EXPIRED - Wahed Invest - £50 bonus (Eid gift) for £100 investment (potentially a £100 bonus)

karlie88

NOW EXPIRED

Would appreciate opinions on this but it seems good on the face of it. £50 bonus on a £100 investment within 7 weeks-ish. No minimum investment term if I'm not mistaken so can withdraw once you've been paid the bonus.

Terms/offers are not clear - the main page states you can get up to £50 but the bonus terms are worded in a way that indicates you'll get £100 bonus.

Offer ends tomorrow 11.59pm.

So...

..invest £100 into a GIA. Wait 30 days. Get £25 bonus (or £50 bonus) straight into your current account. Re-invest your bonus money back into your GIA. Wait 7-14 working days. Get another £25/£50 bonus into your current account. Withdraw £125ish/£150ish from GIA.

Please do correct me if I'm wrong.

https://campaign.wahedinvest.com/eiduk?campaignid=1509750141

(Google 'Wahed Invest bonus' and click on the ad campaign link).

stphnstevey

Where are the terms of the bonus?

Voyager2002

Capital at risk!

On the face of it, this seems like Moneyfarm or Wealthify: not a bad offer, but industry standard to attract customers to this kind of investment.

chockydavid1983

It certainly looks like the other similar offers but will be interested to hear others' thoughts. I can only assume that the main page is correct and the bonus is £50 (perhaps it used to be £100 at one point but that hasn't been updated)

sjp999

Wasn't Eid a few weeks back? Might explain the differing offer.

Shedman

The terms are certainly unclear. Front page talks about £25 bonus followed by another £25 later on but the T&Cs link talks about £50 and £50. But as has been said the lock-in period doesn't look to onerous so I'll probably have a go for it tomorrow. 50% potential upside so would seem to have to be a bit of a disaster not to come out ahead.

bxboards

I had a look at this - the site seems broken and throws up and error after you enter the postcode for the ID check

"We're sorry but there has been an error
Our engineers have been notified of the issue and it'll be fixed shortly.

Return Home or Contact Support"

If sites can't get the basics right and have a signup process that works, I don't trust them enough with my money. I'm out.

Shedman

chockydavid1983 wrote: »

It certainly looks like the other similar offers but will be interested to hear others' thoughts. I can only assume that the main page is correct and the bonus is £50 (perhaps it used to be £100 at one point but that hasn't been updated)

Or it could be that they have increased the offer and not updated the offer loading page? The T&Cs are confusingly entitled EID £50 cashback offer but then go on to state that the offer is £50 & £50 and is available until 31 Aug and, as their hyperlink on the offer page points you to those T&Cs, there would be a strong argument that they would need to stand by those T&Cs.

Guess one would only find out if you went for it. Still trying to decide.

EDIT: just noticed when googling for reviews on Wahed that they offered a $100 bonus last year in US. Perhaps someone cut and pasted those T&Cs and just changed $ to £ but forgot to amend the amount :undecided

Viking_mfw

The error is in the automatic address lookup. If you enter your address manually there is no problem.

Zanderman

It's not entirely clear how you get money out if want to withdraw some:

Which method is available for withdrawals?
You can only withdraw funds through wire transfers. To request another method kindly contact us using the contact us page.

Which system do they mean by 'wire transfer'? There might be a cost.

And their faqs are somewhat confusing on other matters of detail. For instance the minimum investment is consistently stated as £100 (indeed this offer is for a min £100) but their faqs, re their fees, state:

What are the charges levied for your services?
Wahed Fees are based on the amount you initially invest:
£500 - £249,999 - 0.99%
£250,000+ - 0.49%

So what are the fees for £100?

Edit The sign-up pages have an info box that says:

Wahed fees change depending on amount.
Investment amount Wahed fees
£100 - £249,999 0. 99%
£250,000+ 0.49%

Which is better, but still worrying that they can't be consistent.

bxboards

Viking_mfw wrote: »

The error is in the automatic address lookup. If you enter your address manually there is no problem.

Sure. but its about getting the basics right. They haven't.

Trust is essential, hard to win, easily lost.

If that part doesn't work, what else is broken?

Bargepole time for me. Coupled with contradictory bonus T&Cs and mentions of wire transfers (which is US focused language not common UK English)

Too many red flags for me.