Wealthify* Free £75+ investment – just put in at least £75 for a year.

artyboy

MX5huggy said:

artyboy said:

MX5huggy said:

tracyyi said:

MX5huggy said:

tracyyi said:

Bridlington1 said:

Your initial £75 investment would be protected by the FSCS, although it could've increased or decreased in value depending on how the investment performed so you may get less (or more) than the £75 back. You wouldn't get the £75 bonus if Wealthify was to cease trading though.

It was £50 as I remember.

May is worth ding it, myself one account and my partner one account.

They’ve upgraded it to a minimum of £75 up to £1000 but there’s only for 3500 customers.

https://forums.moneysavingexpert.com/discussion/comment/80111687#Comment_80111687

Do you mean if I invest £1,000, will get cash back £1,000 after 1 year?

As I know is min £75, get £75 after 1 year.

No to get £1000 you need to invest £100000! There’s a sliding scale between £75 and £100k investment. So there is £100 for a £1000 investment (same as Nutmeg/Chase offer which is closed). 

No because the referral is only paid if they pay in £250/month for at least 3 months. This is all clearly set out on their website - have you actually taken the time to read it properly?

As for me, I'm no fan of robo investing, but for £75, it's a worthwhile punt for a year.

@artyboy it’s getting fairly confusing now but there seems to be 2 offers I’m talking about the MSE sign up bonus not referrer a friend https://www.wealthify.com/campaigns/money-saving-expert-get-between-75-1000-cashback-when-you-invest-75-or-more?ref=msecb-msejune751000cb23&utm_source=money_saving_expert_cashback&utm_medium=affiliate&utm_campaign=get-75-1000-cashback

there’s no monthly funding requirement just the total amount invested in 6 month’s dictates bonus after 12 months. 

My apologies, I had intended to quote the OPs last post but somehow got yours instead, so it's me adding to the confusion here! I've already deleted my comment, which may or may not help 

Anyway, I'm clear enough on the terms and happy to take the free £75

subjecttocontract

There is no free £75.
It works like this......you invest £75 and after 12 months you are guaranteed to get your £75 back plus any increase in value. If the value has fallen you will still get your £75 back less 57p in charges.

artyboy

subjecttocontract said:

There is no free £75.
It works like this......you invest £75 and after 12 months you are guaranteed to get your £75 back plus any increase in value. If the value has fallen you will still get your £75 back less 57p in charges.

YES. THERE. IS!

https://www.wealthify.com/campaigns/money-saving-expert-get-between-75-1000-cashback-when-you-invest-75-or-more?ref=msecb-msejune751000cb23&utm_source=money_saving_expert_cashback&utm_medium=affiliate&utm_campaign=get-75-1000-cashback

masonic

subjecttocontract said:

There is no free £75.
It works like this......you invest £75 and after 12 months you are guaranteed to get your £75 back plus any increase in value. If the value has fallen you will still get your £75 back less 57p in charges.

This doesn't make sense at all. If the value has fallen, say by £5, your final outcome would be a lot more than £75 less 57p in charges.

subjecttocontract

Perhaps I have misunderstood the term 'cashback', it's not a term I'm familiar with. I'll take another look at the MSE website where I first read about it.

boingy

It's free cash on top of your investment. So if a £75 investment gains and loses nothing after a year you'll end up with £150 minus fees in the account, which you are then free to withdraw, invest or add to. I imagine Wealthify hope some of us will do the latter.

Bridlington1

boingy said:

It's free cash on top of your investment. So if a £75 investment gains and loses nothing after a year you'll end up with £150 minus fees in the account, which you are then free to withdraw, invest or add to. I imagine Wealthify hope some of us will do the latter.

It's a useful DD to be fair and quite easy to change your nominated account so I've spent most of the time since I took up their £50 offer adding £1 or £2 to it every 1-2 weeks for the sake of satisfying reward accounts's DD requirements. 

subjecttocontract

boingy said:

It's free cash on top of your investment. So if a £75 investment gains and loses nothing after a year you'll end up with £150 minus fees in the account, which you are then free to withdraw, invest or add to. I imagine Wealthify hope some of us will do the latter.

Thank you.
If only the MSE website had described the offer as succinctly as you I would have had no trouble understanding. Using a word like 'cashback' that doesn't exist in the Oxford Dictionary is likely to cause me problems.

artyboy

subjecttocontract said:

boingy said:

It's free cash on top of your investment. So if a £75 investment gains and loses nothing after a year you'll end up with £150 minus fees in the account, which you are then free to withdraw, invest or add to. I imagine Wealthify hope some of us will do the latter.

Thank you.
If only the MSE website had described the offer as succinctly as you I would have had no trouble understanding. Using a word like 'cashback' that doesn't exist in the Oxford Dictionary is likely to cause me problems.

Other dictionaries (and University cities) are available  

https://dictionary.cambridge.org/dictionary/english/cashback

But in all seriousness, the word has been in common usage for decades - I think it first popped up when supermarkets started letting you withdraw up to £50 cash against your debit card when paying for your groceries... 

subjecttocontract

The supermarket example is a genuine cash back. But there is no actual cash involved with the Wealthify offer.