Barclays, upto £2500 cash back for a cash, investments, or ISA transfer

Albermarle

granta said:

friolento said:

I have now had a closer look at the Barclays S&S ISA charges. I had not realised that they charge 0.25% for your first £200k, even if your investment is worth more than £200k. So the max £2,500 bonus does suddenly not look very attractive at all for me. I'll just stick with my boring iWeb/SW account as this is still superb value for money, and I won't have any transfer hassle.

 

I've participated in their offer in previous years and have been able to transfer out once the bonus is paid as there is no tie-in. So yes the fee has felt high compared to other capped platforms, but I've only paid it for 3-4 months so thus retaining the majority of the cashback. Appreciate there is a time and hassle cost but it's worked out ok so far.

Just to put things into some perspective - 0.25% is not high, it is pretty similar to many others if you are mainly investing in OEICs ( as most people do) .
Of course there are ways to pay less with specific very low cost platforms and /or  using ETFs, but in the wider marketplace these charges are in a normal band. 

friolento

granta said:

friolento said:

I have now had a closer look at the Barclays S&S ISA charges. I had not realised that they charge 0.25% for your first £200k, even if your investment is worth more than £200k. So the max £2,500 bonus does suddenly not look very attractive at all for me. I'll just stick with my boring iWeb/SW account as this is still superb value for money, and I won't have any transfer hassle.

 

I've participated in their offer in previous years and have been able to transfer out once the bonus is paid as there is no tie-in. So yes the fee has felt high compared to other capped platforms, but I've only paid it for 3-4 months so thus retaining the majority of the cashback. Appreciate there is a time and hassle cost but it's worked out ok so far.

Fair point well made. I am reconsidering.

apf666

hi, is this available to all or only via email invitation from barclays

do not seem to be able to find any information/promotion or direct links to this on any of the barclays websites

thanks for any help

flaneurs_lobster

apf666 said:

hi, is this available to all or only via email invitation from barclays

do not seem to be able to find any information/promotion or direct links to this on any of the barclays websites

thanks for any help

Have you tried the link in the first post of this thread?

apf666

flaneurs_lobster said:

apf666 said:

hi, is this available to all or only via email invitation from barclays

do not seem to be able to find any information/promotion or direct links to this on any of the barclays websites

thanks for any help

Have you tried the link in the first post of this thread?

i did yes thanks...just thought a bit odd that no promotion or info about this on barclays own...or referrers websites....perhaps they are not particularly bothered about take up hey

friolento

it is on Barclays own website, offer available to new and existing customers

https://www.barclays.co.uk/smart-investor/campaign/transfer/

itwasntme001

I registered for the offer but did not receive any email confirmation - is that normal?

I have no accounts at all with barclays but have just opened the ISA now, presumably I am eligible?  I can make the transfer-in request next month but before the deadline?

itwasntme001

From my understanding in terms of tax treatment, cashbacks are not taxable at all, is that right?

Referral bonuses are though for income tax (not interest)?

What about vouchers as incentives to move your account to the platform?

Alexland

friolento said:

it is on Barclays own website, offer available to new and existing customers

https://www.barclays.co.uk/smart-investor/campaign/transfer/

I also thought it was strange that it doesn't seem possible to navigate to the offer from their homepage but yes looking at the terms new customers can claim the offer and I can't see anything that says you must have received a personalised invite to take the offer. Very strange as most providers are happy to shout about their offers but Barclays have chosen to hide this away for some reason.

I'm tempted to give them my T212 ISA for a few months.

friolento

Alexland said:

 
I'm tempted to give them my T212 ISA for a few months.

Just make sure they can both do in-specie transfers (in and back). You can quickly verify this by opening the Barclays ISA and playing with the transfer form, without submitting it. If you can add your investments to the transfer form, in-specie will be ok. If you can't, Barclays would only accept cash transfers - probably not something desirable. It would still get you the cashback but you'd be out of the market for potentially several weeks.