Investment firms often give incentives like free cash to get you to give them your cash. Here are a few I’ve spotted.
These offers are extra cash payments and freebies you can get via starting an investment. I’m only sharing these promotions as a way to get some free cash.
If you are wanting to invest for the best returns then I’d recommend you do your research and look elsewhere as these won’t necessarily have the lowest fees.
Also, if you open up a stocks and shares ISA for one of these promotions then you won’t be able to pay into another one in this financial year (it resets on 6th April). You can still open up a Cash ISA, though you’ll likely get better interest rates elsewhere.
When you open these accounts you can open up an ISA and a general investing account. If you haven’t already got an investment ISA for this financial year, and you don’t plan to do so before 5 April, then that’s the best account for you as any gains you make will be tax free.
If you have one already then don’t open a new one, opt instead for the general investing account. In this account you’ll only pay tax on profits after selling your share if it brings you over the Capital Gains Allowance – which is £12.300 a year (so you should be fine!).
Freetrade: Free share worth up to £200
New customers of trading app Freetrade can get a free share worth between £3 and £200. The share I received was worth £13.
You need to sign up via this link. You’ll need to fill in a few forms and add at least £1 to the account. You can withdraw this later.
The free share will be added to your account within seven to 10 days. Once you’ve got it you can sell it or keep it.
Trading 212: Free share worth up to £100 (paused)
*New customers currently paused – I’ll update when this changes *
This promo code will give you (and me) a free share on the Trading 212 app. The value of the share is up to £100.
When I signed up my freebie was for General Electric and valued at $10.70, which converted to £7.92.
To get the free share you need to sign up by this link and then add £1 to your account within seven days. You can keep that in the account and choose to invest it (or more), or you can withdraw it.
It took about three days for the share to be added after adding the £1. You can sell your free share as soon as you get it, but it will take 30 days for you to receive the cash. Or you can keep it invested.
Quidco: £200 ISA bonus
If you sign up for an investment ISA via Quidco you will be able to earn some cashback. Among the providers you can choose between are:
- Scottish Friendly Investment ISA,
- Scottish Friendly Junior ISA,
- Shepherds Friendly Junior ISA,
- Shepherds Friendly Stocks & Shares ISA,
- Foresters Friendly Society,
- Fidelity Stocks and Shares ISA
You’ll only be able to open up one of these ISAs if you haven’t already paid into a Cash ISA in this financial year (since April 6 2021).
Make sure you read all the terms and conditions of these accounts, for example there’s an increased £200 cashback on top of this bonus from Scottish Friendly ISA.
This ISA requires you to pay in £50 a month for at least a year. £200 back on £600 would mean you get just over 33% of your total investment. If you can afford this it sounds good right?
Yes… but you need to factor in a £50 charge if you withdraw the cash within 5 years. That drops your total bonus to £150 – a still healthy 25%.
Plus you’ll hopefully make some money on your investment, though there will be small fees too.
Again, this is a great hack to get bonus cashback. If your priority is investing you might want to consider other platforms.
With Scottish Friendly you’ll also get access to further deals (see below).
Scottish Friendly: discounts at retailers
Open an ISA with Scottish Friendly and you’ll get access to “Friendly Rewards” which offers discounts at cinemas, shops, restaurants and more. I use it to get 6% off each time I do the shopping at Waitrose. There’s also the chance of cashback on top.