I have a question regarding withdrawals from Trading212.
I regularly invest in ETFs through Trading212 using my N26 bank card. As I understand, any withdrawal has to go back to the original payment method. If, for example, I decide to sell all my ETFs and withdraw around €30,000, would this large sum being sent to my N26 account raise any red flags? Specifically, could N26 bank or others bank potentially suspend my account for suspicious activity, even though the funds are coming from Trading212, a regulated broker?
Yes and no. But why did you deposit with your card? There’s 0.7% fee on that.
You could do SEPA transfers with 0€ fee and also instantly.
Anyways, deposit an amount via bank transfer, verify your account and see how much you can withdraw with it. Bank transfers are less risky, compared to suddenly a card refund of 30K.
hello I deposit like few hundreds euro with my debit card so no fees.
If I transfer bank just takes longer but yeah I guess i better start using bank transfer instead.
Also I meant if the future that I wanna withdraw when its reach example 30k or something. what’s the good practice to avoid bank system triggered by anti laundering system.
thanks
Bank transfers are very fast, the Trading 212 receiving bank is JP Morgan Chase in Germany which is enabled for SEPA Instant Transfers, so if you transfer via N26 as Instant, it’s there in minutes.
And if you transfer as no instant, it’s there the same day or the next day.
For future, if you withdraw to your own verified account, there’s not much to worry about. N26 could flag the transaction and ask for proof, and you can send them a statement from T212, it’s common.
Why would i? plus I dont have that much funds. It’s just I want to avoid the banks questioning on everything (paperwork statement) and freeze my account, just want to do it safely
thank you very much, I believe the statement you mention has to request from the T212 to provide such document insatead of generate from the app and download it right?
Hmmm interesting point there.
Hypothetically if i started my trading 212 account using a debit card 5 years ago, and subsequently 2 years in started depositing via bank transfers when it became available to do so, could I now withdraw all of the account value via bank transfer as the debit card originally used is now expired?
AML/fraud alerts credit agencies and banks use gets triggered mostly on behaviour patterns. No one can guarantee any transaction, from any source, for any amount, not to get flagged. However “account suspension” is not something banks will use unless there is proven wrong doing related to the account.
What’d happen usually is your transaction (if flagged) will be frozen, you’ll likely get a call and depending on suspicious activity you may be asked to provide “source of funds” inquiry.
Again no one can 100% guarantee this, but a regulated broker triggering these flags is unlikely. Especially since monies going in has to be already recorded (i.e you can’t walk to T212 till, and deposit cash into it)
Largest withdrawal I’ve done from T212 (to HSBC) in a single transaction was for £35K and no one raised anything about it.
