Can you make the withdrawals quicker using Faster Payments please? Most places the withdrawals are within 1-2 hours and some within same day. Trading212 is super slow comparatively.
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I can echo this. Why has the withdrawals become very slow?
They used to be faster than this. Whats happening?
@Bogi.H and team could you look into this please.
Thanks!
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In my experience, UK withdrawals tend to happen within minutes even though T212 quote up to 3 days.
I think the trick for faster payments is to use a story code/account number not an IBAN
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I never had UK withdrawals from T212 in minutes. Sometimes next working day, sometimes 2 or 3 working days. Ideally it should be instant.
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@Mr.Trade, @fm0, we’ve already made some improvements in the past few months and will continue to work on making withdrawals to reach you within minutes.
On a side note, I assume you haven’t noticed this change if you haven’t withdrawn funds in the last month or two.
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FWIW I’ve just done 2 withdrawals and although it says up to 3 days, was instant.
It might be worth noting that stock markets settle T+1/2/3, so although cash can be instant there are a number of variables. On other brokers for example you generally need to wait for the cash to settle before withdrawal.
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I deposited some money late Friday night, they did not get credited until Monday morning.
Maybe there is a amount based rule? Large withdrawals are slower? Who can confirm?
This was definitely what I found. My small withdrawals were within a day. My almost ÂŁ3k took about 2 days for the acknowledgement and 3 days to arrive!
I guess it depends how you deposit? Using the truelayer thing it’s instant, through regular payments generally up to a working day.
Maybe 212 can confirm if they wait on sales to settle to pay out larger amounts?
The improvements that Bogi mentioned only concern withdrawals in GBP for clients under our UK entity. Such requests are now processed instantly on our end and become available in your bank account much sooner, in some cases within minutes. Of course, there can be exceptions, as sometimes checks have to be performed for some withdrawals.
We’re working on bringing these improvements for withdrawals to all other currencies and entities as well, but I cannot share an ETA as of now.
Dougal is right here — bank transfer deposits you initiate with TrueLayer have always been instant as long as you follow the deposit flow correctly from start to finish. For regular bank wires, the timeframe can vary between 1 and 3 business days. This depends mainly on your bank and how quickly they process and send the funds to us, yet we do our best to allocate each deposit as soon as we receive it.
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Can T212 tell us what are the rules that causes fast Vs slow transfers? I never had fast transfers.
Also what’s the key difference between true and non true layers when it comes to speed for withdrawals?
Weekend deposits as delayed until Monday why? Faster payment works 24/7
I agree, the length of time taken is unacceptable and should be enacted on the same day.
Has anyone had any experience receiving cash not in their base currency, how long does that generally take depositing? I’m assuming it’s also instant if say using truelayer?
This has been my experience as well, since I’ve started using the card, I do a lot more deposits withdrawals. Truelayer is and if I’m not mistaken has always been instant.
I don’t have a good recollection of withdrawals but they usually were fast. My latest withdrawal was this week, and landed in my HSBC account in a few minutes.
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I’ve experienced the opposite. Very recent withdrawals have been slower than usual.
Deposits aren’t too bad, except for weekends.
What are the withdrawal rules, for what amount its quicker and for what amount its a few days? T212 team pls share the rules
To your first and second questions - standard transfers take approximately 2-3 business days. With fast transfers - the funds arrive at the desired destination within minutes.
Correct. With instant transactions, money will reach you any time, any day of the week.
we do not impose any restrictions - not even on the amount you’re transferring.
Faster payments are almost instant any delay is from it not being Faster payment or is a delay fromT212 side to process them in first place.
My bank uses Faster Payments by default. Does it mean the delays are from Trading212? If so why small transfers are quicker and large transfers are delayed by a few days. We just want to know the timeframes as if i need money but don’t know when i’ll get it and need to keep checking. We all want quick stress free transactions.
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