@Freetrade_Team please could you look in this as t212 process their dividends in two days rarely there’s a relay but it’s getting worse on Freetrade @Viktor
Definitely been some kind of slowdown on dividends. I used to get them pretty much on the day, but waiting on at least 3 UK ones from a last week. The problem is, sometimes Freetrade will apply the amount to your balance, then notify you at a later point, which gets confusing. This was one of the reasons I suggested a rolling balance figure on the activity page, like on a bank statement.
Still waiting for my Petrobras from last Thursday!
I have noticed that Freetrade are getting slower and slower at paying dividends these days, they use to be very quick but lately its got much slower
Yes you’re absolutely correct. I invest only in UK stocks and mostly without fail it was the same day. Now I’m waiting two or three days and, although I’m trying not to as I like the product they offer, coupled with the fact that they take 5 days to transfer any money to you from your account I’m starting to get quite disillusioned with FreeTrade now!
@Freetrade_Team did post a response to my question on this in the community meet-up page:
I’m hoping it will still be addressed tonight as well but we shall see!
Just received 3 dividends, two which were due yesterday, one due 9th Sept. Better late than never!
I discussed this with Gemma Happe, head of Ops, who was talking about some of the challenges they face processing dividends - including receiving some payments by cheque!
She was clear, that this will improve fairly quickly
To be fair though @NeilB every single dividend that I receive with other brokers is cleared and in my account on dividend payment day and this has been so for many years … even when almost none of us used the internet to manage shares and brokers. The idea that dividend is not cleared and in the account on payment day is extraordinary and something very particular. I struggle to understand why Freetrade can’t do this bread and butter activity efficiently.
I had US stocks get delayed by a week.
Periodically I check if the dividends received against what I should have got, and then drop them an email. They then poke what broke and I get paid.
When I emailed them they said 5 working days but it has now been more than a week.
It seems that we a paying more and the service we get in return have been going down! If my dividend portfolio in my isa wasn’t in the red as much I’d be looking to transfer to another broker.
I suspect it’s a funds issue. I’m pretty sure I remember some info about other projects paying dividends out with reserved cash before they actually received the dividends.
But it sounds like payments are getting more delayed recently than they have been? Payments even for US shares used to be very quick. I’ve not noticed huge issues myself. But I do know freetrade don’t pay when you’d expect. I get dividend’s almost immediately elsewhere, but end of day for free trade (for UK). Not an issue for me, not something to note
When I was at Interative Investor, we had lots of issues with people missing dividends and a big project to clear it all up! It was a much more manual process than anyone would guess, as Neil says some of the dividends are received by cheque, have to be paid into the bank and then wait for them to clear! I gather the issue here is short term.
It sounds like they’re going to release a dividend calendar showing your upcoming dividends…
FT have paid my Lloyd’s dividend
Thanks. I have had 0 dividend problems with any broker I have used since I started investing many years ago and I have had more than 7 brokers in that time - small and big. Finding excuses for this bread and butter thing is simply of no help to many customers that complain on a daily basis about a problem that is getting worse and not better.
If the problem is manual. Then you have basically said that Freetrade has a scaling problem.
I do not have a dividend problem, my dividends are paid sooner or later. I did ask questions when my dividends did not arrive on payment day, now I feel what is the point? They do arrive.
Personally, I am not bothered about this too. But some people are - we have ample evidence of this on this forum. Also not being able to pay dividends on time is a marker for company management (amongst other things, of course) and many will consider this whether they are customers or investors when making relevant decisions.
The only dividend issues I have had (twice) was in regards to incorrect tax being taken in regards to diversified energy shares hopefully the next payment for this share will be correct.
Just got my Petrobras today, payment date last Thursday!