London and Sofia based online trading and investing platform Trading 212 has announced that it has completed its automated deposits feature, using Bank on File from TrueLayer. Trading 212 customers in the UK can now invest automatically, straight from their bank account, without logging into their banking app each time.
Bank on File
Bank on File is TrueLayer’s recurring and one-click payment product. It is powered by commercial Variable Recurring Payments (cVRP), which went live in the UK in May 2026 and let customers authorise a business to take payments of varying amounts from their bank account within agreed limits, without re-authenticating each time.
Automated investing
Automated investing has been part of Trading 212’s product roadmap since the launch of ‘Pies’- their flagship AutoInvest feature – but legacy payment rails slowed down the process. Cards bring fees, failed payments and expiry dates. Direct Debit takes days to clear – keeping investor capital sitting idle instead of putting it to work immediately.
Bank on File closes that gap. Customers set up a mandate in their own banking app in under a minute, choose their AutoInvest schedule, and every deposit after that arrives instantly, directly from their bank. No card details, no card expiry, no third party between the customer and their money. Investor funds can also be put to work immediately in the market.
Initial results
Since going live in June, Trading 212 said that results have outperformed expectations:
- 97% of payments succeed. The remainder fail because of insufficient funds, not technology.
- Bank on File’s share of recurring deposits is up more than fivefold in under four months, before any customer marketing.
- All six of the UK’s largest banks are now live.
- Bigger deposits. The average Bank on File payment is more than 50% larger than the average card payment.
Angel Milachkov, Head of Growth at Trading 212, said,
“True automated deposits have been among our top requested features since day one. We pioneered automated investing with Trading 212’s Pies, but the underlying payment rails were never designed for it. With TrueLayer’s Bank on File, the missing piece of the puzzle is finally in place: our investors set their schedule once, and their wealth-building plan executes continuously and seamlessly.”
Francesco Simoneschi, CEO and co-founder of TrueLayer, said,
“Automated deposits are the holy grail of retail investing, and they’ve been so hard to deliver because cards and Direct Debit were built for different jobs. Trading 212 shows what happens when you give people a payment method that just works: no card details to hand over, no expiry dates, just their own bank. They use it, and they invest more.”
Trading 212 now plans to build Bank on File into key moments of its user experience, making it the default way customers fund their investing.
About TrueLayer
TrueLayer, the Pay by Bank network used by more than 30 million people across Europe was founded in 2016 by Francesco Simoneschi and Luca Martinetti. We power smarter, safer and faster online payments by combining real-time bank payments with financial and identity data. Businesses use our products to onboard new users, accept money and make payouts in seconds, and at scale.
About Trading 212
Trading 212 is a fintech company on a mission to unlock wealth building for everyone. Known for disrupting the industry with zero-commission investing, intuitive technology, and innovative financial products, the platform offers stocks, ETFs, savings accounts, and debit cards to millions of clients across the UK and Europe.
Trading 212 is controlled by Bulgarian entrepreneurs Borislav Nedialkov and Ivan Ashminov. The company is run day-to-day by London based CEO Mukid Chowdhury.
