Trading 212 Cash ISA - Best rate for new customers only

Canny_mal

Has anyone on here who had previously benefited from a boosted introductory rate for a cash ISA with Trading 212 successfully managed to sign up again and got another boosted rate and if so, how did you manage to do it?

Obviously you can use a different email address but ultimately your name and NI number would have to be the same so I'm just wondering whether as soon as you enter those details their system would flag up that you're a returning customer and deny you the new customer bonus.

NebulaNova

https://forums.moneysavingexpert.com/discussion/6663343/trading-212-cash-isa-best-rate-for-new-customers-only

I wouldn't risk it. Even if you managed to set up an account, if they found out they could end up transferring your funds back to your account they came from and closing your account, meaning you've lost your ISA allowance.

peter021072

I couldn't even get an introductory rate on a cash ISA even though I've never had an account with them!

This is because I applied last year but didn't have photo ID and failed. OK fair enough, but they still treat you as a valid customer to avoid offering a bonus when you rectify the issue and apply again.

Although nothing to do with ISAs, I've noticed their CFD trading products are advertised as free commission. However, they claw profits back via increased spreads and higher overnight financing rates relative to their competitors. It's to net naïve investors who are attracted by the headline.

Even if all this is technically legal, it raises red flags, so buyer beware with this company.

sausage_time

https://forums.moneysavingexpert.com/discussion/comment/81958527#Comment_81958527

The T212 ISA is Flexible so even if you fail the opening process for whatever reason and the money is returned you can still invest it (up to £20k in fact) elsewhere in the same financial year.