Maximise your Avios, air miles and hotel points

Nutmeg offering up to 300,000 Avios with ISAs, pensions, Junior ISAs, Lifetime ISAs and General Investment Accounts

Links on Head for Points may pay us an affiliate commission. A list of partners is here.


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 is back with its best Avios offer to date, giving you the opportunity to collect up to 300,000 Avios to save towards your future trips away.

If you’re dreaming of your next getaway, this could be the offer for you.  Invest between £500 and £19,999 and for every £1 invested you’ll receive one Avios.  Invest between £20,000 and £200,000 and you’ll receive 1.5 Avios for every £1 invested.  This means that a £200,000 investment earns you 300,000 Avios.

Full details of the offer can be found here.

This year, Nutmeg has added two new products to the offer:

Junior ISA (a stocks and shares ISA for a child under 18, with an annual contributions limit of up to £9,000 per year. To invest in a Nutmeg Junior ISA your child must be under the age of 16. Junior ISA rules apply)

Lifetime ISA (a stocks and share ISA which can be opened by anyone aged 18 to 39, the government will top up contributions into a Lifetime ISA by 25% up to the maximum annual contributions limit of £4,000, meaning the maximum annual government bonus is £1,000. The money can be withdrawn to fund the purchase of your first home or when you turn 60. Lifetime ISA rules apply.)

This is on top of the products it usually offers – a stocks and share ISA, pension plans and a General Investment Account.

Earn 300000 Avios with Nutmeg

What is Nutmeg?

Nutmeg is an innovative online wealth management service that builds and manages sophisticated global investment portfolios for anyone looking to invest as little as £500. Nutmeg uses technology to keep costs low and help boost your returns. Your money will be invested in what the company calls a robust, diversified portfolio that spreads risk across asset classes, geographies and industries. Users can view all of their investments and their returns using the app, or via their website.

YourMoney voted Nutmeg the best online Stocks and Shares ISA provider for 2015, 2016, 2017, 2018 and 2019 and the company is rated ‘Great’ on Trustpilot.

Customers can select any one out of three investment styles and adjust their risk level as they see fit.  Nutmeg offers a choice of socially responsible investing across all of their products.

The company is the first, and the largest, digital wealth manager in the UK (Source: Boring Money Online Investing Report 2020) and now manages over £2 billion on behalf of  over 80,000 investors.

How much do I need to invest?

You can open an account with the minimum contribution for an ISA, General Investment Account (GIA), or pension of just £500.

For a Lifetime ISA or Junior ISA, whilst the minimum investment amount for these products is £100, you will also need to invest a minimum of £500 to be eligible for this promotion.

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 2021, is £20,000. You can invest more but anything you commit beyond £20,000 will be placed in a General Investment Account (‘GIA’).

In addition you can also put up to £9,000 this tax year into a Junior ISA on behalf of your child. This will not affect your personal ISA allowance!

Alternatively, you can transfer ISAs from previous tax years or old pensions of any size above £500, and you will still qualify for the promotion.

Please note: Avios are not awarded for customers opening ISAs which are 100% invested in cash or GIAs which are 100% invested in cash

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 excessive cost, and provide it to you online. Let our team of investment experts look after your money and see how your portfolios are performing any time of the day via  android and iOS apps.”

How many Avios will I receive?

You will receive one Avios per £1 invested in a pension, ISA, GIA, Lifetime ISA or Junior ISA up to an investment of £19,999. Invest between £20,000 and £150,000 and you will receive one and a half Avios per £1 invested. For example, if you invest £10,000 you’ll receive 10,000 Avios. Invest £20,000 and you’ll receive 30,000 Avios.

You can of course invest more, but the Avios reward is capped at 300,000 points.

It’s important to note that the offer is only open to new Nutmeg customers – defined as someone who has not previously invested with Nutmeg. This offer is valid for invested accounts opened and funded before midnight (23:59) on 21st August 2020.  ISA, Pension and Junior ISA or Child Trust Fund transfers initiated before the deadline also qualify. Any half Avios awarded will be rounded up to the nearest full Avios.

When do I receive my Avios?

Your bonus Avios 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 within 24 months of opening your account, which takes your account balance below your initial invested amount, Nutmeg reserves the right to withdraw a cash amount from the closing balance, this deduction is linked to the amount you initially invested. You can see the full table of deductions in the terms and conditions.

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. Tax treatments apply.

Comments (50)

  • Alex W says:

    Does anyone know a pension provider that I can pay a lump sum with Curve please 🙂

  • Vit says:

    “Alternatively, you can transfer ISAs from previous tax years or old pensions of any size above £500, and you will still qualify for the promotion.”

