Trading 212 App Transfers

dprice8893

Does anybody else have problems with their bank holding back transactions paying money into T212?
After recently opening the above cash ISA account, trying to feed it via their App has been really problematic. My current account is with First Direct and although smaller deposits go through without problems, several amounts over £900 have been held back for checks.
I understand the need, but having to call your bank, go through the security system, speak to the fraud dept starts to become tiresome.
You would think that when you've spoken to them once, they would let future transactions process automatically. I've never had this problem before.

sausage_time

No issue with RBS (8 transfers on various dates up to 20k ISA limit, largest was £2500).  Are you using the Open Banking transfer method?

Mark_d

I've had issues with Trading 212.  I think they're seen as an international bank.  I have since closed my account with them.

dprice8893

sausage_time said:

No issue with RBS (8 transfers on various dates up to 20k ISA limit, largest was £2500).  Are you using the Open Banking transfer method?

Yes, I use the recommended method in the app. If it succeeds the transaction is almost instant and T212 message and credit. If it's held, it shows as a withdrawal in the FD app. I then have to wait to be contacted by FD fraud dept, go through the same checks and receive the same advice. It's not even though you're inputting account numbers etc every transaction. Apart from the amount it's automated.

wmb194

dprice8893 said:

Does anybody else have problems with their bank holding back transactions paying money into T212?
After recently opening the above cash ISA account, trying to feed it via their App has been really problematic. My current account is with First Direct and although smaller deposits go through without problems, several amounts over £900 have been held back for checks.
I understand the need, but having to call your bank, go through the security system, speak to the fraud dept starts to become tiresome.
You would think that when you've spoken to them once, they would let future transactions process automatically. I've never had this problem before.

Using debit cards and the, "instant bank transfer" option via open banking I’ve had absolutely no problems with Halifax and Lloyds and for amounts far larger than £900. You’re not the first poster to say they’ve had problems making transfers to T212 from HSBC/FD.

sausage_time

There's this thread with challenges using HSBC with Trading 212:

https://forums.moneysavingexpert.com/discussion/6548982/trading-212-hsbc-say-it-is-a-scam/

Given FD is part of HSBC, this may be relevant?  Apart from trying a different payment account and/or method, I can't think of an alternative.  If your payments are infrequent you can just to go with it?

dprice8893

Yes it's obvious that FD/HSBC are a bit sensitive where Trading 212 are concerned. Probably the backlash from all the fines and criticism with regard to their lax practices on money laundering/fraud.