Trading 212 2FA

slinger2

What's annoying is that a couple of months ago they changed 2FA from optional to compulsory without any real thought about how their existing users who didn't use it, could cope with it.

Sea_Shell

I haven't made a withdrawal since May.

That was hassle free and didn't need any apps or anything.   Has it all changed now ☹️

Will try another in the morning and see what happens.    

klloyd3

At first, I too thought it is too much of a hassle (experience from work, where we have to use mfa,  multi factor authentication for every thing)

It's easy enough. I used Google authenticator, once tradind212 and authenticator are linked, the 6 digit ( or so ) passcode is copied into clipboard automatically. Having said that, I am using both of them on android as apps, it cd be different for pc/laptop.
Gl 

klloyd3

As someone else has mentioned here, they shd have provided otp via  sms or email for those of us who don't want to install another app.
it indeed is a risky to have financial apps on phone, lest we lose our phone, which is quite common. I know of some1 who lost the phone during international transit, in a non-eu country!!. Exactly for this reason I refused to use my bank account using android app.

TheBanker

klloyd3 said:

As someone else has mentioned here, they shd have provided otp via  sms or email for those of us who don't want to install another app.
it indeed is a risky to have financial apps on phone, lest we lose our phone, which is quite common. I know of some1 who lost the phone during international transit, in a non-eu country!!. Exactly for this reason I refused to use my bank account using android app.

Authenticator isn't a financial app. I've got news for you - I work in a bank and if I want to log into the bank systems, using an authenticator app is part of the security process. 

Nobody can access the app as it's behind a password, unlike your SMSs which often display on the lock screen!

Sea_Shell

Sea_Shell said:

I haven't made a withdrawal since May.

That was hassle free and didn't need any apps or anything.   Has it all changed now ☹️

Will try another in the morning and see what happens.    

Well, I made small test transaction this morning, via the Website on laptop (not app)


Once i'd put in my PW, It gave me two options.    My verified linked Current account, or an unverified* Visa (Debit) Card.

The latter was limited to £40.   I think that is because I used that card to make my first small deposit, but have used open banking linked to my CA after that.   My full balance (less the £40) was available to withdraw to CA.

No further verification needed.   Job done.    Will take a day or so for the cash to appear in my CA.

So it seems like once you have verified a destination for the funds, it's quite smooth. 

Hopefully that remains the case.
  

*It gave me the option to "verify now", but I didn't, so don't know what that would entail.  It's linked to the same CA, so no need for that function TBH.

Aidanmc

Seems like 212 have reverted back to the original place of being able to use password to make withdrawal.

Yesterday when i attemped to make a withdrawal it immediately popped up to enable 2FA, but today looks like i can make withdrawal using password to linked current account of course.

Sea_Shell

Sea_Shell said:

Sea_Shell said:

I haven't made a withdrawal since May.

That was hassle free and didn't need any apps or anything.   Has it all changed now ☹️

Will try another in the morning and see what happens.    

Well, I made small test transaction this morning, via the Website on laptop (not app)


Once i'd put in my PW, It gave me two options.    My verified linked Current account, or an unverified* Visa (Debit) Card.

The latter was limited to £40.   I think that is because I used that card to make my first small deposit, but have used open banking linked to my CA after that.   My full balance (less the £40) was available to withdraw to CA.

No further verification needed.   Job done.    Will take a day or so for the cash to appear in my CA.

So it seems like once you have verified a destination for the funds, it's quite smooth. 

Hopefully that remains the case.
  

*It gave me the option to "verify now", but I didn't, so don't know what that would entail.  It's linked to the same CA, so no need for that function TBH.

Money arrived first thing this morning.   So 24 hours   

Northern_Wanderer

Aidanmc said:

Seems like 212 have reverted back to the original place of being able to use password to make withdrawal.

Yesterday when i attemped to make a withdrawal it immediately popped up to enable 2FA, but today looks like i can make withdrawal using password to linked current account of course.

After reading this I have just logged back in to T212. There was a message from them asking if I used a VPN, which I don't. Now I am able to enter a password to start a withdrawal. However, it wants me to "log in" to my destination bank account to "link" to my account. Is this some kind of open banking? The second withdrawal option requires me to provide them with a bank statement to prove it is my account. I'm not happy with either option.

I don't have anything to hide but what is wrong with just providing a sort code and account number for a withdrawal? It seems that T212 is on the complete Digital ID/ CBDC pathway. I also object to having to verify myself with a selfie. I guess I am old fashioned and no, I don't want to play this game. I can see this T212 as a fixed account that I won't access and will transfer out the ISA if I find something better. It's a petty there are few flexible ISAs with decent rates.

So yes, they seem to have reverted back to password for withdrawals. I am still getting messages saying they have sent a 2FA code to my firefox if I try to do anything on my profile. Obviously I don't get the 2FA code.....

And for anyone that wants to know, when you enter your email address to log in to 212, it's tracked by Facebook.

TheBanker

Northern_Wanderer said:

Aidanmc said:

Seems like 212 have reverted back to the original place of being able to use password to make withdrawal.

Yesterday when i attemped to make a withdrawal it immediately popped up to enable 2FA, but today looks like i can make withdrawal using password to linked current account of course.

After reading this I have just logged back in to T212. There was a message from them asking if I used a VPN, which I don't. Now I am able to enter a password to start a withdrawal. However, it wants me to "log in" to my destination bank account to "link" to my account. Is this some kind of open banking? The second withdrawal option requires me to provide them with a bank statement to prove it is my account. I'm not happy with either option.

I don't have anything to hide but what is wrong with just providing a sort code and account number for a withdrawal? It seems that T212 is on the complete Digital ID/ CBDC pathway. I also object to having to verify myself with a selfie. I guess I am old fashioned and no, I don't want to play this game. I can see this T212 as a fixed account that I won't access and will transfer out the ISA if I find something better. It's a petty there are few flexible ISAs with decent rates.

So yes, they seem to have reverted back to password for withdrawals. I am still getting messages saying they have sent a 2FA code to my firefox if I try to do anything on my profile. Obviously I don't get the 2FA code.....

And for anyone that wants to know, when you enter your email address to log in to 212, it's tracked by Facebook.

Trading 212 are meeting their regulatory obligations to prevent fraud and money laundering. Their mechanism is different to some other regulated firms, but that probably reflects the fact that their platform is newer and 'digital first'.

If you prefer to do things the old fashioned way, then you need to find a firm that will accomodate that. But, firstly, their interest rates are likely to be less competitive, reflecting the additional costs they'll incur. And secondly, most firms will move the way of T212 over time, especially those handling savings/investments where there tend to be few, but high value transactions.

I believe Facebook can track a lot of your browsing - for example if you go to Expedia and look for a hotel in Edinburgh, you'll find Facebook will show you adverts for hotels and things in Edinburgh for the next few weeks. This is a Facebook 'thing' - not a T212 'thing'. And whilst I use Facebook myself, the best advice for anyone who objects to tracking is not to have a Facebook account (or use Google or Bing - they do the same thing).