Stop accepting new customers

Why instead of growing a list of unhappy customers because you cannot reply to them in an appropriate manner don’t you just stop accepting any new customers until you catch up with your backlog first?

Edit: So it’s unhidden.

For the next person who wants to flag the message again, please by responsible and, at least, provide the reason to flag it (you can find the rules here FAQ - Freetrade Community) don’t just do it because of “I don’t like to read your shit”.

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Because they probably have 1 unhappy customer for every 5,000 new ones?

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Kinda a Bad Business move isn’t it

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Not sure if 1/5000 is accurate according to the number of people raising issues in the forum right now :slight_smile:

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Start-Up companies have teething issues and great companies (like FreeTrade) learn quickly from them.

We are here to support the start-up company grow its offering because they are allowing us the chance to do something that was not rly available previously.

FreeTrade had no idea 100,000 people in two weeks were coming b/c of a viral online thread. Though freetrade have responded to that inflow by hiring many new staff. This is positive.

Being part of helping a start-up grow, is a journey. It’s not perfect. Nobody said it was going to be.

Still to this day after 100 years my bank continually make mistakes.

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I guess this is the calculation they have to make. I’ve been trying to get my previously closed ISA re-opened for two weeks without success and may have to reluctantly open a HL account for this tax year. As a Freetrade investor though, the bigger picture and successfully onboarding the new customers is likely to be better overall. This customer growth could enable them to massively accelerate their plan and lead to us having a better platform quicker than would have been the case. For the time being, it is frustrating if you have an issue that needs sorting.

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True, but if I were a new user and saw this forum drowning in complaints like it is I would be hesitant to sign up.

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No one said FT has to be perfect. Some things are just avoidable. Stopping the sign ups is just a sensible thing to do right now. If a foundational aspect (customer support) of your business is at risk it’s just make sense to protected it. Creating a waiting list with a countdown and then working on the pain points that’s occurring with new and existing customers. Average out the response time for customer support and then onboard waiting list customers in set batch. The current process will just increase customer churn and cause lots of negative reviews.

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To be honest, I don’t think threads like this are very productive. As customers, we can see the number of threads being created each day is single digits. We can also see that there are thousands of users signing up each day, and we know there was a large spike of over 100,000 users from the last few weeks.

However, we can’t see how many are having problems, what sort of problems they are, how long each takes to resolve, how many there are left. It may be 1 in 5,000 new customers. It may be more.

Freetrade can see all of the above and more. We know that they’re going to do the best they can for the business and the customers in balance. We can trust that they’ve made the decision to continue accepting new customers given the data visibility they have that we don’t.

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But the user numbers are at record highs. So does it matter if you wouldn’t have signed up?

It sucks that customer service have been swamped - but generally using Freetrade is a simple and trouble free experience. The majority will be loving the app and having a great experience.

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Must admit, being new to Freetrade, my only gripe so far is the customer service. I made a payment by Google Pay, FAQ says it should have been instant, and if not to contact CS. Mine was nothing like instant, infact took ages to appear, but fearing my money was lost got onto CS. Been over a week with no reply yet. Luckily the money did arrive, and was in my account the following morning to trade, but could see this putting people off. Apart from that though, great App with great options available, easy to use, pretty fast on UK trades, US tends to be much slower, but already recommended to several people I know would be interested. Goodbye for good 212 (Once Freetrade get BAE Systems listed).

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Funny joke

The problem is that most of the complaints are due to money not appearing in new accounts, and I’d be happy to bet that its more likely due to people not filling in their details properly, rather than it being anything the that FT has done.

My bank transfers appear in my account within an hour or two.

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I signed up a new user today. Account creation took 5 minutes. Linked their bank account and made a deposit using open banking. Deposit showed up and my free share got queued less than two hours later.

The whole point of Freetrade is to provide a low-cost cost platform which can only be done by scaling massively and fast. They can’t go around pausing singups everytime someone hits a snag.

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My assumption is that this is the most common experience. I hope I’m right.

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Yep, same for someone I know… signed up, deposited money in various ways, it came through quickly, bought some shares, no problems at all, so it’s certainly not everyone having issues

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seriously now? worries that you have people

I deposited money from a trading platform using truelayer straight to my monzo account and straight back it was seamless and took less than 1 minute. When will Freetrade have instant bank transfers they need them NOW for gods sake in this day and age @Viktor @adam @sampoullain

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I’ve not heard of Monzo, Juno. What is it? :rofl:

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Shouldnt this be automated? like the whole point of having APIs : Google Pay takes your money → freetrade receives it and shows in your account? Apis supposed to help with scaling, thats why Google etc dont have so many support staff.

update:

number of users:

  • with funds deposited > who are active > who registered

first impressions count, so the onboardin experience ((depositing money etc)) should be prioritised imho.

dormant accounts are of no use if I was running a biz

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