On Jan 29th I sent payment from my bank account to Freetrade but it still has not arrived. I tried contacting Freetrade through twitter - no response. What can I do now? It was £500
Did you use your unique reference? If not you will need to contact them and wait for them to manually track it down. Don’t Worry though, your money won’t disappear.
Yes. I used the reference number and I did it thought the app. Not separately through the bank. Taking this along is not acceptable. Looking though the help form here seems that they are really snowed under, but that’s not really an excuse - I’ve used the app to send money and seems that their testing team are sleeping.
I’ve DM’d you for more details.
received. hopefully it will be resolved soon.
Turns out that the payment was held in Freetrade because the account names did not match. Feb3rd I received a note from Ops stating that there will be a request made to send it back to me.
Today (12 days after) I received a message from the same Ops user stating that they need to confirm my name by providing a cope of bank statement from which payment was originally made.
Then I received another email from the same user stating ‘we’ve instructed our banking provider to return it to the bank account the deposit originated from. Due to an increase in the volume of deposits being returned, our banking provider is unable to process your return within their normal timeframe. They have informed us that this will take a further 10-14 working days to complete. We’re really sorry about that.’
SO WHICH ONE IS IT???
This does not sound that ops actually have any idea what is going on… or at least it seems that way.
The company information page states:
You can withdraw money from your Freetrade account to your linked bank on the Account screen in-app. Withdrawals will take 3-5 working days to process to your bank.
So why does it take over 20 days to get anything done?
Can I ask what could have caused a mismatched name ? Was it a case of John Smith Vs Jonathan Smith for example?
I opened an individual account, but the money came from join account where my partners name is first. So it came as not my name. Its a simple FPO and should not take 1 month to process. And on top of that, its from Lloyds (my account) to Lloyds (their account). How sad is their back office?
Another day, another useless email: Got email that it now was passed to the ‘complaints’ department and it will be 10-20 days to resolve. Nothing about actual money.