Scottish Friendly Investment ISA £200 cashback with Quidco

gord115

Just had an email from Quidco offering £200 cash back if you invest £50 per month in a Scottish Friendly Investment ISA.

From the looks of it there is a £50 penalty for early withdrawal so maybe worth while once you get cashback.

Ends 23.59 Wednesday.

Any thoughts?

SPOWER

Don't touch with a bargepole.

I was with Civil Service Friendly which became something else and then became Engage Mutual.

I paid in £3000 over 10 years and got back £3100.


Don't touch it with a bargepole.

Alexland

My view is that it's best not to get involved in such opaque "with profits" investments as the charges are high and the adjustments should you end the plan early are completely out of your control. They are basically buying you with your own money.

Rich2808

SPOWER wrote: »

Don't touch with a bargepole.

I was with Civil Service Friendly which became something else and then became Engage Mutual.

I paid in £3000 over 10 years and got back £3100.


Don't touch it with a bargepole.

I agree their Bond product - which has these high charges (i.e. your cash in value in the early years is zero) but their investment ISA only has a 0.5% annual management charge.

You get the £200 cash back once you have invested £170 in premiums.

Not saying this is the best stocks and shares isa generally - but it is not to be confused with their Scottish bond

PS I won't provide any links to prove this as it might track!

gord115

Thanks everyone.
I won't bother.

louloubelle79

At the moment Topcashback are offering £120 cash back if you open a UK tracker ISA and put in £30 a month.