The Cashback for Bank or Investment Accounts Discussion Thread

TheElectricCow

topyam said:

Is the etoro deal still working? Wondering if it is worth doing

Yes, have done it this morning, absolutely worthwhile if you have the funds available and are fortunate enough not to run into any additional checks/have to contact CS.

Took me about an hour in total (only 15min for the whole affair on the etoro side, another 45 pratting about with NatWest trying to amend the default payment limit of £2000). Still, just under £500 for one hour of effort is more than worth it in my view, especially compared to bank switching offers which tend to be less generous and with extra hoops to jump through.

GetRichOrDieSaving

Thinks it’s worth mentioning the obvious here on behalf of the OP that anyone attempting this eToro offer do so at the own risk knowing that it may not work and your deposit could get tied up in the system for an unknown period due to laundering checks, customer service issues etc. 

From what I’ve gathered, it’s worked for most but even so many have had issues either receiving the free shares (nothing gained or lost) or not received their free shares and had there account/deposit withheld with little resolve
from customer services. 

The question is can you go without that £5,000 until any potential issues are rectified? I would also recommend reading all posts back from page 39/40. 

clivep

Altior said:

clivep said:

eToro...

Regarding my locked a/c:

Despite eToro contacting NatWest and getting them to verify with me on Friday the legitimate payment into eToro, my eToro a/c remains locked.

Yesterday, I contacted them via online chat. I was told someone would call me which they did some time later. In this call they said I would be getting an email asking for proof of funds amongst other questions. I had to send 4 bank statements to show the path from my Cahoot savings. I also informed them that I no longer wanted to withdraw the funds as I now planned to invest in ETFs through them.

There's not been any update message from them but when I look at the case status it shows as "under review". However, when I look in my account the balance is now £495 odd with a transaction showing of a £5,000 debit "adjustment". Goodness knows where my £5,000 is now as it's not gone back to NatWest, nor to my Bank of Scotland a/c that I initially tried to withdraw to.

Being a glutton for punishment, I got my wife to try for the bonus. Selected Microsoft shares and opened the GBP wallet and had the banner message to fund and the bonus shares were waiting. Followed the link to pay in and did it by bank transfer from Santander (after getting stung by my foray with open banking). Funds showed up very shortly after and the banner message disappeared, but no bonus shares. I know t's & c's say only 1 bonus per household but note that others have succeeded. I wondered if the lack of success was due to adding funds by transfer rather than open banking. Does this account for the differing experiences people are having?

 

On the locked account part, I complied with their requests as per their email. Which included a bank statement from each account from the last 3 months (same account numbers), and statements of source of funds transferred into them used to fund eToro (ie savings accounts).

I got a follow up email stating thanks for sending what I did, but they cannot accept what I sent as they can't see any eToro transactions 

The eToro transactions were after the most recent statements, and don't state eToro as it was via open banking anyway! I mean moving the goalposts like that is pretty absurd. They had statements from accounts in my name, showing the source of funds and I'm only asking for my own funds to be returned to the original accounts. Anyway I have provided further transaction listings from each account, showing the £5K payments this morning. Not heard back since. 

This morning there has been another another debit "adjustment" of the £495 odd bonus leaving a balance of zero. None of the £5,495 odd has been returned to me!

No follow up email and the case status does not show any updated information.

Altior

clivep said:

Altior said:

clivep said:

eToro...

Regarding my locked a/c:

Despite eToro contacting NatWest and getting them to verify with me on Friday the legitimate payment into eToro, my eToro a/c remains locked.

Yesterday, I contacted them via online chat. I was told someone would call me which they did some time later. In this call they said I would be getting an email asking for proof of funds amongst other questions. I had to send 4 bank statements to show the path from my Cahoot savings. I also informed them that I no longer wanted to withdraw the funds as I now planned to invest in ETFs through them.

There's not been any update message from them but when I look at the case status it shows as "under review". However, when I look in my account the balance is now £495 odd with a transaction showing of a £5,000 debit "adjustment". Goodness knows where my £5,000 is now as it's not gone back to NatWest, nor to my Bank of Scotland a/c that I initially tried to withdraw to.

Being a glutton for punishment, I got my wife to try for the bonus. Selected Microsoft shares and opened the GBP wallet and had the banner message to fund and the bonus shares were waiting. Followed the link to pay in and did it by bank transfer from Santander (after getting stung by my foray with open banking). Funds showed up very shortly after and the banner message disappeared, but no bonus shares. I know t's & c's say only 1 bonus per household but note that others have succeeded. I wondered if the lack of success was due to adding funds by transfer rather than open banking. Does this account for the differing experiences people are having?

 

On the locked account part, I complied with their requests as per their email. Which included a bank statement from each account from the last 3 months (same account numbers), and statements of source of funds transferred into them used to fund eToro (ie savings accounts).

I got a follow up email stating thanks for sending what I did, but they cannot accept what I sent as they can't see any eToro transactions 

The eToro transactions were after the most recent statements, and don't state eToro as it was via open banking anyway! I mean moving the goalposts like that is pretty absurd. They had statements from accounts in my name, showing the source of funds and I'm only asking for my own funds to be returned to the original accounts. Anyway I have provided further transaction listings from each account, showing the £5K payments this morning. Not heard back since. 

This morning there has been another another debit "adjustment" of the £495 odd bonus leaving a balance of zero. None of the £5,495 odd has been returned to me!

No follow up email and the case status does not show any updated information.

