The Cashback for Bank or Investment Accounts Discussion Thread

bioboybill

Looks like I've drawn a blank! Opened account via the link on their home page. Selected Amazon shares. Completed the form and selected Stocks option. Completed verification and received email to say verification complete. Downloaded app and  deposited £5K from HSBC using Open Banking on my phone. No shares received. I went on live chat and the boy said I needed to open a ticket. Did that and pop-up said they aim to reply in 2 working days. Email received to say they aim to reply in 14 days!

flaneurs_lobster

granta said:

eToro

And also the stock market will be closed so will they have to wait until market open before awarding the free share?

NASDAQ is open until 2100 GMT

masonic

Rheumatoid said:

masonic said:

Rheumatoid said:

Altior said:

eToro

The only tip I would give to anyone trying from scratch (if using the app), is that if everything else is done correctly, you should have a button on the Home page to fund the account to get your welcome bonus. Use that instead of the Wallet tab. 

As stated I funded it though the Wallet tab, and the funds showed up there, but not on the Home page and the button to complete the last step remained. I didn't want to put another £5K in so I logged out and in to refresh it, the funds then showed up on the Home page successfully, and the button for the last step for the welcome bonus (Microsoft shares) disappeared, but no welcome bonus notification either.

Judging reddit feedback, if you don't get the bonus straight away, you won't get it and support don't resolve. Obviously they will state wait 7 days, but even after 7 days the people impacted are getting no progress. That must have been for a similar promo last year. 

I'm giving them 7 days and then escalating to a complaint and see how it goes.

The welcome gift is only eligible for payment once all of the criteria have been met. One of the criteria is keeping the £5k in there for 90 days. So there would be no grounds for complaint at this stage.

But you could ask if the offer was successfully applied to your account - as it seems not if you didn't see a banner at the top with your progress to the free gift.

No harm in escalating after 7 days to see what they say. 

"(c) The Welcome Bonus is expected to be added to your eToro Account within 7 days after you have fully met the Qualifying Terms set forth above, but there may be situations when this process takes longer (“Bonus Date”)."

Hopefully that does not mean 90+7 and even the agents are saying if eligible it will be credited within the NEXT 7 days.

there was no progress banner when I applied. I just selected MSFT as my reward, opened the account and was verified and then deposited 5k.

EDIT: Just got a sensible agent who reiterated credit will be within next 7 days. He checked my account and confirmed I am eligible. Its just the delay for some that remains a mystery!

It's truly bizarre that the instant (or 7 day in some cases) payout is intentional. Especially given 1(f) gives them the power to withhold when "Such deposited amount must remain in your eToro Account for a minimum of 90 days" is one of the qualifying terms, all of which must be met before payment. But I suppose it is their prerogative not to enforce terms, and I'll not be complaining about that!

Mamma2004 said:

arfster said:

Meh, wish I didn't have etoro already.

I just closed my account (I didn't have any funds in it) and will wait a couple of days, open a new account and see what happens. 

Rumour has it the 30 day time away clause is being enforced.

allegro120 said:

masonic said:

pecunianonolet said:

charlie12525 said:

I have mostly got this to work. Using a VPN by the way.

I am fully verified.

I have £5000 in my GBP wallet and having sold my free MSFT shares I have USD 670 in my Investment account.

I would like to move the USD 670 into my GBP wallet so I can withdraw the lot but I get an error message when I choose "move funds".

Any tips please?

Sounds like you withdrew to the USD wallet instead of the GBP wallet. There is a drop down on the pop up window where you initate the sale and it shows the proceeds. No idea about moving between wallets but if it works you would be bound to eToro exchange rates. Have you tried to withdraw directly from the USD wallet to your bank account and let your bank do the conversion? You could try with 10 USD and see if that works and what happens and if successfull do the rest?

I closed out to the USD wallet and there was a prominent option to transfer between wallets when I went into it.

I also funded through the wallet tab, to address a concern raised above. There was a minute or so delay before the progress bar caught up and recognised my deposit where I was sweating though.

I think I used this option but it still displayed USD, so I withdrew the bonus from USD wallet.  GBP £5000.07 arrived to FD immediately, but the USD bonus didn't.  Is it because of different currency and I should expect it to arrive later? When I typed my bank account details my SWIFT number appeared automatically and it looked like transaction is confirmed. Balance shows zero in both wallets.

Yes, I spotted this when I initially went to withdraw. You have to go in to your USD wallet and transfer to your GBP wallet. I didn't see an option to withdraw everything across the two wallets (probably for the better), but maybe in your case another payment is being sent as an international bank transfer? I certainly didn't see anything other than my standard UK sort code and account number when withdrawing.

soulsaver

TBF if they held the £5k for 90 days (as per terms ?) it would still be a good offer.
I'm only disappointed I just failed at the last second to get it and the bonus out in 5 mins! 

Altior

Just a head's up. I got fed up and tried to pull my money out, my account is 'under review'. I've not done anything wrong obviously as I didn't get the bonus, but the support agent said it was under review due to the welcome bonus. I don't suppose it's because I didn't get it lol. So I can access the account (last time I checked), but can't pull my own funds out.

tg99

Helping my dad do it following the exact same steps as I successfully used. Got the account open on the desktop site and the verified email received. Also the message there on the desktop site saying deposit now to get your asset. So all going to plan. Then downloaded the app with intention of opening the gbp wallet then funding via open banking. However after logging into app it flashed up saying need to verify identity to continue investing so he did that with selfie and passport ID photo and then said all ok and was into the app and could see the deposit funds bit etc. But then it flashed up asking to verify his identity again with exact same request even tho it said was fine when previously did it. He is going to try it again later but wondering if anyone else had this issue as I’ve not see anyone mention in this thread so far?

fabsaver

Alexland said:

clivep said:

Update... Just had text from NatWest to call their fraud team urgently.

Just explain that

1. you are making an unusually large transfer to somewhere you have never used before
2. you have been promised free money if you act quickly
3. you feel compelled after exchanging messages with random internet strangers

I'm sure the fraud team will be fine with that

My £5k deposit transfer was stopped by the fraud team. Trying to explain to them what it was without sounding exactly like the above wasn't easy!

They did release the payment eventually, free shares successfully closed and balance withdrawn within a few minutes of my deposit arriving  Thankfully the incoming withdrawal wasn't also stopped.

winkowinko

My verification took just under 24 hrs.

I can now potentially add the funds, but am getting cold feet.

What's the worst that can happen if I now transfer £5k in? 

Altior

Seems that at least some activity around the welcome bonus is being monitored by the operations team.

The incentive is to sign up and deposit £5K if you can. That's all I have done. Would be a l lot easier with a boring promo code!

But, for now it appears, my cash is trapped for an indeterminate period of time. I'm not fussed about leaving it for 90 days if I get the bonus equity as agreed. 

Rheumatoid

winkowinko said:

My verification took just under 24 hrs.

I can now potentially add the funds, but am getting cold feet.

What's the worst that can happen if I now transfer £5k in? 

If you put it in a GBP wallet I think you could just get it all back out again. 
Don't make the same mistake as me and fund a USD investment account and take an immediate £50 hit on the exchange.