Trading212 Spending Pot

Dandytf

wiseonesomeofthetime said:

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.

What happens if pin is requested.

wiseonesomeofthetime

Dandytf said:

wiseonesomeofthetime said:

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.

What happens if pin is requested.

A PIN is never requested with a digital wallet, in my experience.

wmb194

wiseonesomeofthetime said:

Dandytf said:

wiseonesomeofthetime said:

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.

What happens if pin is requested.

A PIN is never requested with a digital wallet, in my experience.

Unless you set one up. My ApplePay requires a double click of the side button and FaceID/Phone PIN.

sausage_time

gt94sss2 said:

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.

I have used my card in a regular "card slot" ATM to withdraw cash.  I assume it reads the chip, which would not be contactless as such.  Interestingly it would not let me change my PIN (but you can do that in the app or on line).

gt94sss2

sausage_time said:

gt94sss2 said:

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.

I have used my card in a regular "card slot" ATM to withdraw cash.  I assume it reads the chip, which would not be contactless as such.  Interestingly it would not let me change my PIN (but you can do that in the app or on line).

Yes, the T212 card does not have a magnetic stripe so it won't work with ATMs which need them.

sausage_time

gt94sss2 said:

sausage_time said:

gt94sss2 said:

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.

I have used my card in a regular "card slot" ATM to withdraw cash.  I assume it reads the chip, which would not be contactless as such.  Interestingly it would not let me change my PIN (but you can do that in the app or on line).

Yes, the T212 card does not have a magnetic stripe so it won't work with ATMs which need them.

That's very few ATMs in the developed world. 

The earlier post was confusing because it said the T212 cards would only work on contactless ATMs.  But as I noted, I have used in a slot machine which almost certainly reads the chip via the contacts, and so is not contactless.  There are contactless ATMs that will work with contactless cards tapped on the reader, and the likes of Google Wallet.  In practical terms the T212 card should work in most ATMs in the developed world.

slinger2

sausage_time said:

gt94sss2 said:

sausage_time said:

gt94sss2 said:

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.

I have used my card in a regular "card slot" ATM to withdraw cash.  I assume it reads the chip, which would not be contactless as such.  Interestingly it would not let me change my PIN (but you can do that in the app or on line).

Yes, the T212 card does not have a magnetic stripe so it won't work with ATMs which need them.

That's very few ATMs in the developed world. 

The earlier post was confusing because it said the T212 cards would only work on contactless ATMs.  But as I noted, I have used in a slot machine which almost certainly reads the chip via the contacts, and so is not contactless.  There are contactless ATMs that will work with contactless cards tapped on the reader, and the likes of Google Wallet.  In practical terms the T212 card should work in most ATMs in the developed world.

That's rather contrary to my experience. I went into my high street Nationwide today and the machine wouldn't even feed the card in. I crossed the street to Santander. Their machine accepted the card and I was able to withdraw some cash.

sausage_time

slinger2 said:

sausage_time said:

gt94sss2 said:

sausage_time said:

gt94sss2 said:

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.

I have used my card in a regular "card slot" ATM to withdraw cash.  I assume it reads the chip, which would not be contactless as such.  Interestingly it would not let me change my PIN (but you can do that in the app or on line).

Yes, the T212 card does not have a magnetic stripe so it won't work with ATMs which need them.

That's very few ATMs in the developed world. 

The earlier post was confusing because it said the T212 cards would only work on contactless ATMs.  But as I noted, I have used in a slot machine which almost certainly reads the chip via the contacts, and so is not contactless.  There are contactless ATMs that will work with contactless cards tapped on the reader, and the likes of Google Wallet.  In practical terms the T212 card should work in most ATMs in the developed world.

That's rather contrary to my experience. I went into my high street Nationwide today and the machine wouldn't even feed the card in. I crossed the street to Santander. Their machine accepted the card and I was able to withdraw some cash.

Looking at the T212 community forums (fora?) I see some comments that imply older ATMs look for the presence of the mag stripe but actually use the chip for processing the transaction!  Given that the mag stripe is being obsoleted (see below) that seems like it will have to be fixed on those ATMs.  

https://www.mastercard.com/news/perspectives/2021/magnetic-stripe/

For reference I used a slot card reader ATM branded Waitrose and managed by Cashzone.

BarGin

I've just started using the account and card, looking good and no problems so far. Do any users have concerns with the qualifying money market funds risk? This is something new to me although I don't expect to be keeping significant funds there. I won't be investing at all.

slinger2

Personally it's not a worry for me. But then, I don't have that much uninvested cash in there. Currently £1-2k. Usually it's more than that. Total "interest" I've received is about £100 over a year or so. At 5% that says I've averaged about £2k.