How to set up recurring deposits on Trading 212 (fee-free)

Trading 212 is widely regarded as one of the easiest brokers to use when it comes to investing in index funds, shares, and more.

However, there's one thing that can be confusing for people – setting up recurring deposits and investments via fee-free instant bank transfers.

When making a one-off deposit, the fee-less instant bank transfer is very easy to use.

But when you want to make recurring deposits, the option just... isn't there.

There's currently only the option to pay via card or Apple or Google Pay, and both options come with a 0.7% fee (after £2,000 has been deposited).

The good news is that you can deposit on Trading 212 on a recurring basis without incurring deposit fees. It just takes a few extra steps.

And you can automatically invest these deposits into whatever funds or shares you have selected to invest in.

Here's how to do it:

1. Deposit funds

First, deposit the funds that you want to start your investment with. It can be as little as £1. Capital at risk when investing.

Technically you don't have to deposit funds before you start this process, but it's a little neater if you do – otherwise you'll get a warning telling you that the free funds in your account aren't enough for the inital deposit.

2. Create a pie, set it to AutoInvest

Create a pie within Trading 212, or edit your existing pie, and choose 'AutoInvest' rather than 'Manually'.

If you're not sure how to create a pie – or what a pie even is – we've got lots more detail in our guide: Trading 212 tips every investor needs to know.

We're legally required to say: Pies & Autoinvest is an execution-only service, following your own investment decisions. You probably don't know what that means – trust us, we get it. To simplify, it means Trading 212 is not responsible for the performance of your pies/investment portfolio.

3. Set your purchase frequency, date & amount

Set how often you wish to invest into the pie you've created, the date you wish to invest on, and your initial deposit – this is the amount you deposited in step one.

In this example, we've chosen to invest 'monthly' and on the 1st day of each month. The initial deposit was £100 and the ongoing investment is £200 per month.

Check that you're happy with your investment settings, then hit confirm.

4. Choose 'Free funds'

Select the option to invest using 'Free funds' – to use the cash in your Trading 212 account balance as the source of funds.

5. Set up a standing order

The final step is to set up a standing order from your bank. This is done via your bank – not via Trading 212 – so you need to use your banking app or give your bank a call.

Here's how to find Trading 212's sort code and account number for setting up your transfer:

1. Click 'Deposit'
2. Click 'Bank transfer' (not instant bank transfer)
3. Provide your bank details
4. Details will now show: the payment reference you must include, account number, sort code, IBAN, BIC/SWIFT and more
5. Use these details when setting up your standing order in your banking app.

Because we've setup our Trading 212 pie to invest on the 16th of every month in this example, our standing order will be setup to send money on the 25th of each month.

Why the 25th? Well, this simply ensures that the money will always land in our Trading 212 account in time to make the ongoing purchase at the start of each month – factoring in weekends and bank holidays, especially during the short month of February.

Sending a few days before your automatic investment means you avoid any potential slip-ups.

And that's it!

P.S., If you're just starting to explore Trading 212, check out the video below. We cover all the different account types, how to invest in shares and index funds, how to sell your investments and withdraw, and more:

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