£50 Cashback with NatWest or RBS Invest

Zanderman

Can't see this already posted, apols if it is.
NatWest and RBS have launched (again) their offer of £50 cashback for new investments - minimum £250 invested, £50 cashback in November (when you can close the account).
Can be ISA or GIA.  Needs to be opened in July 2020.  Minimum initial pay in 100 plus monthly 50 until October.  Need to have a NatWest or RBS current account.
Details at 
https://personal.natwest.com/personal/investments.html#cashback-offer
T&C at 
https://personal.natwest.com/content/dam/natwest/personal/investments/documents/offer-terms/nwtc.pdf

Zanderman

RBS version here:  
https://personal.rbs.co.uk/personal/investments/royal-bank-invest.html#cashback-offer

And terms here:
https://personal.rbs.co.uk/content/dam/royal_bank_of_scotland/personal/investments/documents/rbtc.pdf

The offer wording (same for NatWest and RBS, this is from RBS):

Take advantage of our Cashback offer!

Act now!

1. Start with an initial investment of at least £100 between 1-31 July 2020

2. Set up regular monthly contributions by 31 August 2020

3. Continue to make regular monthly contributions until 31 October 2020

4. We'll then pay you £50 in November 2020 provided that you have met the terms of the offer. 

This offer is available to first time Royal Bank Invest customers only. Ts&Cs apply.

We may withdraw this offer before 31 July. 

grumiofoundation

I presume nothing to stop you getting cashback from both? Doesn't seem to be anything in the Ts and Cs that stops this (believe there was for RBS/Natwest switching offer?).

colsten

I think you need an RBS current account for the RBS offer, and a NW one for the NW offer.

Elmer_BeFuddled

Trying it...

ischris85

I note there are fees for using the platform.

burner03

Did this last time so gather I’m ineligible to get it again.

Zanderman

ischris85 said:

I note there are fees for using the platform.

Well there would be.  All investments have fees. 
The only issue to consider, surely, is whether the NatWest/RBS fee structure is somehow higher than others.
But as the only commitment is to stay invested until November the fees won't make much impact. 

I'm giving this a go - didn't bother last time the offer was made.
But only doing the minimum and only the lowest risk fund!

kaMelo

Not unlike the Wahed offer from previous years although the extra £50 month makes it less attractive. 
£250 invested for £50 bonus, I guess the gamble is will the amount invested drop 20% or more. Not impossible in normal times and in current times who knows what will happen. 
For a bit of balance, I still hold the Wahed Invest (Invest £100 for six months for £50 bonus)  and like everything else it took a beating earlier this year but it bounced back, it's now higher than it was pre-pandemic. As such I'd say that while possible it's very unlikely this would result in an overall loss. I already have RBS and NatWest current accounts so I think I may just go for it.
Likewise minimum amount but might up the risk a little, after all what's life without a little fun

Mrc44

Can you go for this alongside having already paid into a s&s isa this current tax year? 

Thanks 

st182

Mrc44 said:

Can you go for this alongside having already paid into a s&s isa this current tax year? 

Thanks 

I believe so, if you open the "GIA" (general investment account) as the OP put it, then that is not under ISA restrictions but is liable for tax.