So long story short - non UK residents who use T212. Are our funds still covered up to 85k pound? If yes, great, that’s me happy.
Confirmed. 
7 Likes
If all clients are under the U.K. branch and new customers as onboarded under the U.K. branch what does the Bulgaria branch do? 
1 Like
Great! I think that’s all that really matters!
Well, back in the days, we have some clients onboarded through that entity. The same company will also have its part in the seamless three-way agreement for our German clients - thanks to that flow, the current asset & investment protection will remain unaffected.
3 Likes
Hey, I have got a query…I am a Italian resident and got an email that since UK is not part of a EU.,Trading212 is not legally obligated to EU laws . I was think of changing my brokerage to another platform (etoro, plus500 etc) .is there any way of doing it.
2 Likes
Maybe before having any rash decisions.
Check this topic:
Why German citizens are different from the rest of eu citizens?
1 Like
@mmaatt78 It’s an internal decision, and it will make no difference for the clients in terms of investment protection, level of service, conditions, etc. Business goes on a usual. 
I have a question and please correct me if I’m wrong.
It is my understanding that Interactive Brokers UK approached Brexit by migrating their EEA-residing clients to Hungary/Ireland/Luxembourg entities, which means their non-UK clients are no longer subject to £85k FSCS protection, and downgraded to maximum €20k compensation.
However Trading 212 will keep all its clients under the UK entity, instead of migrating to their Bulgarian counterpart. This means that starting with 2021 for EEA-residents, we can state that Trading 212 provides a better protection scheme than Interactive Brokers UK, correct?
If so, that is great news.
8 Likes
Dear @Tony.V,
Likely the banks will start charging transaction fees for transfer in/out of the Trading 212, which so far was 0 with most of EU banks? I do not have any confirmation but would expect so. Germany bank credit cards already change when not using same currency.
Are you recommending/planning a “0” transfer fee platform EU? Does Paypal give this possibility? and Can we update payment methods that are different from the main ones used in one’s account?
Thanks a lot!
Best,
Ashu
1 Like
UK is not leaving SEPA after brexit, so with that said, should remain business as usual when talking about EUR payments.
2 Likes
Why is then Interactive Brokers transferring all their EU clients into their new EU subsidiaries and Trading212 can go on with their business in UK for EU clients?
3 Likes
Apparently the EU is worse. I think you’re only protected up to €20,000.
What’s everybody’s problem with being part of the UK entity? Just keep investing in stonks. You’re covered.
Perhaps T212 should have made it even more clear in the notification (if that is even possible) that nothing will be affected.
Email states there will be in app notification, which we need to confirm. From 22nd December onwards.
I understand all this. But then I do not know why Interactive Brokers bothered to open three new EU subsidiaries and transfer all EU accounts there if there is no need for that. Clearly it is long-lasting and expensive process why would anybody put up with this if there was not any necessity?
7 Likes
It’s a bit like going to AJ bell or Hargreaves and asking them questions regarding T212 
Some people may be new to investing, and when it regards hard earned money, there is no “Dumb” quistion. People may be worried couse the dont understand the T212 statement or are just in doubt and they wanna re-confirm that theres no worries.
We should try to keep ourselves calm and answear even the most basic quistions.
6 Likes
I wonder the same…after all why the financial services are such a Brexit issue if it’s business as usual.
2 Likes
Yeah, as far as I know revolut also. Almost too good to be true from 212 team, but if it is true then this is a Christmas present for all of us eu clients
3 Likes