T212 cash ISA interest going to 4.50% from 01-MAR-2025

jsharris99

seems like a bit of a drop 4.9 to 4.5 being a .40 drop not 0.25. Maybe it was to do with future interest pricing. It is still much better than the old nationwide isa rate. Is cash within the stocks and shares isa still covered by the fscs guarantee ? 

toothdoctor

jsharris99 said:

seems like a bit of a drop 4.9 to 4.5 being a .40 drop not 0.25. Maybe it was to do with future interest pricing. It is still much better than the old nationwide isa rate. Is cash within the stocks and shares isa still covered by the fscs guarantee ? 

No it's not. The uninvested cash in the s&s isa is mainly held in qualifying money market funds (QMMFs) which, although are low risk, they are not no risk. QMMFs are not covered by the 85k protection 

Idpullthecurtain

I just transferred mine from Moneybox to 212 last week.  And now it ends up lower!

Iconoclast

The email doesn’t indicate when exactly the reduction will take effect. My app is still showing 4.90% AER after I deposited some more funds this morning.

Anyone know when the change will take effect?

UPDATE: Never mind, just read the thread title, LOL. Haven’t seen it confirmed anywhere though?

JohnB47

Iconoclast said:

The email doesn’t indicate when exactly the reduction will take effect. My app is still showing 4.90% AER after I deposited some more funds this morning.

Anyone know when the change will take effect?

This is from the email I received:

"Due to the Bank of England’s recent interest rate cut, as of 01.03.2025 Trading 212's GBP interest rate changes as follows:

Trading 212 Cash ISA: 4.5% variable

Trading 212 Stocks ISA: 4.6% variable

Trading 212 Invest: 4.6% variable

Trading 212 CFD: 4.6% variable"

kimwp

techno12 said:

Their S&S ISA is dropping to 4.6% on the same date, so I'll move the chunk that I have in their Cash ISA over to that..

Note that (from memory) cash in the S&S isn't stored/protected in the same way as in the cash ISA 

Ayr_Rage

kimwp said:

techno12 said:

Their S&S ISA is dropping to 4.6% on the same date, so I'll move the chunk that I have in their Cash ISA over to that..

Note that (from memory) cash in the S&S isn't stored/protected in the same way as in the cash ISA 

As advised 4 posts ago by @toothdoctor !

savvysavings2024

Iconoclast said:

The email doesn’t indicate when exactly the reduction will take effect. My app is still showing 4.90% AER after I deposited some more funds this morning.

Anyone know when the change will take effect?

UPDATE: Never mind, just read the thread title, LOL. Haven’t seen it confirmed anywhere though?

Both the email I got about my ISA and the email my husband got about his (both with T212) stated the reduction would be effective from 01/03/25.

savvysavings2024

poseidon1 said:

frosch411 said:

Not per se surprising but still gutted, T212 follows the trend after the recent BoE rate drop.

Cash ISA rate dropping to 4.50% from 01-MAR-2025; only spotted this today in the app/online, no email or other notification received yet.

  

Thanks for the heads up!

I had recently opened the T212 cash isa specifically for the 4.90 % rate, with a view to transferring substantial maturity monies soon to arise from a Charter Savings Bank fixed isa.

However Charter Savings currently offer 4.46% instant access paid monthly  ( 4.55% annually) so have decided to leave the maturity monies with them given T212 can only offer a marginal improvement next month on a monthly pay out basis.

I probably would not have noticed this banner announcement on T212's  app, so your 'eagle vision' appreciated.

I would imagine in the next few days you might get an email from Charter Savings informing you that they're dropping their interest rate as well.

The first email I got following the BofE cutting interest rates was from Virgin Money in respect of them reducing their interest rate on their normal savings account following the BofE cut; next was 1st Direct informing me the same on their normal savings account (have both accounts tied to current accounts but no funds in either); then yesterday I got emails from both T212 as per the OP, and Ulster Savings reducing from 4.50% to 4.25% on its instant access savings account for savings over 5k effective from 23rd April. 

Later yesterday I got another email from Raisin (downloaded the app a while back and completed the registration but didn't transfer funds in as found better interest rates elsewhere).

So I'd imagine they'll all be reducing - Moneybox is still being flagged as it's current rate on main stream media articles, but has also sent notifications that they're reducing as someone's mentioned. I can't see any staying the same except fixed term accounts until the end of the term.  But you never know. I'm going to wait a few weeks, then look at which are paying the best interest and transfer if any are beating T212 (for my ISAS) and Ulster (the rest of my savings).

Robster88

Hello. 

According to the MSE site, then if you opened a Trading212 Cash ISA as a new customer today, you'd receive 4.9% variable interest, with a 0.13% interest boost, taking you to 5.03% overall. 

It says however, that if you open it after the 1st of March, you would receive 4.5% variable interest, but with a 0.53% interest boost, also meaning you end up with 5.03%

As we know the variable interest rate is dropping to 4.5%, surely it is better to wait until after the 1st of March to open the account, so you get a higher fixed 0.53% boost, unless I'm completely misunderstanding something?