Does Freetrade ever delete an account for long term inactivity?

Hi guys,

Haven’t checked my Freetrade account in over a year now, had some bad tech stock investments and have found the best way to avoid selling them at a loss is to have the app deleted and just sit for a few years on them.

I was wondering if Freetrade has any policy for deleting an account or anything like that for very long inactivity. I haven’t logged in since December 2021.


Very much doubt it.

If a broker did, it might well be classed as theft

This does happen in America. There was a planet money episode about it. If it’s inactive for a certain number of years the holdings get transferred to the state who tend to sell the assets and hold the money on the beneficial owners behalf. Great if your stock tanks after that, not so great if you just brought something and ignored it for 10 years whilst you thought the gains were compounding. The guy in the planet money episode thought he’d been holding Amazon stock for 20+ years, but no! I can’t remember what the process is called though.

I have no idea if the UK has a similar system. I’ve never heard of it so maybe no but :man_shrugging:. Probably worth a read of the T&Cs.

‘Estimates are around £3 billion is owed to UK investors from unclaimed shares and dividends.’
‘Companies House regulations stipulate that shares may not be cancelled if a holder cannot be traced’

I looked it up. In America it’s called Escheat. The planet money episode is also called that:

The problems are more to do with the past when we held the shares in paper form. People moved and didn’t pass it on. Particularly problematic when they move and die, very inconsiderate. I had a letter for the old lady who lived here. She got a letter regularly from Barclays with a dividend cheque in it. I only found this out as the estate agent wouldn’t give me her address and said I had to bring the letter to them. It was a 6 mile cycle ride to a town I didn’t visit normally. In the end the estate agents admitted she was dead. So opened them to find a cheque for a Barclays dividend. Rung them and told she very inconsiderately died before letting them know the change of address.

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