Tred discussion

My balance has been at nought since Tred told me it would begin charging. I tried to close my account but the app is only set up to pre–populate an email from the Apple Mail app (:eyes:!!) which I don’t have.

The other option was simply to not have enough in the account to fund the fee, which would trigger an account closure after two months’ failed attempts. Needless to say I’m still a customer after six.

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Tred account all closed down automatically, on the day it pulled all personal current accounts. At that time, there was a lot of encouragement to invest via a crowdfund. Now that looks to be in trouble too…

From email, as I still receive them:

Hi there,

We’ve decided to postpone our public crowdfunding launch, it will no longer be going live this morning :alarm_clock:

Due to recent regulatory changes by the FCA, CrowdCube has reduced the amount of information businesses can provide on the pitch page, this includes Tred. This means we are still having ongoing conversations with pre-registered investors which we’re committed to completing before launching to the public. We believe this is the fairest approach.

If you’re interested in investing, please drop me a note by replying to this email or emailing [redacted]. I can help provide information upfront to give you an overview of Tred, our vision and product. This will help give you enough information before the pitch goes live.

I closed my account in December when they announced a monthly fee.

So was quite surprised to get an email recently saying

We’ve been contacting you over the past few weeks to settle your negative balance (debt) on your Tred account. Please reply to this email or contact support@tred.earth to settle this debt.

Especially since they haven’t tried to contact me and I have never had a debit balance with them…

In a way a shame but they never really had a product that was in any way market different to what else is out there. Plus charging for a basic bank account was never going to work for them.

Looks like last funding was for £688k in 2022 which I’d imagine is gone and they’ve run out of runway.

Slight shame.

So a bit like Algbra, Kr-poo, and all the others?

Kinda. I think Algbra does have a difference though, they actually have to me at least one of the nicest eco-first fintech implementations going. But Kroo, yeah.

Basically, you can’t just be “another FinTech” and expect to get away with it these days.

Do they? When I looked at them after they launched they just looked like a Revolut knockoff throwing away VC to get customers on board.