A few questions regarding investing account

Not sure if the following questions have been answered in other documents, I just couldn’t find them anywhere…

  1. Let’s start with the inevitable one: Brexit and its impact on EU clients

  2. Are there any dividend processing fees, i.e. anything else deducted from a dividend except a withholding tax?

  3. As far as I can understand, W-8BEN forms are available to reduce the US WHT. Anything similar available for other countries?

  4. Are there any inactivity fees or similar?

  5. Any restrictions on “day trading” resembling patterns?

  6. If I am correct, there is a 5 EUR fee for withdrawals to a bank account. Does tht apply for SEPA transfers as well?

  7. It is also possible to deposit and withdraw via a payment card at no commission. If I make a profit, is it possible to withdraw more than the deposited amount? Is it simple to register a new card when the old one expires?

  8. Any restrictions on card “types”, e.g. credit, debit, etc.

Thanks a lot for the answers.

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@pinguin

  1. The truth is, no one knows for certain what the impact will be. Nonetheless, 2020 is a transitional year so everything will be pretty much the same until a more in-depth deal’s reached.

  2. No dividend processing fees whatsoever.

  3. Only W-8BEN at the moment.

  4. None.

  5. None. However, abusive, manipulatory types of trading like spoofing, wash trading, etc… are indeed forbidden.

  6. You’re correct. There is a 5 EUR fee for withdrawing via bank transfers & it does apply to SEPA transfers as well.

  7. It’s completely possible to deposit & withdraw via debit/credit card, fee-free. If you make a profit, it’s still possible to withdraw more than you’ve deposited & it’s extremely simple to register a new can once the old one expires.

  8. None.

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Why I can’t use revolut card to top up my account?

@Farushku That’s entirely up to Revolut. This is the case with pretty much all brokers: https://www.revolut.com/help/exploring-revolut/spending/which-merchant-is-not-supported-with-revolut/

Ok thanks @David

Instead of a card top-up, you should be able to fund your account with a SEPA transfer from Revolut instead.

It will still be free, and even though it won’t be instant, it will be settled within a business day or two.

Exactly, I have same problem. Whish to use instant top up in case drops happen. Today for instance. 3 of my limit orders triggered. Emptied my dry powder and all my other limit orders got deleted…

Now again 1h of work to set them.

Hopefully with paypal we can link revolut card and pay. Bank wire is just to slow :open_mouth:

Have you try it?
I think if this will work t212 will charge £5 fee.

I trying pay to another broker through paypal with revolut card without success. Like @David said this is problem on revolut side not t212 or paypal

Damn :frowning: But anyway I will keep using bank wire from revolut, free of charge.

T212 does not charge fee on deposit, and SEPA transfers are free from Revolut, therefore you won’t suffer any fees there. If you withdraw with a bank transfer from T212 they hit you up with the £5 fee.

Thanks a lot @David. Among so many questions I forgot to ask about custody fees.

And something more important. To declare my gains to my domestic tax administration, I would need statements, preferably in PDF format.

For buy/sell transactions, the statement should include the following data: value date, security’s ISIN and name, exact number of units (with the fractional part if applicable) and price per unit with the currency.

For dividends, the statement should include the value date (when it was paid by the payer), the payer’s name (or the share’s ISIN), exact amount of the dividend with currency, and something very important, the withholding tax paid (if applicable).

Obviously all statements should include my name as well.

So the question is whether it is possible to export statements with the above mentioned data. Even better if it is possible to export the same data into CSV or any other well known machine readable format.

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@David will it be possible to withdraw to PayPal as well, or only deposits?

@tiberiu89 Yes, it’ll be possible to withdraw.

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