I’m not familiar with the other debit card offerings but I imagine having a debit card attached to your account would only be useful to spend your margin on things without having to sell your investments. A cool feature but considering FT has always been quite anti-margin/leverage I don’t think they would go for it.
Because there are a gazillion banks and other financial services firms offering that. You also shouldn’t treat your investment account as a bank account. That just encourages short-term and bad investment behaviour.
But most of all, it’s a massive opportunity cost to freetrade. They get absolutely nothing out of it, but would need a lot of resources to develop, maintain and support it. Freetrade is slow enough at developing anything. If they’d actually do this, I’d bet for Freetrade to go bankrupt fairly quickly since it shows they don’t understand the business and market they are in.
In practical terms, how would it actually work?
Would you have to keep an uninvested cash balance to be used, or would Freetrade have to liquidate some of your stock to cover the transaction?
If they do sell stock to cover it, people will inevitably complain they didn’t want to sell that particular stock, or they got a bad price & etc.
Freetrade would also be taking the risk of advancing you the cash from the sale until the trade settles.
As stated above, Freetrade is an investment app and I think investments should be kept far away from any day to day spending.
Shiny cards are cool though.