Widows currently says its Share Dealing Account is free to open and has no annual account fee.
If a new £100 transaction appears now, do not automatically treat it as a current IWeb joining fee. Check the date and ask the provider to explain it.
Is IWeb Now Scottish Widows Share Dealing?
Yes. The official IWeb website now says that IWeb is Scottish Widows Share Dealing.
The service remains operated by Halifax Share Dealing Limited. It is regulated by the UK Financial Conduct Authority and is part of Lloyds Banking Group.
If you have an older IWeb account, you can generally manage it through Scottish Widows Share Dealing. Historical records may still contain the IWeb name.
Could the Charge Come From a Different iWeb Company?
Possibly, especially if you have never held a UK investment account. Businesses using iWeb branding also operate in web hosting and web development.
The currency and merchant country can help. A charge in British pounds may fit the UK investment service better than a U.S. dollar charge from an unrelated technology company, although currency alone cannot confirm the merchant.
You should ask your bank for the expanded merchant name if the short descriptor only says IWEB.
Is the iWeb Charge Legitimate?
An iWeb transaction can be legitimate if it matches activity in your investment account. IWeb Share Dealing is an established UK investment service and now sits under Scottish Widows Share Dealing.
Trustpilot currently shows the IWeb Share Dealing profile with hundreds of reviews and an overall score above four out of five. Recent reviews are mixed, with praise for low costs and support alongside complaints about the newer interface and service changes.
Because the service is UK-based, you may not find a meaningful U.S. BBB profile for it. Reddit discussions focus mostly on fees, transfers, and platform features rather than a widespread pattern of mysterious IWEB bank debits.
Evidence for the exact IWEB bank descriptor is therefore limited. Your account activity and bank-provided merchant details are more useful than online reports.
How to Verify an iWeb Charge
Open the full transaction in your banking app. Note the exact wording, amount, currency, posting date, location, and any reference number.
Then sign in to Scottish Widows Share Dealing if you have an account. Compare the payment with recent trades, withdrawals, document requests, and administration activity.
Search your email for:
- IWeb
- Scottish Widows Share Dealing
- Halifax Share Dealing
- Trade confirmation
- CHAPS
- The exact transaction amount
Ask another authorized user too if you share the bank account.
Common Mistakes: Do not assume a £5 bank charge must be a trade fee. Current dealing commission is normally taken from cash inside the investment account, so a separate bank debit may have another explanation.
How to Contact iWeb About the Charge
If the transaction appears connected with the investment service, use current Scottish Widows Share Dealing details rather than an old IWeb number.
Scottish Widows currently lists 0345 070 7129 for general Share Dealing enquiries and +44 113 239 1275 for calls from outside the UK.
Have your account information and transaction details ready. Do not share your full banking password, PIN, or one-time security codes.
What If You Do Not Recognize the iWeb Charge?
If you cannot match the transaction to any account or authorized user, contact your bank promptly. Ask for the complete legal merchant name behind the IWEB descriptor.
If the bank confirms the payment was unauthorized, ask about its dispute process. It may also recommend freezing or replacing your debit card.
If the payment was a Direct Debit instead of a card transaction, tell the bank that. Your cancellation and refund protections may differ by payment method.
Can You Get an iWeb Charge Refunded?
A refund generally depends on why the charge happened. A valid published trading or administration fee may not be refundable simply because you did not notice it.
If you believe the amount is wrong or duplicated, ask Scottish Widows Share Dealing to review it. Keep the transaction reference and any written response.
If you never authorized the payment, use your bank’s fraud or dispute process. Your bank can explain the protections that apply to your account.
FAQs: iWeb Charge on Bank Statement
Q. What does iWeb mean on your bank statement?
A. It may refer to IWeb Share Dealing, now called Scottish Widows Share Dealing, especially if you have a UK investment account. Because other businesses also use iWeb, you should confirm the merchant details.
Q. Does iWeb still charge a £100 account opening fee?
A. No, not for the current Scottish Widows Share Dealing Account. The current service says accounts are free to open, although older IWeb accounts were previously associated with a joining fee.
Q. Why did iWeb take £25 from your bank account?
A. A £25 amount may match current administration charges such as CHAPS or an ISA repair or voiding service. You should check your account history because another explanation is also possible.
Q. Is iWeb the same as Scottish Widows?
A. IWeb Share Dealing has been renamed Scottish Widows Share Dealing. The service is operated by Halifax Share Dealing Limited within Lloyds Banking Group.
Conclusion
An iWeb charge on your bank statement may be connected with the former IWeb Share Dealing service, which is now Scottish Widows Share Dealing. Current costs can include trading and administration charges, and some administration charges may be collected from your nominated bank account when your investment account has insufficient cash.
Compare the payment with your investment history and the full merchant details first. If you have never used IWeb or Scottish Widows Share Dealing and cannot identify the charge, contact your bank promptly.
Disclaimer: This article is for informational purposes only and is not financial or legal advice. Fees, merchant descriptors, refund rules, and bank dispute procedures may vary, so verify account-specific questions with Scottish Widows Share Dealing or your bank.
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