Open ISA, £50 free share

Hi All,

Have been doing a bit of searching re the offer of a free share with opening and funding an ISA with £5000.

Reading the T&Cs, the share is awarded within 30 days and the ISA needs to remain operational and funded until April 2022.

Would this mean in theory, a deposit of 5k could be made and then a portion of this could be withdrawn, provided some funds remained and the ISA was still open?

Just wanting to make sure I’m not missing anything in there before considering it.

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I also was wondering this and could this offer be used for a plus subscription ISA?

No point not making use of the interest you get with the plus account

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Excellent point, I hadn’t even considered that piece either. I’m assuming that as long as an ISA is opened and remains funded, everything would be alright but some more thoughts would be appreciated too.

Hi guys, I was wandering if someone could help me please.
I’ve only opened my free trade isa 2 weeks ago. I’ve had a email saying I’ve got until Monday 5th April to make the most of my Isa.
Now I’m really sorry for asking what is probably a silly question ( new to investing )
What will happen to the money that is in there now ? Thanks for any help.

I just wander what would happen to my shares I hold elsewhere. FT doesn’t support Baillie Gifford, Fidelity or Fundsmith so I can’t really transfer, right?

The funds and shares stay within the 2020/21 ISA wrapper and you can continue do with them as you please. The email is just saying if you want to top up your 2020/21 ISA wrapper do so before end of day 5th April, as after then a new tax yr starts.

New tax yr means you get another 20K tax free allowance to use in another ISA, be it with Freetrade or with someone else

Thank you for explaining. I appreciate that.

I don’t know the specifics of how Freetrade does this, but speaking from experience of transfers between other platforms…

When you transfer you can probably specify what you want to happen. One option is probably for the transfer to lead to liquidation of funds not supported by Freetrade and transference of the cash to Freetrade. Another option is probably to leave those funds where they are and only transfer the funds that are supported by Freetrade. If the form does not make the options clear, accompany it with a cover letter explaining what you want.

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Sounds like it. Bear in mind that the 21/22 ISA product will probably be non-flexible so you’d be reducing your 20k yearly limit if it’s new funds.

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That was what I’d thought. Sadly not in a position to deposit 20k in the tax year so it won’t impact me hugely to miss out with the ISA being non-flexible

I’ve fired an email over, so will report back on the answer too.

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Got a response today - providing £5000 is deposited initially, there can be money withdrawn and the share kept as long as the ISA remains functional.

It also qualifies if a plus membership is used.

As a side note, pretty happy with a response time of three working days as well for general queries such as this - seems like they may be getting through the backlog!

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Awesome, just opened an isa and plus account…3% interest and £50+ free share :grin:

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Oh, I didn’t see this before. When did this offer start? I’ve only just signed up for Freetrade 2 weeks ago, and put in £20k, so a bit gutted I just used a friend’s link and got a relatively rubbish share instead of this!

I couldn’t say for sure, I got the notification and email about it through on Monday. No harm in going and putting your email on via the link on the website and see if you still get the share through from it.

You could also email hello@freetrade.io to clarify/query. They will respond within 7 working days, but came back to me in about 3 days in relation to it.

Did you sign up for just a GIA? If you did then this deal is for when you I’m open an ISA

No, I opened the ISA first (although I got a GIA anyway). I guess it’s just bad timing…

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that is unfortunate timing :slightly_frowning_face: