Trading 212 Cash ISA - Promo Code?

Ponchos

winkowinko said:

Can newbies open a T212 account (to get the enhanced rate) but have the balance at zero?

I've maxed out my ISA limit this year, but have been eyeing up T212 for some time now, in preparation for April. Would be nice to lock in this 0.15% bonus rate whilst it's available, even if I can't add anything to it yet.

As mentioned in my post aboce, I opened my account in December when the rates of all ISAs were falling, and most of them were showing a bonus rate which would drop in the near future. At the time, Moneybox was higher than T212 but was dropping to 4.92% two weeks later, so I went with T212 as it seems more flexible for me.

My point is that this rate is likely only a short term offer to gain new customers and will likely drop after X amount of time, it won't be locked in long term. When I join in December, the interest was paid daily, but a few weeks ago they've switched it to monthly (shows daily accumulation, but will only be added monthly). These accounts are flexible and liable to change, so even if you were to get this rate of 5.05% now, you likley wouldnt be getting it by the time the new tax year rolls around and you can fund it, unfortunately.

gravel_2

Ponchos said:

winkowinko said:

Can newbies open a T212 account (to get the enhanced rate) but have the balance at zero?

I've maxed out my ISA limit this year, but have been eyeing up T212 for some time now, in preparation for April. Would be nice to lock in this 0.15% bonus rate whilst it's available, even if I can't add anything to it yet.

As mentioned in my post aboce, I opened my account in December when the rates of all ISAs were falling, and most of them were showing a bonus rate which would drop in the near future. At the time, Moneybox was higher than T212 but was dropping to 4.92% two weeks later, so I went with T212 as it seems more flexible for me.

My point is that this rate is likely only a short term offer to gain new customers and will likely drop after X amount of time, it won't be locked in long term. When I join in December, the interest was paid daily, but a few weeks ago they've switched it to monthly (shows daily accumulation, but will only be added monthly). These accounts are flexible and liable to change, so even if you were to get this rate of 5.05% now, you likley wouldnt be getting it by the time the new tax year rolls around and you can fund it, unfortunately.

This is true BUT the promo rate is fixed and valid for 12 months. On the assumption that T212 continues to seek to be competitive with their basic interest rate (they have done so so far but I suppose we've all seen other firms start competitive then fall off) then securing the bonus is still worthwhile.

dcs34

Ponchos said:

dcs34 said:

And once again I open it the week before the promo! Same with Tembo and their cashback offer...

I guess it sometimes pays to be un-proactive!

My understanding is that you have 10 days from opening the account to enter a promo code to get the benefits from it. I've seen this online for a couple of codes that give a free share, but if the code for this is "MSE" and you opened the account last week (or if someone has missed using the code, such as the OP) then try entering this code on your account (open app, three lines in the bottom right, then Promo Code is an option there). I can't guarantee this works but worth a try I reckon. I opened my account in December when the rate was 4.9% so I'm a bit miffed it is now 5.05% and I can't get that rate!

I did try but sadly a message popped up saying not eligible (or words to that effect). Never mind!

winkowinko

gravel_2 said:

Ponchos said:

winkowinko said:

Can newbies open a T212 account (to get the enhanced rate) but have the balance at zero?

I've maxed out my ISA limit this year, but have been eyeing up T212 for some time now, in preparation for April. Would be nice to lock in this 0.15% bonus rate whilst it's available, even if I can't add anything to it yet.

As mentioned in my post aboce, I opened my account in December when the rates of all ISAs were falling, and most of them were showing a bonus rate which would drop in the near future. At the time, Moneybox was higher than T212 but was dropping to 4.92% two weeks later, so I went with T212 as it seems more flexible for me.

My point is that this rate is likely only a short term offer to gain new customers and will likely drop after X amount of time, it won't be locked in long term. When I join in December, the interest was paid daily, but a few weeks ago they've switched it to monthly (shows daily accumulation, but will only be added monthly). These accounts are flexible and liable to change, so even if you were to get this rate of 5.05% now, you likley wouldnt be getting it by the time the new tax year rolls around and you can fund it, unfortunately.

