Earn up to £400 in cashback when you open a new account with Bestinvest this Autumn

At a time when every pound matters and making your money work as hard as it can is key, Bestinvest, the online investment and coaching service, is launching a new giveaway for the UK’s army of Do-It-Yourself investors - those who make their own investment decisions - to help their investments stretch even further.

The Bestinvest cashback offer rewards both new and existing customers with up to £400 when they deposit £10,000 or more in a new account this Autumn – delivering a mini-boost to investment portfolios as investors strive towards meeting their financial goals.

In the first offer of its kind from Bestinvest, the investment platform that revamped its service in May with new features such as free investment coaching, digital risk assessment, new low-cost managed portfolios and goal planning tools, self-directed investors can now receive money back on their deposits.

The more they contribute to the new account the bigger the reward with those transferring between £10,000 and £19,999.99, for example, receiving £100 while deposits of £40,000 or more secure the biggest payout of £400 - a 1% uplift on the contribution.

As the offer applies per account rather than per customer, investors have the potential to earn up to £1,200 in cashback if they open multiple accounts – for example, depositing £40,000 into an Investment Account, a further £40,000 into a Best SIPP and transferring £40,000 into an ISA. If investors also transfer £40,000 into their children’s Junior ISAs or a spouse’s ISA, SIPP or Investment Account, the sum could be even higher for a family.

Jason Hollands, Managing Director at Bestinvest, said: “We hope this offer will encourage investors to inject some momentum into their investment portfolio in what has proven to be a turbulent year for the markets triggered by surging inflation, rising interest rates and Russia’s invasion of Ukraine.

“Cashback of up to £400 is a bonus in this era of high inflation and declining real incomes – when purchasing power is being tested to the max. Once the lump sum has been deposited or transferred, those with the capacity to invest further would be wise to consider investing on a regular basis.

“While investment markets can be volatile over the short term, history suggests this is one of the best ways of delivering inflation-beating returns over the long term. When the headlines are gloomy, this often provides opportunities for long-term investors – though it never feels like that at the time. Regularly drip-feeding cash into the markets helps smooth out the short-term gyrations.”

To qualify for this limited time offer, new and existing customers must open a new account – such as a Bestinvest Stocks & Shares ISA, Best SIPP or Investment Account – by the end of October and then fund it with £10,000 or more.

Next, they must send an email to offers@bestinvest.co.uk quoting promotion code BestCashbackAutumn22 and including their account number no later than November 30 this year.

Qualifying accountholders will receive the cashback reward around six months from the end of the promotion with the amount paid dependent on how much was deposited in the account when the offer was live and then retained over a six-month period*.

While Investment Accounts and Stocks & Shares ISAs can receive the cashback directly, Best SIPP, and ISA holders that have reached their tax allowance limits, can have their reward paid into a verified bank account.

The offer comes just four months after Bestinvest, with its almost 40-year track record of helping DIY investors reach their financial goals, relaunched its offering with a range of new value-added services to help novice and seasoned investors make the most of their money.

This included lower fees, free investment coaching with a qualified financial planner – whether investors are a customer or not – bite-sized investment advice packages at a low fixed cost, a new range of low-cost Ready-made Portfolios that invest through passive instruments and advanced goal planning tools that allow investors to simulate their journey towards a chosen financial target such as retirement.

Separately, Bestinvest’s existing promotion of free investment advice** for customers that transfer more than £50,000 will continue to run until the end of the year***.

Under this offer, DIY investors can either choose to reassess their holdings with a free Portfolio Health Check with a qualified investment professional worth £495, or check they are still on track to hit their financial goals with a free Investing for your Goals session worth £295 with a qualified financial planner.

Hollands added: “Our suite of offers not only reward self-directed investors with cashback but can also deliver a fresh perspective on how to fine tune holdings and assess their attitude towards risk as they strive to hit an investment goal.” 

Notes:

* From October 31 to April 30, 2023

** To redeem the free investment advice offer, existing and new customers must deposit or initiate a transfer of £50,000 by December 31, 2022, Advice can only be given once the transfer is complete. Customers must redeem their advice session within three months. Please quote the promo code NEWTRANSFERADVICE to your adviser to redeem the offer.

*** Eligible customers can only choose one offer – cashback or free investment advice.

This briefing does not constitute advice nor a recommendation relating to the acquisition or disposal of investments. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication.

Investment does involve risk. The value of investments and the income from them can go down as well as up. The investor may not receive back, in total, the original amount invested. Past performance is not a guide to future performance. Rates of tax are those prevailing at the time and are subject to change without notice.

Clients should always seek appropriate advice from their financial adviser before committing funds for investment. When investments are made in overseas securities, movements in exchange rates may have an effect on the value of that investment. The effect may be favourable or unfavourable.