Best Invest Cash Back

Lawrence152

Best Invest are offering, what appears to be, a generous cash back deal. If you transfer an existing fund into Best Invest you get up to £1,000 cash back. does anyone have any views on the deal?

artyboy

It's basically the same deal they have run before - I'm waiting on my £1000 from that but won't happen till after October.

Personally I wouldn't consolidate a lot with these guys as their charges are on the high side. But you can still 'make a turn' on the cashback, which is the game I'm playing

SamDude

I had the same thought about Moneyfarm and their TCB offer - decided against it when I worked out the fees vs cashback...
Thread: https://forums.moneysavingexpert.com/discussion/comment/80263617

friolento

https://app-uks-prod-bestinvest-website.azurewebsites.net/media/b3ldhmot/2023-09-04-transfer-cashback-offer_30_8_23.pdf

orange-juice

Tempted. i currently have a tiny pot with Vanguard which I might transfer across. Does anyone how long does this normally take? Are my investments usually sold and transferred as cash or transferred in specie (BI also offer the same fund)

I noticed BI seems to have various offers on TCB but it does t seem like you can stack the two offers together.

flopsy1973

Also tempted have over 250k with hl which I am eventually going to transfer to my  iweb just thought while it still with hl get some cashback or would I be better to transfer it all over to iweb now 

meinnit

The wording on the offer states "transfers in full". Does that mean you can't do a partial transfer?

Any new Bestinvest customer or existing client who initiates account transfers in full between 4 September 2023 and 30 November 2023 and invests it, is eligible for a cashback payment (“Reward”)

Albermarle

orange-juice said:

Tempted. i currently have a tiny pot with Vanguard which I might transfer across. Does anyone how long does this normally take? Are my investments usually sold and transferred as cash or transferred in specie (BI also offer the same fund)

I noticed BI seems to have various offers on TCB but it does t seem like you can stack the two offers together.

Answer to the question in bold is, that it depends on which method you request. Cash transfers are much quicker but leave you out of the market for a few days. IN specie can take weeks or months.

orange-juice

Albermarle said:

orange-juice said:

Tempted. i currently have a tiny pot with Vanguard which I might transfer across. Does anyone how long does this normally take? Are my investments usually sold and transferred as cash or transferred in specie (BI also offer the same fund)

I noticed BI seems to have various offers on TCB but it does t seem like you can stack the two offers together.

Answer to the question in bold is, that it depends on which method you request. Cash transfers are much quicker but leave you out of the market for a few days. IN specie can take weeks or months.

Thanks, I ended up doing this last week and went with the transfer as cash option. Just waiting for BI to accept the transfer in.

Beddie

Based on my experience, expect slow service, delays and uncaring "customer services" at Bestinvest. Even the platform feels a bit flaky and unprofessional.

artyboy

Beddie said:

Based on my experience, expect slow service, delays and uncaring "customer services" at Bestinvest. Even the platform feels a bit flaky and unprofessional.

Yep, that's been my experience. Once I get my cashback they won't see me for dust. If they were super cheap I could forgive the poor service to an extent, but not when they are charging 0.4% for up to £250k