How to receive a cashback bonus from SIPP and ISA

With some providers offering up to �5,000 in cashback for opening or transferring an account, these are the best pension and ISA transfer offers

Investment platforms compete with one another to draw in new clients by providing up to 5,000 in "free" money when transferring an ISA or SIPP.

Other offers include cashback for new account opening, free shares for funding an ISA or SIPP before the end of the tax year, cash for friend referrals, and funds to cover exit fees when leaving a competitor.

Make sure you're using the best investment platform and check to see if you can get any cashback when opening or transferring an account if you're considering where to invest your ISA or SIPP this year.

In addition to cashback bonuses for those opening or relocating a pension, UK investors have a plethora of ISA transfer offers to pick from.

Make sure you are satisfied with the new platform's fees, investment options, and customer support by conducting thorough research. Additionally, make sure you carefully review the requirements to determine if you qualify for the cash bonus or perk.

We list the companies that currently have SIPP cashback offers and ISA transfer offers for stocks and shares.

The best offers for ISA and SIPP transfers.

Nutmeg offers cashback of up to 5,000 on pension and ISA transfers.

One percent cashback is being offered by the largest digital wealth manager in the UK when at least 10,000 is moved from current ISAs, pensions, and/or child trust funds (CTFs).

Cashback of 100 will be given to those who transfer 10,000, and 5,000 will be given to those who transfer the maximum of 500,000.

Pensions, CTFs, junior ISAs, lifetime ISAs, cash ISAs, stocks and shares ISAs, and more can all be transferred to Nutmeg.

Customers must continue using Nutmeg until at least May 30, 2026, and the transfer or transfers must be started by May 30, 2025. Next year, the cashback will be disbursed by the end of June.

Both new and existing customers are eligible for the offer.

With Interactive Investor, you can transfer a pension up to £3,000.

Pension savers can receive between £100 and £3,000 in cashback when they sign up for Interactive Investor and transfer or pay in at least £10,000 into its SIPP.

You must contribute at least £2 million to the SIPP in order to receive the maximum amount.

Transferring a pension or pensions into the SIPP is eligible for cashback. There is a twelve-month holding period for bonuses.

After the deposit or transfer reaches the SIPP account, the cashback will be disbursed within 30 days.

You must act quickly to take advantage of this offer because it expires on February 28, 2025.

AJ Bell up to £500 for the cost of the transfer.

When transferring a pension, ISA, or dealing account, AJ Bell will pay the fees. The maximum payout amount per person is 500. It will pay up to 35 for each investment that is moved and up to 100 for general exit fees.

The account being moved must be worth at least £20,000 in order to qualify.

You will get your money back within 28 working days after completing the transfer and providing the platform with the necessary paperwork.

The money may be reclaimed if you don't keep the transferred funds in your account for a minimum of 12 months.

Up to 100 in referral bonuses from InvestEngine.

When a customer recommends a friend and that friend invests at least 100, InvestEngine, a robo-wealth manager, will give the customer an investment bonus of between 10 and 50. The bonus will also go to the friend.

Referrals to Business Accounts increase the bonus to between fifty and one hundred dollars.

Customers are able to recommend up to 25 friends. Before you can withdraw your bonus, you must keep it invested for a minimum of 12 months.

A few things to think about when moving an ISA.

At any time, you have the option to switch your ISA provider, either to the same or a different kind.

The entire amount would have needed to be transferred to another ISA provider prior to April 6th of last year. New ISA rules have given you the freedom to decide whether to move all or part of the money since the 202425 tax year started.

All you need to do is get in touch with your provider and complete the transfer form to move your ISA.

Make sure you are following the proper procedure because if you withdraw the money without doing this, it will no longer be tax-free. Usually, transfers take 15 to 30 days to complete.

To ensure it makes sense to move your money, make sure there are no fees associated with both your new provider and the transfer of your existing ISA. It might make sense to continue using your current provider if the new one's fees are higher.

On the other hand, it might not be worthwhile if the transfer fee would reduce your savings (and you are unable to recover this from the new platform).