ISAs sneak peak

[Freetrade_Team_Design]

A little sneak peek of the intro screen to a certain most wanted feature

What are your thoughts so far & what do you want most from an ISA?

[Vlad (Vladislav Kozub)]

@Freetrade_Team_Design

What are your thoughts so far & what do you want most from an ISA?

Looks absolutely stunning! All we want is for it to be released as soon as it is reasonably practical

[Baggyb]

Looks amazing! Can’t wait for this and US shares to be available.

Is there a rough timeline?

[adavid (Aris David)]

ISA is a fantastic news.

[saf]

@Freetrade_Team_Design Looks good.

Screenshot looks like you need to select one option or the other. Can you have both accounts?

Are you changing the app’s colour scheme from pink to blue?

I would like to be able to set the maximum I want to invest in the Freetrade ISA, for example set 10k out of 20k and then have Freetrade avoid exceeding this.

[HoddzDJ (Ben #88)]

Looking forward to the ISA. Can’t wait to get my teeth stuck into it

[Rob14 (Rob)]

Looks good, very eager for this!! You could consider adding:
-An information bubble to explain more about info about ISA’s.
-Something that reassures people that they can get an ISA at a later date if they select basic.
-Or maybe have a link to intercom or a community page for someone who needs help deciding?

[Freetrade_Team_Design]

@saf

Are you changing the app’s colour scheme from pink to blue?

No way, we’re team pink through and through! This is just a wireframe not quite into the full visuals yet. Although admittedly this is a fairly high fidelity wireframe so we can move as quickly as possible to build.

@Rob14

-An information bubble to explain more about info about ISA’s.
-Something that reassures people that they can get an ISA at a later date if they select basic.
-Or maybe have a link to intercom or a community page for someone who needs help deciding?

All good points @Rob14, thanks for the insight! Specifically, I like the idea of showing more information about ISAs.

[Jeff (Jeff puckering)]

Building on @Rob14’s info bubble I would like to have an ISA FAQ link where I can get my top 10 questions answered (e.g. can I move my general account funds into the ISA and they stay tax free)

[Andrewpclark (Andrew Clark)]

Stupid question but I’ve fiddled a lot so far with my stocks. Can I still tinker if it’s inside an ISA wrapper? If not shouldn’t that be part of the selection process.

Would standard account be the top option rather than the bottom option?

[stephen]

You can tinker to your hearts content, but remember once you withdraw cash from the isa it counts against your allowance for that year.

Edit: To clarify once you put cash in it counts against that year, so if you take it out you can’t “put it back” so to speak.

[stephen]

Once the ISA is available, how do I get my stock in my Freetrade account into my ISA?

[Freetrade_Team1 (Freetrade_Team)]

Thanks everyone for your feedback & questions so far!

This is a pretty early sneak peak, in terms of our design of the product so we don’t have the answers to all of your questions yet but we will answer them later on.

So please do carry on sharing your thoughts & we’ll take them into consideration while we’re working on this or answer what we can of course.

[Vlad (Vladislav Kozub)]

@stephen

remember once you withdraw cash from the isa it counts against your allowance for that year.

Any chance Freetrade could consider a flexible ISA?
It allows withdrawing and injecting money back without a reduction of your annual allowance. (@Freetrade_Team1)

@stephen

Once the ISA is available, how do I get my stock in my Freetrade account into my ISA?

Good news for you:

ISA details

HI - we’re working on a plan to allow people who onboard before we offer ISAs to transfer their portfolios into one. It’s quite complicated operationally, but we’ll release more details when we have them. Please remember though you’ll only be able to do this if you don’t already have a stocks and shares ISA elsewhere for this tax year.

[Freetrade_Team1 (Freetrade_Team)]

I’ve just moved the discussion about the pricing of ISAs to it’s own topic, as this thread was getting a bit swamped, to give everyone space to share other bits of feedback here too now.

[albanr (Alban Roger)]

I am looking forward to the SIPP one.

[Jim_mcgrain (Jim)]

@PigeonStrangler

Once the ISA is available, how do I get my stock in my Freetrade account into my ISA?

This is my question too. I would like to move my investments in to my ISA and I hope there’s a mechanism for that. I certainly wouldn’t like to sell, then buy again.

I don’t think there’s a way around that - the ‘Bed & ISA’ process can be used but it still involves a sell / buy pair ( with potential associated Stamp Duty and price spread costs ) .

[Vlad (Vladislav Kozub)]

@Jim_mcgrain

but it still involves a sell / buy pair ( with potential associated Stamp Duty and price spread costs ) .

Whilst you are correct, that may potentially be avoidable :

ISA details

HI - we’re working on a plan to allow people who onboard before we offer ISAs to transfer their portfolios into one. It’s quite complicated operationally, but we’ll release more details when we have them. Please remember though you’ll only be able to do this if you don’t already have a stocks and shares ISA elsewhere for this tax year.

[Baggyb]

I thought that it mean transferring ISA to ISA but it isn’t 100% clear