Instant bank transfers are here

Amazing work guys, just tested, works like a charm! Money appears in a fraction of a second.

Would that apply to withdrawal as well? Currently withdrawal is super slow.

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Yes if you don’t click your bank and type the reference numbers in manually.

My bank Santander account is not transferred my money still long 2 hours waiting today

There’s a slight bug in the Monzo transfer flow, when the transfer is complete and the third-party transfers back to the Freetrade app, it returns back to the screen to execute the transfer and the Continue/Cancel buttons are still active with the amount still live. The options therefore are to Continue, which will try and repeat the Top Up, or Cancel, which does not feel intuitive and leaves you thinking the transfer may not have gone through.

I tried it today and it was incredibly fast. Even before I closed my banking app, I already received a notification from Freetrade. This is really good compared to the long waiting times before.

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Tried it this week. Was super speedy, with the added safety of auto switching to my banking app allowed me to verify before transfer completed. Just a shame the final step goes through the true layer web app, but I guess that is a side effect of using open banking…

Transferred some money yesterday from my Santander account and still not arrived in my Freetrade account… instant bank transfer… taking longer than before

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Fantastic news, I love it!

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YESSSSSSSSS, Super Fast !

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tried twice from First Direct and worked perfectly both times

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@ZeroAlpha Dan, has your money arrived? Have you checked the details you entered?
Transfer seems to work within a few seconds for me.

Yes I did… and it’s still not there

Forgive me if this has been asked previously:

If we top-up into the ISA today and tomorrow (4th & 5th) will this account for this tax year? Or do ‘working days’ account for the top up?

Tnx

The transfers are real-time without any manual intervention so it’ll count towards 2020/2021 ISA if you’ve haven’t maxed out your ISA and if so then it’ll just be deposited in to your GIA and you’ll get a similar message from Freeda.

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Not on mine it didn’t!
Transfered today, money out my account and nothing arrived on my FT account.
Really :face_with_symbols_over_mouth::face_with_symbols_over_mouth::face_with_symbols_over_mouth::face_with_symbols_over_mouth:

Yes, but what you don’t mention is that its the first time you have done a bank transfer to FT. FT do state that the first time you do a bank transfer it could take some time to arrive. Subsequent transfers should then be immediate.

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Define sometime ?!?

Bank transfers take 3-5 working days, that’s standard. And it should only be the once. Withdrawing is far more painful :sweat_smile:

For BACS perhaps, not for Faster Payments.

The account details that Freetrade provide for non-Open Banking payments supports Faster Payments so assuming that a users account does too (and I’m not aware of any personal current account that doesn’t), then it actually lands in Freetrade’s account usually within minutes, and 2 hours at most.