I would support this. Interactive Brokers already offers this where uninvested cash earns interest but you need to hold over £8k which is a lot of money to me.
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Request them and let’s see?
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Are there money market ETFs?
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Oh. So it’s basically the same things that I posted above.
I doubt Trading212 will offer interest on cash balances although that doesn’t mean they shouldn’t. This is primarily because cash balances on people’s accounts earn interest for Trading212 so they don’t really have an incentive to pass that down to us as that’s less profit for them. All I can say is try to keep minimal amounts of cash in your ISA and Invest accounts so at least you can earn interest on it in a savings account.
I will eat my words earlier in this thread as it looks like T212 will now offer interest for uninvested cash. (update to terms email just sent). Pasted below for reference.
When you hold Uninvested Money in your Account or ISA Account with us, you agree that we may deposit your Uninvested Money with UK/EU-regulated financial institutions and receive interest, which we will retain. Where you hold Uninvested Money in GBP/USD/EUR, we will separately pay you part of the interest we receive from the deposits, representing at least 1.5% for USD, 1.4% for GBP and 0.8% for EUR. Please note that these rates are subject to change, as per Clause 14.2 below. The current rates can be found on the Terms and fees table on our Website. For the avoidance of doubt, we will not pay you interest for Uninvested Money held in currencies other than GBP/USD/EUR.
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when does this start>
I don’t believe there is a start date announced yet. See other thread for more discussion with some posts by T212 team
Hi all,
I have some concerns around the following section;
“In the unlikely event Trading 212 or the bank holding your client funds were to go into liquidation, and if there was a failure to safeguard your assets, the value of your funds and assets held with Trading 212 are still protected by the applicable compensation scheme.”
Which banks will you be depositing the uninvested money in?
As an example let’s assume that I have currently 85,000 in an account with “Bank A”.
I also have £10,000 of uninvested money in my T212 ISA account.
T212 decides to deposit the £10,000 of uninvested money in my ISA account with “Bank A” but I don’t know that T212 has deposited my £10,000 with “Bank A”.
Therefore “Bank A” now holds a total of £95,000 of my money, which is £10,000 over the £85,000 protection that FSCS provides.
A week later “Bank A” collapses. Am I protected for the full £95,000 or just upto £85,000?
If i’m covered only up to the £85,000 limit then I will be losing out on £10,000. Therefore it’s important for T212 to inform the customers which banks the uninvested money has been deposited in.
I’d appreciate a reply to the above, thanks
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Barclays. It says this when you make a deposit.
4.6% on 0-1 year US treasuries - JPM BetaBuilders US Treasury Bond 0-1 yr
Risks = £/$ exchange rate, US Government defaulting
Tip: liquidity kinda sucks, don’t do big trades in one go (e.g. > £1-2k)