It’s back: Get up to 100,000 Avios when you open an ISA or SIPP via Nutmeg

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This is an advertisement for Nutmeg Saving and Investment Limited (“Nutmeg”). Nutmeg has agreed to pay the publisher an award for new customers acquired via the promotion of its services on this site.  Head for Points is a journalistic website. Nothing here should be construed as financial advice, and it is your own responsibility to ensure that any product is right for your circumstances. Recommendations are based primarily on the ability to earn miles and points.  Robert Burgess, trading as Head for Points, is regulated and authorised by the Financial Conduct Authority

Nutmeg has brought back its generous Avios offer for opening a pension, ISA or General Investment Account.

For every £1 invested you will receive one Avios, up to a maximum of 100,000 Avios, when you open an account with Nutmeg before 11th November 2018.

Full details are here.

What is Nutmeg?

As I wrote back in April, when this offer last ran, Nutmeg is an innovative online wealth management service that offers intelligent investment portfolios to anybody with just £500 to invest, with additional monthly contributions of at least £100.

Your money will be invested in what the company calls a robust, diversified portfolio that spreads risk across asset classes, geographies and industries. YourMoney voted Nutmeg the best online Stocks and Shares ISA provider for 2015, 2016, 2017 and 2018.

The company now has over £1 billion of assets under management and over 60,000 investors.

How much do I need to invest?

You can open an account with the minimum contribution for an ISA or General Investment Account (GIA) of just £500 as long as you make additional monthly contributions by direct debit of at least £100. You can also make an initial lump sum contribution of £5,000 or more with no direct debit contributions required. For those opening a pension the minimum is £5,000 with no direct debit contribution required.

What is the maximum I can invest?

The maximum you are allowed to invest in an ISA this tax year, which runs to 5th April 2019, is £20,000. You can invest more but anything you commit beyond £20,000 will be placed in a General Investment Account.

Please note that Avios are not awarded for customers opening a Lifetime ISA.

Nutmeg Avios offer

Why should I invest with Nutmeg?

In their own words: “We take the best elements of a high-end investing service, strip out the complexity and cost, and provide it to you online.”

How many Avios will I receive?

You will receive one Avios per £1 invested in a pension, ISA or GIA. Nutmeg will award one Avios per £1 on initial investments of up to £100,000. You can invest more but the Avios reward is capped at 100,000 points.

However, it is important to note that the offer is only open to new Nutmeg customers. A ‘new customer’ is defined as someone who has not previously invested with Nutmeg.  This offer is valid for invested accounts opened and funded before 11th November 2018.

When do I receive my Avios?

Your bonus can be credited to either an or British Airways Executive Club account. You will receive your Avios within 45 days of making your initial investment.

If you make a withdrawal or close your Nutmeg account within 18 months, Nutmeg reserves the right to withdraw the cash equivalent of the Avios points value awarded from the closing balance before returning funds.

How do I apply?

You need to sign up and invest via this special landing page to earn Avios.  Applications via the standard Nutmeg home page will not earn any points.

Remember, as with all investing, that your capital is at risk. The value of your portfolio with Nutmeg can go down as well as up and you may get back less than you invest. ISA and pension rules apply.

(Want to earn more Avios?  Click here to visit our home page for the latest articles on earning and spending your Avios points and click here to see how to earn more Avios from current offers and promotions.)

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  1. Apologies for the lengthy disclaimers on this article. Obviously pensions are very serious financial instruments and the regulation over their promotion is, correctly, strong.

    • Mr(s) Entitled says:

      Nothing to apologise for. This is how it should be and is a vast improvement on previous iterations.

      Personally I’m not sure how many Avios I would need to transfer my SIPP but it is a lot more than 100,000. I’m too much of a control freak to give up the ability to pick the underlyings components. For others, I can see the benefit. The level of financial education in this country is dire and yet more and more freedoms are being given to people who don’t understand them. Now, where is my soap box?