    Rob / Sinead, as per above I have a pot of pension with a previous employer through Scottish Widow. I’m no longer paying in now as obviously in a new pension pot with current employer. Would I be qualify for avios if I was gonna transfer this old pot to nutmeg?

    • BS says:

      Please please be ultra careful making financial decisions, especially serious ones like pensions. At most this offer is worth 1%, more like 0.5%. Do not base long-term decisions for things you will rely on in retirement on this!

      • Spursdebs says:

        Asking strangers on internet about such things always seems high risk to me. Asking people who run a travel site about pension investments seems absurd.

        • George says:

          I don’t know about that I took Genghis advice on an ETF and made a couple of grand in a month…easy peasy!

          Question is now what?

      • Genghis says:

        +1. Nutmeg too pricy for me. Those few bips add up over the years. Have a play around with this

        • The Savage Squirrel says:

          Absolutely +1 to Genghis here. Let those fractions of %s compound and they REALLY matter.

      • John says:

        Yes and if you decide it’s better to transfer it away from nutmeg later then there may be more fees which might negate the avios.

      • RussellH says:

        Quite agree.

        I see a lot of e-Rewards surveys about banks and they always ask about how I would recommend bank X

        I have taken to pasting in a standard reply along the lines of it being highly inappropriate for me to make such recommendations.

    • Vit says:

      Thanks guys. That’s what I just found out as well after did a bit of homework. Scottish Widows charge roughly 0.23% per year. Nutmeg charges 0.75% + 0.45% average. Understood though regarding the risk involved, it is relatively small pot however (less than 50k value at the moment).

      • jil says:

        your number on Scottish Widows is wrong, for personal pension they generally charge an annual mgmt fee 1-1.5%, in addition to other charge

        • Genghis says:

          It depends. My wife has had 3 Scottish widows pensions through employers. One was 1% and another 0.5%, which I consolidated into SIPP, and current one at 0.5% which I transfer out once a year or so.

          The difference in fees of standard retail vs special rate is shown as a rebate on the transaction log.

      • Jonathan says:

        Pension plans through employers generally have much lower fees than consumer facing providers. They mostly allow you to continue making contributions with the lower fees after you leave the firm. It’s definitely worth unifying your pot if split between lots of different providers but look at fees & flexibility. I think Scottish Widows give you a pretty good choice of funds & have a fairly good website so easy to monitor performance. Nutmeg however charge you pretty hefty fees for what is essentially an automated investment process with middle of the road performance.

        • Vit says:

          Jonathan, yes. Correct. The rate is “left-over” after leaving my former employer even though I have stopped contributing in now and looking at unified the two pots together (with my current one with new employer via Legal and General).

        • Spaghetti Town says:

          Yes – my employer has group pension plans for everyone (as do most). We get a huge discount on our annual fees as there’s thousands of employees across the UK.

      • AJA says:

        In addition to considering the fees you currently pay or might pay elsewhere please also consider what guarantees the existing fund offers. I have a very small ex-employer frozen pension fund (below £5k) with Prudential. I will not transfer out because they guarantee a tax free lump sum payment of £2,600 which is far higher than the usual 25% tax free lump sum you’re entitled to. That is worth far more than 5,000 Avios. If you’re unsure then don’t do anything. But best to get an IFA’s advice rather than from relative strangers on a travel blog.

      • BP says:

        I’ve been looking at consolidating my pensions but really struggling to understand the fees of each. It’s not very transparent. I have over £210k saved over 15 years of work so the fees do start to make a difference.

        • Genghis says:

          Have a look at the Monevator comparison table then run some numbers – ie what you want to invest in (funds – UT or OEIC – or ETFs), how often trade etc.

        • AJA says:

          You could just choose to open account with an online platform such as Interactive Investor, Nutmeg or Hargreaves Lansdown and then transfer in. If you’re not confident to do it yourself I would engage an IFA to assist you. They will charge you if you do go ahead but they then do all the investigating of what pensions will incur what and if pensions have special terms or bonuses or even if you should consolidate at all. I would expect to pay no more than 3% fee for their service (just over £6k based on your figure) It sounds like a lot but if you’ve got expensive fees on existing pensions or they are not performing brilliantly you will benefit in the long run.

    • Rob says:

      I believe you would, yes.

  • Spaghetti Town says:

    Free avios is nice, but i believe Nutmeg have higher fees. Vanguard the way to go I think.

    • ken says:

      Vanguard all the way.

      I also doubt if they will offer nasty surprises like increased fees in the future.

      If the choice bamboozles you and you don’t want to choose your own particular fund, just go for one of the Target Retirement Funds with the year you expect to retire.

