£50 gift card for investing £10 in a Scottish Friendly My Fund Select (ISA)
347°Expired

£50 gift card for investing £10 in a Scottish Friendly My Fund Select (ISA)

73
Found 9th AprEdited by:"StudentGrant"
When you take out a "MY FUND SELECT (ISA)" - & ONLY THAT ISA - Scottish Friendly will send you a £50 "My Rewards" gift card within 28 days of receiving your first payment - use card at The Apple Store, John Lewis - or just top up your Amazon balance..

FOLLOW THE DEAL LINK, NOT GIFFGAFF, TCB OR QUIDCO - THERE IS NO OTHER CASHBACK AVAILABLE! CORRECT LINK IS ABOVE AND HERE scottishfriendly.co.uk/isa…isa

Invest £10, which has to be done by direct debit. Earliest direct debit payment is about 11 days after opening account.

Make sure you sign up to manage your account online and opt for paperless communication - if you forget, no £50.

If you already have a Scottish Friendly account, accept the offer to log in and apply through it - all your details will be filled in for you automatically (except bank account)and you still get the £50 reward!

As soon as you collect and have spent your £50 card (>>> Amazon?!) cancel the direct debit via your bank account. 400% profit (£50 card minus the £10 effectively lost = £40).

You will be temptingly offered a refer-a-friend bonus of 2x£25 vouchers, one for you, one for the person you refer (see scottishfriendly.co.uk/rec…end). Don't bother. The refer-a-friend bonus code emailed to you does not stack on your wife's (etc.) application, so applicant ends up with two £25 vouchers instead of one £50 voucher

If you're concerned about your £10 languishing in an ISA black hole, opt for the high-risk fund when prompted to choose your risk level. You never know, in ten years it might then be worth £10K! Or at least over £50, which would make withdrawal worth your while...

If you're worried about risking your £10 and not getting anything for it, don't be - if by some fluke you do not get the £50 card, complain about breach of T&C* and mention the regulator. They will pay up

Deal first posted 16/11/17 by writergirl74 but only got to 61 degrees despite it being £40 FREE MONEY! What is wrong with people.....

The offer T&C seem unchanged from the 2017-18 financial year - and allow you to re-apply for financial year 2018-2019. And perhaps every financial year thereafter! I've set a calendar reminder for 2019..

As ever, take screen-prints as you go to use as evidence later if need be. The one time you forget will be the one time you need said proof....

*FULL T&C scottishfriendly.co.uk/fil…pdf

ISA questions. How you can split your ISA allowance:
  • Use the maximum allowance for cash or investing. You can put all the £20,000 in a cash ISA. Or invest the whole lot in an investment ISA. Or put it all in an innovative finance ISA.
  • Mix 'n' match. Split the allowance between cash, stocks & shares or innovative finance ISAs. You get to choose!
  • If you wanted to, you could invest £5,000 in a cash ISA, £10,000 in a stocks & shares ISA and £5,000 in an innovative finance ISA. Or split it another way. The only rule is that, combined, your tax-free ISA savings in the 2018/19 tax year don't exceed £20,000.
  • So, Yes, you can have more than one ISA per tax year, but as with all financial stuff read it yourself!
  • moneysavingexpert.com/sav…tax

Four adults in my household applied last year at total cost of £40 and we got the four x £50 vouchers = £160 profit. I've just applied for same four family members who already have accounts, it took about 1.5 hours to earn the same £160, a decent hourly rate

KEEP AN EYE OUT FOR LETTER STATING "WELCOME TO MY REWARDS" WHICH HAS YOUR "MY REWARDS" CARD IN IT. 16-DGIT CODE BEHIND THAT IS WHAT YOU NEED. I JUST ADDED CODES FROM ALL FOUR CARDS TO MY OWN REWARDS ACCOUNT, ORDERED A £200 AMAZON CARD AND THAT WAS EMAILED STRAIGHTAWAY! NB. COPYING AND PASTING THE CODE INTO AMAZON DID NOT WORK, MANUAL TYPING DID IT!

help.scottishfriendly.co.uk/hc/…ard

friendlyrewards.co.uk/log…php

Good luck!
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Top comments
"use card at The Apple Store" to buy one single USB cable.
Be very, very careful when opening this account and follow the OP's instructions to the letter or else your money could easily vanish This IS a good deal if you follow the steps and thanks OP for posting, BUT Scottish friendly and the others of similar ilk like Shepherds Friendly are notorious for over charging you with fees on their S&S ISA accounts.

A bit like with credit card/bank tarting there is definitely free money to be had from them, but don't get sucked into thinking they are good investments. The reason they offer gift cards and also seemingly very high cashback rates of up to £90 for a £30 investment is because of those high fees.

