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

Mrnkar_2

Sea_Shell said:

To test, I've just requested a withdrawal of £10.    It said this might take up to 3 working days.   We'll see? 

Now, it only gave the option of credit via Debit Card (which is how I made the initial deposit), so I'd be interested to know if this process is quicker, if you've registered you bank details with them, and deposited that way.  

I'm also interested in how much daily movement these SONIA rates are likely to have.   Do they move in big chunks or by 0.25% at a time (for example).    Is it directly linked to the BoE base rate announcements? 

I've just opened the account. I used my main bank account Nationwide to fund it with £1000 and the deposit has gone in immediately.

gravel_2

gravel_2 said:

Still waiting for Skipton transfer to make any progress..

Skipton had to phone me to verify - seems to be progressing now.

SeanM42

Is there a contact number for customer service at Trading212? Call me old-fashioned but I'm slightly wary of dealing with a company that doesn't appear to have a telephone number for contact purposes. 

Yours, 
Grandad

10_66

SeanM42 said:

Is there a contact number for customer service at Trading212? Call me old-fashioned but I'm slightly wary of dealing with a company that doesn't appear to have a telephone number for contact purposes. 

Yours, 
Grandad

Not that I can find, in the UK anyway.  I've been trying to deal with them via chat (initially) then (as they weren't reading my chats properly (or didn't understand them), I emailed instead.  They understood my query, but no one has got back to me after initial reply.

gravel_2

SeanM42 said:

Is there a contact number for customer service at Trading212? Call me old-fashioned but I'm slightly wary of dealing with a company that doesn't appear to have a telephone number for contact purposes. 

Yours, 
Grandad

They have a phone number listed on their FCA registration page. I am not sure what happens if you call it.

10_66

gravel_2 said:

SeanM42 said:

Is there a contact number for customer service at Trading212? Call me old-fashioned but I'm slightly wary of dealing with a company that doesn't appear to have a telephone number for contact purposes. 

Yours, 
Grandad

They have a phone number listed on their FCA registration page. I am not sure what happens if you call it.

Doh, though I Googled (with no result), I never thought of looking on FCA site.

gt94sss2

SeanM42 said:

Is there a contact number for customer service at Trading212? Call me old-fashioned but I'm slightly wary of dealing with a company that doesn't appear to have a telephone number for contact purposes. 

Yours, 
Grandad

You can try their forum at https://community.trading212.com/

They seem to have quite a few staff members there.

friolento

A bit disappointing: in the T212 transfer-in request, you cannot specify that you want to wait until maturity, or until the end of a notice period. This means you are at risk that your old ISA will roll over into another fixed term ISA, which would incur a penalty if transferred out before the new maturity date.

If the old ISA provider doesn't offer maturing into an easy access ISA, or doesn't offer a grace period after maturity, you can't transfer your matured ISA directly to T212.

masonic

friolento said:

If the old ISA provider doesn't offer maturing into an easy access ISA, or doesn't offer a grace period after maturity, you can't transfer your matured ISA directly to T212.

I was under the impression that providers must provide one of these maturity options. Those that do not support EA should give a grace period. Are there any that immediately lock you in with penalty if you fail to respond with advanced instructions?

friolento

masonic said:

friolento said:

If the old ISA provider doesn't offer maturing into an easy access ISA, or doesn't offer a grace period after maturity, you can't transfer your matured ISA directly to T212.

I was under the impression that providers must provide one of these maturity options. Those that do not support EA should give a grace period. Are there any that immediately lock you in with penalty if you fail to respond with advanced instructions?

I don't know, I have never paid attention to it before because the ISA transfer requests always gave me the option to tick "wait until maturity". I now have a Coventry ISA maturing, and the only maturity options they are offering me are transfer to one of their fixed ISAs (even though they also do easy access ones) or withdrawal. The Coventry maturity options do specify that you have 21 days from maturity to request a no-penalty transfer to a Coventry easy access ISA but I had to ring them to confirm that the same grace period applies to transfers to other ISA providers, too.