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Savings and Investments thread
Comments
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As above, its great for what you describe. HL is good for savings and funds but too expensive for buying and selling small numbers of sharesLonelyNorthernAddick said:
Use it for trading shares and such as there's 0 fees and only doing it with pocket money, quite like the app though not used it for the same purposes as you are intending to.fat man on a moped said:
Not used the trading part but have a cash ISA with them. Current rate is 5.1% with interest paid daily.Phantom_User said:anybody use the trading212 app and can recommend or advise against?
not looking to invest, just put a bit of money form an expired savings account somewhere earning a bit of interest.
The headline rate is 5.1% and wondered if this is accurate
So far so good and have found the App works fine although not tried to transfer or draw any money out so can't comment on that aspect.2 -
Every time I think lloyds share price is going to go up to a level I want to sell at it plunges again.
Very annoying0 -
Motor finance court case went in favour of consumers last week & Lloyds are a big player in that market. They set £450m aside to cover claims, but expected to be higher.blackpool72 said:Every time I think lloyds share price is going to go up to a level I want to sell at it plunges again.
Very annoying1 -
Same here, all seems OK so far, but like you, not withdrawn anything yet!fat man on a moped said:
Not used the trading part but have a cash ISA with them. Current rate is 5.1% with interest paid daily.Phantom_User said:anybody use the trading212 app and can recommend or advise against?
not looking to invest, just put a bit of money form an expired savings account somewhere earning a bit of interest.
The headline rate is 5.1% and wondered if this is accurate
So far so good and have found the App works fine although not tried to transfer or draw any money out so can't comment on that aspect.0 -
I have an S&S ISA with them and like the lack of fees. The app is less straightforward but more informative than HL's.
I like it enough to open more ISAs with T212.
Note the 5.1% isn't entirely risk free, they use money markets to obtain that return. I've signed up to it for interest on my uninvested cash balances. You should check whether or not it's covered by the FSCS scheme - from memory I don't think it is.2 -
I've had some instant access savings in Cynergy for years and never had an issue.Phantom_User said:
Thank you. May I ask if you decided on an alternative place for your investment?Covered End said:
I considered this last week and looked at their reviews which were dreadful, so decided against.Phantom_User said:anybody use the trading212 app and can recommend or advise against?
not looking to invest, just put a bit of money form an expired savings account somewhere earning a bit of interest.
The headline rate is 5.1% and wondered if this is accurate
Currently paying 4.6%, but a better rate/as good as anywhere else, apart from 212.
I've stuck with them after the rate recently dropped from 4.8% to 4.6%.
The bad 212 reviews were mainly about people being unable to withdraw and then complaints not dealt with speedily/they are unable to contact/don't reply.
Here they are on Trustpilot. I read the first 2 pages and there were enough complaints to put me off, as I've had no issues with Cynergy.
https://uk.trustpilot.com/review/trading212.com?page=2
NB An educated guess says 212 won't be paying 5.1% for much longer unless they are desperate for cash. Why would you pay 0.5% above the next highest payer, when you could shave at least 0.25% off and still be the top payer? (I may be wrong).1 -
For the ISA it shows you which banks hold your money (mine is split over 3, assume same for everyone) it is they that are giving the FSCS protection.IdleHans said:I have an S&S ISA with them and like the lack of fees. The app is less straightforward but more informative than HL's.
I like it enough to open more ISAs with T212.
Note the 5.1% isn't entirely risk free, they use money markets to obtain that return. I've signed up to it for interest on my uninvested cash balances. You should check whether or not it's covered by the FSCS scheme - from memory I don't think it is.
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Trading 212 is predominantly an investment platform – and its new 5.1% cash ISA* is clearly a loss-leading means of building a customer base for the investment side of the business. While there’s nothing wrong with this (it’s a regular cash ISA and your savings won’t be invested), it’s important to not be drawn in to opening other Trading 212 products without understanding what you’re doing. Investing comes with risk, as the value of your investment can go down as well as up.
If you just want the savings product, ensure you click ‘Trading 212 Cash ISA’ when you go to open the account. It offers a few different accounts, including a stocks and shares ISA, which is a very different product (and which we highlight in our stocks and shares ISA page).
About FSCS protection for this account
The cash ISA has full FSCS protection up to £85,000, however as Trading 212 isn’t a bank, it works slightly differently. When you deposit money, the funds are held in a ‘client money account’, separate from Trading 212’s own money. Trading 212 currently holds these with Barclays, NatWest and JP Morgan – this means YOUR money could be with one (or more) of these banks. These are all fully regulated UK banks and are therefore covered by the FSCS.