  2. funkypigeon says:

    OT: I’ve transferred points in my SPG account to BAEC. I was wondering how long they should take to appear? Email said 24 hours. A week later nothing is showing.

    • Tom Cook says:

      I did two transfers last week, both times it took 48hrs.

      • funkypigeon says:

        Was I correct in selecting ‘British Air’ as where to convert the points to?

      • SPG is very erratic. I did a transfer to Alaska and also to krisflyer. both arrived in 1 week but krisflyer was short 10k bonus + 5 miles short as well!. Alaska was short by 2 miles. frustrating when you need 25k miles and they transfer 24998. had to transfer more (what a waste) cause I was on a time limit.

        After having raised issues with SPG/marriott, I am yet to see my bonus miles

  3. OT but finance, I imagine HFP readers might know the answer. I have a loan with Creation and have made a couple of extra payments with a debit card. No extra charges were displayed when I did this, however tucked away in the FAQs it says that debit card payments will be charged at £3 per transaction. I haven’t been charged ostensibly for making debit card payments, however I am now wondering if they have added this to the loan balance. Creation are proving very difficult to get a straight answer from. Surely if there was a charge for making a card payment it should be clearly displayed at the point of payment?

    • When was the loan taken out? Since January retailers haven’t been allowed to discriminate based on the method of payment – so would assume this may apply here (although I don’t know if it would override anything already agreed within an existing contract)

      • Only this year so maybe they’ve removed the charge from the payment page but accidentally left it in the FAQs.

      • ShopOwner says:

        There is nothing stopping Creation from applying an administration charge for any method of payment, as long as one means isn’t treated more/less favourably than the others.

  4. It’s a shame they don’t offer this to existing customer. They used to have transfer offer fir existing customer but none recently

    • Cameron says:

      Agree. I already have a Nutmeg ISA and would consder transferring in a pension to them if the offer applied to that (fees etc similar to current provider – so would make sense beyond the points 😉

  5. Does this include an ISA transfer?

  6. “Nutmeg reserves the right to withdraw the cash equivalent of the Avios points value awarded from the closing balance before returning funds.”

    I thought Avios had no cash value.
    Do Nutmeg say what value they ascribe to the Avios?

  7. 18 months, wow. That would prevent you from changing providers for the next 3 tax years…

  8. Shoestring says:

    Look at their performance over the last 20 years and compare it to others.

    Eg – check out the 2 funds/ performance/ terms

    • Shoestring says:

      You get your money back.

      [We take security very seriously at Nutmeg. Like many investment managers, we believe that the safest way of looking after your investments is to appoint a “custodian bank” to hold your money. Our custodian is State Street — one of the world’s largest custodians with £18 trillion in assets under custody. State Street serves thousands of investment managers, high-net-worth individuals and major banks worldwide.

      State Street holds your investments in a segregated account for added security and never lends your assets to third parties. This means that your investments are protected in the unlikely event that either Nutmeg or State Street are declared bankrupt. Nutmeg is also covered by the Financial Services Compensation Scheme, which means you may be entitled to compensation if we cannot meet our obligations.]

  9. Nutmeg reneged on their transfer ins of Help to Buy ISAs in to LISAs.

    They did not alert LISA customers of this, despite receiving 12 marketing emails over the period. It was not once mentioned. When challenged, their customer service advised that they didn’t think it was necessary to alert customers of this.

    Irresponsible company in my opinion.

  10. Think twice about this! Current stock performance is poor and Nutmeg takes a laid back approach on managing your funds as they use investment rounds of 2x per week. Same goes for money coming in and you taking it out. It is not an instant process. They are actively growing to ensure they have a critical mass.

    • Shoestring says:

      Yep I’m in the ‘we’re at the start of/ already well into a significant market correction’ camp. Could last a few more months – could last a couple more years. (My camp is of course mostly wrong in their pontifications.)

      Do Nutmeg let you avoid trying to time the market by dripping in (say) monthly 1/12 chunks/ contributions? – and still get the points?

  11. Nutmeg should re-evaluate its stance on not offering this product to existing ISA customer.

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