Interactive Investor (Stocks and Shares ISA/SIPP etc.)

sairy.gamp

With the ISA season/new tax year almost upon us, some who are considering opening a new account might be interested to know that Interactive Investor now have a refer a friend offer on. The details are on the Referral forum here:
https://forums.moneysavingexpert.com/discussion/6251959/interactive-investor-stocks-and-shares-isa-sipp-etc-refer-a-friend-promotion#latest
Save your self £120 quid

masonic

Terms here: https://www.ii.co.uk/ii-for-friends/customer

The real saving can be as little as £24 as you lose out on the 12 trading credits worth £96. Account needs to be funded with £10k, which can include transfers.

sairy.gamp

masonic said:

Terms here: https://www.ii.co.uk/ii-for-friends/customer

The real saving can be as little as £24 as you lose out on the 12 trading credits worth £96. Account needs to be funded with £10k, which can include transfers.

Not of great concern though if you intend to trade infrequently as many do of course. But a point well made.
Yer pays yer money...

masonic

sairy.gamp said:

masonic said:

Terms here: https://www.ii.co.uk/ii-for-friends/customer

The real saving can be as little as £24 as you lose out on the 12 trading credits worth £96. Account needs to be funded with £10k, which can include transfers.

Not of great concern though if you intend to trade infrequently as many do of course. But a point well made.
Yer pays yer money...

This would be fine for someone holding a single multi-asset fund and in the accumulation phase, as regular investing is free. But it seems like an unbalanced offer on the part of ii. Such things as referral splits cannot be discussed on the thread in question, but if I was a new customer looking to avail myself of this offer I'd be thinking along those lines...

anxiousnow

AJ Bell has a similar offer.

sairy.gamp

sairy.gamp said:

With the ISA season/new tax year almost upon us, some who are considering opening a new account might be interested to know that Interactive Investor now have a refer a friend offer on. The details are on the Referral forum here:
https://forums.moneysavingexpert.com/discussion/6251959/interactive-investor-stocks-and-shares-isa-sipp-etc-refer-a-friend-promotion#latest
Save your self £120 quid

Additionally, those considering a SIPP can benefit further to the tune of £60. When transfering, your free 6 months does NOT start until your transfering funds actually reach the account. From II Website:
https://www.ii.co.uk/ii-accounts/sipp#offer

• The SIPP fee is just £10 a month extra, bringing the total cost to £19.99 per month. (Special offer: Open a SIPP by 31 March and pay no SIPP fee until October 2021).

masonic

sairy.gamp said:

sairy.gamp said:

With the ISA season/new tax year almost upon us, some who are considering opening a new account might be interested to know that Interactive Investor now have a refer a friend offer on. The details are on the Referral forum here:
https://forums.moneysavingexpert.com/discussion/6251959/interactive-investor-stocks-and-shares-isa-sipp-etc-refer-a-friend-promotion#latest
Save your self £120 quid

Additionally, those considering a SIPP can benefit further to the tune of £60. When transfering, your free 6 months does NOT start until your transfering funds actually reach the account. From II Website:
https://www.ii.co.uk/ii-accounts/sipp#offer

• The SIPP fee is just £10 a month extra, bringing the total cost to £19.99 per month. (Special offer: Open a SIPP by 31 March and pay no SIPP fee until October 2021).

Yes the SIPP offer has been around a while and it is not contingent on being referred. Not sure ii could be considered cheap in the longer term for a SIPP though.

sairy.gamp

@masonic HL charge 0.45% PA unless your pot is quite large when this reduces on a tier basis. On 10K, II charge no basic charge under this offer for the first 12 months (+ no SIPP fee either for 6mths.).
The SIPP offer is not contingent on any referral as you say and is open for all to enjoy

Alexland

Claiming in the big print that the new customer is getting a year's free service worth £120 is very misleading when removing the trade credits of nearly equivalent value deep in the small print. II are just building on their existing reputation for sharp business practices.

We'll stick with the cheaper option of Fidelity on the capped/free SIPP/child accounts and iWeb for the ISAs.

IvanOpinion

Alexland said:

building on their existing reputation for sharp business practices.

Can't say I have heard any reference to this reputation before now??

masonic

IvanOpinion said:

Alexland said:

building on their existing reputation for sharp business practices.

Can't say I have heard any reference to this reputation before now??

Perhaps a reference to the stifling of competition within the market by aggressively buying up any small competitors?