Trading212 Spending Pot

BarGin

Thanks all. It looks like it will be useful to me.

sausage_time

Seems a bit pointless to me.  I moved my entire balance to my "Spending Pot".

Magstar1001

sausage_time said:

Seems a bit pointless to me.  I moved my entire balance to my "Spending Pot".

Totally agree, absolutely pointless. Wish It was optional 
Just made it more hassle 

wmb194

sausage_time said:

Seems a bit pointless to me.  I moved my entire balance to my "Spending Pot".

I guess it depends on the size of your balance but I think it's a good idea to be able to limit the amount someone can pinch via your debit card. Up to now I've been constantly freezing and unfreezing (defrosting?) my card in ApplePay so I quite like that I can now leave a small amount ringfenced just for the card.

slinger2

I think there's some logic in it, but I'm not sure why it's been made mandatory. Of course a lot depends on how much "spending" you do and how much "trading".

Deposits/withdrawals only seem to work from the main pot, so it's a two stage process to get it to/from the spending pot from/to your bank account.

Anyway, at the moment I can live with it and will keep using the card. We'll see what changes they make in the future.

wmb194

slinger2 said:

I think there's some logic in it, but I'm not sure why it's been made mandatory. Of course a lot depends on how much "spending" you do and how much "trading".

Deposits/withdrawals only seem to work from the main pot, so it's a two stage process to get it to/from the spending pot from/to your bank account.

Anyway, at the moment I can live with it and will keep using the card. We'll see what changes they make in the future.

I'm guessing it's mandatory to make sure that by default the spending pot is set to zero. If it reduces the risk of card fraud resulting in my large cash balance disappearing I'm okay with it.

sausage_time

I wonder if they will pay different interest on the pots in the future?  I can see lower for the Spending Pot in the future.

Dandytf

wmb194 said:

Voyager2002 said:

They promote the debit card as being good for travel, since there is no foreign currency loading. Note, however, that there is a hefty delivery fee for the physical card, while the virtual card has no PIN.

I use my virtual card via ApplePay. It works well.

I wasn’t sure if it would work, thanks AP it is then.

wiseonesomeofthetime

Virtual card with Google Wallet worked just like any other card this morning. Test purchase at Morrisons.

Don't forget to enable the 4.6% interest, if you want it.

Thanks to another poster kindly pointing me in the direction of the hamburger menu, I discovered it is not enabled automatically.

gt94sss2

slinger2 said:

BarGin said:

Can you just put money in the spending pot, earn interest on it and spend it with the debit card?
Do they allow recurring card payments?

1. That's exactly what it is. 0.5% cashback too (on qualifying spending). I've found it reliable for spending but not had so much luck in ATMs.

The 212 Card can only be used with contactless ATM machines. You won’t be able to withdraw funds by inserting your card into the ATM due to the lack of a magnetic stripe.