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

Blackbriar_040

gravel_2 

I mean, I would have thought if anyone was going to get sent a ton of investment/shares info, it would be the newbies that had just signed up for their first investment account!

Maybe try and temp us into buying more shares? 


  



  

sta0612

gwiddecommbe said:

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! 

I am in the same boat regarding a transfer from Zopa and missing interest following a delay in T212 applying the funds to my T212 Cash ISA. In fact, my funds have yet to be applied to my T212 Cash ISA.

I'm not familiar with the rules and regulations surrounding this but I would have thought T212 should be obliged to pay interest from the day they receive the funds? I believe this has been the case with other ISA transfers I've done (and I've done a fair few). It does not seem just that T212 should hold significant sums of customers money in a holding account, where they are potentially earning interest on it themselves, for a prolonged period of time.

Yellowman

I have a flexible cash ISA with Coventry.

If I use my remainiing allowance with a flexible Trading 212 cash ISA, can I withdraw from one to deposit into the other without breaking the allowance rules? 

Does the system recognise dual flexibility?

gravel_2

Yellowman said:

I have a flexible cash ISA with Coventry.

If I use my remainiing allowance with a flexible Trading 212 cash ISA, can I withdraw from one to deposit into the other without breaking the allowance rules? 

Does the system recognise dual flexibility?

No you can't. It has to be paid into the same ISA it is withdrawn from. You could partially transfer between the two if you want to retain the Coventry. I did this, keeping a currently not too competitive Skipton tracker ISA alive with ~£100 in it.

Spies

Withdrawals are pretty poor, suggesting it takes 3 working days. 

Aidanmc

Spies said:

Withdrawals are pretty poor, suggesting it takes 3 working days. 

My recent withdrawal took 1 day

gravel_2

Doing a test withdrawal, will report back.

gt94sss2

pecunianonolet said:

So far I only saw it featured in This is Money, and they already had to pause transfer in requests. Imagine what happens if it enters the MSE newsletter!

We are about to find out..

pokemaster

gt94sss2 said:

pecunianonolet said:

So far I only saw it featured in This is Money, and they already had to pause transfer in requests. Imagine what happens if it enters the MSE newsletter!

We are about to find out..

Also just seen it advertised on TV during the advert break of Martin Lewis Tv Show

EDIT: And Martin also mention it during his show

peter021072

I've already opened cash ISA for 20k this financial year, and have a separate fixed rate cash ISA which matures later this month. 

Is it within the cash ISA rules to open this 'Trading 212 cash ISA ' with zero balance and transfer the amount from the maturing fixed ISA on the date of maturity?