Hi,
I have UK bank account details but can only transfer in GBP. However, my base currency in Trading 212 is USD. Just wondering what will happen once I deposit GBP? Will it be converted?
Your bank will do it - at a terrible rate and charge you for doing so.
Hi @fauxylar,
Indeed, there will be a conversion when the bank account and Trading 212 account’s currencies differ. Where it will be applied will depend on how the money will leave your bank account.
1.If your bank sends the funds towards Trading 212 as USD, then the bank will make the conversion GBP/USD from their side and we will fund your Trading 212 account with the arrived USD deposit.
2.If the funds arrive at us as GBP, we will fund them in your account as USD after using the GBP/USD rate on the CFD platform.
Thanks for the reply! Was just writing something haha.
I tried sending GBP from my Transferwise account, but it got sent back bcs apparently T212’s bank details were wrong? What can I do about this?
@fauxylar I will DM you to discuss your case further.