The Cashback for Bank or Investment Accounts Discussion Thread

where_are_we

Just opened IG GIA, fairly straightforward, no ID requirements, promo code box comes up (well into application), entered DEPOSIT200 code, got instant email confirmation, funded account by True layer (instant) from current account initially with £200 but had to add another £2 because my ETF investment of HSBC Sterling Liquidity Fund UCITS Acc one share costs £201.58. All seems ok, however I haven`t yet had any confirmation of being accepted for the £200 cashback.

andyhicks88

Something must have gone wrong for me because it's not opened straight away it they are still processing the application. Wondering why this is the case.

drob4

https://forums.moneysavingexpert.com/discussion/comment/81868103#Comment_81868103

https://forums.moneysavingexpert.com/discussion/comment/81868111#Comment_81868111

There’s nothing in the t&c’s about a minimum investment, just that you need to hold an open position for a certain period.

I opened my account earlier today and it’s still showing as ‘pending’, so can’t yet make a deposit.

s71hj

https://forums.moneysavingexpert.com/discussion/comment/81868253#Comment_81868253

But you have to DEPOSIT £200. Presumably whatever you don't spend on the "open position" can then immediately be withdrawn?

drob4

https://forums.moneysavingexpert.com/discussion/comment/81868309#Comment_81868309

Yes - it’s billed as a ‘deposit match’ offer rather than an ‘investment match’ offer.

Based on t&c, you could withdraw any uninvested funds. Although, worth noting that the terms allow for them to withdraw the offer from applicants who ‘abuse the spirit or intention of it’. Whatever that means.

sheffieldeagle

Hi

Do IG implement further ID checks when withdrawing funds?

Cheers

phlebas192

Recently received an email from HL for a cashback transfer for ISAs which is pretty compelling - in my case £2k for between £250k and £500k. But whoever (AI?) wrote the T&Cs should be sacked. eg

Account retention: If you:
a) transfer any portion of your HL Stocks and Shares ISA out
of your HL Stocks and Shares ISA; or
b) make a withdrawal from your HL Stocks and Shares ISA,
and in the period between 19 December 2025 and 30
November 2026 the:
c) aggregate value of all qualifying contributions and transfers
into your new HL Stocks and Shares ISA; less
d) aggregate value of any withdrawals or transfers from your
new HL Stocks and Shares ISA,

equals less than £10,000, then you will not be eligible for the
cashback payment.

The only exception to the above restriction on transfers out of
your HL Stocks and Shares ISA is transfers to an HL Lifetime
ISA. You are also free to switch between investments and in
and out of cash within your HL Stocks and Shares ISA.

Which at face value is nonsensical since clause a) followed by "equals less than…" (the closing "; or" to sub clause a) means that b) through d) can be ignored) doesn't make any sense at all. Yes, I know what they want to mean but I think I could legally argue that imediately transferring out the entire amount (being more than £10k) would be eligible for the cashback!

Hint: there is a very good reason why legal documents should be careful with punctuation and ideally should not include any other than full stops…

Anyway, we're about to move my wife's similarly valued ISA form HL due to their fee increases so this is a timely offer since it allows us to maintain our diversity of providers whilst earning some extra dosh!

andyhicks88

Since it appears that you can have multiple Cahoot and Santander Savings Accounts I wonder if it would work to open them through both TCB and Quidco to get both cashback offers?

dharm999

I see that etoro are offering up to 3% cash back on ISA transfers, max £10k cashback, anyone taken advantage of this? How was the process, as I would be looking to transfer from my Vanguard ISA.

Thanks

flaneurs_lobster

https://forums.moneysavingexpert.com/discussion/comment/81869355#Comment_81869355

I've got cashback via TCB for Santander EA, a Cahoot Simple, a claim for a S Limited Access is Pending.

There are (currently) no Santander savings account deals via Quidco, but the deals on Cahoot accounts pay more than TCB.

The Terms are all over the place, for some accounts there are explicit 1-off only clauses, others not.

If you apply for these accounts then at the end of the process Santander put up a response window with an 'OLA' reference (no idea) on it - make a note of it as it's needed for any missing cashback claim and it doesn't appear anywhere else after this pop-up.

As with all cashback deals, be prepared for crashing disappointment when none of it works.