Nutmeg Stock and Shares ISA £200 cashback
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Nutmeg Stock and Shares ISA £200 cashback

12
Found 15th MarEdited by:"myotherusernameisclean"
I have spent the last 2 months learning how to start and manage my own portfolio because it's cheaper than buying a managed portfolio in an ISA.

However, MSE has gone and screwed that up by giving this amazing deal for a managed or passive portfolio from Nutmeg with £200 cashback. Fees are around 1% for their managed portfolio.

You just need to deposit a minimum of £800 at the start and then £100 for 11 months, then hold that money in there for 2 years to qualify for the cashback.

Nutmeg usually have much higher fess than Vanguard so I eventually will transfer to Vanguard and run the portfolio myself.

This is stocks so there is risk involved. Dont treat HUKD as financial advice!
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12 Comments
Good post, risk on why not.
Just be aware, the small print states you can’t withdraw any of the money within the first 2 years.
You have to wait 2 years for the cash back don't you?
Market is currently quite high.
I would wait until it drops and maybe then invest......but with brexit looming not sure what could happen.
Sounds like cash back will be paid earlier but you can't withdraw or transfer for 2 years. Still a good deal.
Edited by: "gonzo02" 15th Mar
Original Poster
jonathansoanes41 m ago

You have to wait 2 years for the cash back don't you?


Bizarrely, it appears you get the cashback before May 19 but you need to hold the money in the account for 2 years.
You're better off going for a fund with lower fees, rather than focussing on cashback, unless you only have £900 to invest.

Halifax or iweb offer cheap accounts, and Vanguard's trackers have outperformed Nutmeg.
Original Poster
Return8 m ago

You're better off going for a fund with lower fees, rather than focussing …You're better off going for a fund with lower fees, rather than focussing on cashback, unless you only have £900 to invest.Halifax or iweb offer cheap accounts, and Vanguard's trackers have outperformed Nutmeg.


If you put in 9k in 1 year then withdraw at the end of year 2 then its basically free unless returns are massive.
Edited by: "myotherusernameisclean" 15th Mar
NB - The fees it charges are 0.75% per year in platform fees if you've under £100k invested, and approximately 0.19% on fund manager charges.
searsp9 h, 6 m ago

Just be aware, the small print states you can’t withdraw any of the money w …Just be aware, the small print states you can’t withdraw any of the money within the first 2 years.


I thought it was just that if you withdraw before the 2 years you don’t get your Cashback, that would be a deal breaker for me so I’d like to know where you’ve read that?
sebhere15th Mar

I thought it was just that if you withdraw before the 2 years you don’t g …I thought it was just that if you withdraw before the 2 years you don’t get your Cashback, that would be a deal breaker for me so I’d like to know where you’ve read that?


Sorry I could have been clearer. Yes you can withdraw funds within 2 years but would forgo the cashback. But I would imagine than 95% of people reading this deal are most interested in the £200 and I was just concerned they may not have read the small print
I went for a similar deal with nutmeg last year. Got my £200 but the account only made £14 on top of this bonus to date on £1700 invested. Next to highest risk setting. I've picked funds from the likes of Marlborough using Hargreaves lansdown fund supermarket and made over 20 percent in some cases..
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