Trading212 1.5% cashback on spending

jbrassy

wiseonesomeofthetime said:

wmb194 said:

wiseonesomeofthetime said:

Not worth the effort for me then imo.

The little money I do make would probably get swallowed up by fees, thereby no true 1.5% return.

Placed on the CBA pile.

What fees?

Are you telling me that you can invest with Trading212 for free?

First platform I have come across if that is the case.

Yes Trading 212 do not charge platform fees. Neither do Invest Engine for what it's worth.

Trading 212 cashback isn't life changing (at the usual 0.5%), but it's a good backup to Amex in my opinion.

slinger2

Spent £100 this morning (shopping+petrol) so that'll be £1.50 cashback instead of £0.50.

As has been said, the sums are very small. You wonder if it's worth the bother. I suppose Trading212 must think it worth it for them, otherwise they wouldn't do it.

SFCooper

No offer here

jbrassy

Just an update, I opened the T212 app this morning and a pop up appeared asking if I wanted to opt into the 1.5% cashback. I obviously did, but the offer ends in early July (can't remember the exact date). The only catch is you have to turn on the option to auto invest your cashback (which I already do anyway).

I personally invest my cashback and round ups in the Amundi Smart Overnight Return GBP Hedged (Acc) as its the closest thing you can get to an interest paying savings account and it's very low risk. 

jbrassy

Another update: T212 have also updated their T&Cs to say that you can only earn a maximum of £15 per month in cashback. Not a big deal to me as I only use it as a backup to Amex, but something to bear in mind.

slinger2

My end-date for this promotion has been changed from 28 June to 5 July. Also got the email about the cashback cap being reduced to £15/month from 5 June. Even at 1.5% I'm unlikely to reached that total either.

PropertyGuru_Wannabe

Don't forget you also get 4.6% interest paid daily on the Invest account.  Not as good as Chase's 4.8% but nothing to scoff about.  Purchased a family flight abroad and it's given me £15 cashback and with no restrictions put up such as Chase, it really is a no brainer.

slinger2

The only downside is that your uninvested cash in the Invest account might well be in QMMFs and so not protected as well as money in other savings accounts. I've got a few k in the Invest account and their S&S ISA, and I'm not too concerned about this.