Trading 212 Cash ISA

BigBear68

TheBanker said:

BigBear68 said:

TheBanker said:

BigBear68 said:

TheBanker said:

I've had no problems using the system to transfer funds from Santander and Natwest. I did a transfer from Santander this morning in fact.

You should be asked how much you want to transfer in the Trading 212 app, before you are sent to the other bank to select the account and go through their security steps.

At what stage do you see the question regarding amount ?, when I tap on Instant Bank Transfer I get a connect bank account screen then the choose bank screen where you connect to your bank, I see nowhere to enter amount before connecting to my bank.

Are you using the app or the website? I use the app on my phone.

When I press deposit funds, it asks me to choose which bank/account to take the funds from (Santander or Natwest, which are the two I've set up). I can also choose to connect a new account. 

When I choose the account, I get a screen asking for the amount. It defaults to £1,000 but there is a slider bar that you can drag to increase or decrease it. Then a button that says Pay.

Pressing Pay takes me to the a screen with a 'Go to bank' button. Pressing that opens the bank's app for me to log in and authorise the payment. And that's it - my bank app confirms the payment has been made, and sends me back to Trading212. 

If it's a new account you have to go through the Connect Account routine first, then you can go through the steps above to make the deposit. 

When you save your other bank details are these used for bank transfer opposed to instant bank transfer ?. I have now saved both Virgin and Santander details but they are under bank transfer.

They are under instant bank transfer.

If you're having trouble it might be linked to Virgin's issues today. Have you got a different account you can try, even if just to move £1 to test it?

Following your steps I finally set it up with my current account and transferred £10 last night just to get the ball rolling,this morning I closed my Virgin account and moved the funds to my current account and then into my Trading ISA.

Thank you for your advice and patience,I'm sure I would still be stuck without your helpful guidance.

winkowinko

What i've learned from this forum is that come April when I'll be looking to open a new easy access ISA, is to open a Trading212 one with only a few quid in it rather than transferring a lump sum. That way I can get to grips with depositing/withdrawing to and from the account, before committing to larger amounts.

Aidanmc

winkowinko said:

What i've learned from this forum is that come April when I'll be looking to open a new easy access ISA, is to open a Trading212 one with only a few quid in it rather than transferring a lump sum. That way I can get to grips with depositing/withdrawing to and from the account, before committing to larger amounts.

You also could open an Invest (non-ISA) account with them now, getting a free share up to £100 by using a referral.

Min deposit 1£

Get to grips wth that.

You can open the cash ISA later ( easy when your already a customer)

VWMoney1

Hi,
I set up a transfer from my Santander Cash ISA to a cash ISA in Trading 212. I sent £2,000 to test the water and it has now taken all the funds from my Santander cash ISA and the account is not longer visible in my Santander app.
In my trading 212 app the Total shows the full amount of money and below states: Reserved £2,000.
How have they moved all my money without authorisation?
Am I getting interest on full amount or just the 2k?
Any advise would be appreciated.
Thank you

Aidanmc

VWMoney1 said:

Hi,
I set up a transfer from my Santander Cash ISA to a cash ISA in Trading 212. I sent £2,000 to test the water and it has now taken all the funds from my Santander cash ISA and the account is not longer visible in my Santander app.
In my trading 212 app the Total shows the full amount of money and below states: Reserved £2,000.
How have they moved all my money without authorisation?
Am I getting interest on full amount or just the 2k?
Any advise would be appreciated.
Thank you

Can't help you i'm afraid but Czure had a similar experience recently...details in thread

https://forums.moneysavingexpert.com/discussion/6535721/mse-misleading-on-trading212-isa#latest

Czure

VWMoney1 said:

Hi,
I set up a transfer from my Santander Cash ISA to a cash ISA in Trading 212. I sent £2,000 to test the water and it has now taken all the funds from my Santander cash ISA and the account is not longer visible in my Santander app.
In my trading 212 app the Total shows the full amount of money and below states: Reserved £2,000.
How have they moved all my money without authorisation?
Am I getting interest on full amount or just the 2k?
Any advise would be appreciated.
Thank you

Don't worry about the 'Reserved' tag it's just until they've confirmed your current remaining allowance for this year & it makes interest along with the rest of your money that was transferred. It can also be accessed for transfer and/or withdrawal if needed.

As for the seemingly dodgy emptying of previous ISA's.
 My instruction to T212 was to take all of my money from my previous years but only the actual exact amount I'd paid in from this years allowance which should've left the interest earned on this years money still in my Coventry ISA.

I discovered my Coventry ISA had been closed however & on speaking to them was told that T212 had taken what I'd instructed but then took my interest in a separate transaction which emptied the Coventry causing it to close.

Despite this T212 only shows 2 transactions in, one for the correct amount I stated from this years allowance but the other amount for my previous years savings is more than it should've been because it includes all of my interest, even that made on this years contributions which I understood should not have been lumped in with my previous years interest.

I did suspect Coventry of deliberately adding all of the interest to my previous years savings instead of splitting it however I may have slipped up & that may be how it works in which case it's my daft fault for not checking, but I can't help feeling that T212 may be deliberately closing ISA's with old providers when I see posts like this.

I'm annoyed my instructions don't seem to have been carried out correctly but I'm not faffing around to reverse it as the Coventry agent said I could do by contacting T212 & asking them to return the whole amount to Coventry which would reinstate my ISA with them, before then starting the process all over again which would lead to loss of interest during the transition, & my money is all there & making interest in T212 but I do worry they could be using bad practices.

If anyone can confirm that all the interest should've been lumped in with the previous years & not had the interest earned from this years contributions separated that would clarify the matter & vindicate both Coventry & T212.

SAC2334

I ve just opened an account with Trading 212 and tested it by transferring £10 which arrived instantly . I only can find a cust ID and cash account ID on the app via the settings  but so far have not found an account number and sort code .

So is this system set up to only visit Trading 212 to either fund or withdraw as I can t set them up with my Santander current account as a payee without account/sort code .

slinger2

I've only ever done deposits/withdrawals through the T212 app.

Someone does give generic account details here:

https://forums.moneysavingexpert.com/discussion/6543555/trading-212-2fa/p6

You'd have to put your account number into the appropriate field to point to your own personal account. Never tried it and can't confirm that it works.