u/NathanS0207

For context I live in Australia and the current interest on my bank savings account is 5%, and Trading 212 just announced they are increasing interest in Australian Investment Accounts to 5.2%

So with this information, transferring all my savings into Trading 212 seems like a smart thing to do on the surface, and use that to grow interest instead.

My question is pretty much what am I missing, if anything? Is it risky doing this, should I use my trading account as a savings account or is this the start of a bad idea? Any thoughts, please let me know!

Already posted this on the Trading 212 sub but would love some thoughts from here!

For context I live in Australia and the current interest on my bank savings account is 5%, and Trading 212 just announced they are increasing interest in Australian Investment Accounts to 5.2%

So with this information, transferring all my savings into Trading 212 seems like a smart thing to do on the surface, and use that to grow interest instead.

My question is pretty much what am I missing, if anything? Is it risky doing this, should I use my trading account as a savings account or is this the start of a bad idea? Any thoughts, please let me know!