Trading212 - Rate reduced to 4.90% from 30/11/2024

dont_use_vistaprint

Yeah, I got the bad news today as well.

I see there is still another offering 5.18 and with the new rules you can have any number of ISA accounts so do you think it’s worth snapping that up now and initiating a transfer? 

dont_use_vistaprint

sammy_zammy said:

iwant2asave said:

I'm wondering if it's worth switching to Plum or Moneybox or whether those going to follow soon after..

To add to the above reply, the 1.39% bonus for the Plum ISA only applies to new balances - an ISA transferred from elsewhere doesn’t get it, so the rate is 3.79%.

sammy_zammy said:

iwant2asave said:

I'm wondering if it's worth switching to Plum or Moneybox or whether those going to follow soon after..

To add to the above reply, the 1.39% bonus for the Plum ISA only applies to new balances - an ISA transferred from elsewhere doesn’t get it, so the rate is 3.79%.

Oh, you just answered my question. It is not worth transferring.

Iconoclast

BigBear68 said:

I only just opened a 212 account at the beginning of this month so this is slightly disappointing but not surprising news, with the interest rates dropping on most saving platforms at what point would it be more prudent to put spare money into a pension pot as opposed to savings accounts ?.

In my humble opinion it would be appropriate to do that anyway. Despite cash ISAs having a generally poor rate of return (compared with stocks ISAs for example), I followed advice to keep a small amount of funds in an easy access cash ISA, purely to act as a financial buffer that I could easily dip into should I receive an unexpectedly high bill or some other emergency home improvement /repair that I would be forced to pay. 

Otherwise I make a regular monthly contributions into my pension pot along with the salary and employer portions that my employer pays for me.

The interest paid to the cash ISA buffer is of course very helpful 😉 but the priority would be for the pension pot to grow or other serious savings measures.

sammy_zammy

dont_use_vistaprint said:

sammy_zammy said:

iwant2asave said:

I'm wondering if it's worth switching to Plum or Moneybox or whether those going to follow soon after..

To add to the above reply, the 1.39% bonus for the Plum ISA only applies to new balances - an ISA transferred from elsewhere doesn’t get it, so the rate is 3.79%.

sammy_zammy said:

iwant2asave said:

I'm wondering if it's worth switching to Plum or Moneybox or whether those going to follow soon after..

To add to the above reply, the 1.39% bonus for the Plum ISA only applies to new balances - an ISA transferred from elsewhere doesn’t get it, so the rate is 3.79%.

Oh, you just answered my question. It is not worth transferring.

You can still do Moneybox and get the full amount on a transfer, although by the time the transfer completes I would imagine the rate will have gone down anyway.