Does anyone know exactly what happens after the ID document used to open the account expires? I just received an e-mail notifying me of the soon to expire document.
Just out of curiosity since I’m not gonna have a renewed passport ready by the time it expires…
I’ve already sent an email to id@trading212.com with other documents such as national ID card and driver’s license hoping at least one of them could suffice for this procedure. And the problem is that I’m not an EEA or EU citizen…
But in case they get rejected, what exactly happens?
Does the account get completely frozen?
Is buying or selling stocks limited?
Are deposits and withdrawals disabled?
I really need to know this so I can take preemptive action and avoid getting funds stuck with Trading212 for god knows how long…
I think you will be able to still buy and sell your holdings but you won’t be able to withdraw, just confirm with T212 staff, mention them in your comments and you will get the answers directly. Also you can use the private chat box on the main page to be assisted by customer service staff which is very useful.
When the expiration date of the document approaches, you will receive an email reminding you of that and requesting a valid ID document.
If you are not a UK or EEA resident, the only document that can be accepted in this case is a valid renewed passport.
In the time that a valid passport is not provided, your account will only be restricted from making withdrawals. The account will not be frozen and there will be no limitations on buying and selling or depositing, and the withdrawal restriction will be lifted as soon as the valid passport is provided and verified.