Understanding AutoInvest

🥧 Pies & AutoInvest
1

Hi,

I think I am reading the autoinvest rules incorrectly… can someone please clarify…

Where it is said " Note: А 0.7% fee is applied to any deposit made via a payment method different from BankWire transfer or Instant Bank transfer, which is over the limit of £2,000."

Does this mean:
a) I can deposit £1999.99 a month from my bank account on a recurring basis with no charge.
or
b) there would be a charge starting (and continuing) from the second deposit (and beyond) of £1999.99 as it has exceeded the 2000 limit?

Thanks!

2

I’m sure it’s b) but keep it quiet as people paying this fee probably keeps it free for the rest of us :smile:

2 Likes
3

It’s b.

You can circumvent the fee by setting up a standing order from your bank a few days before and set autoinvest to do so from free funds.

2 Likes
4

Thank you, but i’m still not clear.

I used the £1999.99 just for purposes of the scenario. In reality, I’d like to auto invest about £250 per month.

Are you saying that I can set up an automatic payment to my account and then autoinvest that money from my ‘free funds’?

Thanks

5

Yes, that’s exactly what Scrooge meant. This is an option that we introduced back in 2022. You can find more information about the feature and how to set up your Pie in this topic.

Also, to answer your initial question, this is the correct scenario. All card deposits are fee-free until you deposit a total of £2,000.

2 Likes
6

Thanks - appreciated.