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

Zanderman

gingercordial wrote: »

Just checked - yes I have £2.50 sitting as cash.

Me too. £2.50 cash and a purchase of Franklin Global Sukuk USD W Dis currently worth £96.20.

bxboards

For me I have £42.50 as cash and £57.72 in the Franklin (they bought 58.50 originally)

overlyconcerend

Has their been any customisation for risk at all?

All my money (baring £2.50) has been invested in Franklin Global Sukuk USD W Dis and was allocated the 'Very Conservative Portfolio' option based on my questionnaire responses.

I can't find much information online about this fund but it seems morning start list it as 'average' risk - potential mis-selling?

bxboards

overlyconcerend wrote: »

Has their been any customisation for risk at all?

All my money (baring £2.50) has been invested in Franklin Global Sukuk USD W Dis and was allocated the 'Very Conservative Portfolio' option based on my questionnaire responses.

I can't find much information online about this fund but it seems morning start list it as 'average' risk - potential mis-selling?

Hmmm..it looks to me like everyone is being put into Franklin, and they are managing the 'risk' element via the proportion of cash held vs. invested.

overlyconcerend

Just had confirmation that they'll honour the £100 (£50 + £50) bonus.

Took a couple of weeks of back and forth and I had a screen shot of the T&C, which helped.

Thank you for your patience and apologies for the delayed response.

We will honour the £100 Eid Gift. Based on the terms and conditions, the eligibility applies by the following:
1. Deposit at least £100 into your Wahed account
2. When the funds have been invested into your account, no withdrawals must be made for the first 30 calendar days.
3. After 30 calendar days from the date of the funds being invested, Wahed will transfer £50.00 back to the Bank account where the funds were transferred from.
4. If you deposit £50.00 to your Wahed account after we transfer the Promotion cashback to your bank account, we will transfer another £50.00 within business days to your bank account.

Thank you for choosing Wahed Invest, happy investing!
Thanks,

Wahed Support

overlyconcerend

bxboards wrote: »

Hmmm..it looks to me like everyone is being put into Franklin, and they are managing the 'risk' element via the proportion of cash held vs. invested.

But surely the lowest risk option would be a high percentage retained as cash? I've got 97.5% invested and chose the lowest risk option.

bxboards

overlyconcerend wrote: »

But surely the lowest risk option would be a high percentage retained as cash? I've got 97.5% invested and chose the lowest risk option.

I'm still at £41.50 (41.93%) cash in mine. I'd tend to select medium risk profiles for this sort of thing, but don't recall for sure.

As on the surface they only appear to be using 1 fund going by the admittedly small pool posting here, I cannot at this point see how else they manage risk.

But I don't disagree - I'd assume a higher risk profile would hold fewer cash reserves.

overlyconcerend

Received a PM asking for the T&Cs:

https://i.postimg.cc/gJC4F4Lz/Screen_Shot_2018-08-30_at_23.36.58.png

https://i.postimg.cc/pLWCHmrF/Screen_Shot_2018-08-30_at_23.37.07.png

https://i.postimg.cc/PqB1PJXK/Screen_Shot_2018-08-30_at_23.37.54.png

karlie88

Thanks for the links overlyconcerned.

I contacted them to clarify whether I will get the £50 bonus. They confirmed (after a few days) that I will be getting the 2 x £50 bonus as per the terms.

I also asked when the bonus will be paid as it's due any day now; rather annoyingly, they said that they extended their Eid bonus to allow deposits up until 30th Sept, so bonuses will now be paid from 1st Nov. I do not recall them updating their terms to reflect this. I also haven't been communicated this change up until my email.

For now, I'm happy they've agreed to the increased bonus and will wait patiently another month. I'm 80% hopeful.

gingercordial

karlie88 wrote: »

Thanks for the links overlyconcerned.

I contacted them to clarify whether I will get the £50 bonus. They confirmed (after a few days) that I will be getting the 2 x £50 bonus as per the terms.

I also asked when the bonus will be paid as it's due any day now; rather annoyingly, they said that they extended their Eid bonus to allow deposits up until 30th Sept, so bonuses will now be paid from 1st Nov. I do not recall them updating their terms to reflect this. I also haven't been communicated this change up until my email.

For now, I'm happy they've agreed to the increased bonus and will wait patiently another month. I'm 80% hopeful.

Interesting. Just before investing I contacted them and they said it would be 2 x £25. I wonder if they will automatically pay the 2 x £50 or will I have to argue?

Remember in that case the amount that must be reinvested for the further bonus is £50 not £25...