Invest the change from purchases automatically

(Alex Sherwood) #1

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.

(Andy) #2

+1 for this. I was going to suggest this myself. Why pay Moneybox fees for investing when you could do it yourself.

(Harry) #3

Round ups to a Freetrade pot in Monzo, transfer as a lump sum monthly?

(Emma) #4

Exactly what I’m doing :grin:

(Vladislav Kozub) #5

Or even IFTTT that for an automatic monthly standing order from a “rounding up pot”.

If I only knew how to do that :sweat_smile:

(Emma) #6

IFTTT can’t take any actions that move money out of a Monzo account

(Vladislav Kozub) #7

RIP idea then :frowning:


Monzo supports only 2 actions right now

(Emma) #9

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

(Big Boss) #10

Here’s a crazy idea… Freetrade should become a bank. :exploding_head:

(Jeff puckering) #11

(Kenny Grant) #12

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.

Invest your spare change! to a Freetrade account

I would just have it simple - an API that rounds up to the nears £ 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)

(Kenny Grant) #15

Yes there’s two things here:

  • Round up change (requires deep integration with a bank account api)
  • Attract beginner investors by making it simple to invest small amounts without much effort.

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 £38 which could have been almost 2 shares in £BRBY.