The Cashback for Bank or Investment Accounts Discussion Thread

wmb194

tg99 said:

For anyone who is planning on keeping the £5k in etoro for the 90 days in a money market fund, which one are you using? I can’t see QUID as being available on etoro so may do CSH2 though will need to check the spread during market hours to decide if worth it (especially as think etoro spreads might be a bit wider than on likes of II, HL, Fidelity etc based on a few shares I checked on Friday).

I'm using ERNS.L iShares GBP Ultrashort Bond UCITS ETF. The indicated price on eToro was way off but the actual price when executed was as per the live price I could see elsewhere.

To avoid fees, make sure you change the dropdown in the execution dialogue box to tell it to use your GBP wallet to make the purchase.

Aretnap

Aretnap said:

tg99 said:

Has anyone else made their £5k deposit today? Dad did and since the market is closed (Inc etoro’s extended hours trading) then rather than the free share being credited there is a pending order for £500 Microsoft. I assume this will thus execute on Monday and the free share will come into his account. However, his available cash is now £4500 so looks like they have ringfenced £500 of his £5k for the order. I assume that eToro will use their own funds to buy the share on Monday and the available cash will revert back to £5k post trade execution.

Did this yesterday evening. Seeing the same thing. Will see if it rights itself on Monday before I start compliant that I didn't actually want to buy £500 of Microsoft shares with my own money. 

Well this is more like it



Shares sold and £5495ish (after an FX fee) withdrawn to current account.

So it still works, just has to be inside (extended) trading times.

GetRichOrDieSaving

Great, all the confirmation I need to proceed thank you. 

Did you deposit via the home page on the app or via wallet? 

Nick_C

Congratulations to everyone who cashed in their share and has been able to withdraw funds.

I didn't receive the free share, and I've been trying to get my money back since Friday.  After 52 hours trying to contact them on chat, I finally got a real person who gave me a reference number, but could not tell me why I could not withdraw funds.  I booked a phone call with them for 09:30 today, but they have not called me.

Absolutely terrible customer service.  Deal with this company at your own risk.

sheffieldeagle

Hi

Can someone tell which account I should 'close' into please?

Many thanks

bioboybill

I'm also  getting messed about still by E-Toro. I 're dived a message to say I could contact my account Manager on Whatsapp, so I did that. My account manager wasn't available, but spoke to another manager who said he could confirm I was registered for the £500 offer, but said I did have to move the money to USD investment account to trigger offer. I reluctantly did that and it cost me nearly £30. He also said shares could take up to 7 business days. No shares received, and they stopped answering chat!

GetRichOrDieSaving

Without intending to rub salt into numerous wounds, but it’s worked a treat for me this morning following the original instructions. The only difference I made selecting NVDA shares incase someone internally was looking at Microsoft signup offers due to most following suite of this example stock. 

I opened my account on Saturday and deposited this morning and withdrew original deposit + share sale value within minutes. 

Altior

bioboybill said:

I'm also  getting messed about still by E-Toro. I 're dived a message to say I could contact my account Manager on Whatsapp, so I did that. My account manager wasn't available, but spoke to another manager who said he could confirm I was registered for the £500 offer, but said I did have to move the money to USD investment account to trigger offer. I reluctantly did that and it cost me nearly £30. He also said shares could take up to 7 business days. No shares received, and they stopped answering chat!

I received a call from them just now, so that they can remove the restrictions on my account.

Pretty standard stuff, why did I open the account, is anyone asking me to do stuff et al. Interestingly I suppose, it appears it was just a general security measure. She said it wasn't about the welcome bonus, but she did say I'd need to move my funds into the USD investment account to get the welcome bonus. That is nonsense of course, and why would I convert GBP into USD to purchase GBP securities! I'm assuming the issue there is that my GBP wallet is locked at the moment, due to the restrictions.

This would cost £60 to find out and everything I've read suggests that if you don't get the bonus straight away, you don't get it. So my intention now is to close the entire account and try again if the offer (or similar) is repeated. 

Update email:
Please note that until we receive this information, access to certain features of your GBP account (aka eToro Money account) will be temporarily limited, and your eToro investment account will be limited, so that deposits, withdrawals, and opening new positions will not be available.

So yes now I have to jump through hoops to get the account restrictions removed. They appear to think the account I was trying to withdraw to is a third party (even though it is in my name!).

sheffieldeagle

sheffieldeagle said:

Hi

Can someone tell which account I should 'close' into please?

Many thanks

Sorted used GDP as previous posts advised. All done this morning. Just wanted to thank the OP for this. I can now buy my new push iron.

Cheers

tg99

tg99 said:

Has anyone else made their £5k deposit today? Dad did and since the market is closed (Inc etoro’s extended hours trading) then rather than the free share being credited there is a pending order for £500 Microsoft. I assume this will thus execute on Monday and the free share will come into his account. However, his available cash is now £4500 so looks like they have ringfenced £500 of his £5k for the order. I assume that eToro will use their own funds to buy the share on Monday and the available cash will revert back to £5k post trade execution.

As expected, the Msft order was executed shortly after 1am when extended hours trading opened and the £500 ringfenced from his £5k was ‘released’ or credited back such that the available cash now that the share has been sold is £5494.