So take out the account, but use it purely to get the free money and then move on ASAP afterwards or you could get stung very easily.
Edited by: "Spud211" 9th Apr
DO NOT USE THIS COMPANY! I beg a plead with you to think very carefully at what they offer you. Smoke and mirrors! a company that will take your hard earned money and extract all of it in fees and administrative charges.
Spud21131 m ago

Be very, very careful when opening this account and follow the OP's …Be very, very careful when opening this account and follow the OP's instructions to the letter or else your money could easily vanish This IS a good deal if you follow the steps and thanks OP for posting, BUT Scottish friendly and the others of similar ilk like Shepherds Friendly are notorious for over charging you with fees on their S&S ISA accounts.A bit like with credit card/bank tarting there is definitely free money to be had from them, but don't get sucked into thinking they are good investments. The reason they offer gift cards and also seemingly very high cashback rates of up to £90 for a £30 investment is because of those high fees. So take out the account, but use it purely to get the free money and then move on ASAP afterwards or you could get stung very easily.


Absolutely this!. I started an ISA with them a few years back because of the high cashback. It turned out that the **entire** first 24 months of payments were to pay for charges, and the account only started to take contributions on month 25. The 10 year forecast was simply 'break even!'

Luckily I released in time to cancel but will never touch these with a barge-pole again. Great if you can get free cash from them, just be very careful!
Edited by: "dbobs" 9th Apr
73 Comments
Quite simply: am I allowed to open another ISA if I have already opened one in March of this year? (Think so.. After April 6th?)
Is there any limit on the amount of ISA’s you can open? Meaning if I open this am I still eligible to open another ISA with another account?
CBK6 m ago

Quite simply: am I allowed to open another ISA if I have already opened …Quite simply: am I allowed to open another ISA if I have already opened one in March of this year? (Think so.. After April 6th?)


Yes.
justonemore8 m ago

Is there any limit on the amount of ISA’s you can open? Meaning if I open t …Is there any limit on the amount of ISA’s you can open? Meaning if I open this am I still eligible to open another ISA with another account?


There is a limit. You can only open one a year.
Edited by: "superpanda" 9th Apr
It says £15 gift card for £10 per month investment
thomasbentley2 m ago

It says £15 gift card for £10 per month investment


Says:

When you take out a My Fund Select (ISA) we’ll send you a welcome gift - a £50 My Rewards gift card. You can redeem your card at numerous outlets throughout the UK including The Apple Store, John Lewis and Amazon.

We will send your My Rewards card within 28 days of receiving your first payment. Once registered you will be able to access the full list of retailers.

Under the rewards and benefits section...
Edited by: "LTic" 9th Apr
"use card at The Apple Store" to buy one single USB cable.
superpanda8 m ago

There is a limit. You can only open one a year.


This can't be right. I had several isa's last year. Can you not have multiple as long as you stay within your 20000 limit?
steven5watson2 m ago

This can't be right. I had several isa's last year. Can you not have …This can't be right. I had several isa's last year. Can you not have multiple as long as you stay within your 20000 limit?


I think you can have multiple types of ISA but not more than one of the same type (ie you can have a cash ISA and an Investment ISA but not two cash ISAs)
You can open and pay into one cash ISA a year and/or one stocks and shares ISA. If you open and pay into more than this it is against the rules.
33606223-Q5npW.jpg
LTic2 m ago

I think you can have multiple types of ISA but not more than one of the …I think you can have multiple types of ISA but not more than one of the same type (ie you can have a cash ISA and an Investment ISA but not two cash ISAs)


I had multiple cash ISAs this last year. Maybe I'm an anomalie! Haha
That’s all I can see. You’d have to put £40 in a month just to get £45 gift card. No mention of £50
Edited by: "winifer" 9th Apr
Original Poster
CBK30 m ago

Quite simply: am I allowed to open another ISA if I have already opened …Quite simply: am I allowed to open another ISA if I have already opened one in March of this year? (Think so.. After April 6th?)


