Trading 212 - cash ISA and card

orange-juice

wmb194 said:

w00519773 said:

Further to my question here recently: Best cash ISAs: up to 5.2% easy access, up to 4.7% fixed - MSE (moneysavingexpert.com); I..

It’s not a bank, it’s a stockbroker.

 ..

Do you need to manually disinvest from the MMF to be able to spend on the card? Or is it smart enough to liquidate the units to cover a transaction in real time ?

gravel_2

You can't disinvest from MMFs manually, you have to disabling the card and interest earning feature if you want out of MMF. Payment requires nothing more than tapping your card.

slinger2

orange-juice said:

wmb194 said:

w00519773 said:

Further to my question here recently: Best cash ISAs: up to 5.2% easy access, up to 4.7% fixed - MSE (moneysavingexpert.com); I..

It’s not a bank, it’s a stockbroker.

 ..

Do you need to manually disinvest from the MMF to be able to spend on the card? Or is it smart enough to liquidate the units to cover a transaction in real time ?

No. It's all done behind the scenes. For foreign currency it'll use that currency if you have enough of it, otherwise it'll convert some pounds. Not sure of the exact details there. The cashback seems to get converted into pounds, even if you pay in any another currency. All very complicated.

gascar

I have ISA accounts with several institutions, including Trading 212.

For most people, T212 isn't good at all.

I day-trade in it, That means buying and selling stocks/ETP/Fs several times a day. It's ok for that. It's not at all unusual to make 10 - 20% per day with the leveraged ETP's to which it gives access.

You ponly have a narrow window - the ETPs are London based but the base stocks, NVDA or MSTR or whatever, are on the US exchange. That means keeping them past 4:30 (London close) is a lottery.

But if you want a wide range of funds, so you can get a lood return over time, forget Trading212. There are no OEICs (afaik) , and no long list of funds as offered at say Hargreaves Lansdown, much less Fidelity. T212 is cheap, yes, but you don't even get any form of scanner.

So if you wanted Jupiter India say (50% up in a year) (blue) it's not there, neither is anything like it. H & L have bonds like Man GLG sterling Corporate (Purple) which has returned 26% in the last year in a pretty smooth progress, no nasty dips like the S & P 500.(grey)

The 5.2% savings rate isn't guaranteed. You get SOME at H&L, 3% odd I think on univested cash,, but you can put your money in the Money Market (eg Royal London CSH2 or L&G Cash green) and get near enough the same.

No charting like this at T212:

Regarding Japan and the REIT tracker, things like that are useful if you want something moving up about NOW. None quite the same at T212.

H&L does take about 3 days to switch from one fund to another. It's quicker to get in if you leave a % of your pot uninvested, and yes their fees are higher than for example Invest Engine, though you can't use stocks at IE whereas you can, including leveraged ones, at HL. (search on ETFs and type Leveraged).

Customer support isn't comparable.

Would you like to speak to someone with great English, instantly, who is knowledgeable and helpful, or send a "Chat" or email which is going to take hours and come from someone who has none of those attributes?

wmb194

gascar said:

I have ISA accounts with several institutions, including Trading 212.

For most people, T212 isn't good at all.

I day-trade in it, That means buying and selling stocks/ETP/Fs several times a day. It's ok for that. It's not at all unusual to make 10 - 20% per day with the leveraged ETP's to which it gives access.

You ponly have a narrow window - the ETPs are London based but the base stocks, NVDA or MSTR or whatever, are on the US exchange. That means keeping them past 4:30 (London close) is a lottery.

But if you want a wide range of funds, so you can get a lood return over time, forget Trading212. There are no OEICs (afaik) , and no long list of funds as offered at say Hargreaves Lansdown, much less Fidelity. T212 is cheap, yes, but you don't even get any form of scanner.

So if you wanted Jupiter India say (50% up in a year) (blue) it's not there, neither is anything like it. H & L have bonds like Man GLG sterling Corporate (Purple) which has returned 26% in the last year in a pretty smooth progress, no nasty dips like the S & P 500.(grey)

The 5.2% savings rate isn't guaranteed. You get SOME at H&L, 3% odd I think on univested cash,, but you can put your money in the Money Market (eg Royal London CSH2 or L&G Cash green) and get near enough the same.

No charting like this at T212:

Regarding Japan and the REIT tracker, things like that are useful if you want something moving up about NOW. None quite the same at T212.

H&L does take about 3 days to switch from one fund to another. It's quicker to get in if you leave a % of your pot uninvested, and yes their fees are higher than for example Invest Engine, though you can't use stocks at IE whereas you can, including leveraged ones, at HL. (search on ETFs and type Leveraged).

Customer support isn't comparable.

Would you like to speak to someone with great English, instantly, who is knowledgeable and helpful, or send a "Chat" or email which is going to take hours and come from someone who has none of those attributes?

On your specific point, it offers quite a few India related ETFs and Investment Trusts and in general a wide range of ETFs and Investment Trusts. They'll cover many of the OEIC bases but just use another broker/platform for OEICs. I'd prefer iWeb over HL for its lower fees.

You shouldn't be relying on a stockbroker for charting or scanners and there are lots of good third party resources for that e.g., TradingView. Most of what brokers offer is just for basic convenience and it's sourced from third parties...

orange-juice

I was going to use my T212 Card yesterday and went to deposit some funds in, not realising the bank transfer method takes 2-3 business days to apply into my card

Does anyone know if the cashback still applies if you use Curve and the go back in time feature, to change the payment onto the T212 card?

Edit: cashback paid after using the gbit feature to reassign some transactions to T212.

slinger2

orange-juice said:

I was going to use my T212 Card yesterday and went to deposit some funds in, not realising the bank transfer method takes 2-3 business days to apply into my card

Does anyone know if the cashback still applies if you use Curve and the go back in time feature, to change the payment onto the T212 card?

Use the "instant bank transfer" feature in T212 to deposit funds. It's "instant".

qbadger

Is the T212 card a business debit card? I seems to remember seeing such a message when I added the card to Curve.

gt94sss2

qbadger said:

Is the T212 card a business debit card? I seems to remember seeing such a message when I added the card to Curve.

No, it is a personal debit card

w00519773

Thanks.  I assume there are no inactivity fees (Is there an inactivity fee? – Trading 212) and I can cancel the investment account at any time  with no penalties.

Also if I want to transfer my stocks ISA from another provider later this tax year, then I assume I can do that (after I have opened the non ISA Invest account)?