Invest & ISA - Account Funding Conditions Update

Yes and no. As I don’t use Revolut.
And it is not my plan to have to use it just because my country (Belgium) might be supported later in the year :wink:

I opened a RON account because I’m paid in RON. I now have no free deposit methods - Revolut charges the equivalent of 5.2 EUR for Swift transfers. My local banks also charge similar fees.

Waiting/hoping for a new free deposit method…

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And gbp from revolut is still 5.2 euro?

@woldur

Why transfer GPB when he has RON account? The money will be converted from GBP to RON by the bank.

@Investor212
Because revolut offers gbp account and best rate on the market

Local bank RON -> Revolut (free) -> Revotut RON -> GBP exchange (free or fee) -> Revolut to Barclays (free) -> Barclays GBP -> RON exchange (big spread) -> RON i T212 account

SWIFT: Local bank RON -> Barclays RON (fee) -> RON i T212 account

SEPA: Local bank RON -> Local bank RON exchange to EUR (big spread) -> Barclays (free or fee) -> Barclays EUR -> RON exchange (big spread) -> RON i T212 account

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Since there is no update from T212 team on fee free deposit method for local currencies, I am forced today to deposit money with different broker after using solely T212 for 6+ months. This is a big disappointment for me. I understand it takes time to implement new deposit method so only an update/roadmap from T212 would have been sufficient for me to consider holding onto the money until I can deposit it to my T212 account.

@George @Team212

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Hello, so for my understanding, if I do a normal SEPA transfer from Spain to your GB IBAN it will be no intermediary bank fees? I thought brexit removed SEPA from uk

It depends of your bank. I do SEPA transfers from Spain using Santander and they are free.

I mean, as equal as pre-brexit?

Anyone know if the app shows how much of the £2,000 free-deposit limit a client has left? I’m struggling to find it. If not, that would be a handy addition.

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If you click on the button to fund your account, you have the message about the limit. If you click on the 2000 euro word, it will tell you the balance

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So it does, thank you!

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Any updates on this? I still cant see this option.

It would really be helpful if I could use my balance to feed into my pie rather than card!

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This is great news for us EU folks. Any (very) rough ETA on this? Basically, should I keep using my debit card for the next few weeks or hold off a bit?

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I also don’t understand why it is not possible to fund autoinvest from accounts funds. That should be easy to implement and would reduce the cost of funding in most cases a little bit

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…and it is implemented on practice account since beginning

Be good if there was a timeline so it doesn’t turn into one of those things where people just forget because they get tired of asking. Amazing to know you can on practice!

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Any updates regarding autoinvest through bank transfer (for non-UK users) or free funds? And I would like also to ask if the team is working on a solution for the deposit in USD without needing to use a wire transfer; otherwise, there’s no point in having an account in USD for the long term with such high transfer fees. Any update on these matters would be appreciated. Thanks

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The whole idea of autoinvest doesn’t really work now unless you can use account funds.

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