Why has T212 only sent 20000 to my new provider?

Rheumatoid

Just transferred this years contribution to Shawbrook and T212 have only sent 20k without the interest. The interest is still in my T212 account. how do I get that transferred as well?
I requested a full transfer.

Ayr_Rage

Could it be that as T212 interest is only credited monthly it will be sent to Shawbrook around the 3rd of next month when it would have been paid to you?

Better to ask T212 directly by message in the app.

Rheumatoid

Thanks. I could understand if this months interest had not transferred but Interest from April has not been transferred. Have messages them but could take 72 hours to hear from them.

Rheumatoid

This looks like complete nonsense to me. Why would the interest on this years contribution be counted as last years contribution?

epm-84

Sounds like a case of computer system has been programmed to show current years subscriptions being what you've paid in, and doesn't make an exception for interest.

Although, I thought HMRC set the rules about transferring current years subscriptions and there isn't the option of requesting either full or partial for the current year - it's all or nothing.

clairec666

epm-84 said:

Sounds like a case of computer system has been programmed to show current years subscriptions being what you've paid in, and doesn't make an exception for interest.

Trading 212 recently changed their system to show your "replaceable funds" separately from "this year's deposits". It used to be shown incorrectly and now they've corrected it. Maybe somewhere in this changeover they've got in a muddle about what to do with interest.

Rheumatoid

I explained it did not make sense and within 10 minutes the full amount of interest was sent to Shawbrook.