Chase - Nutmeg £100 opening bonus

Band7

Yes you can but you do have to invest your £1,000 to qualify for the £100. If you choose a low risk investment, you can reasonably expect not to lose much, if anything, of your £1,000. Though there are no guarantees, your risk is further lowered by the bonus money. So even if your investment drops, due to market conditions and charges, by 10%, you’d still break even

 Depending on where things are in July, you may or may not want to sell and withdraw then

flaneurs_lobster

If you are more interested in the "free" £100 rather than the investment opportunity then it would make more sense to delay joining Nutmeg until just before 5 April when the offer finishes. 

Of course this does reduce the time that your investment may have had to rise in value. Or not.

PloughmansLunch

flaneurs_lobster said:

…Of course this does reduce the time that your investment may have had to rise in value. Or not.

I think at the current rate I would have been better off investing in prawn cocktail crisps

flaneurs_lobster

PloughmansLunch said:

flaneurs_lobster said:

…Of course this does reduce the time that your investment may have had to rise in value. Or not.

I think at the current rate I would have been better off investing in prawn cocktail crisps

...or turnip futures.

retiringtoosoon

PloughmansLunch said:

flaneurs_lobster said:

…Of course this does reduce the time that your investment may have had to rise in value. Or not.

I think at the current rate I would have been better off investing in prawn cocktail crisps

Pension, then Isa, then PB, THEN prawn cocktail crisps.

meat_n2_reg

Hello have been using chase current account for approx a year and have been happy with it as my 2nd current account 
Never used any investment products and have seen the £100 cashback when signing up with Nutmeg 
I have no ISA allowance to use this year so thinking that I will need to set up a General Investment product 
I am not planning to keep the General Investment open long term , opening to get the £100 bonus 

Not sure if I would need a fixed or managed product and thinking of a risk level of 2/5 

Just wondering what people had set up / and advice appreciated 

Many thanks 

meat_n2_reg

Also how easy it to withdraw money can you do this in chase or nutmeg app ?

EDIT found can withdraw from website but not app 


Many thanks 

Kaizen917

meat_n2_reg said:
Not sure if I would need a fixed or managed product and thinking of a risk level of 2/5 

Just wondering what people had set up / and advice appreciated

I personally used the 1/5 risk but both are pretty close and not wrong to use. Given there is always a chance that equities end up in some short term bull run towards the time that you get the bonus, even going 5/5 is a plausible option that actually makes you some bonus return(if you feel like going that route).

Also went for the passive 0.45% fee option - you shouldnt need to worry about rebalancing if you only keep this funds for a few months.

RobertKr

I saw the same info about promotion (mid last week) in my chase app so I clicked in the app on the open nutmeg acc button and then had all going (GIA account, £1k paid in etc). However I never received any more info about bonus nor I dont see anything about it in the nutmeg app, is it normal?. Should I just wait till end of june for £100 bonus?

where_are_we

RobertKr said:

I saw the same info about promotion (mid last week) in my chase app so I clicked in the app on the open nutmeg acc button and then had all going (GIA account, £1k paid in etc). However I never received any more info about bonus nor I dont see anything about it in the nutmeg app, is it normal?. Should I just wait till end of june for £100 bonus?

I was apprehensive like you. I sent a secure message via "nutmail" for confirmation of eligibility of £100 bonus and they replied in the affirmative fairly quickly.