Online platform Bestinvest is launching a giveaway of up to £1,000 cashback for new account transfers to the platform.
New and existing customers can receive a cashback sum that is dependent on the size of the investment accounts transferred and the money remaining invested for a minimum of six months.
Those transferring accounts worth £1,000 qualify for £100 cashback – a 10 per cent increase on the contribution. Meanwhile, those switching accounts worth £100,000 receive £1,000.
Bestinvest has launched an Autumn Cashback Transfer campaign offering up to £1,000 for moving an account
New account transfers will receive £300 cashback for £20,000 transferred in, £600 cashback on £50,000 transferred in.
Savers must transfer their investment accounts in full and the offer is available for just less than three months, running from 4 September until 30 November.
It applies per person so a family of four that transfers accounts in 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 giveaway, a minimum of £1,000 must be transferred and invested in funds and shares of the client’s choice before 30 November this year and then held in the account for six months until May 31, 2024.
The money must be moved to a Bestinvest general investment account, Isa, Junior Isa or Sipp and invested straight away.
To claim the cashback, clients must complete a form on Bestinvest’s website including their account number no later than 30 November.
Bestinvest will work out the final reward sum and then contact switchers to confirm the amount and how it will be applied.
Those with investment accounts, for example, will receive the cashback directly into their account, and so will those who have a stocks and shares Isa, Junior Isa or Sipp if they have unused Isa or pension allowances remaining.
If they have maxed out their pension and Isa allowances, then the cashback reward will be paid into a bank account.
Oliver Plant, head of Bestinvest, said: ‘Everyone likes a helping hand in these financially difficult times, so we hope this offer will encourage investors to find a new home for their investments and inject some momentum into their portfolio.
‘Cashback of up to £1,000 can deliver a mini boost to lacklustre portfolios that need to get back on track.
‘Financial markets, especially equities, can be volatile over short-term time periods, but have historically delivered much higher real returns – that is returns that beat the effect of inflation – over the long-term.
‘We recommend a time horizon of at least five years or more, as this allows money invested to ride out any short-term market volatility.’
Compare the best DIY investing platforms and stocks & shares Isas
Investing online is simple, cheap 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 investing platform, stocks & shares Isa or a general investing account, the range of options might seem overwhelming.
Every provider has a slightly different offering, charging more or less for trading or holding shares and giving access to a different range of stocks, funds and investment trusts.
When weighing up the right one for you, it’s important to to look at the service that it offers, along with administration charges and dealing fees, plus any other extra costs.
To help you compare the best investment accounts, we’ve crunched the facts and pulled together a comprehensive guide to choosing the best and cheapest investing account for you.
We highlight the main players in the table below but would advise doing your own research and considering the points in our full guide linked here.
>> This is Money’s full guide to the best investing platforms and Isas
Platforms featured below are independently selected by This is Money’s specialist journalists. If you open an account using links which have an asterisk, This is Money will earn an affiliate commission. We do not allow this to affect our editorial independence.
| Admin charge | Charges notes | Fund dealing | Standard share, trust, ETF dealing | Regular investing | Dividend reinvestment | ||
|---|---|---|---|---|---|---|---|
| AJ Bell* | 0.25% | Max £3.50 per month for shares, trusts, ETFs. | £1.50 | £9.95 | £1.50 | £1.50 per deal | More details |
| Bestinvest* | 0.40% (0.2% for ready made portfolios) | Account fee cut to 0.2% for ready made investments | Free | £4.95 | Free for funds | Free for income funds | More details |
| Charles Stanley Direct | 0.35% | No platform fee on shares if a trade in that month and annual max of £240 | Free | £11.50 | n/a | n/a | More details |
| Fidelity* | 0.35% on funds | £7.50 per month up to £25,000 or 0.35% with regular savings plan. Max £45 per year for shares, trusts, ETFs | Free | £7.50 | Free funds £1.50 shares, trusts ETFs | £1.50 | More details |
| Hargreaves Lansdown* | 0.45% | Capped at £45 for shares, trusts, ETFs | Free | £11.95 | £1.50 | 1% (£1 min, £10 max) | More details |
| Interactive Investor* | £4.99 per month under £50k, £11.99 above, £10 extra for Sipp | £3.99 per month back in free trading credit (does not apply to £4.99 plan) | £3.99 | £3.99 | Free | £0.99 | More details |
| iWeb | £100 one-off | £5 | £5 | n/a | 2%, max £5 | More details | |
| Accounts that have some limits but attractive offers | |||||||
| Etoro* No Isa or Sipp | Free | Investment account offers stocks and ETFs. Beware high risk CFDs in trading account | Not available | Free | n/a | n/a | More details |
| Freetrade* No investment funds | Free for Basic account, £4.99 per month for Standard with Isa £9.99 for Plus | Freetrade Plus with more investments and Sipp is £9.99/month inc. Isa fee | No funds | Free | n/a | n/a | More details |
| Vanguard Only Vanguard’s own products | 0.15% | Only Vanguard funds | Free | Free only Vanguard ETFs | Free | n/a | More details |
| (Source: ThisisMoney.co.uk Sept 2023. Admin % charge may be levied monthly or quarterly | |||||||
