Hi. just start using Freetrade, l.m using GIA at the moment, ld like to buy S&P Div Aristocrat but it says itās only for Plus member. Does it mean that once l open my stock& shares ISA by paying Ā£3per month, lād be able to buy S&P Div Aristocrat as lm planning on opening one soon. Please advice, many thanks.
No. You need to be a Plus member which is Ā£10 a month to access it. If you get Plus you get the ISA free though
Hi @Dean1234, Welcome to the community
In order to buy some stocks, you need to have plus membership (Ā£9.99 a month) which includes an ISA (for no additional cost) as well as some other perks. More details can be found here
Hereās how Freetrade decides whatās a free vs plus stock:
Hope this helps
Thanks for the repliesš, one more question, excuse me for being new to this. whatās the actual benefit for ISA compared to GIA apart from being exempt from incurring tax if my profit over Ā£11k , do l receive more dividends than GIA on ISA if l buy the same share? Thanks again
Great question, Freetradeās @DavidK did a write up on that topic just today!
Spoilers to the article but this sadly isnāt the case. But depending on your situation you could save by not being taxed on said dividends
Hi, lāve just opened ISA and l was putting funds into it using Natwest card, but then it says l need to confirm the payment using the Natwest card reader which lve never used & itād gone missing ages ago. Itās so frustrating. I used the same bank card to deposit twice in my GIA today and wasnāt asked to use the card reader, twice went so smoothly. Iām getting a bit concerned now, please help sort this out. Thanks
Itās not FT asking for you to use the card reader, thatās NatWest. They will prevent transfers over a certain amount to destination accounts that have not been āverifiedā via that mechanism. You will need to deal with that via NatWest.
Could l transfer funds from GIA to ISA right away please? As lāve decided to look at long term investment. Iāve bought some shares on GIA, l guess lāve to sell them all & rebuy them on ISA. What a hassle!! Is this the case? Sorry, itās my first day using this App. Cheers
Does it mean that itāll be fine if l deposit tomorrow?? Perhaps lve reached a limit for 1 day. Have you ever encountered this before? Thanks
We are just customers here.
If you have funds in your GIA you can ask in-app for FT to move the money to your ISA, but it can take a number of days from memory, so if youāre hoping to beat the ISA cut-off you may not want to rely on that mechanism. Ordinarily you would cash out your money back to your bank account, switch to the ISA, and then transfer the same money back again, but given your issues with NatWest that may be even more trouble.
If you have shares in your GIA then you would have to sell and re-buy in the ISA.
NatWest has a Ā£1K limit (from memory) for transfers to unverified accounts. I believe thatās reset each day, but youād be better checking your NatWest app to be certain.
No need to declare anything for tax purposes, so :
no Capital Gains Tax or Dividend Tax
For small investments now it might not seem important but worth considering long term.
Card readers are still a thing in 2021 ?
Whatās the tax free allowance in the Ā£3 isa account?
I know you can put in max 20 k
Thanks
In an S&S ISA youāre exempt from:
- Capital gains tax
- Tax on bond interest
- Tax on dividend income
I opened my ISA today and bought the same shares as GIA and then sold them, now all the above are great reasons to do it but the absolute best reason is mine are all now GREEN
God Iām a bloody clever investor!!!
Thanks a lot
Nationwide still require a card reader, used on the first payment to every new payee and then, depending on whatever criteria triggers it, on some subsequent payments too.