Trading 212 easy access ISA 5.2% APY and 1% cashback. Too good to be true?

masonic

Sea_Shell said:

Didn't know what to tick in respect of the US w8-ben form???  
Am I eligible as a UK citizen, but non-taxpayer?
I have no intention of buying US priced/domiciled stocks.  

You are eligible to receive a reduced level of withholding tax on dividends from US companies, but if you don't invest in US listed stuff it won't make any difference.

Sea_Shell

masonic said:

Sea_Shell said:

Didn't know what to tick in respect of the US w8-ben form???  
Am I eligible as a UK citizen, but non-taxpayer?
I have no intention of buying US priced/domiciled stocks.  

You are eligible to receive a reduced level of withholding tax on dividends from US companies, but if you don't invest in US listed stuff it won't make any difference.

I ticked the "don't need the treaty" box, and it seems to have now passed muster and is open.

Do most of you use the open banking facility to make deposits?       I will probably use debit card, initially, as that's free up to first £2000.    Only looking to put £50 in to have a play around to start with.    Will move more in once the Cash ISA is available.


ETA - £50 deposited, interest enabled.   But where is the "withdraw" button?   I can't see it anywhere.    (website)
Also where is the "log out" button.  It seems to leave me permanently logged in? 

gravel_2

Sea_Shell said:

masonic said:

Sea_Shell said:

Didn't know what to tick in respect of the US w8-ben form???  
Am I eligible as a UK citizen, but non-taxpayer?
I have no intention of buying US priced/domiciled stocks.  

You are eligible to receive a reduced level of withholding tax on dividends from US companies, but if you don't invest in US listed stuff it won't make any difference.

I ticked the "don't need the treaty" box, and it seems to have now passed muster and is open.

Do most of you use the open banking facility to make deposits?       I will probably use debit card, initially, as that's free up to first £2000.    Only looking to put £50 in to have a play around to start with.    Will move more in once the Cash ISA is available.


ETA - £50 deposited, interest enabled.   But where is the "withdraw" button?   I can't see it anywhere.    (website)
Also where is the "log out" button.  It seems to leave me permanently logged in? 

"Manage funds" in the menu.

PloughmansLunch

I opened/activated the ISA section in early April, and got the qualification notification in the app but haven't paid anything in yet. As the T&Cs say the campaign is active for net deposits between 6th April 2024 & 5th April 2025 I assume I'll still be ok for the cashback if I wait until the flexible ISA is up and running, but does anyone know otherwise?

gravel_2

The S&S ISA is flexible as of today.

Sea_Shell

gravel_2 said:

Sea_Shell said:

masonic said:

Sea_Shell said:

Didn't know what to tick in respect of the US w8-ben form???  
Am I eligible as a UK citizen, but non-taxpayer?
I have no intention of buying US priced/domiciled stocks.  

You are eligible to receive a reduced level of withholding tax on dividends from US companies, but if you don't invest in US listed stuff it won't make any difference.

I ticked the "don't need the treaty" box, and it seems to have now passed muster and is open.

Do most of you use the open banking facility to make deposits?       I will probably use debit card, initially, as that's free up to first £2000.    Only looking to put £50 in to have a play around to start with.    Will move more in once the Cash ISA is available.


ETA - £50 deposited, interest enabled.   But where is the "withdraw" button?   I can't see it anywhere.    (website)
Also where is the "log out" button.  It seems to leave me permanently logged in? 

"Manage funds" in the menu.

Found it now. Thanks   

And the log out button.    I hovered over it, and it didn't tell me what it did, so I pressed it anyway!! 

Sea_Shell

I'm glad the ISA rules changed so that you are not restricted to just one of each type of ISA, as this allows one to be a little bit more speculative as to "new" opportunities, whilst still having the option to fund existing "tried and tested" ones.   

I'm not in the accumulation stage now, so highly unlikely to get anywhere near my overall ISA allowance (or DHs too), with any "new" money.

Also, by the time I use up my whole PA with income, I still won't exceed the (current ) additional allowances for interest income either.   So don't "need" extra ISA's in that respect, but if the rate's good....

Obviously, those rules may change!! 

orange-juice

I’d be interested to know how the transfers out works, once they do release their cash isa. Or at least that they work smoothly (I.e say you wanted to transfer out funds from your S&S isa, that they don’t transfer out your cash isa too or vice versa).

gravel_2

That's the Cash ISA launched: https://www.trading212.com/isa?cash-isa=

I think I'll get my other ISA transferred over to this as I drip feed into the S&S ISA. Better rate and likely (hopefully) to continue tracking the SONIA rate.

10_66

gravel_2 said:

That's the Cash ISA launched: https://www.trading212.com/isa?cash-isa=

I think I'll get my other ISA transferred over to this as I drip feed into the S&S ISA. Better rate and likely (hopefully) to continue tracking the SONIA rate.

I've already encountered a couple of oddities with this, one quite perplexing.  My first name for official documents is obviously my given name, however, I always go by a family "pet" name, quite different from my given name.  I had to go on a live chat to query something, and they've picked up, somehow or other, on my pet name!  I haven't mentioned it anywhere during the application process and it's not on any documents I uploaded.  I'm worried now.

The other issue is that I'm trying to arrange a transfer in from YBS, and they'll only permit sort code and account number, and the last time I used those (to somewhere else), the transfer in failed until I used the roll number instead.  Not very promising start, as I can't get any sense out of CS.