This is available to customers with a linked bank account, other than those in the Lloyds Banking Group, which includes Lloyds, Halifax and Bank of Scotland accounts.
The feature is available on Android now with iOS on the way shortly.
If you have any feedback for us, we’d love to hear it, as always!
And check out our guide to the benefits of regular, long-term investing here:
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This should not be read as personal investment advice and individual investors should make their own decisions or seek independent advice.
When you invest, your capital is at risk. The value of your portfolio can go down as well as up and you may get back less than you invest. Tax rules for ISAs and pensions can change and their benefits depend on your circumstances.
Seriously though great to see. Being able to setup a regular deposit makes budgeting much more friendlier.
Will this pave the way for scheduled / regular investments? Any hints?
I assume this is available for all other banks supporting open banking (eg, Starling, natwest, TSB?) just not Lloyds banking group for whatever reason?
Thanks for the feedback @Eden. Don’t worry, we’ll get out to iOS shortly, thought we’d share the love with our Android users and go out to them first for this one
We’ve made this available to most banks (some more info here) but the reason it’s not available to some is because we don’t receive the full remitter information from some of them in the transaction. We’re working with Lloyds to fix this for their customers at the moment as we’d love to be able to offer it to them too.
while back when there was in-app funds transfer issue I was given bank details and ref number to do a bank transfer. It worked. Sent money from lloyds. Funds appeared immediately in the FT app. So set up a SO from the banking app rather than FT in-app.
Same, I currently have a SO set up via my banking app. I’m fine deciding on what to invest once the money is in but can see me setting up these auto-invests for small positions I want to build up.
Lloyds have responded. They have stated there is nothing wrong with the information they are providing to FreeTrade and that the issue lays with FreeTrade (so they are closing my ticket).
I got a standing order in place, or should i say i had one. I’ll be using this as a way to build up certain positions in due course, mostly small amounts, in an automatic fashion
I’m sure they didn’t mean that What I’d say is we have a mutual desire to address the issue and improve the experience for customers of both of ours.
Thanks for waiting Matthew.
I have confirmed with management that this issue with Freetrade is not an issue with the way we are sending our Standing Orders, rather it seems to be the way Freetrade’s new Standing Order system is currently operating.
It sounds as though they are working to fix this so hopefully this won’t impact you for too long.
)
What I’d say is we have a mutual desire to address the issue and improve the experience for customers of both of ours.