Feedback - testing account switching in the app


#1

So I have been asked to test the new switching feature, where you get to jump betweeen ISA and GIA.

Observations:

  • smooth switch between the two
  • the option to switch appears on the portfolio and account tabs
  • would be nice to also have the feature on the other two tabs, e.g. if I am viewing my ISA activity and I want to see my GIA activity I have to go to my portfolio (or account) tab, change to GIA and then go back to my activity tab.
  • Also when purchasing a new stock it doesn’t tell me what account I am in, it would be really useful to see this info (just in case I forget)

From the screen shot no indication if it is a GIA or ISA purchase


Help us test account switching 🔁
Can I use a Freetrade ISA & Basic account (GIA) at the same time?
(Philip Greenfield) #2

Be nice to have the current account visible and it also allows you to switch. That would solve both issues.

Looks good so far!


(Vladislav Kozub) #3

To add to what @stephen has very promptly shared already, the top-up worked flawlessly, the funds appeared circa within an hour. In fact, even my GIA top-up reference remains the same as it was prior to ISA switch in December (not sure if it is the case for everyone), hence I did not even need to copy it - clever Monzo remembered both :slight_smile:

I am of a strong opinion that having both accounts available is great in long-term, but personally do not see the reason to use GIA unless the ISA limit is reached or if certain stocks are only available for GIA. Speaking of the latter, hopefully, that will make it easier to offer such stocks as Tencent, which are not allowable for ISA!

Also, one other very significant factor for me is seeing the total value of the entire Freetrade Account (GIA + ISA), even as a plain number somewhere (even better if it could show the total change for 1D/W/M/Y). For example, something like this (but with fancy Freetrade design, of course):


Look forward to seeing other people’s opinions about having both accounts accessible :wink:


#4

Agree - to see total amount would be nice


#5

In my spreadsheet, the useful value for me to know is “what is the value of my GIA if I sold everything in it”, ie. after capital gains tax deduction. Otherwise your GIA looks a lot better than it is, in comparison to your ISA, even though you don’t really have that much money.

But maybe that’s too difficult for Freetrade to communicate the meaning of such a number. And you’d have to configure if you want it to take account of your CGT allowance or not.


(Vladislav Kozub) #6

What you are suggesting is well thought through and may take a significant burden off taxpayers’ shoulders when it comes to self-assessment. However, the reason why I think Freetrade should keep figures as basic as possible is because they can never assess each individual’s case accurately. Say, you sold a house and used your AEA against the 28% residential property rate, hence you will not benefit from post-CGT deduction calculation but rather get confused and misled.

And since it is quite difficult to find a solution that will fit every single individual, a simple line of “total £ value of GIA and ISA combined” seems quite reasonable. But I would be happy if Freetrade or any other community member could come up with a better alternative :slight_smile:


(Kenny Grant) #7

Yes I really think freetrade need to rethink the idea of a global modal account switch in the next year or so, before it is too late and everything is designed around that. It has too many flaws and will make if much harder to present agreggate figures like this. Will become even more important if they add jisa or sipps.

Still it’ll do for now I suppose and gives us quick access to both accounts.

I’ll settle for more informative portfolio graphs for just one account in the meantime :slight_smile:


#8

I suspect all GIA top up references would be the same, presumably the account was just not accessible in the app rather it vanishing.

Looking at your image for the GIA account, it’s interesting the Portfolio chart hasn’t updated, I thought it would be 0 since it’s been months, but it looks more like it was frozen when you stopped using it.

I also agree that aggregate views sound super helpful, then let customers filter by the different accounts. I’m sure a solution is on the roadmap though.


(Jani) #9

Thanks everyone for the great feedback! This definitely isn’t our final solution for multiple accounts but rather a first version to gain further insights and to provide some value to our users who like to use both accounts. @Mitchell has outlined our thinking behind this current version we are testing here just to give a little bit more context. This is, however, exactly the feedback we will be using when we start building out our Universal Account View, which you can see also on our open product roadmap. Thanks and keep the feedback coming :slightly_smiling_face:


(Jonny) #10

Hey, I’ve noticed that I can no long switch accounts. I’m stuck in my GIA


(Alex Sherwood) #11

Could you please send us a message about the via the in-app chat so that we can check on that for you?


(Chris) #12

Switching is working nicely. I was pleased to see the history was retained from before my ISA switch.
As mentioned above, it would be nice to be able to swap on each tab rather than just the one.