This articles shows you how you can earn Avios points when you invest with Nutmeg.
What is Nutmeg?
Nutmeg is an innovative online wealth management service that offers intelligent investment portfolios to anybody with just £500 to invest.
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 £1.5 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, General Investment Account (GIA) pr personal pension of just £500.
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 2020, 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, 100% cash ISAs or 100% cash GIAs.
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?
This is a very important point to note.
The standard offer for opening a Nutmeg account is 2,500 Avios. This is a very bad deal if you are planning to invest a lump sum.
Once or twice a year, usually around October and again in March and April as the end of the tax year approaches, Nutmeg offers VERY generous incentives.
In March 2019, for example, it offered:
one Avios per £1 invested in a pension, ISA or GIA up to an investment of £19,999.
1.5 Avios per £1 invested between £20,000 and £100,000
For example if you invested £10,000 you got 10,000 Avios. If you invested £20,000 you got 30,000 Avios. An investment of £50,000 earned 75,000 Avios. £100,000 earned you 150,000 Avios.
This is substantially more generous than the standard offer of 2,500 Avios!
If you are considering investing a large lump sum with Nutmeg, I would wait until the next major promotion comes along. We will be covering it on Head for Points.
If you are only interested in starting a small drip-feed account, such as £200 per month, it doesn’t make any difference. You should take the 2,500 Avios.
When do I receive my Avios?
Your bonus will be credited to your 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 24 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.
(This article is part of our ‘BA Q&A’ series which explains how British Airways Executive Club works. You can see all of our ‘BA Q&A’ articles here. )
(Head for Points is the UK’s biggest frequent flyer website with 1.5 million monthly page views. Want to learn more about earning and spending Avios? Click here to read our latest news stories, click here to join our email list and click here to read our ‘Avios Redemption University’ series.)
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If you have your own small business, the best way of earning Avios is via the Capital On Tap Business Rewards Visa. It has a sign-up bonus which converts to 10,000 Avios:
You can find out more about ALL UK credit cards which offer travel rewards in this article, updated monthly.