Hargreaves Pension Cashback

WillowCat

Pat38493 said:

When do you get the cash back credit?

Unlike last year, which was really slow, mine came through very quickly. 

I registered for the transfer offer on Nov 21st, the transfer was processed (from Aegon) and I got an email through on 6th December that my bonus was in my account.  I logged on that evening to request it be paid to my bank account and that was done on the 7th December.

Pat38493

WillowCat said:

Pat38493 said:

When do you get the cash back credit?

Unlike last year, which was really slow, mine came through very quickly. 

I registered for the transfer offer on Nov 21st, the transfer was processed (from Aegon) and I got an email through on 6th December that my bonus was in my account.  I logged on that evening to request it be paid to my bank account and that was done on the 7th December.

So there is no tie in period you could just get the bonus and then transfer straight back out again?

gambleruk

Pat38493 said:

WillowCat said:

Pat38493 said:

When do you get the cash back credit?

Unlike last year, which was really slow, mine came through very quickly. 

I registered for the transfer offer on Nov 21st, the transfer was processed (from Aegon) and I got an email through on 6th December that my bonus was in my account.  I logged on that evening to request it be paid to my bank account and that was done on the 7th December.

So there is no tie in period you could just get the bonus and then transfer straight back out again?

No you have to leave it in for 12 months, my cashback took a couple of months to appear for the record.

foofi22

Pat38493 said:

WillowCat said:

Pat38493 said:

When do you get the cash back credit?

Unlike last year, which was really slow, mine came through very quickly. 

I registered for the transfer offer on Nov 21st, the transfer was processed (from Aegon) and I got an email through on 6th December that my bonus was in my account.  I logged on that evening to request it be paid to my bank account and that was done on the 7th December.

So there is no tie in period you could just get the bonus and then transfer straight back out again?

5. We ask you keep your HL account(s) for at least one year from the date that the last qualifying transfer completes. Please feel free to switch between investments and in or out of cash within your account, but if you decide to transfer any portion of your receiving account away or close your account within 12 months of the date your last qualifying transfer completes, then we reserve the right to reclaim the cashback paid. If cash is to be reclaimed, then you will be notified, and the cash will be taken within 7 days of the account closure or transfer out.

Albermarle

Pat38493 said:

WillowCat said:

Pat38493 said:

When do you get the cash back credit?

Unlike last year, which was really slow, mine came through very quickly. 

I registered for the transfer offer on Nov 21st, the transfer was processed (from Aegon) and I got an email through on 6th December that my bonus was in my account.  I logged on that evening to request it be paid to my bank account and that was done on the 7th December.

So there is no tie in period you could just get the bonus and then transfer straight back out again?

The T's & C's say the bonus will be paid when the transfer is complete, so if an in specie transfer then when the last one is transferred. This could be a matter of 2 or 3 weeks, or months if there is an issue. Then you have to stay with them for 12 months after the bonus is paid.
Then you can look to who is offering a transfer cashback at that time. Or just leave it with HL for a while.

Albermarle

artyboy said:

Yep I'll be doing this again (made £1500 from their last promotion), plus an ISA as well this time. In fact Mrs Arty will be doing the same, together that will make us £5k, which in the scheme of things is very easy money.

It will all be held in ETFs to keep the fees down...

Fair to say I'm becoming a bit of an old pro at this game 

Although it does not always work out.
About 18 months ago I transferred a cash ISA to HL S&S ISA and got a cashback ( £250?)
Currently it is showing an 8% loss, whereas if left as a cash ISA it would have gained about that much......

To be fair I did not do the transfer just for the cashback, but still.

bownyboy

I've recently seen this offer and have decided to take it up. Me and my wife both have an ISA and SIPP with ii both in Vanguard FTSE Global All Cap.

As part of the transfer options we can sell the OEIC fund and reinvest in the Vanguard Global All Cap ETF instead to cap costs at £45 p/a as I understand it.

Seems like a no brainer and means we can get £2,500 cashback each.

NedS

bownyboy said:

I've recently seen this offer and have decided to take it up. Me and my wife both have an ISA and SIPP with ii both in Vanguard FTSE Global All Cap.

As part of the transfer options we can sell the OEIC fund and reinvest in the Vanguard Global All Cap ETF instead to cap costs at £45 p/a as I understand it.

Seems like a no brainer and means we can get £2,500 cashback each.

The cap for a HL SIPP is £200/year (£16.66/month) for shares, ITs and ETFs. 

HL ISAs are capped at £45 for shares, ITs and ETFs.

There is no combining of accounts like some other platforms, so you will pay fees as appropriate on each individual account.

bownyboy

NedS said:

The cap for a HL SIPP is £200/year (£16.66/month) for shares, ITs and ETFs. 

HL ISAs are capped at £45 for shares, ITs and ETFs.

There is no combining of accounts like some other platforms, so you will pay fees as appropriate on each individual account.

Thanks. I'd just read this too. So total cost of £245 a year for and ISA and SIPP compared to £263 for ii.

ColdIron

bownyboy said:

NedS said:

The cap for a HL SIPP is £200/year (£16.66/month) for shares, ITs and ETFs. 

HL ISAs are capped at £45 for shares, ITs and ETFs.

There is no combining of accounts like some other platforms, so you will pay fees as appropriate on each individual account.

Thanks. I'd just read this too. So total cost of £245 a year for and ISA and SIPP compared to £263 for ii.

Yes, as long as you avoid funds