Tried to go all in on an ISA. Ended up closing the ISA 😔

The title of the thread does say you closed your ISA and your first post calls out the £3/month you wont be contributing. You did go a bit beyond just giving feedback.

The question is, has FT’s response made you reconsider the above?

I don’t see any of this as going beyond giving feedback, I think it’s best to be careful not to assume a tone behind a post and read something into it that isn’t there.

The title is a summary of the issue - what’s the alternative? Leaving out the closed part means it’s a bit cliffhanger-y, clickbaity, at best; misleading at worst. As for the £3/month, that doesn’t read as malicious or pointed in any way to me. Rather, it seems more to illustrate why Freetrade should be strongly incentivised to avoid the situation recurring with future customers in similar situations.

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For comparison I have done internal transfers on iWeb using their secure chat from my ordinary trading account to my ISA account. I also had to give the exact amount I wished to transfer and they confirmed it back. As I understand it this is a regulatory requirement and I regard it as essential. You wouldn’t make a transfer between your bank accounts without specifying the amount. I would have already sold my shares so there is cash waiting for transfer. This generally happened within 2 working days depending on what time of day I made the request. Afterwards I ask for the transcript to be emailed to me so I have a record.

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@Pedro1 why do you think this is a rant?. You have no idea how educative these discussions go far for newbies.@Peter thanks for the heads up learning a lot.

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An update to this.

We’re now 13 days waiting for a transfer from my basic account with Freetrade into my ISA with Freetrade.

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Hi :wave:

Really sorry about this. Can you drop me a DM and I’ll look into this for you now?

Meghan

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Oh I’m still using my standard account :slight_smile:

Helpful reminder, thank you! :slight_smile:

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I may be wrong, but as far as I know, there is actually no way to transfer from a regular account to an ISA - legally, you have to liquidate your positions, transfer funds over, and buy them again.

I think that applies to trying to shift from a regular account to an ISA, (i.e. a legal limit, nothing to do with Free trade or anyone else’s service). Not sure if it applies to switching an ISA from one provider to another - if it does, it explains some of Peter’s experience.

Ahsen

You can transfer ISAs between providers as long as the providers support it

Supporting it is the norm for established platforms.