Trading 212 Cash ISA Review

For savers comfortable with online banking and looking for a safe place to store their money, the Trading 212 Cash ISA Review could be a good option. It has a competitive interest rate and offers the flexibility to withdraw and replace funds without it impacting your annual ISA allowance. This flexibility will make it a compelling offer for those who need some extra incentive to save.

It’s also easy to integrate with other products on the platform, including the Stocks and Shares ISA. Withdrawals are quick and convenient, although the website and app do take a little time to process, so it’s not instant. Interest payments are made daily, a nice touch that motivates many users. Finally, it’s FSCS protected – up to PS85,000 is covered by the Financial Services Compensation Scheme in the unlikely event that Trading 212 goes bust.

Trading 212 Cash ISA Review: Is It Worth the Hype

Trading 212 also offers some unique features that help set it apart from the competition. For example, you can earn interest on the uninvested cash in your investing accounts – currently at a market leading rate of 4.60% at the time of writing. However, it’s worth mentioning that this feature does carry a slight catch, as your uninvested cash is placed in QMMFs (Qualifying Money Market Funds) which are not guaranteed by the FSCS.

In addition to this, the company offers low costs for its investing and Cash ISA accounts – with no minimum deposit, zero account fees and a very low 0.15% FX fee on Invest accounts (excluding Euros). They even have a debit card that you can load in a range of currencies – so you can avoid currency conversion fees when buying shares abroad.