Trading 212 Cash ISA

Pixiep_2

Opened a new T212 Cash ISA to transfer into. I was 73rd in the 'queue' and kept being reminded to add funds to receive 5.03%.   I was waiting for the transfer to be administered by them.  Finally the transfer was done and they advise me now that my interest rate is 4.5% only.   I missed the deadline through no fault of my own. Has anyone else experienced this? 

slinger2

"deadline"? Are you talking about the 10 days you have after opening the account?

wmb194

Pixiep_2 said:

Opened a new T212 Cash ISA to transfer into. I was 73rd in the 'queue' and kept being reminded to add funds to receive 5.03%.   I was waiting for the transfer to be administered by them.  Finally the transfer was done and they advise me now that my interest rate is 4.5% only.   I missed the deadline through no fault of my own. Has anyone else experienced this? 

Have you tried entering the MSE promo code? There are other threads which mention this. I might be misremembering but I think it’s, “MSE”.

sammy_zammy

According to the Ts&Cs, you have 10 days to initiate a transfer from another provider. 

https://www.trading212.com/legal-documentation/uk/cash-isa/Promotional-Terms_EN.pdf

Are you sure it’s not just being based on the balance yesterday and will be updated tomorrow or Monday?

JohnB47

Bear in mind that the variable part of the ISA interest was dropped by 0.4% on 1st March, even for those who opened a Trading 212 account and funded it before then. My account started at 5.12% and is now 4.72%. Also, their advertised interest rates seem to change by the day, so your starting and final interest rates will not necessarily match that of others.

Try talking to Trading 212 via their chat system. I did this when I was worried that a transfer-in of a full years contributions wouldn't happen within the 10 days. The guy said, never mind, just call us when the money arrives and we can adjust the interest rate manually - we're used to funds being slow to transfer. It's worth a try.