Why it takes so long to transfer back the money and to settle the money from a sell

[NeilB]

Hi @Mansol

@Duncan covered this in his recent AMA.

Forum AMA with Duncan Leslie, Freetrade VP Product, Fri 5th Nov, 1 PM

Of course. I recognise how important withdrawals (and deposits) are - people want to feel in control of their money at all times. We’ve made improvements to both throughout the year, but I’d still like to cut the time it takes for a withdrawal. We don’t control settlement times unfortunately, so we make the money available in your account to withdraw as soon as we’re told it has settled (and sooner, if you want to that money trade again). We’re looking at how we can reduce the time to receive …

Forum AMA with Duncan Leslie, Freetrade VP Product, Fri 5th Nov, 1 PM

Yep, there’s a change to open banking coming called ‘variable recurring payments’. Catchy Basically this means being able to move money easily, regularly and automatically from your bank account to your Freetrade account. It’s also a whole lot less clunky and expensive than standing orders and Direct Debit. The banks have been mandated to implement this, so we’re waiting with bated breath…