ISA Allowance for Trading 212

ItsForMe2024

I deposited £4500 into a chip Isa on 6th April 2025. Then I transferred £20k from another ISA to this ISA as well. It's a flexible ISA.

I withdrew the lot as I got better interest elsewhere and I wouldn't have had enough interest to be over the £1k limit by doing this. I'm a low earner just earning £17400.

I wanted to transfer the £20k back into the chip Isa then transfer it to Trading 212 to get the extra bonus they're advertising at the moment.

Is this possible? Would I get the bonus?

Chip can't decide whether my original transfer was from this tax year and according to Trading 212 I'd get the bonus if it is. If it's not I won't.

Hope this isn't confusing. Can anyone help.

eskbanker

When was the £20K first paid into an ISA? If it was transferred into Chip after you'd already deposited £4.5K this year then it would appear to have been prior year money and therefore ineligible for the T212 bonus.

Also, how much of your 2025/26 allowance have you used, in terms of new money deposited this year other than transfers, is it just that £4.5K?

ItsForMe2024

The £20k was from 2024/25.

I've not deposited any money into this isa other than £4500 on 6th April 2025.

eskbanker

Surely you can just deposit £20K into T212 then, without going via Chip? £4.5K is redepositing current year money previously withdrawn from a flexible ISA (and which can therefore be paid into a different ISA), and the £15.5K would simply be regarded as the rest of your 2025/26 allowance (assuming you don't have other plans for this?).

ItsForMe2024

I thought the £4.5k would be new money I put in on 6th April 2025, the £20k was deposited on 22/4/25.

So, your saying I can deposit it all in the trading 212 ISA without it going back into chip?

No I don't have other plans for this money. I just want to put £20k in that trading 212 account.

Sorry for my ignorance as Im always confused about ISA transfers etc.

And if I do this before 5th April I can then deposit more money into the trading 212 ISA on 6th April onwards?

eskbanker

The £20k was from 2024/25.

the £20k was deposited on 22/4/25

Do you mean that the £20K was deposited (into another ISA) in 2024/25 and transferred (to Chip) on 22/4/25?

ItsForMe2024

https://forums.moneysavingexpert.com/discussion/comment/81923025#Comment_81923025

Yes

I've only added £4500 this year to the chip isa

eskbanker

So, your saying I can deposit it all in the trading 212 ISA without it going back into chip?

I'm saying that you can deposit £20K into the T212 ISA without it going back into Chip first, but if you want to get the whole £24.5K back into the ISA wrapper (during 2025/26) then that would be more complicated and would need to involve Chip.

ItsForMe2024

Thanks eskbanker.

Yes I'm saying I just want the £20k in Trading 212 before the end of this tax year

The £4.5k has been spent.

MikeyBhoy

As a user of Trading 212, can you confirm the behaviour I'm seeing on their app? I posted this on the Cash ISA thread, but really its 212 specific

"Signed up to Trading 212 for the better interest rate as recommended here. However the security on their android app just didnt cut the mustard for something protecting tens of thousands of pounds. Long story short, their 2FA looks inadequate in that I (or a phone thief) could log on to the account with just username and password. No 2FA required. Even with 2FA configured and mandated. Their support confirmed this was expected behaviour as the phone is now a trusted device, with no way to untrust the phone. That's not good enough for me. A banking app should ALWAYS require 2FA for logon, so I'll have to go with something offering a lower rate 🫤"

Do you see the same?

oddcueball52

This is how apps behave as it caches the login, I have passcode enable to prompt me to enter PIN before I use the app.

How to add a Passcode Lock for extra security? – Trading 212