Trading212 cash ISA - newbie bonus?

Thurrafork

Hello folks

After reading the recent MSE article here about ISAs, I immediately opened a new Cash ISA with Trading 212 as it seems to have the best rates currently - 5.04%, including 0.54% new customer bonus.
I've opened the account and deposited some money, but the interest rate shown is just the standard 4.50% - lacking the new customer bonus.

Have I done something wrong?

Nowhere in the process is there any mention of a promo code or anything like that. I just clicked through from this page:
Cash ISA with zero account fees

- which clearly shows the 5.04% promotional rate in large declarative text, but still my account shows only a 4.50% rate.

What have I missed?

Thanks

Thurrafork

Ah, a bit of further digging on the forum offered a suggestion. Go to the Enter Promo Code section of the website and type 'MSE'.
This solved the problem - now my interest rate is 5.04%!
A bit frustrating that nowhere in the MSE article or the T212 promo page did it mention that, in order to get the promo rate, the entering of a promo code was necessary.
Anyway all sorted now.

If anyone else has this issue - try entering a promo code (in my case it was MSE)!

Thanks 

Hattie627

Thurrafork said:

Ah, a bit of further digging on the forum offered a suggestion. Go to the Enter Promo Code section of the website and type 'MSE'.
This solved the problem - now my interest rate is 5.04%!
A bit frustrating that nowhere in the MSE article or the T212 promo page did it mention that, in order to get the promo rate, the entering of a promo code was necessary.
Anyway all sorted now.

If anyone else has this issue - try entering a promo code (in my case it was MSE)!

Thanks 

I opened my T212 cash ISA last night and have applied for a transfer on my cash ISA from another provider, so no cash in the account yet.
I got worried when i saw your post so did as you suggest. A box popped up saying that I already was benefitting from the promo rate, but I definitely didn't enter a promo code when signing up for a cash ISA account last night. I think I did link to the site from the latest MSE newsletter highlighting the account, so maybe that was good enough. Very confusing, I agree

Thurrafork

Hello Hattie627
Yes, confusing indeed!
I also linked through from the latest MSE newsletter, so I have no idea why the promo wasn't automatically applied in my case.
Ho hum.

sam1970

Iam in the same position too. My interest rate is showing as 4.5% but I had the message that Iam benefiting from the promotion rate. I dont have any money in the account yet as awaiting ISA transfer. 
It is very strange website which is difficult to navigate. 
Also Iam concerned now about how to transfer my cash to another ISA next year. Apparently, the new provider will need to email trading 212 so it s not automatic and there is no account number to pass to the new provider.

friolento

Your T212 ISA number is in your Settings in the app. An obvious place, I am sure we all agree 😂

As and when you request a transfer out, you just specify that ISA number in the Reference field and leave sort code an account number blank

MrsMeg

I've just had online chat with T212, funds awaiting transfer in to Cash ISA opened just 14th. Funds not expected until 22,23rd but confirmed on chat I will get bonus. Got it in writing!

Nijinsky

I can confirm the promo code MSE works to get 5.05% with Trading 212.

Nijinsky

Trading 212 have reduced my interest already from 5.05% to 4.8%.

I thought the first 12 months would be a solid rate, so I'm concerned they've lowered it in under 2 months.

Shall I write to them to challenge this?

clairec666

Nijinsky said:

Trading 212 have reduced my interest already from 5.05% to 4.8%.

I thought the first 12 months would be a solid rate, so I'm concerned they've lowered it in under 2 months.

Shall I write to them to challenge this?

It's a variable rate account, they can lower the rate as often as they like (quite significantly since I opened an account with them in February!) so you've got no grounds for complaint. There's also been a Bank of England base rate cut recently, so most rates everywhere have dropped.