The 212 Cash ISA is now live! 🔥

đź“° What's new
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Enjoy the benefits of high interest, no fees, and tax relief in one simple account. Open your Cash ISA now!

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2

do you support cash ISA transfers, specifically into this product?

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never mind, the transfer section is right there, so that’s answered. how about this curveball? surely HMRC won’t be too happy with T212 increasing my allowance :stuck_out_tongue: bug?

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How can I apply for it? I have CFD, inv and S&S ISA already.

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It’s not a bug. Since the ISA is now flexible, the amount you withdraw, including previous contributions, can be deposited within the same tax year. That’s why the remaining balance can be higher than £20,000 when you withdraw funds from previous subscriptions.

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Hi @Bogi.H
Will there be any incentives/referral schemes to get new customers on board as a CASH ISA saver?

For instance I know a few people that might like this product alone, but not the investing part.

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Just had a look and it is just one pot, I want to use the cash isa to save for different things. So can we please have different pots, similar to pies, to put separate amounts in to make it easier to keep up with my savings goals.

Thank you.

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9

I moved funds from the Stocks ISA, some of which was deposited last tax year, to the cash ISA but it increased the amount of allowance consumed this tax year by the amount I added last year plus its interest.

Is that intentional? I thought not since transfers between Stocks and Cash ISAs shouldn’t consume allowance.

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10

Is the Cash ISA and Stocks ISA the same pot of £20,000? I’d have thought they’d be separate as different types of ISAs? :thinking:

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Answered my own question, they are the same pot. I should have read the information first :joy:

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You realise, you only get 20k to invest tax free via an ISA each year, whether that be a:

  • Cash ISA
  • Stocks and shares ISA
  • Innovative finance ISA
  • Lifetime ISA

The 20k limit, is still the limit, across the account types it just means you can split the 20k across different accounts.

Sorry if I am missing your point here.

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You are missing my point. But that’s ok.

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Fair enough :joy: as long as you understand the limits :smiley:

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The question I have is given the interest rates are the same between the uninvested funds in the S&S ISA and the cash ISA is there any benifit to actually having the seperate cash account or would it just be Easier to leave cash savings as uninvested funds in the S&S?

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I have uninvested cash my stocks 212 ISA that I’ve been using effectively as a cash ISA. I want to move that over into the cash ISA so it’s properly separate, but you don’t allow internal ISA transfers. What’s the recommended way to do this?

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Ok I found in the S&S ISA you can transfer funds to the cash ISA, however like another user found, this transfer has counted towards this year’s ISA allowance. Those were funds I deposited last year. This must be a bug, right?

2 Likes
18

You should update the app, and then the option will appear.

I’ll let you know if there’s such a campaign in the future :ok_hand:

That’s an interesting suggestion :bulb: I’ll pass it on for consideration.

@jimypbr, I’ve DMed you - check your inbox.

1 Like
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is there any benifit to actually having the seperate cash account or would it just be Easier to leave cash savings as uninvested funds in the S&S?

The uninvested cash you hold in the S&S ISA is not protected (assuming it’s 100% held in QMMFs), so in holding your dry-powder there you forgo the protection.

The entire balance in the Cash ISA is protected.

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If I transfer my 2023 ISA from another provider to the trading 212 Cash ISA together with a new 20K for this 2024 year allowance, making it a total of 40K in the T212 Flexible Cash ISA then…

Could I take out the ÂŁ40.000 and return them into the t212 Cash ISA as long I do it before the 5th April 2025?