I've moved to Davy's execution only PRSA in the last few months so have some experience with it now.
1) What percentage of fees in total would you expect to pay per annum on ETF’s listed on the ISE? Is it just the TER + 0.75%?
Correct just the TER + 0.75%. The TER is taken from the funds anyway (so you don't see it going) and Davy apply a debit to your cash amount.
To give my experience, I have invested in 14 ETFs & bonds, with TER ranging from 0.07% to 0.95% (and my weighted average TER is 0.24%)
If you choose less "exotic" ETFs you can really keep the TER down.
You mention purchasing some ETFs on the ISE - you will find this frustrating as not many are there. You're better off trying to find whatever ETF you want on LSE - much wider selection, no purchase costs with Davy, and many of them are listed in EUR too...
I am considering Vanguard EUR Eurozone Government Bond UCITS &
Vanguard FTSE Developed Europe ex UK UCITS. Both are listed on the ISE.
I have that bond also. I had that ETF too, but moved away from it as it pays dividends - for a pension Accumulation is more prudent I believe. Relatively low TERs (although better is possible if you really search). justetf website is your friend
2) With distributing ETF’s, is the dividend credited to your account?
Yes
3) Can the PRSA be set up to automatically purchase a chosen ETF or ETF’s monthly (after you credit the account via standing order) or must you purchase each month manually?
Doesn't do it automatically. If you want to go down this road, make sure you choose ETFs on the ISE or LSE - that way you won't incur charges.
Note that if the ETF isn't on Davy's list, you won't be able to do it from their webpage, and will have to call them. No extra cost for this, but adds a hassle factor.
4) I will contribute monthly, but are there any rules, penalties or limits on one-off contributions in addition to regular contributions?
Can't fully answer here. I topped up twice since my initial transfer in, and experienced no issues. Davy got in touch with me the first time I transferred in, to see if it was a contribution from an employer or the employee (me) - has a different tax treatment I understand.
5) Are the costs of purchasing ETF’s on other exchanges exorbitant?
Pricey but not ridiculous - E25 + 0.1%. Search google for Davy Execution Only Fees - there's a table in the PDF with the fees
6) Have you come across any hidden or unexpected fees?
Not so far - no "exchange access fees" like with Degiro. On 3 occasions over 20 trades, Davy tried applying higher transaction fees for me (basically applying a E40 telephone trade fee when it should be only E25) - they refund it when you point it out.
7) Any concerns about safety of funds if Davy’s went under?
Not until you said it! But joking aside, I didn't have to sign any CREST forms etc. so I'm guessing Davy hold the instruments in my name...it does bring a slight concern, nut everything in life is some sort of risk...