Monument (Cash ISA)

General Fintech
1

Quick user-experience for anyone wondering:

  • 60 seconds to create account
  • Nano-seconds to receive SMS alert after both deposit and withdrawal
  • Transfer request a breeze
  • Easy to see flexible allowance remaining
  • Very fast app - no stupid clutter, though I wish I could kill the lingering membership option
  • Test mail to CS answered intelligently within 24 hrs

Just hope they don’t ruin the app…and that they update the stale News / Blog sections on web: Better to not have at all if you’re not going to update.

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2

Yep, the transfer-in option was active in my app today (been waiting for that). Txfer started…:relieved:

3

Ah, I took the title to mean Child ISA so didn’t look any further.

Time to transfer over my Moneybox ISA as it is due to drop to 3.75% next month from 4.66%, both being lower than Monument’s rate.

4

Yes - apologies.
Graham’s amended it…

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5

In my case it’s my Trading 212 that’s going.

6

I have initiated mine now. Hardest part was finding the account number for my Moneybox Cash ISA.

Means I will lose the 1% bonus on my Simple Saver interest rate, but that only facilitates £2pm DD for my NatWest Reward account anyway.

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7

Interesting - I had to contact Moneybox to find my unique account reference. :face_with_raised_eyebrow:

8

Unfortunately (or fortunately, for me), that is one I am stuck with as the balance is spread between three providers, whereas to move it out to Monument would put me uncomfortably over the £85k protection figure.

Both Monument and Trading212 only deal with FULL transfers, not partial. At some point I may have to “play” with my sum in T212 and move to an independent provider from where I can split it into smaller sums.

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9

Important point. I’m hoping the rumours about upping the limit to £100k later this year becomes a reality.

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10

I’m sure that Trading 212 allow partial transfers in.

Monument do state that they support partial transfers out, though not in as you mention above.

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11

Useful to know.

12

You are correct.

I have misread the relevant condition which in fact refers to the transfer of stocks, when making the transfer of the entire ISA portfolio,

Part can be used via cash transfer.

Thank you for challenging my comment :+1:

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13

Confirmation today that my Moneybox Cash ISA is on the way to Monument Bank.

Also “advice” that if it continues, I will not be able to open a new Cash ISA with Moneybox.

They have frozen deposits to the ISA (understandably) and I must Chat To Us if I change my mind.

Thankfully, I was already aware of that, thanks to contributors on the MSE forum.

Not a problem :smile:

14

Monument has now deleted Trading 212 from its provider list. Pity they didn’t bother informing those of us looking to txfer out.

15

Yeah I saw that. Sending my funds via another provider.

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16

I wonder why …

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17

I noticed that other banks are specifically asking for hard copy transfer forms from those customers with T212 accounts.

18

That’s dispiriting - if T212’s a kind of e-pariah.

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19

I reckon it’s a consequence of ISAs being a new business development for them.

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20

Anecdotal information from MSE forum:

"Monument have confirmed they’ve removed Trading 212 from the list due to the volume they’ve received to ensure they can meet the timelines. "

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