Really interesting, and competitive. It looks like it is a Mastercard too which should make it acceptable at most retailers.
I had my fingers crossed that a Junior ISA would be your next big move…. But I am sure it is next on your list
Sounds really great. I assume the card can hold multiple currencies, like Revolut or Wise cards.
I have now seen that a list of 13 currencies covered (So not TRY. I had asked “For which currencies will fx be at 0.15%? For example, can I spend from a GBP balance when on holiday in Turkey and pay only 0.15% above mid-market rate for TRYGBP? How will that work at weekends, when fx market is not open?” )
I have found that at the link more is explained, including comparisons with Revolut, Wise and Mastercard. Interest is paid at different rates on different currencies.
Will it be possible to pay in both GBP, EUR and USD? My Trading 212 base currency is GBP, but I have USD and EUR balances with Revolut and elsewhere that I would like to be able to pay into a Trading 212 USD and EUR balances.
This is an exciting development. I’m not sure it will yet be a Revolut killer.
Only 13 currencies are supported. (I needs Turkey). Can the card only be used for payments in those 13 currencies? Can I use the card to make payments in Turkish Lira from a GBP balance and pay just 0.15% above mid-market rate?
No payments or transfers to third parties, only to your own external accounts.
Deposits are to Trading 212 account using a reference number and name on the sending account to direct where the money goes. (Revolut gives you your own personal IBAN or bank details). So can’t accept deposits or payments from third parties.
close to Revolut exchange rate, and better at weekend.
better than Revolut interest rate on deposits.
0.5% cashback, up to £20 per month
convenience of integration with investment portfolio.
It will be interesting to see what card management tools are provided.
freezing/replacing card from within Trading 212 app?
I do lots of spending in Turkey, paying restaurant bills, etc, in TRY. The Revolut rate is about 0.45% above mid-market. Mastercard and Wise rates are even worse. Will you really do 0.15%? Or will spending be at Mastercard rate, when not one of the 13 supported currencies?