Hargreaves Lansdown cashback

phlebas192

masonic said:

phlebas192 said:

masonic said:

Those T&C do appear to have a glaring hole in them that there is no minimum six month holding period mentioned corresponding to the statement made by MSE. That would seem to be a major error on their part and if taken to be the actual terms in force, it looks like you can empty your account as soon as you've received the incentive.

Let us know how you get on.

Got the cashback notifications today. I added £20k and haven't made any withdrawals, got £40 as expected. My wife added £30k total (some immediately, some only a couple of weeks ago) and transferred £20k of it to her HL S&S ISA earlier this week. She's got the advertised £60 cashback.

Are either of you now planning to reduce your balance below the £5k minimum specified by MSE, but not in the HL T&C?

We're not intending to but I don't see your point. The offer had nothing to do with MSE so in this context, MSE is just some random 3rd party website and should be treated as such. HL have awarded the cashback based on their own T&Cs. What more can be said?

masonic

phlebas192 said:

masonic said:

phlebas192 said:

masonic said:

Those T&C do appear to have a glaring hole in them that there is no minimum six month holding period mentioned corresponding to the statement made by MSE. That would seem to be a major error on their part and if taken to be the actual terms in force, it looks like you can empty your account as soon as you've received the incentive.

Let us know how you get on.

Got the cashback notifications today. I added £20k and haven't made any withdrawals, got £40 as expected. My wife added £30k total (some immediately, some only a couple of weeks ago) and transferred £20k of it to her HL S&S ISA earlier this week. She's got the advertised £60 cashback.

Are either of you now planning to reduce your balance below the £5k minimum specified by MSE, but not in the HL T&C?

We're not intending to but I don't see your point. The offer had nothing to do with MSE so in this context, MSE is just some random 3rd party website and should be treated as such. HL have awarded the cashback based on their own T&Cs. What more can be said?

The offer did have something to do with MSE. HL and MSE entered into an agreement by which MSE would drive customers to HL for this offer using an affiliate link, and no doubt received its own incentive for doing so. HL provided MSE with details of what customers needed to do to comply with the offer. That apparently included a term that it may reclaim the cashback awarded if the balance does not stay above the £5k minimum for six months, whereas the terms they provided to customers omitted this. We do not know whether or not HL intended for this term to be in the customer T&Cs or if it will act as if the term was in those T&Cs should anyone reduce their balance below the £5k minimum.

When I said "it looks like you can empty your account as soon as you've received the incentive. Let us know how you get on." I was under the impression you intended to do that. If you do not intend to reduce your balance below £5k in the first six months, then your update is of no value in determining this.

My only interest is in understanding more about the nature of this mix up, given everything that has gone wrong with the other HL offer, specifically, will HL attempt to claw back the cashback for those customers who reduce their balance below the £5k minimum within six months, based on the conditions it supplied to MSE and contrary to the HL-consumer T&C? Noting that it breached its own T&C regarding its other investment incentive.