Withdrawal of funds

In an age where we know instant transfer of cash has been around for many years surely it is unacceptable that this platform quotes a period of three days before money hits ones account.
This is deliberate ‘parking’ of clients money.
What are other users experiences ?

1 Like

It’s up to 3 days not it takes 3 days

1 Like

Still not acceptable

Hey :wave: .

Withdrawals are executed by us within 3 business days. Your last request was sent 17 hours ago, and you can expect it to be processed within the estimated period.

The clearing sometimes requires manual processing (due to AML precautions), and all this is a standard procedure, thus why it is not instantaneous.

6 Likes

whats not acceptable? that its not an instant withdrawal to bank? who does instant withdrawals?

1 Like

This post was flagged by the community and is temporarily hidden.

Still unacceptable. If TransferWise can move billions daily and within seconds ( I use them regularly) then so can you. You’re running a very archaic system.

transferwise is a remittance company sending money back and forth, its not a share dealing company that has a bit more to its AML procedures, withdrawal procedures etc etc. I. know plenty about what im talking about. Why waiting anywhere from a couple of hours to 3 days is an issue? You did agree to the terms and conditions when you joined up and you did read its deposit and withdrawal procedures before you actually deposited?

5 Likes

Other brokers also take this length of time. Trading 212 is not any different in this regard.

1 Like

@B.E @Richard.W except they don’t. IG can transfer to me within 2 hrs. When I was ii it was same day.

I’m assuming its a risk / staffing issue rather than whats possible. If it was a financial issue, you could allow fast transfer option for a small fee, ig does this for £15 for example.

Thank you Froop ! That is more or less my point !
These other guys are living in the past and have no idea what is happening at breathtaking speed in Fintech.
In their world they are still writing cheques that took 3 days to clear.
China is sooooo far ahead of us, this would be a joke to them.

why don’t you use them then instead of complaining about a free service?

6 Likes

It can take UP to 3 days. This is quite normal.

2 Likes

So because something is free we should not strive for improvement and technological advance? @Cashurkash

China is ahead of the game in many ways, I agree. Anyway I see it as the next superpower if US can avoid a war

@perrigaux everyone can choose a platform that suits his needs. I do not need instantaneous transfer within minutes/hours really. Thus I am content but I can understand where you are coming from. Its not wrong to ask for better service (nicely/politely :wink:

1 Like

Thank you for your reply

well, this is not China and although they may be far ahead in certain things they are way behind in other areas. Im not trying to cause any arguments here just saying that it can take up to 3 days ive had withdrawals land in account 2hrs after processing. T212 is not a remittance company its a share dealing company so it cannot be compared to other payment platforms as its totally different

1 Like

Well it just shows you that you do in fact know nothing BECAUSE I have just learned that instant payments for withdrawal ARE available ! Through SKRILL !
Why no one told me about this from T212 including the moderator in this thread I am at a loss to know.
This is exactly what I was talking about earlier , e-wallets !
Needless to say I have established a SKRILL account.
What a lot of nonsense was talked about above ! You can put your cheque books away now !

@perrigaux I believe that the topic got mixed here. To be sure that we’re on the same page: are you referring to (A) the execution of the withdrawal on our side or about (B) the time required for your funds to be allocated in your bank account once executed on our side? If it’s option B, then the information is also available here:

I hope your day has got better as its went along, you cannot withdraw to Skrill unless you’ve deposited from it so, your still going to wait, like the rest of us.

1 Like

varies. I withdrew 3K at 4 PM in the afternoon UK time and got it in my acc 6 hours later.
But then I withdraw 1k and takes a day max.
It’s all random, but it never took long. I can deffo say, every withdrawal I made ( maybe about 25K in total) was done to my UK banks and cards under 24hours hitting in my account.

the one thing you cannot criticize IMO is the withdrawal process from 212. I have not seen a single company withdrawing so fast back to my card or bank.

At least for UK cards and banks in my experience. On my Taiwanese cards it takes about 5 days (from processing to execution, hitting my account) in total. Which is still faster than the majority of any other standard broker out there.