Trading212 Transactions

RoadToAMillion

Hello,

Has anyone had any issues with Trading212 transactions from their bank accounts being flagged as gambling or betting transactions by lenders when viewing bank statements as part of an application? In particular here, a mortgage application.

Thanks.

eskbanker

It's an issue to discuss with your lender rather than other T212 customers to be honest - Trading212's heritage was in highly risky CFD trading, which predated their entry into more mainstream regulated products such as ISAs, so it's understandable that a lender may have concerns if they have no visibility of what the money was ultimately used for, but you can presumably demonstrate via statements, etc, that it wasn't the risky CFD stuff?

Bigwheels1111

No, never.

Only used FD bank.

Hoenir

Investing generally doesn't involve a high number of transactions through a personal bank account. What's caused your activity to be flagged as an issue? 

RoadToAMillion

eskbanker said:

It's an issue to discuss with your lender rather than other T212 customers to be honest - Trading212's heritage was in highly risky CFD trading, which predated their entry into more mainstream regulated products such as ISAs, so it's understandable that a lender may have concerns if they have no visibility of what the money was ultimately used for, but you can presumably demonstrate via statements, etc, that it wasn't the risky CFD stuff?

I could indeed, but it’s just getting to the point I can have a conversation with a human rather than their algorithm… Thanks for the reply 

RoadToAMillion

Hoenir said:

Investing generally doesn't involve a high number of transactions through a personal bank account. What's caused your activity to be flagged as an issue? 

There are monthly deposits into my investment accounts.