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

lohr500

Tonski said:

lohr500 said:

Tonski said:

My ISA with Virgin money ended today, and they just moved me straight into an easy access ISA (0.1% interest!). As I already have a general investing account with Trading 212, the ISA was opened in about a minute and then the transfer was initiated from Virgin extremely quickly. I can't believe how smoothly everything went.

Out of interest, is your Virgin transfer still in progress, or did it happen quickly?
My wife is transferring in one of her Virgin Cash ISAs and we submitted the request via the Trading 212 App on Friday.

It's still in the process of transferring. On the website it says, "contacting the broker". After how quickly it was initiated, I was hoping it would have been completed by now, but Virgin are probably taking their time with the request.

Same message on ours. I guess it is just a waiting game. I'm guessing Virgin may get in touch at some point to seek confirmation that the transfer request is valid.

Tonski

lohr500 said:

Tonski said:

lohr500 said:

Tonski said:

My ISA with Virgin money ended today, and they just moved me straight into an easy access ISA (0.1% interest!). As I already have a general investing account with Trading 212, the ISA was opened in about a minute and then the transfer was initiated from Virgin extremely quickly. I can't believe how smoothly everything went.

Out of interest, is your Virgin transfer still in progress, or did it happen quickly?
My wife is transferring in one of her Virgin Cash ISAs and we submitted the request via the Trading 212 App on Friday.

It's still in the process of transferring. On the website it says, "contacting the broker". After how quickly it was initiated, I was hoping it would have been completed by now, but Virgin are probably taking their time with the request.

Same message on ours. I guess it is just a waiting game. I'm guessing Virgin may get in touch at some point to seek confirmation that the transfer request is valid.

Transfer has just completed, and I received a message from T212 to say the funds are now in the account. It took 11 days in total for the transfer

friolento

Tonski said:

lohr500 said:

Tonski said:

My ISA with Virgin money ended today, and they just moved me straight into an easy access ISA (0.1% interest!). As I already have a general investing account with Trading 212, the ISA was opened in about a minute and then the transfer was initiated from Virgin extremely quickly. I can't believe how smoothly everything went.

Out of interest, is your Virgin transfer still in progress, or did it happen quickly?
My wife is transferring in one of her Virgin Cash ISAs and we submitted the request via the Trading 212 App on Friday.

It's still in the process of transferring. On the website it says, "contacting the broker". After how quickly it was initiated, I was hoping it would have been completed by now, but Virgin are probably taking their time with the request.

Been waiting for a transfer from Zopa for 11 working days now.

friolento

I only have a cash ISA with T212 and am not interested in their texts telling me about gains or losses in random companies. Never had ant other account with them. Obvsly I am interested in msgs pertaining to my cash ISA. I have updated my notifications settings in T212 but an still getting texts which have nothing to do with my cash ISA.

Anyone else getting these texts? Did you manage to stop them? I find these messages so irritating that I am thinking of transferring my ISA to someone like Chip or Moneybox

gravel_2

friolento said:

I only have a cash ISA with T212 and am not interested in their texts telling me about gains or losses in random companies. Never had ant other account with them. Obvsly I am interested in msgs pertaining to my cash ISA. I have updated my notifications settings in T212 but an still getting texts which have nothing to do with my cash ISA.

Anyone else getting these texts? Did you manage to stop them? I find these messages so irritating that I am thinking of transferring my ISA to someone like Chip or Moneybox

Where did you update your preferences? In the app there are many different options and you can modify where you want to receive notifications (in app, push, email) about what.

gwiddecommbe

friolento said:

Tonski said:

lohr500 said:

Tonski said:

My ISA with Virgin money ended today, and they just moved me straight into an easy access ISA (0.1% interest!). As I already have a general investing account with Trading 212, the ISA was opened in about a minute and then the transfer was initiated from Virgin extremely quickly. I can't believe how smoothly everything went.

Out of interest, is your Virgin transfer still in progress, or did it happen quickly?
My wife is transferring in one of her Virgin Cash ISAs and we submitted the request via the Trading 212 App on Friday.

It's still in the process of transferring. On the website it says, "contacting the broker". After how quickly it was initiated, I was hoping it would have been completed by now, but Virgin are probably taking their time with the request.

Been waiting for a transfer from Zopa for 11 working days now.

Mine just went through from Zopa. However, Zopa sent the funds on 31st and T212 didn't add to ISA until today meaning I haven't received any interest for four days! When querying this with T212 was told nothing they can do. Also T212 incorrectly reduced my annual allowance despite it being a transfer in from a previous year's isa so have had to ask for that to be readjusted. Totally incompetent! 

Beddie

friolento said:

I only have a cash ISA with T212 and am not interested in their texts telling me about gains or losses in random companies. Never had ant other account with them. Obvsly I am interested in msgs pertaining to my cash ISA. I have updated my notifications settings in T212 but an still getting texts which have nothing to do with my cash ISA.

Anyone else getting these texts? Did you manage to stop them? I find these messages so irritating that I am thinking of transferring my ISA to someone like Chip or Moneybox

I agree with you that unwanted texts are very annoying. Lots of providers do it without asking first.

Plenty of ways to stop them:

find the right setting - on the T212 website, go to the 3 lines icon, settings, notifications, then turn them all off - there are a few.
reply to a text with STOP
block them on your phone

There will never be a useful text that you'd otherwise miss out on, as they email you about anything important. If you cannot find the setting, ask the helpdesk to stop them for you. But any of the above methods are a lot easier than changing provider.

maximise

Can I open and pay into more than one cash ISA in current 24/25 tax year?

I recently opened a cash ISA with chip (5.1%) in May 24, and have chipped in a small amount (less than 2k).

I've also got a LISA which I plan to invest 4k before April 2025.

now I've just seen this paying 5.2%, I've just opened new Trading 212 ISA, presume ok to begin depositing remainder of allowance into here?

MeteredOut

maximise said:

Can I open and pay into more than one cash ISA in current 24/25 tax year?

I recently opened a cash ISA with chip (5.1%) in May 24, and have chipped in a small amount (less than 2k).

I've also got a LISA which I plan to invest 4k before April 2025.

now I've just seen this paying 5.2%, I've just opened new Trading 212 ISA, presume ok to begin depositing remainder of allowance into here?

Yes, limit is now £20K/year only, not restricted to a single ISA. Though, some providers have their own restrictions so read the T&Cs.

friolento

Beddie said:

friolento said:

I only have a cash ISA with T212 and am not interested in their texts telling me about gains or losses in random companies. Never had ant other account with them. Obvsly I am interested in msgs pertaining to my cash ISA. I have updated my notifications settings in T212 but an still getting texts which have nothing to do with my cash ISA.

Anyone else getting these texts? Did you manage to stop them? I find these messages so irritating that I am thinking of transferring my ISA to someone like Chip or Moneybox

I agree with you that unwanted texts are very annoying. Lots of providers do it without asking first.

Plenty of ways to stop them:

find the right setting - on the T212 website, go to the 3 lines icon, settings, notifications, then turn them all off - there are a few.
reply to a text with STOP
block them on your phone

There will never be a useful text that you'd otherwise miss out on, as they email you about anything important. If you cannot find the setting, ask the helpdesk to stop them for you. But any of the above methods are a lot easier than changing provider.

I have disabled every conceivable option in the app. Still getting random stockmarket stuff. I think I’ll next turn off T212 notifications in my iOS settings.