New to Trading212

Help
#1

Hi all,

I want to trade in US markets so I opened an account on trading212 and on Revolut.
I am a UK resident and have some newbie questions.

  • Revolut offers only 1 free swift transaction per month even with premium account. Is there any other method to fund USD trading212 account? I saw some posts in this forum where people mentioned UK resident can use bank transfer for USD but I don’t see the option to use sort code & accountId on Revolut for USD currency.

  • To add Trading212 as beneficiary in Revolut -

    • Should I use individual / business account?
    • Other details like name and address - Mine or trading212. what’s the address for trading212 Barclays Branch?

  • Are there any deposit / withdrawal limits that you are aware of?

  • Has anyone done withdrawal from trading212 to Revolut. I know trading212 offers free withdrawal but what are the other fees to consider?

Thanks in Advance.

#2

Out of interest, why did you use a USD account? Most people who are Uk residents will use a GBP account. That way there are no deposit/withdraw costs. Given that there are no currency conversion fees on the invest/ISA side of the app, surely this is the way to go?

1 Like
#3

Yes you are right, trading212 doesn’t charge any additional fee. But If you have account in GBP, every time you make a US trade, currency conversion will happen - GBP to USD (buy) and USD to GBP (sell) and that conversion will happen based on the rate agreed for that day. Surely, this can benefit you as well but I want to avoid this conversion, one less variable for me to think about.

On top of that, Revolut offers free unlimited (for premium customers) conversion at best rates. Only thing I need to consider is trading212 to Revolut transfer charges, how much if any.

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#4

the T212 FX rate is not “agreed for the day”. it is live to the minute and you get the exact amount at the time in which you act on your positions.

not having to deal with this may seem convenient once the money is in the account, but often comes with costs from the external parties. comfort vs value.

#5

Bump.

Can someone from Trading212 respond to my questions.

#6

Transfer
Transfer546×767 37 KB

If you go to “Deposit Funds” on your account you will find all the details and a reference to add to the transfer.

#7

Should you be posting your banking details?

#8

These are not mine, they are T212.

1 Like
#9

Fair enough good point :rofl:

1 Like
#10

Anyone actually got a timeframe for revolut withdrawals? Did one Friday still not landed. Not worried just curious

#11

I had both card refund and bank wire to Revolut. Usually in scope of 2-4 days since it is executed from T212 side.

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#12

Your not UK though so yours would naturally be a touch later would it not?

#13

Well not so long ago every Revolut account had UK IBAN, since then we changed to LT IBAN, but I did not notice impact on timeframes.

I would presume GBP to GBP(Local) and EUR to EUR(SEPA) should be faster then USD to USD using SWIFT, but that is for bank wire.

Card transaction should be in same ballpark.

2 Likes
#14

Mine is GBP - GBP so hoping it’s today to pick up some crypto treats!!