Bestinvest is launching a transfer draw with a cashback of up to £1,000
Bestinvest is launching a transfer draw with a cashback of up to £1,000
- New and existing customers qualify for the transfer contract
- A transfer of £100,000 would bring in £1,000, while £1,000 would bring in £100
- The offer runs for almost three months from September 4th to November 30th
Online platform Bestinvest is launching a draw for up to £1,000 cashback for transferring new accounts to the platform.
New and existing customers can receive a cashback amount depending on the size of the investment accounts transferred and the remaining investment period of at least six months.
Those who transfer accounts worth £1,000 will be entitled to a refund of £100 – a 10% increase in contribution. Meanwhile, those who switch their accounts worth £100,000 will receive £1,000.
Bestinvest has launched an autumn cashback transfer campaign, offering up to £1,000 to move an account
For new account transfers you will receive £300 cashback for £20,000 deposited and £600 cashback for £50,000 deposited.
Savers must transfer their investment accounts in full and the offer is valid for just under three months, from September 4th to November 30th.
It’s per person, so a family of four who transfer accounts into each of their names could potentially earn up to £4,000 in one go.
What’s in the fine print?
To qualify for Bestinvest’s transfer draw, at least £1,000 must be transferred and invested in funds and stocks of the customer’s choice before November 30 this year and then held in the account for six months until May 31, 2024.
The money must be transferred to a Bestinvest general investment account, Isa, Junior Isa or Sipp, and invested immediately.
To claim the cashback, customers must fill out a form on the Bestinvest website and provide their account number by November 30 at the latest.
Bestinvest will determine the final premium amount and then contact the intermediaries to confirm the amount and how it will be used.
For example, those who have an investment account will receive the cashback directly into their account, and the same applies to those who have a stocks and shares Isa, a junior Isa or a Sipp if they have any unused Isa or pension withdrawals left over .
Once they have exhausted their pension and ISA allowances, the cashback bonus will be paid into a bank account.
Oliver Plant, director of Bestinvest, said: “In these difficult financial times, everyone would appreciate a helping hand. That’s why we hope this offering will encourage investors to find a new home for their investments and add some oomph to their portfolio.”
“Cashback of up to £1,000 can provide a small boost to lackluster portfolios that need to get back on track.”
“Financial markets, particularly stocks, can be volatile in the short term, but have historically delivered much higher real returns over the long term – that is, returns that exceed the effect of inflation.”
“We recommend a time horizon of at least five years or more, as this allows the money invested to weather short-term market volatility.”
Compare the best DIY investing platforms and stocks and shares Isas
Online investing is easy, affordable and can be done from your computer, tablet or phone at a time and place that suits you.
When it comes to choosing a DIY investment platform, Stocks & Shares Isa or general investment account, the range of options can seem overwhelming.
Each provider has a slightly different offering, charging more or less fees for trading or holding stocks and providing access to a different selection of stocks, funds and mutual funds.
When choosing the right provider for you, it is important to consider the service offered, as well as the management and trading fees, as well as any other additional costs.
To help you compare the best investment accounts, we’ve gathered the facts and put together a comprehensive guide to choosing the best and cheapest investment account for you.
We highlight the key players in the table below, but encourage you to do your own research and consider the points in our full guide linked here.
>> This is Money’s complete guide to the best investment platforms and Isas
The platforms featured below are independently selected by This is Money’s specialist journalists. If you open an account through links marked with a star, This is Money will receive an affiliate commission. We will not allow this to affect our editorial independence.
| administration fee | Fee information | Fund trading | Standard stock, trust and ETF trading | Invest regularly | Dividend reinvestment | ||
|---|---|---|---|---|---|---|---|
| AJ Bell* | 0.25% | Maximum £3.50 per month for stocks, trusts and ETFs. | £1.50 | £9.95 | £1.50 | £1.50 per deal | More details |
| Bestinvest* | 0.40% (0.2% for finished portfolios) | Account fee for ready-made investments reduced to 0.2% | Free | £4.95 | Free for funds | Free for income funds | More details |
| Charles Stanley Direct | 0.35% | No platform fee on stocks when trading this month and the annual maximum is £240 | Free | £11.50 | n/a | n/a | More details |
| Loyalty* | 0.35% on funds | £7.50 per month up to £25,000 or 0.35% with regular savings plan. Maximum of £45 per year for shares, trusts and ETFs | Free | £7.50 | Free funds for £1.50 shares, trust ETFs | £1.50 | More details |
| Hargreaves Lansdown* | 0.45% | The cap is £45 for shares, trusts and ETFs | Free | £11.95 | £1.50 | 1% (min £1, max £10) | More details |
| Interactive investor* | £4.99 per month under £50,000, £11.99 over, £10 extra for Sipp | £3.99 per month back in free trading credit (not applicable on £4.99 plan) | £3.99 | £3.99 | Free | £0.99 | More details |
| iWeb | £100 one-off | £5 | £5 | n/a | 2%, maximum £5 | More details | |
| Accounts with some restrictions but attractive offers | |||||||
| Etoro* No Isa or Sipp | Free | The investment account offers stocks and ETFs. Beware of risky CFDs in the trading account | Not available | Free | n/a | n/a | More details |
| Free trade* No investment funds | Free for the Basic account, £4.99 per month for the Standard account and Isa £9.99 for the Plus account | Freetrade Plus with more investments and Sipp costs £9.99/month including Isa fee | No funds | Free | n/a | n/a | More details |
| Vanguard Vanguard proprietary products only | 0.15% | Vanguard funds only | Free | Free Vanguard ETFs only | Free | n/a | More details |
| (Source: ThisisMoney.co.uk September 2023. The % administration fee can be charged monthly or quarterly | |||||||