T212 rate cuts

JohnB47

Moneybox has dropped their underlying rate by 0.25% from 29th May.

Including bonuses, my Trading 212 Cash ISA will soon drop to 4.32% and my Moneybox one to 4.8%.

I'm thinking of ditching Trading 212.

Stargunner

slinger2 said:

P1Fanatic said:

I initiated my transfer out of T212 on May 1st after their previous (none BoE related) rate drop. Its taken until today (16th) for them to action it and money has left T212 but not yet arrived at Moneybox. 2-3 weeks seems to be the norm for Transfers Out.

Having previously been overwhelmed with Transfers In, I assume that T212 will be overwhelmed with Transfers Out for the next couple of weeks.

T212 is a flexible ISA, so it may still be suitable for a lot of people.

BigBear68

I have initiated a transfer to Santander fixed ISA as I can see more interest rate drops happening, of course T212 were not in the list of online transfer banks so printed off the form and posted it off this morning.

clairec666

I know Trading 212 are a bit annoying with their ever-changing "newbie bonuses" and interest rate cuts... but as it's flexible it's quite handy for easy access savings. I'm keeping mine open but have moved most of my savings elsewhere.

saunderd

Question, just looking myself at moving out of T212 with their rate cut but also did I dream it or did Martin Lewis say recently (maybe on GMB this week?) that we should look to move to a fixed rate that is lower than what is currently on offer with the easy access type accounts as the indications are that the base rate will continue to go down?

So I was thinking of moving to Tembo with their 4.8% (which is probably being reviewed anyway) but then if I go for a fixed rate it's going to be around 4.2% - thoughts on the crystal ball situ or did I dream he said the above?  

Johnny-Cage

If you transfer out of T212 is it full or can you do partial transfers out

gesdt50

Didn't know overwhelmed is now the perfect get out clause
Companies like T212 have misleading terms and terminology, they call an item of 1 a portfolio which is why trading platforms contnously fail to engage initially attracted customers not only are their acronyms misleading there defined words lack sticking even near to the definition 

Aidanmc

Johnny-Cage said:

If you transfer out of T212 is it full or can you do partial transfers out

You can do partial Cash ISA transfers.

I think S&S ISA transfers must be done in full

Archerychick

slinger2 said:

Have Vida cut their rates recently? Or are we still waiting for a post-base rate cut?

No they haven’t yet. If they drop 0.25% they’ll still be attractive 

allegro120

I received this e-mail today, but still not clear on what my rate will be.
Email is saying Trading 212 Cash ISA: From 4.35% to 4.10%, but according to my notes I'm on 4.5% AER variable standard interest plus a 1.1% fixed rate boost for three months.  My app is currently showing 5.6%.  4.5+1.1=5.6, so that's correct.  Also I've never had any notifications about the standard rate dropping from 4.5% to 4.35%.  When did that happen?