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

gravel_2

Why not invest the bonus money? Have a punt?

brucefan_2

@Money_Mad

I have used T212 for  number of years now. I'm usually reluctant to tempt fate but I have to say I have had no problems or difficulties of any sort.

I find the app very easy to use and navigate. Apart from the occasional outlier I've wished to purchase,  orders to both buy and sell have gone through very quickly.

The information available on the app is very useful but easily ignored if you wish to (I always research elsewhere too)

You can invest automatically with ready-made pies if that floats your boat, but again easily ignored if you're not interested.

It's very easy to keep track of dividend payments

Transfers onto and from the platform via a nominated bank account are straightforward.

PLease DYOR but I am very happy to continue to use them

MiserlyMartin

sta0612 said:

The Cashback T&Cs eligibility criteria state:

"You are a first-time registered and Activated ISA Account holder whose account is

activated between 29 January 2024 and 30 April 2024"

I have held money/investments in a Trading 212 ISA for a couple of years now. Am I right in thinking I am not eligible for the cashback?

Alternatively, does me having held an activated ISA between 29 January 2024 and 30 April 2024 make me eligible? (Wishful thinking).

I opened an ISA with them midway through 2023, but never completed the funding part because I was waiting for the new tax year to do so. Now they have come out with this offer. I wonder if it can be viewed that I never really activated the ISA because I never funded it, so if I opened a new one I should get the offer? I thought I could open a new one then fund it - but it doesn't seem to let you do that. So close the empty ISA I thought. But you can't do that -  you have to close your entire T212 account including your GIA if you have one.
Still wondering if that is the only way that I might get the cashback offer

Matt.D

Forgive my ignorance, I've read all the posts and have tried looking on Trading 212 but I cannot see if I need to manually opt-in to the cash back offer? If I do can someone direct me to where? 

gravel_2

Matt.D said:

Forgive my ignorance, I've read all the posts and have tried looking on Trading 212 but I cannot see if I need to manually opt-in to the cash back offer? If I do can someone direct me to where? 

It seems to be automatic.

Aidanmc

slinger2 said:

So today I've put £5k into their S&S ISA. The £50 (1%) bonus has already appeared in my "Invest" account but, as per the rules, it's not accessible for a year. I've turned on the "earn interest on cash" so I'm getting 5.2% "interest" (69p/day). This is variable and also my capital is at risk, so not comparable to a normal saving account.

Now I've got to decide what to do with the £5k.

How long from making a deposit does it take for the bonus to show in Invest account?

Beddie

Aidanmc said:

slinger2 said:

So today I've put £5k into their S&S ISA. The £50 (1%) bonus has already appeared in my "Invest" account but, as per the rules, it's not accessible for a year. I've turned on the "earn interest on cash" so I'm getting 5.2% "interest" (69p/day). This is variable and also my capital is at risk, so not comparable to a normal saving account.

Now I've got to decide what to do with the £5k.

How long from making a deposit does it take for the bonus to show in Invest account?

A minute or so

slinger2

Aidanmc said:

slinger2 said:

So today I've put £5k into their S&S ISA. The £50 (1%) bonus has already appeared in my "Invest" account but, as per the rules, it's not accessible for a year. I've turned on the "earn interest on cash" so I'm getting 5.2% "interest" (69p/day). This is variable and also my capital is at risk, so not comparable to a normal saving account.

Now I've got to decide what to do with the £5k.

How long from making a deposit does it take for the bonus to show in Invest account?

56 minutes for me by the look of it. T&Cs say up to 3 days I seem to remember.

slr1981

dumb question, but the T&C (4.2) say you need to accept the 1% cashback. I cant see this anywhere. I've deposited (as little as) £1 to test and still nothing. Looking at this chat it seems to be automatic, or have I missed something?

Aidanmc

slr1981 said:

dumb question, but the T&C (4.2) say you need to accept the 1% cashback. I cant see this anywhere. I've deposited (as little as) £1 to test and still nothing. Looking at this chat it seems to be automatic, or have I missed something?

Its automatic, a notification will appear in notification area after making a deposit. You need to accept the cashback from there.