YES
Not sure if you can overlay it, but topscashback is offering up to £225 cash back depending on how much you invest for month for an ISA. Hope it helps someone. M
33606283-lLiNe.jpg
Edited by: "handsonholly" 9th Apr
CBK31 m ago

Quite simply: am I allowed to open another ISA if I have already opened …Quite simply: am I allowed to open another ISA if I have already opened one in March of this year? (Think so.. After April 6th?)


yes
steven5watson11 m ago

I had multiple cash ISAs this last year. Maybe I'm an anomalie! Haha


ISA Police will be knocking on your door soon :-)
Original Poster
handsonholly4 m ago

Not sure if you can overlay it, but topscashback is offering up to £225 …Not sure if you can overlay it, but topscashback is offering up to £225 cash back depending on how much you invest for month for an ISA. Hope it helps someone. M[Image]


TCB NOT APPLICABLE TO THIS "My Fund Select (ISA)"
Be very, very careful when opening this account and follow the OP's instructions to the letter or else your money could easily vanish This IS a good deal if you follow the steps and thanks OP for posting, BUT Scottish friendly and the others of similar ilk like Shepherds Friendly are notorious for over charging you with fees on their S&S ISA accounts.

A bit like with credit card/bank tarting there is definitely free money to be had from them, but don't get sucked into thinking they are good investments. The reason they offer gift cards and also seemingly very high cashback rates of up to £90 for a £30 investment is because of those high fees.

So take out the account, but use it purely to get the free money and then move on ASAP afterwards or you could get stung very easily.
Edited by: "Spud211" 9th Apr
StudentGrant9 m ago

TCB NOT APPLICABLE TO THIS "My Fund Select (ISA)"


Why would you "waste" an ISA for only £50? Shepherds Friendly had a much better offer through TCB or Quidco north of £100
MARFW3 m ago

Why would you "waste" an ISA for only £50? Shepherds Friendly had a much …Why would you "waste" an ISA for only £50? Shepherds Friendly had a much better offer through TCB or Quidco north of £100


Because the other cashback offers you mention all require more regular investments whereby you are taking a reasonably large gamble with what you put in, with guaranteed fees. The market has to move up quite a bit in those 3 months for you to get even your capital back due to the trading & liquidation fees. I worked it out last night (because of that £20 quidco bonus) and it didn't make sense to take the risk.

This deal the OP has described isn't quite the same and is much lower risk.
Edited by: "Spud211" 9th Apr
Needs expired as no deal here
handsonholly18 m ago

Not sure if you can overlay it, but topscashback is offering up to £225 …Not sure if you can overlay it, but topscashback is offering up to £225 cash back depending on how much you invest for month for an ISA. Hope it helps someone. M[Image]


£30 cashback for between £10-19.99 when your plan reach to £25 and after 30 day
lkl26522 m ago

ISA Police will be knocking on your door soon :-)


No you will just get a letter from HMRC saying you have exceeded the ISA allowance and they have instructed the financial institution to return the funds.
My bro opened two when they first started. First one with his bank was unaffected the second one with Barclays they just sent him a cheque for the £3k he put in. As he didn't open it until January he only lost about 4 months interest. If he has opened it in April he would have lost 13 months worth.
Hoping that guy didn't open his first with £100 and use the rest of his allowance (£19,900) on one's after that. Could be costly!
DO NOT USE THIS COMPANY! I beg a plead with you to think very carefully at what they offer you. Smoke and mirrors! a company that will take your hard earned money and extract all of it in fees and administrative charges.
Spud21131 m ago

Be very, very careful when opening this account and follow the OP's …Be very, very careful when opening this account and follow the OP's instructions to the letter or else your money could easily vanish This IS a good deal if you follow the steps and thanks OP for posting, BUT Scottish friendly and the others of similar ilk like Shepherds Friendly are notorious for over charging you with fees on their S&S ISA accounts.A bit like with credit card/bank tarting there is definitely free money to be had from them, but don't get sucked into thinking they are good investments. The reason they offer gift cards and also seemingly very high cashback rates of up to £90 for a £30 investment is because of those high fees. So take out the account, but use it purely to get the free money and then move on ASAP afterwards or you could get stung very easily.


Absolutely this!. I started an ISA with them a few years back because of the high cashback. It turned out that the **entire** first 24 months of payments were to pay for charges, and the account only started to take contributions on month 25. The 10 year forecast was simply 'break even!'

Luckily I released in time to cancel but will never touch these with a barge-pole again. Great if you can get free cash from them, just be very careful!
Edited by: "dbobs" 9th Apr
lkl26547 m ago

ISA Police will be knocking on your door soon :-)


I never had no stinkin ISAs, no how...
Original Poster
Bully54 m ago

Needs expired as no deal here



I hope your suggestion is not acted upon, "Bully" - because the math is spend £10, get £50 back = £40 profit. It is hard to see how that tallies with "no deal here!"
Spud21158 m ago

Because the other cashback offers you mention all require more regular …Because the other cashback offers you mention all require more regular investments whereby you are taking a reasonably large gamble with what you put in, with guaranteed fees. The market has to move up quite a bit in those 3 months for you to get even your capital back due to the trading & liquidation fees. I worked it out last night (because of that £20 quidco bonus) and it didn't make sense to take the risk.This deal the OP has described isn't quite the same and is much lower risk.


