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Cash ISA Inflated interest rate at point after adding funds- Trading 212
Katamandj
Posts: 1 Newbie
Hi all,
wanted to gauge opinion on Trading 212 and its highlighted interest rate for Cash ISA via their app. I opened a cash ISA account 10 months ago but at that point didnt add any funds.
I got round to adding funds this week. During the process the app indicated after the stage of depositing of funds the interest rate would be 5.1% but after I deposited the funds the rate was shown as 3.85%. Surely this is misleading and wrong to highlight the inflated interest rate. I got in touch with Trading 212 and to be honest they were very responsive but stated that as I hadnt added funds within 10 days of opening the account I wasnt eligible for the enhanced interest rate of 5.1%. In that case why did the app show the interest rate at 5.1%. Before depositing the funds it should have state that the rate I would get would be 3.85%. I have complained but would be interested to know if people think this business practice is acceptable?
wanted to gauge opinion on Trading 212 and its highlighted interest rate for Cash ISA via their app. I opened a cash ISA account 10 months ago but at that point didnt add any funds.
I got round to adding funds this week. During the process the app indicated after the stage of depositing of funds the interest rate would be 5.1% but after I deposited the funds the rate was shown as 3.85%. Surely this is misleading and wrong to highlight the inflated interest rate. I got in touch with Trading 212 and to be honest they were very responsive but stated that as I hadnt added funds within 10 days of opening the account I wasnt eligible for the enhanced interest rate of 5.1%. In that case why did the app show the interest rate at 5.1%. Before depositing the funds it should have state that the rate I would get would be 3.85%. I have complained but would be interested to know if people think this business practice is acceptable?
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