MSE misleading on Trading212 ISA

0765peter

cmgurney said:

Grahamnoelbutler said:

So I transferred in a large cash ISA recently with ease. I have a similarly large cash ISA elsewhere

I’ve been informed that I have a 40/40/20 split of those funds across their three linked banks.

Is there any reason I shouldn’t transfer my other cash ISA account in?

It’ll give me nearly double the FSCS protection limit. As long as their spreading of my second ISA is in similar vein,?

I came here looking for an answer to the same question. I've had my cash ISA with Trading212 since June. With the interest being added daily, I will hit the £85,000 limit tomorrow. The split on my account is 16 / 40 / 44 between the three linked banks. There are two separate posts by Trading212 on their user forum stating that FSCS protection is £85,000 per bank. I have no other savings with any of those three banks. I realise that the proportions held in each bank could change but that's something that can be monitored and it has remained stable for the past three months. So I'm inclined to leave the money to accumulate interest over £85,000.

Regarding the £85k limit I am getting close to this limit with my Trading212 cash isa and on looking where they hold it is shown in 7 financial institutions below and it shows after the %, how much it is and the highest is with NatWest which is £35k.

J.P Morgan - 5.45%
Barclays - 36.23%
Natwest - 41.94%
Lloyds - 11.70%
BNY - 1.69%
Investec - 2.34%
Santander - 0.65%

Am I correct in thinking as long as I do not go above £85k in the highest holding account (currently NatWest) I will be protected in each of the 7 as they will all be below the £85k limit even though the actual Cash Isa could be almost double this?

I have a cash isa due to mature with CBS in September and am wondering whether to transfer this in as I do like the Trading212 platform and this would take it to over £100k. Other people’s thoughts / advice will be appreciated.

Ch1ll1Phlakes

0765peter said:

cmgurney said:

Grahamnoelbutler said:

So I transferred in a large cash ISA recently with ease. I have a similarly large cash ISA elsewhere

I’ve been informed that I have a 40/40/20 split of those funds across their three linked banks.

Is there any reason I shouldn’t transfer my other cash ISA account in?

It’ll give me nearly double the FSCS protection limit. As long as their spreading of my second ISA is in similar vein,?

I came here looking for an answer to the same question. I've had my cash ISA with Trading212 since June. With the interest being added daily, I will hit the £85,000 limit tomorrow. The split on my account is 16 / 40 / 44 between the three linked banks. There are two separate posts by Trading212 on their user forum stating that FSCS protection is £85,000 per bank. I have no other savings with any of those three banks. I realise that the proportions held in each bank could change but that's something that can be monitored and it has remained stable for the past three months. So I'm inclined to leave the money to accumulate interest over £85,000.

Regarding the £85k limit I am getting close to this limit with my Trading212 cash isa and on looking where they hold it is shown in 7 financial institutions below and it shows after the %, how much it is and the highest is with NatWest which is £35k.

J.P Morgan - 5.45%
Barclays - 36.23%
Natwest - 41.94%
Lloyds - 11.70%
BNY - 1.69%
Investec - 2.34%
Santander - 0.65%

Am I correct in thinking as long as I do not go above £85k in the highest holding account (currently NatWest) I will be protected in each of the 7 as they will all be below the £85k limit even though the actual Cash Isa could be almost double this?

I have a cash isa due to mature with CBS in September and am wondering whether to transfer this in as I do like the Trading212 platform and this would take it to over £100k. Other people’s thoughts / advice will be appreciated.

As long as each is below the 85k limit I believe it should be ok but I can't confirm that.