There are no fees with Shepherds friendly, as an example. And even in this market, the £100 bonus they were giving via tcb would have covered the losses. But each to their own I suppose.
peterkay1144 m ago

DO NOT USE THIS COMPANY! I beg a plead with you to think very carefully at …DO NOT USE THIS COMPANY! I beg a plead with you to think very carefully at what they offer you. Smoke and mirrors! a company that will take your hard earned money and extract all of it in fees and administrative charges.


I was about to ask same thing ... How much is annual maintenance charges? & Do they have decent index funds or other funds like Vanguard & lowest maintaince feel like Vanguard....?? Not worth free money after giving away your personal & financial details to every vendor...... better you stick with 1 & let compunding interest work more than this...
Original Poster
singhisking6814 m ago

I was about to ask same thing ... How much is annual maintenance charges? …I was about to ask same thing ... How much is annual maintenance charges? & Do they have decent index funds or other funds like Vanguard & lowest maintaince feel like Vanguard....?? Not worth free money after giving away your personal & financial details to every vendor...... better you stick with 1 & let compunding interest work more than this...


I AGREE INVESTMENT PERFORMANCE IS POOR WITH THIS ISA. WHICH IS WHY I HAVE ONLY SUGGESTED SPENDING £10 ON IT IN RETURN FOR A £50 FREE GIFT! THAT IS ALL THIS DEAL IS ABOUT AND I THOUGHT THAT WAS PRETTY CLEAR
Just looked on trust pilot and reviews are poor. A few people mention the high fees. I had just opened an account but no I’ll change it and just make one £10 payment to get the gift card. Then open a regular isa elsewhere
Original Poster
yespleasesir15 m ago

Just looked on trust pilot and reviews are poor. A few people mention the …Just looked on trust pilot and reviews are poor. A few people mention the high fees. I had just opened an account but no I’ll change it and just make one £10 payment to get the gift card. Then open a regular isa elsewhere


Exactly - cancel the direct debit once you get the £50.
MARFW47 m ago

There are no fees with Shepherds friendly, as an example. And even in this …There are no fees with Shepherds friendly, as an example. And even in this market, the £100 bonus they were giving via tcb would have covered the losses. But each to their own I suppose.


No fees? Are you sure that's on a stock and shares product they offer cashback on? I'm not aware of any managed stocks and shares ISA's with no fees at all - there are quite a few that don't charge a platform fee, or waive it for X months, but every single one i've seen will carry as a minimum transaction fees.
The key facts documents show examples - e.g. shepherdsfriendly.blob.core.windows.net/kid…pdf

Regardless of whether the cashback will cover them or not (I agree it will in most cases), a S&S ISA is still an investment and does require some level of understanding as they are complex products, even on very simple single fund tracker type investments. I'm in no way qualified to advise on it and people should never buy an investment purely due to a cashback/promo offer.

Nothing wrong with doing what the OP is suggesting just to grab the cashback mind.
Edited by: "Spud211" 9th Apr
StudentGrant9th Apr

I hope your suggestion is not acted upon, "Bully" - because the math is …I hope your suggestion is not acted upon, "Bully" - because the math is spend £10, get £50 back = £40 profit. It is hard to see how that tallies with "no deal here!"


Can you cancel after the first payment has been taken workout incurring fees or charges?
Scotland must be going for referendum number 2 and after they gonna tell rest of UK investors to f off
Original Poster
saraye22 m ago

Can you cancel after the first payment has been taken workout incurring …Can you cancel after the first payment has been taken workout incurring fees or charges?


YES, but wait until you get the gift card; cancel via your online bank account (easiest and recommended), or phone Scottish Friendly, or both if you're really worried - but there is no need to be!
Edited by: "StudentGrant" 9th Apr
Original Poster
peterkay112 h, 0 m ago

DO NOT USE THIS COMPANY! I beg a plead with you to think very carefully at …DO NOT USE THIS COMPANY! I beg a plead with you to think very carefully at what they offer you. Smoke and mirrors! a company that will take your hard earned money and extract all of it in fees and administrative charges.


Normally investment firms do indeed take your money and hang on to it if you only leave it with them for a short time. In this case, the firm is getting its own medicine #FREEMONEYFORYOU
StudentGrant22 m ago

Normally investment firms do indeed take your money and hang on to it if …Normally investment firms do indeed take your money and hang on to it if you only leave it with them for a short time. In this case, the firm is getting its own medicine #FREEMONEYFORYOU


Take it you're an employee of Scottish Unfriendly?
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