Hello, investor! This article provides an in-depth look at the Trading 212 Cashback program, a feature tied to the recently introduced Trading 212 Card. Trading 212, renowned for its user-friendly investment platform, now offers this Mastercard-backed debit card that rewards users with cashback on their purchases.
The Trading 212 Cashback program offers cashback on everyday purchases, providing users with the flexibility to reinvest these rewards. New users can also receive a free fractional share worth up to £/€100 by signing up with the Trading 212 promo code: IITW.
In this review, we will cover how the Trading 212 Cashback works, its features, benefits, limitations, and more. Let’s dive in!
Key features & benefits
- Cashback rewards: Earn 1.5% cashback on all purchases until January 1, 2025. After this period, the rate adjusts to 0.5%, capped at £20 (€23) per month;
- Easy management: Track your cashback via the Trading 212 app;
- No monthly fees: Enjoy the benefits without incurring extra charges;
- Enhanced security: The card features EMV chip technology, PIN protection, and 3D Secure;
- Multi-currency wallet: Hold and spend in 13 supported currencies;
- Protection scheme: Protection for assets and cash up to £85,000 for UK residents and up to €20,000 for EU residents.
How does the Trading 212 Cashback work?
First, you’ll need to open an account with Trading 212. If you’re looking to get a free fractional share worth up to £/€100, use the Trading 212 promo code: IITW when signing up.
Once your account is set up, you’ll need to request the Trading 212 Card. After obtaining the card, you’ll be eligible for the Trading 212 card’s cashback benefits.
Here’s how the cashback program works for UK and EU investors:
- UK investors
The Trading 212 Cashback program rewards UK users with 1.5% cashback on eligible purchases made with the Trading 212 Card.
This 1.5% rate is a limited-time offer available to UK investors until October 1, 2024. After this date, the cashback rate will be adjusted to 0.5%.
Cashback is credited daily to your main balance once the transaction status updates to ‘Completed’, which may take a few days depending on the merchant.
- EU investors
The Trading 212 Cashback program rewards European users with 1.5% cashback on eligible purchases made with the Trading 212 Card.
This 1.5% rate is a limited-time offer available to UK investors until January 1, 2025. After this date, the cashback rate will be adjusted to 0.5%.
Cashback is credited daily to your main balance once the transaction status updates to ‘Completed’, which may take a few days depending on the merchant.
Is there any catch?
Yes and no. While the offer is attractive, the cashback you can earn is capped. This means that if you spend more than the capped amount, you will not earn any additional cashback until the next month.
For UK investors, the cashback is capped at £20 per month. This means that even if you spend enough to earn more, you will only receive up to £20 in cashback each month.
For EU investors, the cashback cap is €23 per month. Similarly, even if your spending qualifies for more cashback, you will only receive up to €23 each month.
Is Trading 212 Cashback available in my country?
Currently, the Trading 212 Cashback program is available to UK and European residents who hold a Trading 212 Invest account.
For more details and updates on Trading 212’s expansion plans, please visit the Trading 212 website.
How do I receive Trading 212 Cashback?
- Make a purchase: Use the Trading 212 Card for point-of-sale (POS) or online transactions;
- Transaction completes: Wait for the transaction status to change from ‘Pending’ to ‘Completed’;
- Cashback credited: The cashback amount is automatically added to your main balance daily.
How do I check my earned Trading 212 Cashback?
- Open the Trading 212 app: Navigate to the Card tab;
- View cashback details: Under “Your cashback”, you can see the total received cashback;
- Transaction details: Tap on “More” to view exact cashback details for each transaction.
Does Trading 212 Cashback work at every merchant?
No, certain merchant categories are excluded from the cashback program, including but not limited to:
- Money transfers;
- Financial institutions;
- Quasi-cash transactions (e.g., casino chips, cryptocurrencies);
- Gambling;
- Investment firms;
- Utility services;
- Insurance;
- Real estate management;
- Digital services (e.g., computer programming services, systems design, website design);
- Fines and taxes;
- Government services.
For a full list of exclusions, please visit the Trading 212 website here.
How to get the Trading 212 Card Cashback?
For detailed instructions on how to get the card, including step-by-step guidance, fees, pros and cons, and more, visit our comprehensive article here. This guide will walk you through everything you need to know to start taking advantage of the Trading 212 Card Cashback.
Security and protection
Trading 212 keeps customer funds separate from its own, maintaining this high level of protection across all its subsidiaries. This means that in the unlikely event of the company becoming insolvent, your funds will remain unaffected and can be easily transferred to another broker.
Furthermore, Trading 212 is regulated by renowned authorities such as the FCA, CySEC, and ASIC. For more detailed information about Trading 212, please refer to our comprehensive Trading 212 Review, where we provide an in-depth analysis of the broker.
Moreover, key security features include:
- EMV Chip technology: Provides enhanced security for your transactions;
- PIN protection: Safeguards your card with a personal identification number;
- 3D Security: Adds an extra layer of protection for online transactions;
- Zero-liability fraud protection: Ensures you are not held responsible for unauthorized transactions.
Trading 212 Interest on uninvested cash
Trading 212 also offers an attractive interest rate on uninvested cash held in your Invest account, allowing you to earn interest in thirteen different currencies, including GBP (5.15%), EUR (3.7%), and USD (4.6%).
If you want to learn more about the Trading 212 uninvested cash offer, check out our detailed article.
Bottom line
In summary, the Trading 212 Cashback program is a valuable addition to the Trading 212 ecosystem, offering users a seamless way to earn rewards on everyday spending.
If you’re already a Trading 212 user and prioritize convenience and cashback, this card could be an excellent fit.
However, potential users should consider whether the cashback cap and the requirement to fund spending from their investment account align with their needs.
For more information about Trading 212 and its offerings, check out our detailed review of the Trading 212 platform.
And remember, by signing up with the Trading 212 promo code IITW, you can receive a free fractional share worth up to £/€100.
Hope we helped, and feel free to get in touch if you want to share feedback or have any questions!