Freetrade - has anyone undertaken a Uncrystallised funds pension lump sum (UFPLS) withdrawal?

UncleTomCobley

I've been trying from the start of February to get a UFPLS withdrawal from Freetrade. The process is ponderous with every step by Freetrade taking a week or more – and that’s with chasing via the “calling into the void” that is its on-line messaging system.

Things aren’t helped by Freetrade misplacing my application nor by me having to reconfirm my withdrawal request for some reason. Overall, it’s looking less and less likely that I’ll be seeing my lump sum this side of the tax year, which will mangle my plans somewhat.

Has anyone managed to get such a UFPLS withdrawal and, if so, how did they find the exercise?

Albermarle

I think I read in a thread somewhere that Freetrade charge a large fee for UFPLS?

UncleTomCobley

I don't mind the fee (it's £240) and I even thought (but only a little) that the service may reflect this.

It's the dead slow veering to stop pace for the withdrawal that is problematic for me,

michaels

Charles Stanley were making it very difficult for me to do a ufpls this tax year so I approached free trade as despite the fee it would have made sense but they said the 4 weeks remaining at that point almost certainly wasn't enough so I turned to II who were able to do it in a few days.

AJBell for DW were by far the easiest and quickest.

Albermarle

https://forums.moneysavingexpert.com/discussion/comment/81940813#Comment_81940813

£240 makes a bit of a mockery of it being a free platform if you want to withdraw funds from them . Most providers do not charge at all, and normally take one to two weeks.

[Deleted User]

https://forums.moneysavingexpert.com/discussion/comment/81940965#Comment_81940965

No charge with Vanguard and completed within 2 weeks or less, if cash is available in account. Slightly longer if funds to be sold, weekends, holidays etc .

DavidT67

https://forums.moneysavingexpert.com/discussion/comment/81940965#Comment_81940965

Those other brokers do charge an annual platform fee though on invested assets. So accumulate with FreeTrade, then part transfer in cash to HL, II, AJB or FI for no platform fees and free fast access.