EXPIRED - Wahed Invest - £50 bonus for £100+ investment

karlie88 · 19 June 2019 at 8:53PM

EXPIRED

Promotion is back again this year.

Open an account and invest £100+ in order to get £50 back to your bank account. Can withdraw your investment after 180 days.

Link: https://halal.wahedinvest.com/eid

Terms: https://halal.wahedinvest.com/eid_terms

Similar promotion from last year but terms were unclear back then (should have been £50 bonus on £100+ investment but terms stated £50 bonus x 2). Fair play, they did pay out 2 x £50 bonuses in the end.

Link to last year's promo on here: https://forums.moneysavingexpert.com/showthread.php?t=5888931

katsu · 19 June 2019 at 9:34PM

Really interesting idea, thanks karlie.

Did many people here give this a go? I haven't considered something like this before but £50 should prevent the £100 ending up as a loss as I doubt it would lose £50 in 180 days.

Zanderman · 20 June 2019 at 8:31AM

katsu wrote: »

Did many people here give this a go? I haven't considered something like this before but £50 should prevent the £100 ending up as a loss as I doubt it would lose £50 in 180 days.

Did this last year, worked fine. Odd style of communications but not a problem.

The question is will it work again this year for last year's customers? Terms don't say no, they just say "Only one cashback per person will be given" - but that refers, arguably, only to this year's offer.

quirkydeptless · 20 June 2019 at 11:33AM

Thanks.

I've just opened up an account.

Got through all the steps, so it's now just waiting on my £100 to arrive and get invested.

0.99% platform fee and a total cost of 1.8% seems rather steep though!

longleggedhair · 20 June 2019 at 12:38PM

Thanks, I've given it a go.

Rheumatoid · 20 June 2019 at 2:35PM

Thanks. worth 10 mins effort. Might even open one for the wife.

EDIT: Wife has one as well - not that she knows

karlie88 · 20 June 2019 at 2:51PM

katsu wrote: »

Really interesting idea, thanks karlie.

Did many people here give this a go? I haven't considered something like this before but £50 should prevent the £100 ending up as a loss as I doubt it would lose £50 in 180 days.

I don't think many people did last year because there was only 1 day left for the promotion when I posted it and they were relatively new in the UK (more established in the US though). Also terms were unclear but they paid out the bigger amount in the end.

Signed up OH with this offer and a couple of family members have been informed and will be signing up. No hesitation to use them again.

Zanderman wrote: »

Did this last year, worked fine. Odd style of communications but not a problem.

The question is will it work again this year for last year's customers? Terms don't say no, they just say "Only one cashback per person will be given" - but that refers, arguably, only to this year's offer.

I think term 4 would make existing customers ineligible:

4. The Cashback bonus applies to accounts opening and funded between Friday, May 31, 2019 00:01 and Sunday 30 June 2019 23:59.

I'm not sure if their systems allow a new online account with the same name/details. Maybe worth a try...

...another workaround I can think of is closing your old account and opening a new account a few days later. :whistle:

fun4everyone · 20 June 2019 at 3:56PM

I'm in. This is a nice promotion, thanks for the tip.

I picked the most aggressive investment type, I think this is the benchmark for it that was mentioned on the screen I agreed to without reading it properly.

https://www.msci.com/documents/10199/c0b90e16-5746-4cdc-b033-1ec7da64386e

Has not done badly vs MSCI World tbf. Let's go.

gurinder · 21 June 2019 at 7:05PM

Are you protected with them, look like a sub-client of https://www.wealthkernel.com/ with no investment business/strategy of their own?

Alexland · 21 June 2019 at 8:58PM

Thanks Karlie - it might only be £50 each but it's an easy signup process, not much capital tied up and a relatively short lock-in period. Worth mentioning they offer General Investment Accounts for those of us with S&S ISAs elsewhere.

I have posted the T&Cs below as they may become inaccessible after the signup window. It looks like the account needs to be funded by the 30th which might mean the bank transfer needs to complete. They advised during signup this could take 3-5 days.

Alex

Eid £50 Cashback Bonus Terms & Conditions

Wahed Invest Ltd. (“Wahed”) Cashback Bonus Promotion (the “Promotion”) Terms and Conditions:

Subject to these Terms and Conditions you may be eligible to receive a cashback.

1. This Promotion is open to residents of the UK only.

2. This Promotion is not open to employees of Wahed.

3. Only one cashback per person will be given.

4. The Cashback bonus applies to accounts opening and funded between Friday, May 31, 2019 00:01 and Sunday 30 June 2019 23:59.

5. The account must be successfully opened and funded with at least £100.00.

6. When the funds have been invested into your account, no withdrawals must be made for the first 180 calendar days.

7. After 30 days from the date of the funds being invested, Wahed will arrange to transfer the £50 to your nominated bank account within 30 working days.

8. The Cashback is inclusive of all taxes and bank transfer fee. Where this Cashback payment constitutes a taxable benefit, all tax liability lies with the recipient.

9. Wahed reserves the right to audit all Cashbacks to ensure that the terms and conditions of the Promotion have been met and to request additional information regarding any and all claims and supporting documents.

10. Wahed decisions in respect of all aspects of the Promotion will be final and binding.

11. Wahed reserves the right to amend or cancel the terms of this Promotion immediately with notice: (a) if circumstances outside Wahed’s reasonable control, including technical issues, prevent the Promotion from running as anticipated; (b) in the event of false information being provided by participants; (c) if a change of law prevents the Promotion from running as anticipated; or (d) for any reason at any time. Notice will be provided by Wahed displaying the updated terms and conditions on the Promotion website at halal.wahedinvest.com/EID.

12. You agree that Wahed and all of its respective officers, directors, employees, representatives and agents will have no liability whatsoever, and will be held harmless by you for any injuries, losses or costs or damages of any kind resulting in whole or in part, directly or indirectly from your participation in this Promotion.

13. We will have no liability to you for any breach of these terms caused by any event or circumstance beyond our reasonable control including, without limitation, strikes, lock-outs or other industrial disputes; breakdown of systems or network access; or flood, fire, explosion or accident. Wahed is not responsible or liable for any technical, hardware, software, server, website, or other failures or damage of any kind to the extent that this prevents the participant from or otherwise obstructs him/her in participating in the Promotion.

14. This Promotion and any claim arising out of or in connection with this Promotion (including non- contractual disputes and claims) will be: (a) governed by English law; and (b) subject to the non-exclusive jurisdiction of the courts of England.

15. The Promoter is Wahed Invest Ltd., Wahed Invest 50 Liverpool Street, London, EC2M 7PR.

chockydavid1983 · 22 June 2019 at 10:13AM

Thanks for this guys. All signed up for 3 months! :-)

EXPIRED - Wahed Invest - £50 bonus for £100+ investment

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