Withdrawal / Deposit discrepancy

šŸ¤ Help
1

Hi @Team212

A while back (5th June) I tested out the cash withdrawal functionality via the app.
I deposited Ā£10 and immediately tried to withdraw the same amount. No pending trades at that point.

However the app would only let me kwithdraw Ā£1.12 and retained the rest.

Can you - or perhaps someone in the community - explain why this was? Wasnā€™t a big deal at the time as I simply invested it, but thinking later down the line if I am trying to withdraw greater sums, this test would suggest I can only withdraw a little over 10%.

Your insight would be appreciated.

Many thanks

JOE.

2

Did you have a free share worth the difference?

1 Like
3

I did actually, about two weeks prior.

4

I suspect it is that. To stop someone signing up getting the free share and then withdrawing their money.

5

Yeah makes sense. Although if that isnā€™t an offput to referring peopleā€¦ :wink:

Unless thereā€™s a time limit on it.

6

There was a disclaimer document somewhere on the free share topicā€¦ here it isā€¦

https://www.trading212.com/en/Free-Share-Terms

2.5. The monetary value of the Promotion Share shall be subject to a 30 days withdrawal lock-up period, from the day of the receipt of the Promotion Share. The lock-up will not affect in any way any other assets You have - e.g. Your deposit or Your profit (if any) arising from the Promotion Share etc. In case You have sold the Promotion Share with a loss (for less than it initially cost) only the funds acquired from the sale would be subject to the lock-up period. If you have received the monetary value, instead of a Promotion Share, those funds will be subject to the lock-up period

1 Like
7

Had you sold the promotional share?

Did you top-up the account to Ā£10? Or did you add Ā£10 and you still had the share or the proceeds from selling it?

8

Thanks @Vedran - assumptions confirmed.

1 Like