Cash ISA Trading 212 (corrected)

Isarulesaretoocomplex

Czure said:

ex2t633w said:

Made a deposit, via the APP, into Trading 212, from my bank --no problems-- make sure you tick the box for CASH ISA, and not " Investing" . Deposit showed same day .Good interest rate, quite happy with it, and withdrew a chunk too, to try it out , and that happened straight away into my bank .

Read so many negatives regarding withdrawals that It's reassuring to see a recent positive experience with this.
I also had no issue opening my T212 Cash ISA & transferring in. Did mine via online however but was all there making interest 2 days after opening.

Pity they've just announced the rate cut to 4.90% on 1st Dec' but everyone should've known it was coming soon & it's still the best fully flexible available which for many is a must.
Moneybox may still be offering 5.17% for now but the limit on withdrawals & lack of flexibility can be an issue, plus I'd be very surprised if they don't follow suit soon with a rate drop.

I see they've raised the rate up to 5.1 but only for new investors. Seems a bit unfair for those of us who originally got 5.17 only to see them reduce to 4.9. Nivvamind

pysifr

I just opened an account this morning from the Martin Lewis link. It was a but tedious setting up the account, but I suppose that is acceptable. But then problems. I always check things with small amounts, so I made a transfer of £1 and received an instant message "transfer successful" and £1 appeared in T212 account. Then within 30 - 60 seconds another message "transfer failed". But the £1 was still there. I repeated the process with the same results. I had a chat with a real person who told me I had made 4 transactions, 2 had failed and 2 were successful. He did not seem to understand that I had not made 4 transactions. All he could suggest was that I contact my bank and ask why the transactions failed. I looked at my normal bank - no evidence of failed transactions. Then I tried to move money back to my bank and after some help I managed to do this, but then a message said the money will take 3 days to transfer. The agent told me this 3 days was normal practice!  However when I looked in my bank account, the money was back! For me, if such transfers do take 3 days  then the account is no use for me.   . 

Growingold

I opened a Trad 212 Cash ISA  and did a bank transfer (faster payment).  It was there nearly instaneously.

booneruk

I've found that the openbanking truelayer method doesn't interface well with HSBC and noticed that it glitches out sometimes. I'd blame HSBC for that though, they're not renowned for their banking app. When it doesn't work I try again and it goes through (after force closing the HSBC app). Personally I don't worry about these 'failed transactions' - I mean, it's money from my account to another account of mine. What's the worst that can happen?

As for withdrawals, I'm pretty sure T212 have used the generic "up to 3 days" text in their pages.

Isarulesaretoocomplex

So open an account with them at 5.17 then they reduce it to 4.9 but then go on to offer a higher rate to new customers only...will probably do the same to those signing up now 

Andy7856

Growingold said:

I opened a Trad 212 Cash ISA  and did a bank transfer (faster payment).  It was there nearly instaneously.

Was that weekdays? I have found during weekdays its straight way, and weekends its the next business day... unless just I was unlucky?

sausage_time

Andy7856 said:

Growingold said:

I opened a Trad 212 Cash ISA  and did a bank transfer (faster payment).  It was there nearly instaneously.

Was that weekdays? I have found during weekdays its straight way, and weekends its the next business day... unless just I was unlucky?

Also my experience.  A transfer out last Sunday was next day.  A previous transfer out midweek was instantaneous.  My weekend one was a substantial amount which may possibly account for more checks. 

JohnB47

Isarulesaretoocomplex said:

So open an account with them at 5.17 then they reduce it to 4.9 but then go on to offer a higher rate to new customers only...will probably do the same to those signing up now 

Are you sure there isn't a reason for that? Did you open the account via one of the sites advertising the bonus interest? I believe the bonus rate is available only via those sites. Everyone else gets 4.9%.

Also, the bonus is fixed for a year but the underlying rate (4.9 currently) is variable. If that underlying rate was reduced, we'd all know about it - it wouldn't effect just you.

Malman2000

I am trying to open a T212 Cash ISA with funds from my Virgin Money account. When selecting Virgin Money via TrueLayer, it requests a 7-digit customer ID. These ID's do not exist with accounts having sort codes beginning 82. Virgin Money has not been able to help. Does anyone else have any experience with linking Virgin Money through TrueLayer?

Malman2000

Following my last post, I found this on the TrueLayer web site "If you are a Virgin Money customer with a 10-digit customer ID, or if you’re a customer of Clydesdale Bank or Yorkshire Bank, we regret to inform you that it’s not currently possible to connect your account to our Data API. We are actively working on implementing this functionality and appreciate your patience during this process" 
I now need to find another way to transfer my existing Virgin ISA's to T212