If you've existing savings with any of them, the FSCS only covers up to £85,000 per person, per financial institution – in other words, the total protection for all accounts held with a particular bank is capped at £85,000.
Just note that if you have significant savings with one or more of the above banks (or Chase which is owned by JP Morgan, or Ulster Bank which is owned by NatWest Group), you could be exceeding the £85,000 protection limit – and your savings could be at risk if your bank goes bust.
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Cheers for clearing that up2
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Moneybox pays 5.12% but not a flexible ISA, interest annually. Competition.Covered End said:
I've had some instant access savings in Cynergy for years and never had an issue.Phantom_User said:
Thank you. May I ask if you decided on an alternative place for your investment?Covered End said:
I considered this last week and looked at their reviews which were dreadful, so decided against.Phantom_User said:anybody use the trading212 app and can recommend or advise against?
not looking to invest, just put a bit of money form an expired savings account somewhere earning a bit of interest.
The headline rate is 5.1% and wondered if this is accurate
Currently paying 4.6%, but a better rate/as good as anywhere else, apart from 212.
I've stuck with them after the rate recently dropped from 4.8% to 4.6%.
The bad 212 reviews were mainly about people being unable to withdraw and then complaints not dealt with speedily/they are unable to contact/don't reply.
Here they are on Trustpilot. I read the first 2 pages and there were enough complaints to put me off, as I've had no issues with Cynergy.
https://uk.trustpilot.com/review/trading212.com?page=2
NB An educated guess says 212 won't be paying 5.1% for much longer unless they are desperate for cash. Why would you pay 0.5% above the next highest payer, when you could shave at least 0.25% off and still be the top payer? (I may be wrong).0 - Sponsored links:
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Only 1 more sleeps. Can't wait.4
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I've cut right back on my UK holdings in case the markets react a little, it's becoming clearer as to what's ahead - just how bad we will see!golfaddick said:Only 1 more sleeps. Can't wait.0 -
I hate all these pre-budget announcements.Rob7Lee said:
I've cut right back on my UK holdings in case the markets react a little, it's becoming clearer as to what's ahead - just how bad we will see!golfaddick said:Only 1 more sleeps. Can't wait.
Friday we had the employer NI increase.
Yesterday it was the bus cap increase.
Today it is minimum wage increase.
No bloody point having a Budget - just announce everything to the press over a week or two.6 -
The NI increase will cause a lot of pain I feel. No way most employers won't pass that onto the employee over time.golfaddick said:
I hate all these pre-budget announcements.Rob7Lee said:
I've cut right back on my UK holdings in case the markets react a little, it's becoming clearer as to what's ahead - just how bad we will see!golfaddick said:Only 1 more sleeps. Can't wait.
Friday we had the employer NI increase.
Yesterday it was the bus cap increase.
Today it is minimum wage increase.
No bloody point having a Budget - just announce everything to the press over a week or two.
Always felt Minimum wage set by government was a bit of a turkeys voting to cancel Christmas as it just means more money in the coffers for them predominantly.
Just pensions, IHT and CGT to come! Always save the best to last they say......0 -
And my thoughts on those last 3.......Rob7Lee said:
The NI increase will cause a lot of pain I feel. No way most employers won't pass that onto the employee over time.golfaddick said:
I hate all these pre-budget announcements.Rob7Lee said:
I've cut right back on my UK holdings in case the markets react a little, it's becoming clearer as to what's ahead - just how bad we will see!golfaddick said:Only 1 more sleeps. Can't wait.
Friday we had the employer NI increase.
Yesterday it was the bus cap increase.
Today it is minimum wage increase.
No bloody point having a Budget - just announce everything to the press over a week or two.
Always felt Minimum wage set by government was a bit of a turkeys voting to cancel Christmas as it just means more money in the coffers for them predominantly.
Just pensions, IHT and CGT to come! Always save the best to last they say......
No major changes to pension contributions or TFC but pension fund to be included in your Estate for IHT purposes.
Other IHT changes..........changes to certain reliefs that wont impact 90% of the population, changes or abolition of the property allowance & a few other tinkerings that only affect those with sizable Estates
CGT to be aligned with your marginal rate & maybe even an INCREASE of the annual allowance as a final rabbit out of the hat.0 -
Yep, anybody who has managed to do all right by themselves will end up getting shafted in one way or another be that alive or dead. Governments need to be going after major corporations such as google, amazon etc who swerve tax by offsetting against overseas image rights etc the sums involved would make a huge difference to the public purse. Sorry for the rant.
