Was wondering does anyone else Direct Debit come abit late - Mine says it should have came yesterday but it still hasn’t arrived
If you click on ‘View’ next to the DD information you can see the dates. It usually takes three business days to see the money.
If you click on the ‘cash breakdown’ under view breakdown, you might have the money in the account but unable to use it.
Same problem, which has resulted in a failed recurring order despite following the recommendation from Freetrade on how to set it up
Thanks for flagging this. Have mentioned to the team to investigate. This flow is just a first iteration and there are a number of improvements we can make so this feedback is always really helpful.
Not a huge deal as I’m not trying to time buying stocks. However, a little inconvenient I’ve noticed as there’s no way to trigger the recurring order, or have it re-try. I’ll have to edit the schedule
I may go back to standing orders for now, a little inconvenient to setup, but I think uses faster payments so a bit more reliable for the moment
Sorry to hear that your Direct Debit was late. Could you clarify whether this is a case of the money not leaving your bank account, or not allocating into your Freetrade account in time, please?
If it’s the former, there might be a couple of reasons why this has happened like insufficient funds or the bank account is not enabled to use Direct Debit from the bank’s side.
Another reason that a payment might not have left your bank account might be due to how close the selected day of the month is to the date of setting up the direct debit.
For example, if you’re setting up a direct debit today on the 4th of August, and you’ve selected the 6th of the month, the next payment date would be the 6th of September. The next charge date is shown in the timeline view @ItSecTrader described.
The reason for this is that there is a 2-4 working day window where the mandate needs to be accepted by the participating bank, thus no payments can be taken in that time.
If it’s neither of these cases, please send me a direct message with your Freetrade email and I will investigate for you!
Yh it not a big issue but I like to purchase Share quickly and get on with my Day
Hey in my case
Money left the bank on the 1st
Freetrade have it marked Pending direct debit to be available by end of day on the 3rd
And I had a recurring order setup for the 4th as recommended in the app if I remember correctly (4 days between DD and recurring order, though maybe needs to be longer for weekends but this week was all business days)
DD was setup last month
I have not received my funds via direct debit. They are showing as Pending in the app. The money left my bank account on the 1st so should have been made available to invest by the end of the day yesterday (3rd)
Hi Patrick - So the money has left the Bank (Can confirm that).
But according to Direct Debit Page, it should have allocated it to the Account Yesterday, but it still hasn’t been allocated yet (The Direct Debit has been setup on the 28th July)
I’ve also going back to using standing orders because the cash arrives in my account quicker.
One thing I found uber irritating with direct debits is that every time I changed the amount – I seemed to get tonnes of email notifications.
Ive just received it
Mine still hasn’t came yet
Hey all, We ran into an issue with the nightly job that allocates direct debit payments yesterday evening. We are slowly going through allocating these payments and should finish this by today. Sorry for the inconvenience!
Just saw I got mine through, hopefully any bugs sorted for next month
Yep mine just came as well thanks
Could someone from Freetrade explain why, if you’re now technically able to support Direct Debit, we can’t also have the option of using DD to pay the monthly subscription fee? Or is this coming?
(Payment by credit card would be OK too, but that is perhaps outside of the scope of this discussion. I just really don’t want to be paying subscriptions with a debit card - Freetrade is the only one of my many UK recurring payments that isn’t either DD- or credit card-funded.)
Could anyone help with timing here, direct debit goes out and two days later I have a recurring order set. It’s never worked… Because direct debit hasn’t arrived in time. This is three months now.
What is the guaranteed timeframe from direct debit leaving my current account to being tradable in Free trade ISA? It seems slow and inconsistent so if I need to I will switch back to standing order but that’s a bit of a let down.
Any suggestions? Thanks in advance
I can see it will take 3 days from some info I found in the direct debit section.
Not sure if thats the going rate but at least I can now time things correctly.
Yeah you’ll need to set the recurring order later. I’d suggest a week after your direct debit as the direct debit can take longer than 3/4 days if there’s a weekend and end up taking 5-6 days but the recurring order effectively ignores weekends