An idea from Intercom, presumably this would require a partnership with the card supplier -
Add a Moneybox/acrons style features where purchases on cards could be rounded up and deposited as cash/invested.
An idea from Intercom, presumably this would require a partnership with the card supplier -
Add a Moneybox/acrons style features where purchases on cards could be rounded up and deposited as cash/invested.
+1 for this. I was going to suggest this myself. Why pay Moneybox fees for investing when you could do it yourself.
Round ups to a Freetrade pot in Monzo, transfer as a lump sum monthly?
Exactly what I’m doing
Or even IFTTT that for an automatic monthly standing order from a “rounding up pot”.
If I only knew how to do that
IFTTT can’t take any actions that move money out of a Monzo account
RIP idea then
Set up a standing order and IFTTT move the money out of the pot to main. Problem is you’d end up having to set it to a low amount so you’d know there’s enough in the pot or you’d end up using money from your main account to top the pot money up to the standing order amount. Too much faff and thinking compared with manually transferring imo
Here’s a crazy idea… Freetrade should become a bank.
I think they should partner with banks like Monzo and Starling to provide this - it would be a good way to introduce people who simply wouldn’t consider investing otherwise. Needs to be very simple to set up, ideally from within the other app.
Default could be to save pennies from spare change and invest once a month in a simple tracker.
I would just have it simple - an API that rounds up to the nears ÂŁ from any bank of your chooseing to your freetrade account. simple to set up .
The benefit would be you choose what stocks you invest in, personally, I don’t want a bot doing it for me. (for some you could have a bot do it)
Forget Monzo, If we Freetrade have the capacity to do it then do it. ( I Like monzo btw)
Yes there’s two things here:
You only want the first but I think the second is more useful for freetrade as a business.
I don’t think freetrade could easily do this without buy in from a bank unfortunately - the rounding up of spare change bit needs to happen on the bank side of things.
I agree with you @kenny in regards to these 2 points.
If bank intergrations seem harder with bigger banks, the challenger banks would be a great start as they are far more willing to partner. For instance a startup I am in talks with about investing, they easily connected and integrated with starling bank.
This can work both ways great for freetrade and the challenger bank
I would gladly create a partnership proposal for freetrade! (Small pitch) As when I think about today in terms of round ups I could have had ÂŁ38 which could have been almost 2 shares in ÂŁBRBY.
Hey guys last year I had a moneybox account and a certain feature was amazing. The feature of round ups. to anyone that doesn’t know what round up is, basically for example if you buy a coffee for 80pence you have the option to round up to £1 so 20 pence would go into your investment account. Over the week that money would add up. It was a great feature and would be great to implement it to freetrade. Would this be possible in the future???
Bump. Just seen Tickr just launched this.
https://twitter.com/my_tickr/status/1217430512781987840?s=21
Personally think rounds ups, fractionals and Autopilot would be close to the perfect combođź’°
Round ups, fractionals and autopilot are at the top of my wish list.
Is this on the roadmap?