This is true BUT the promo rate is fixed and valid for 12 months. On the assumption that T212 continues to seek to be competitive with their basic interest rate (they have done so so far but I suppose we've all seen other firms start competitive then fall off) then securing the bonus is still worthwhile.

Exactly. The 0.15% bonus is fixed for 12 months. 

I would be happy to secure the bonus now, even if it meant that I couldn't add to it until 6th April. However, as I'm already maxed out for this year, the minimum £1 deposit would put me over the £20k limit.

winkowinko

looking at the t's & c's, I found this...

The present campaign is active for the following time period: 14/01/2025 - 31/01/2025. You must open your account during that time to be eligible for the bonus rates.

Ponchos

Ah I didn't realise it was locked in for a year, I'm even more miffed I've missed out on a bonus now! I bet it's not even worth messaging and asking for the offer! Don't ask, don't get, but still dont see it happening!

Ponchos

winkowinko said:

gravel_2 said:

Ponchos said:

winkowinko said:

Can newbies open a T212 account (to get the enhanced rate) but have the balance at zero?

I've maxed out my ISA limit this year, but have been eyeing up T212 for some time now, in preparation for April. Would be nice to lock in this 0.15% bonus rate whilst it's available, even if I can't add anything to it yet.

As mentioned in my post aboce, I opened my account in December when the rates of all ISAs were falling, and most of them were showing a bonus rate which would drop in the near future. At the time, Moneybox was higher than T212 but was dropping to 4.92% two weeks later, so I went with T212 as it seems more flexible for me.

My point is that this rate is likely only a short term offer to gain new customers and will likely drop after X amount of time, it won't be locked in long term. When I join in December, the interest was paid daily, but a few weeks ago they've switched it to monthly (shows daily accumulation, but will only be added monthly). These accounts are flexible and liable to change, so even if you were to get this rate of 5.05% now, you likley wouldnt be getting it by the time the new tax year rolls around and you can fund it, unfortunately.

This is true BUT the promo rate is fixed and valid for 12 months. On the assumption that T212 continues to seek to be competitive with their basic interest rate (they have done so so far but I suppose we've all seen other firms start competitive then fall off) then securing the bonus is still worthwhile.

Exactly. The 0.15% bonus is fixed for 12 months. 

I would be happy to secure the bonus now, even if it meant that I couldn't add to it until 6th April. However, as I'm already maxed out for this year, the minimum £1 deposit would put me over the £20k limit.

Could you transfer your existing ISA to T212 to get the higher rate? Or withdraw £10 from your current ISA (providing it isn't a fixed ISA) to then open a T212 ISA with that £10, then you would have just redistributed your allocation.

winkowinko

@Ponchos it's fixed until August unfortunately, although it's with Kent Reliance who allow you to add to it throughout the term, so I could add to it on the 6th April and secure the current 4.91% on new money for 4 months.. 

Ideally I'm looking for a flexible ISA though as I will need to make withdrawals.

Ponchos

winkowinko said:

@Ponchos it's fixed until August unfortunately, although it's with Kent Reliance who allow you to add to it throughout the term, so I could add to it on the 6th April and secure the current 4.91% on new money for 4 months.. 

Ideally I'm looking for a flexible ISA though as I will need to make withdrawals.

That's a shame. However the T212 rate was higher than the current 4.9% in November and December, and theyre happy to compete with Moneybox and Plum (I have a non-ISA account with Money box and the app itself is good, I just preferred the T212 ISA for how often you can withdraw if needed, though I've heard from several users on these forums that Plum have loads of problems), so whether you manage to get involved with this current offer or not, my guess is that there will be others coming over the next few months. Hopefully the rates go up in generaly as well, so my being miffed can disappear!

Ponchos

While we're on the subject of sign up offers and different accounts does anyone know if the offers are for new users or new accounts? I currently have a cash ISA but if i was to open a S&S ISA, would I be eligible for one of the "free share" offers that are often available? Just wondering.