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 in 2022/23, but down to £6,000 in 2023/24.
Freetrade: Free share worth £10
New customers of trading app Freetrade can get a free share worth £10
You need to sign up via this link. You’ll need to fill in a few forms and add at least £50 to the account. You can withdraw this later.
Since there’s a £3 monthly charge for the ISA you’re probably better off with the general investment account.
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. Full terms and conditions are here.
Trading 212: Free share worth up to £100
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.
It’s due to end on 2 March 2023, though could be extended.
Chase x Nutmeg: £100 bonus
If you have a Chase current account you can get a £100 bonus if you join Nutmeg and invest at least £1,000. It’s only for new Nutmeg customers, so if you’ve ever had an account before you’ll miss out.
You need to sign up via the Chase app, and once you’ve activated the Nutmeg app, add the cash before 5 April 2023. If the offer isn’t showing yet, keep checking as it’s being rolled out from the start of February.
You must also keep your money invested with Nutmeg until 30 June 2023. Do this and you’ll get £100 added to your Nutmeg account.
To activate the offer you need to log into Chase and follow the instructions in the “Save & Invest” tab.
Quidco: Cashback via ISAs
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
- Moneyfarm 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 2022).
Make sure you read all the terms and conditions of these accounts, for example you might need to keep investing for a number of months, and there might be exit fees if you take the money out before a set date.
There are often extra bonus cashback rates offered for short periods, often towards the end and the start of a financial year.
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.