Help needed

Hi. just start using Freetrade, l.m using GIA at the moment, ld like to buy S&P Div Aristocrat but it says it’s only for Plus member. Does it mean that once l open my stock& shares ISA by paying £3per month, l’d be able to buy S&P Div Aristocrat as lm planning on opening one soon. Please advice, many thanks.

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No. You need to be a Plus member which is £10 a month to access it. If you get Plus you get the ISA free though :slight_smile:

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Hi @Dean1234, Welcome to the community :wave:

In order to buy some stocks, you need to have plus membership (£9.99 a month) which includes an ISA (for no additional cost) as well as some other perks. More details can be found here :point_down:

Here’s how Freetrade decides what’s a free vs plus stock:

Hope this helps :smiley:

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Thanks for the replies😀, one more question, excuse me for being new to this. what’s the actual benefit for ISA compared to GIA apart from being exempt from incurring tax if my profit over £11k , do l receive more dividends than GIA on ISA if l buy the same share? Thanks again

Great question, Freetrade’s @DavidK did a write up on that topic just today! :point_down:

Spoilers to the article but this sadly isn’t the case. But depending on your situation you could save by not being taxed on said dividends

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Hi, l’ve 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 & it’d gone missing ages ago. It’s so frustrating. I used the same bank card to deposit twice in my GIA today and wasn’t asked to use the card reader, twice went so smoothly. I’m getting a bit concerned now, please help sort this out. Thanks

It’s not FT asking for you to use the card reader, that’s NatWest. They will prevent transfers over a certain amount to destination accounts that have not been “verified” via that mechanism. You will need to deal with that via NatWest.

Could l transfer funds from GIA to ISA right away please? As l’ve decided to look at long term investment. I’ve bought some shares on GIA, l guess l’ve to sell them all & rebuy them on ISA. What a hassle!! Is this the case? Sorry, it’s my first day using this App. Cheers

Does it mean that it’ll 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 you’re 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.

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NatWest has a £1K limit (from memory) for transfers to unverified accounts. I believe that’s reset each day, but you’d be better checking your NatWest app to be certain.

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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 ?

What’s the tax free allowance in the £3 isa account?
I know you can put in max 20 k
Thanks

In an S&S ISA you’re exempt from:

  • Capital gains tax
  • Tax on bond interest
  • Tax on dividend income
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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 :stuck_out_tongue_winking_eye:

God I’m a bloody clever investor!!!

Thanks a lot

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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.

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