Initial Deposit

Hello Team,

Was wondering if intended behavior:

  1. Create new Pie:
  2. Add some holdings.
  3. Setup Autoinvest , configure weekly/monthly schedule.
  4. get to card select screen, press X.
  5. Set Payment method.
  6. Autoinveat Pie created with weekly/monthly schedule, without initial deposit made.

Result: avoid having to make initial deposit.
So question, bug or working as intended?

1 Like

It is actually meant to work in that way. You can create a pie and decide not to deposit any funds at that moment. The pie is created at the moment that the slices are added and you pick a name for it, but you can come back later and deposit at any time suitable for you whether it’s manually or by picking an AutoInvest schedule.

1 Like

Not sure if we understood each other.

By steps above, I set up autoinvest schedule. I just avoided initial deposit. If this is work as intended, then why you have mandatory initial deposit on screen? As you cannot set initial deposit 0$.

Because as I written, If i do steps below I configure schedule payments and autoinvest is enabled. We can avoid initial deposit.

Create a Pie:

Add some holding:

Configure Autoinvest:

Setup weekly/monthly schedule:

Add Name:

Fund Pie:

On card select press X.

Check new pie:

Add payment method:

Select card of choice:

Finished setting up autoinvest without initial deposit made.

As seen Pie created, schedule set, card selected. However initial deposit avoided.

1 Like

Hi @Vedran, we know about the “exploit”. We create the pie once you reach the payment step. If for some reason your payment fails, or you simply can’t pay now (e.g. you just realised your card expired) it wouldn’t be great from a user experience viewpoint not to allow you to proceed.

As for why we require the £1 minimum initial deposit - not all payment methods allow authorisation without making an actual charge.

1 Like

@George,@L.D
Will there be an option to allow to use from the accounts free cash instead of a payment method for recurring payments to Pie?

We’re working on adding such payment option for the AutoInvest feature. You can keep an eye on our fixes and upcoming updates here. :slight_smile:

Super, Thank you. :ok_hand: :ok_hand:
Any timelines when this is planned to be implemented?