Trading 212 withdrawals

wmb194

John10101010 said:

Has anyone struggled to pay in?
I opened a cash ISA account to transfer my existing ISA into. Once it was opened, it tells me due to high demand for incoming transfers, they're not able to transfer it in currently. Does anyone know if this ever gets resolved and how long it takes? I'm currently holding off by putting any funds in (am I correct in saying I can open a different ISA if I haven't paid into one?). Thanks in advance.

IIRC this may have happened before, a year or two ago it certainly suspended new account opening for a while due to demand. It'll probably be resolved eventually. I've had no problem depositing funds.

The rules changed from this tax year so as long as you keep within £20k per tax year across all accounts you can pay into as many Isas as you like.

John10101010

Thanks wmb194

phoebe03cat

Seems impossible to use the chat service and get through to any human..is this normal? We are changing banks soon and are worried about how problematic this will be? Is contact generally a problem. We are talking isas. Deposits in were no problem ..deposits out..any issues? 

BigBlueSky

Had a good experience with Trading212 so far.

Joined up using a promotional code so I got a free share when I joined.  Mine was for Louis Vuitton and worth £11.  Not much, but OK for a freebie.  I might just cash that out.

You get 5.2% in both the standard account and cash ISA.  I've put my allowance into the cash ISA but wanting to transfer another ISA over but waiting on them accepting transfers again.  They assure me it is only temporary due to demand and shouldn't have to wait too long.

I requested a withdrawal from the trading account (as I needed to make a small deposit for the free share) and it went into my current account the following day.

No issues so far, everything seems to be working well.

Lettuce2

It would be better and transparent if upfront on their flyers Trading 212 clearly state the delay in payment....just like Oxbury bank for example.
It is not until my son tried to withdraw £3995 on Friday the 20th for the deposit of a car that we were reminded via chat of the small print in paragraph 9.3 of the terms and conditions.
The monies was deducted from his ISA account but payment was not received into his Lloyds account until Tuesday 24th.
The bank of mum and dad had to come to his rescue and saved the day!

cloud_dog

I think it is getting more difficult nowadays for people to understand that not every organisation uses Faster Payments, and I'm not aware of any investment platform that does.

I would suggest it was poor planning on your son's part.

wmb194

Lettuce2 said:

It would be better and transparent if upfront on their flyers Trading 212 clearly state the delay in payment....just like Oxbury bank for example.
It is not until my son tried to withdraw £3995 on Friday the 20th for the deposit of a car that we were reminded via chat of the small print in paragraph 9.3 of the terms and conditions.
The monies was deducted from his ISA account but payment was not received into his Lloyds account until Tuesday 24th.
The bank of mum and dad had to come to his rescue and saved the day!

It's easy access not instant access although having said this T212 gave me an instant withdrawal to one of my Halifax debit cards. 

I haven't tried it but you might be able to make ATM cash withdrawals from the GIA's debit card, you can certainly use it to spend money from your GIA in shops so I guess it might have worked at a car dealership but I haven't checked the exceptions (it definitely doesn't work at the Post Office, "government services" are blocked).

MikeyPGT

Foolishly linked my Chase debit card to pay in a £1 via Apple pay to snag the £40 free investment only to find out that Trading 212 will only pay out to 'verified accounts' - to verify you have to either send a photo of the front and back of the card (which don't contain any information!) or a copy of a bank statement which shows a payment to Trading 212 (which of course shows the Chase Account number not the debit card number) ...

currently on hold with Mihail Y on livechat who has 'invited a colleague to join asap to assist ...'

wish me luck!