MEGATHREAD: Free Share updates and feedback 🎟

[Rat_au_van (Emma)]

MEGATHREAD: Free Share updates and feedback

Top up. We’ll fix it, thanks a lot!

MEGATHREAD: Free Share updates and feedback

There is no waiting list, but we had to filter for investors that have their W-8BEN filled out, as your reward shares can be either UK or US stocks. Can you check if you’ve filled out that form?

You need it filled in to send the referral so need it to receive it

[Racxie]

Thanks. I’m definitely not as active as I should be on here (or used to be when I first joined), so I must have missed that. Although I’m not sure I agree it makes sense, as someone could top up their account, get the free share, withdraw their money again and still keep the free share thus not actually having invested in the FT platform.

Whereas if they bought a share and sold it straight away they could be subject to some of the mandatory fees, meaning if they did it instantly they might lose out by a few pence.

[Rat_au_van (Emma)]

They could but by the time they get their free share issued they will have time to have checked out the app and decided it’s really good and keep using it

[Racxie]

Or so we can only hope. I’m still struggling to convince one of my close friends even with the free share incentive. I was even struggling before that despite always showing off my returns thinking that would be good enough

[Broadie03]

@Racxie

Although I’m not sure I agree it makes sense, as someone could top up their account, get the free share, withdraw their money again and still keep the free share thus not actually having invested in the FT platform.

100%. Some people will do this, others won’t. Some will plan to do this and then change their mind! It is no different to many other offerings (bank switches, chip savings etc).

I am sure @Viktor and team understand the possibility of the system being exploited. Ultimately, it is all marketing and exposure and will undoubtedly garner support for the brand.

[Racxie]

Well they have said numerous times that this is why it’s still in beta after all!

[Racxie]

So managed to convince colleague to top up £1 for now (he’s assured me he’ll be investing later) and notification finally came through saying I got my free share, but when I tapped on the notification and loaded the app nothing is showing anywhere.

Not sure if there’s a delay or this is a bug? I’ve tried restarting the app too with no luck.

Edit: spoke too soon. Just restarted the app again and it’s now showing! Must have just been a slight delay

[mjk97 (Matt)]

I also didn’t get a new link

[Viktor]

@Rat_au_van

Viktor clarified last week it was only a top up needed and you need the W-8Ben as the free share might be American

Yes! As the person sending the invite, you need to have your W-8BEN filled in. When your friend signs up, they get the form prompted to them as part of the flow, so they are able to do it right away.

[lucas]

Can you provide an update on when the referral links will be unlimited? i.e. we can send the same link to multiple friends and they are all get a mystery share (once topped up)?

[weenie]

Not sure if it’s been logged previously, but my free share link has been redeemed but I see a free share being queued under both my GSA and my ISA. It should only be under my GSA?

[Jonny]

@Gemhappe

Thanks again for reporting this.

For now the mystery share placeholder will show up in both your ISA and Basic account, but you will be issued the actual share in your Basic account only.

It’s been mentioned above

[weenie]

@Jonny

It’s been mentioned above

Thanks - missed that.

[Bradyy]

Hi Viktor, could you DM me regarding this please.

Many thanks

[Viktor]

Done! Thanks in advance for testing.

For everyone else, we’ll distribute more free shares tomorrow. Thanks for all the referrals to date, we are hitting some big numbers, and we are only in testing!

[zaccharles]

I think I wasted my last referral link by posting it on Twitter with kind words about Freetrade. Someone signed up but hasn’t topped up yet. It’s been a while, so I assume they’re not going to any time soon. Is there a timeout on referrals? If they decide the right time to top up is 3 months from now, will it still give a free share?

I hope I get a new referral link tomorrow!

[GMCay]

Can you share how many users have been actively referring during this testing phase?

[oxfordmark (Mark L)]

@Viktor

Done! Thanks in advance for testing.

For everyone else, we’ll distribute more free shares tomorrow. Thanks for all the referrals to date, we are hitting some big numbers, and we are only in testing!

Cannot wait, i used mine on Thursday, so be good to get another today.

[afreeb (Andy Freeburn)]

This is the biggest issue for me at the moment… you cant control how quickly the person you share the link with is going to go through the process - even with the best of intentions… and in the mean time the ability to refer anyone else is blocked… I gave a link to a friend who I know travels a lot and so they may be abroad and not in a position to top up right now but as they have started the process this has now effectively blocked my ability to refer anyone else… an ability to ‘move onto the next referral’ is kind of essential while you have this ‘one time use’ type referral link…

[weenie]

@afreeb

This is the biggest issue for me at the moment… you cant control how quickly the person you share the link with is going to go through the process - even with the best of intentions

Depends on who you send the link to, I guess. I sent mine to a friend who’d been pestering me for weeks - as soon as he got it, we were chatting over Slack going through the set up process and him depositing his funds. I got my free share queued the following day