The instant bank transfer allows you to deposit money faster than a bank wire, usually within minutes rather than 2-3 business days.
How do I request an Instant Bank Transfer?
To learn how to do so, check the video here or follow these steps 👇
- Tap on Deposit funds and select Instant bank transfer
- Choose the amount
- Select your bank from the list of supported banks
Who are instant bank transfers available to?
- GBP accounts registered under Trading 212 UK Ltd.
- EUR accounts of German residents registered under Trading 212 Markets Ltd.
📄 Note
The option is currently being gradually rolled out. At the moment, instant bank transfers are available to a limited percentage of German residents registered under Trading 212 Markets Ltd.
What are the limitations of open banking transfers?
- An instant bank transfer must be initiated through the Trading 212 app in order for it to be executed successfully.
- The list of available banks is determined by the collaboration between TrueLayer and the corresponding banks and cannot be modified or expanded by Trading 212.
Withdrawals are processed within the standard timeframes - up to 2-3 business days.
How do I troubleshoot instant bank transfers?
If you're having trouble initiating an instant bank transfer, try the following steps to ensure a smooth app-to-app connection:
- Ensure your Trading 212 app is updated to the latest version.
- Update your banking app to the latest version.
- Set Chrome (Android) or Safari (iOS) as your default browser.
- Attempt the transfer again.
If the issue persists:
- Contact your bank to confirm there are no restrictions or issues on their end.
- If your bank confirms everything is fine, please record a short video showing the steps.
How does this affect deposits to ISA accounts?
- Any funds received after 23:59 on 5 April will count towards the next tax year’s ISA allowance.
- To ensure your deposit is processed instantly, follow the correct deposit flow when using Instant Bank Transfer.
- If the correct process is not followed, your funds will be received as a standard bank transfer, which results in a delay of up to three business days.