At least there is some tacit acknowledgement of the welcome bonus on your account! Although obviously you're no more nearer to accessing your own funds, or the bonus now.

I received an acknowledgment this morning that they have received the new evidence that wasn't included in their original request, and it's been forwarded to operations for 'review'.

soulsaver

I don't remember seeing the eToro terms being posted - but here they are. 

I'm well aware they don't appear to enforce some elements, but that could end up the luck of the draw or could change any second - so, good luck.

We've learned if you get everything else right make sure you withdraw funds to the bank you funded from - as otherwise that's where things appear to be mostly reported stalling.


To be eligible for the Welcome Bonus, a user must meet all of the following criteria as of the start of the Promotion Period:

(a) Be a resident of one the countries (as detailed in Appendix A);

(b) Complete the registration to open an eToro trading platform account (an “eToro Account”) during the Promotion Period, which is subject to our approval;

(c) have solely selected interest in trading stocks as part of the registration;

(d) Not be an existing eToro customer with an eToro Account and not be a customer whose eToro Account has been closed within the past 30 days;

(e) Have his/her eToro Account fully verified by completing his/her profile pursuant to eToro procedures and policies, and satisfy all applicable regulatory requirements (including, where required, appropriateness assessments, suitability determinations, and target market criteria) under the laws and regulations of the relevant jurisdiction;

(f) Complete a minimum first-time deposit in the amounts specified in the Appendix A to its fully verified eToro Account, at any time during the Promotion Period. Such deposited amount must remain in your eToro Account for a minimum of 90 days. It being clarified that only the first deposit made to your eToro Account shall count towards the eligibility of the Welcome Bonus; Deposit thresholds and Welcome Bonus amounts specified in Appendix A may be displayed in US Dollars or in local currency. Participants are entitled to receive the Welcome Bonus as presented in Appendix A.

(g) NOT be an employee of eToro or of an eToro subsidiary, parent company or a company under common control with eToro (“eToro Affiliates”) and NOT be an immediate family (parent, sibling, spouse, child) or household member of an eToro employee, an employee of an eToro Affiliate, or a person involved in any part of the administration and execution of this Promotion; and

(h) NOT be involved in any part of the administration and execution of this Promotion.

II. The Welcome Bonus: 

(a) As part of the registration process, you will be offered to select a stock from a list provided by us that you would like to be added to your eToro Account for free (the “Qualified Stocks”). Please note that the availability of Qualified Stocks is subject to local regulatory restrictions and may vary by jurisdiction.

(b) The Qualified Stocks presented to you may be subject to change. The inclusion of a stock on the list of Qualified Stocks is not an investment recommendation or endorsement of such investment by eToro. 

clivep

Altior said:

clivep said:

Altior said:

clivep said:

eToro...

Regarding my locked a/c:

Despite eToro contacting NatWest and getting them to verify with me on Friday the legitimate payment into eToro, my eToro a/c remains locked.

Yesterday, I contacted them via online chat. I was told someone would call me which they did some time later. In this call they said I would be getting an email asking for proof of funds amongst other questions. I had to send 4 bank statements to show the path from my Cahoot savings. I also informed them that I no longer wanted to withdraw the funds as I now planned to invest in ETFs through them.

There's not been any update message from them but when I look at the case status it shows as "under review". However, when I look in my account the balance is now £495 odd with a transaction showing of a £5,000 debit "adjustment". Goodness knows where my £5,000 is now as it's not gone back to NatWest, nor to my Bank of Scotland a/c that I initially tried to withdraw to.

Being a glutton for punishment, I got my wife to try for the bonus. Selected Microsoft shares and opened the GBP wallet and had the banner message to fund and the bonus shares were waiting. Followed the link to pay in and did it by bank transfer from Santander (after getting stung by my foray with open banking). Funds showed up very shortly after and the banner message disappeared, but no bonus shares. I know t's & c's say only 1 bonus per household but note that others have succeeded. I wondered if the lack of success was due to adding funds by transfer rather than open banking. Does this account for the differing experiences people are having?

 

On the locked account part, I complied with their requests as per their email. Which included a bank statement from each account from the last 3 months (same account numbers), and statements of source of funds transferred into them used to fund eToro (ie savings accounts).

I got a follow up email stating thanks for sending what I did, but they cannot accept what I sent as they can't see any eToro transactions 

The eToro transactions were after the most recent statements, and don't state eToro as it was via open banking anyway! I mean moving the goalposts like that is pretty absurd. They had statements from accounts in my name, showing the source of funds and I'm only asking for my own funds to be returned to the original accounts. Anyway I have provided further transaction listings from each account, showing the £5K payments this morning. Not heard back since. 

This morning there has been another another debit "adjustment" of the £495 odd bonus leaving a balance of zero. None of the £5,495 odd has been returned to me!

No follow up email and the case status does not show any updated information.

At least there is some tacit acknowledgement of the welcome bonus on your account! Although obviously you're no more nearer to accessing your own funds, or the bonus now.

I received an acknowledgment this morning that they have received the new evidence that wasn't included in their original request, and it's been forwarded to operations for 'review'.

eToro

Yes, at least I got the shares (initially!). Was this because I funded by open banking?

On the other hand, my wife had the qualifying banner and funded by bank transfer into her GBP wallet but did not get her bonus shares (I know according to the t's & c's she shouldn't be eligible as from the same household, but others have posted their success).

Does the success or failure depend on the funding method???

zombie404

The eToro offer has now ended