Trading212 - "Please note you have been classified as a retail client."? And can't transfer in!

Midnight_Tboy

Hi,

So I looked at creating a new ISA account to transfer last years ISA over to, based on being the best easy access account on offer.  Trading212 at 5.2%

I have done the verification, 
but notice the email says "Please note you have been classified as a retail client."

Is that normal?

I've yet to Add Funds, as below, as I mainly only wanted to transfer in.



However, I was going to leave that (perhaps do it later with a token £1 if essential or something), but I now see that I can't even transfer in!!



I'm not getting good vibes with this so far

So it seems I may have wasted time setting this up in the first place

So this leads to a different quest......if I completely ignore this account I made, as it seems a no go-er, am I able to create another account to transfer instead, or is 1 being made the limit, even if not used?

Thanks

gravel_2

Do you think you're not a retail client?

The error you've screenshotted is no longer happening to me - a few days ago they reopened transfers, at least for me.

Midnight_Tboy

gravel_2 said:

Do you think you're not a retail client?

The error you've screenshotted is no longer happening to me - a few days ago they reopened transfers, at least for me.

I was thinking of retail client eg I could be a retail business, or something like that, and end up on some sort of business account or something that charges fees left and right

The transfer icon shows up, but yeah on clicking Get Started is where I get that message.  Really wish there was a statement on this before creating the account in the first place

dunstonh

I was thinking of retail client eg I could be a retail business, or something like that, and end up on some sort of business account or something that charges fees left and right 

You are buying a retail financial services product with retail consumer protections.  Professional investors (and other classifications) do not get the retail consumer protections.      It is a requirement to be notified how you are being classified.  Some do it in their T&C. Others more obviously so.