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Good luck with thatred10 said:Yep, anybody who has managed to do all right by themselves will end up getting shafted in one way or another be that alive or dead. Governments need to be going after major corporations such as google, amazon etc who swerve tax by offsetting against overseas image rights etc the sums involved would make a huge difference to the public purse. Sorry for the rant.0 -
As a small business owner, I am dreading this today.
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I was rather confused on one of your points here. I was reading bus as business. I assume you are literally talking bus fares from £2 to £3? An important one will also be business rate relief, which thousands of hospitality places (pubs and small restaurants) currently get but is due to expire soon (March?).golfaddick said:
I hate all these pre-budget announcements.Rob7Lee said:
I've cut right back on my UK holdings in case the markets react a little, it's becoming clearer as to what's ahead - just how bad we will see!golfaddick said:Only 1 more sleeps. Can't wait.
Friday we had the employer NI increase.
Yesterday it was the bus cap increase.
Today it is minimum wage increase.
No bloody point having a Budget - just announce everything to the press over a week or two.0 -
Time to man the lifeboats.0
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northstandsteve said:As a small business owner, I am dreading this today.
You are right to be concerned, but I have a sneaking feeling that they have painted the blackest picture possible so that the reality is somewhat less so. A sort of 'under promise, over achieve' scenario.
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Stock market not looking good this morning.
Currently down 50 points (0.6%) to 8170.0 -
They all do this all the time. "Phew, it's shit but not as shit as I thought".bobmunro said:northstandsteve said:As a small business owner, I am dreading this today.
You are right to be concerned, but I have a sneaking feeling that they have painted the blackest picture possible so that the reality is somewhat less so. A sort of 'under promise, over achieve' scenario.
Pathetic that the psychology of this approach works really.
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Really pleased I got out owning my own company 18 months ago, especially as I managed to sell my shares to my partner at a decent price.northstandsteve said:As a small business owner, I am dreading this today.1 -
NI the big one, £25bn!
Thought CGT was going to be worse TBH.
2% more for second homes has just killed any entry to BTL - sorry for anyone renting, your rents will be going up even more.
Disappointed (but not surprised) to see pension now fall into IHT - Sounds like I need to spend spend spend or leverage a lot of debt.0 -
BBC website says CGT on additional homes is not changing?Rob7Lee said:NI the big one, £25bn!
Thought CGT was going to be worse TBH.
2% more for second homes has just killed any entry to BTL - sorry for anyone renting, your rents will be going up even more.
Disappointed (but not surprised) to see pension now fall into IHT - Sounds like I need to spend spend spend or leverage a lot of debt.0 -
2% was stamp dutypaulsturgess said:
BBC website says CGT on additional homes is not changing?Rob7Lee said:NI the big one, £25bn!
Thought CGT was going to be worse TBH.
2% more for second homes has just killed any entry to BTL - sorry for anyone renting, your rents will be going up even more.
Disappointed (but not surprised) to see pension now fall into IHT - Sounds like I need to spend spend spend or leverage a lot of debt.0 -
The additional Stamp of 3% is increasing to 5% from tomorrow, not CGT (which remains the same on property)paulsturgess said:
BBC website says CGT on additional homes is not changing?Rob7Lee said:NI the big one, £25bn!
Thought CGT was going to be worse TBH.
2% more for second homes has just killed any entry to BTL - sorry for anyone renting, your rents will be going up even more.
Disappointed (but not surprised) to see pension now fall into IHT - Sounds like I need to spend spend spend or leverage a lot of debt.0 -
AhhRob7Lee said:
The additional Stamp of 3% is increasing to 5% from tomorrow, not CGT (which remains the same on property)paulsturgess said:
BBC website says CGT on additional homes is not changing?Rob7Lee said:NI the big one, £25bn!
Thought CGT was going to be worse TBH.
2% more for second homes has just killed any entry to BTL - sorry for anyone renting, your rents will be going up even more.
Disappointed (but not surprised) to see pension now fall into IHT - Sounds like I need to spend spend spend or leverage a lot of debt.0 -
CGT/inheritance tax changes were not as severe as I feared, but as someone said before - probably by design to make us expect the worse in the build up.0