  • Optimus Prime says:

    Those of you with a Vanguard SIPP should bear in mind that the moment you’ve invested more than £160k you’re better off with Interactive Investor –

    • Genghis says:

      It depends on many things.
      With Vanguard it’s an all in account fee across all accounts of 0.15% capped at £375pa (£250k invested).
      With ii it’s capped at say £240 a year (with SIPP) but that’s for one trade a month (additional trades at £8) and there’s additional £10 in drawdown.
      I may pay slightly more in the short term but Vanguard perhaps less likely to raise prices as no need to satisfy shareholders.

      • Genghis says:

        If ISA only and hardly trade, go iWeb (part of Halifax)

        • The Savage Squirrel says:

          Agree with Genghis again in the same article! iWeb – a good simple ISA product for infrequent traders (which 95% of long term investors should be if they’re doing it right!).

        • Spaghetti Town says:

          Freetrade the new platform for holding long term.

      • Optimus Prime says:

        Good point about the shareholders, hadn’t thought of that.

      • Spaghetti Town says:

        who actually owns Vanguard?

  • Andy says:

    Also remember that the investment is covered by Financial Services Compensation Scheme. This means you are only covered up to £75,000. Any more than that and you could be at risk?

    • Genghis says:

      Not really. Assets will be registered with a custodian with full segregation. No risk really. Cash will be held with a bank. If bank goes under, there’s FSCS.

      • Genghis says:

        The real risk with smaller brokers at least is them going under and you having no access to funds in the short term, until all sorted out. It’s why shouldn’t have all in one basket.

  • old bob says:

    If your really desperate for 300000 Avios you could say nuts to Nutmeg and wait for next Economist offer.
    If its like the last one, take out 17 Economist subscriptions for £179 a pop and send to relatives, mates, or even people you don’t like and get 18000 Avios for each one, cost a bit over £3k….. Simples!

    My advice today is free, largely because its Friday night and for once I’m not pissed yet!…..

  • Ryan Gill says:

    How about everyone considers that roughly speaking, things are biblical ( harvests and famines ). Your pension pot was smacked in 2007/8 and never recovered. Again now through Covid, ( lots of retail property held by pension funds ). A bit of originality needed for pension planning please. It’s no longer so simple to make money. It never was.

    • Joe says:

      If you invested your pension in even slightly sensible funds you’d have at least doubled your money since 2006. If you are down that shows a mismanagement of your money management skills.

  • TimM says:

    I hope to pick the fine brains here. For 3 years, I have been trying to transfer my defined benefit pension resulting from just 4 years as a university lecturer 2000/04. As the transfer value is over £30,00 the law says I need IFA to transfer. Some Schemes will not accept in if the advice is not to transfer. Others will. The issue is that as the FCA have told IFAs that they expect transfers on ‘an insistent basis’ (i.e. against advice) to be less than 1% of all cases. Hence IFA refuse to give advice. I have my own absolute reasons for transferring which are not taken into account in the FCA mandated calculations. If I cannot transfer, I will lose almost the entire transfer value – around £47k.

    On the off chance, when I read this HFP article yesterday, I added Nutmeg to the list of schemes I have tried to transfer to. To their credit they rejected my requested the same day. Some take weeks.

    I have sought advice from the Government-backed Pension Advisory Service. They say it is a regulatory matter and I should complain to the FCA, which I have done.

    I have requested a partial transfer from my scheme, which is discretionary, to keep the value below £30k.. The scheme has refused.

    Ideas? Thank you in advance.

    • Spaghetti Town says:

      Sorry, do you mind me asking why you have to transfer?

      • TimM says:

        No, I don’t. The £35 pw in today’s money of this pension will be totally absorbed, £ for £, into whatever the means tested regime is when, and if, I reach the age to claim it. So totally lost apart the mediocre lump sum. However, in around 20 months time, when I turn 55, I could use the transfer value to start a new business or even buy a house in Southern Spain to renovate – of which I have done plenty since 1991. It is all or nothing. I prefer all.

        • Spaghetti Town says:

          I’d go for the house in Southern Spain option, but that’s coming from someone who’s never had one, and it sounds like you of may had a few.

          I would await to see what the FCA says first before making any further moves.

    • Ian says:

      I tried to do the same with a small pension I had with a transfer value of around £50k. It’s not impossible to do but the costs of the advice are usually very high because I understand you have to use a specialist IFA who is authorised to advise on DB pension transfers. I was quoted between £4,000 and £6,000, so didn’t bother.

      • Rob says:

        The FCA is changing the rules on this. Going forward – not sure from when – only fee based advisors will be able to do these deals. The downside is that the fee needs to be the same whether or not you do the transfer so you may be faced with, for eg, paying a non-refundable £2000 irrespective of whether the advice is stay or go.

        I am thinking of doing the same with my old HSBC pot. What is annoying about that is that it is a 100% certainty that the transfer will be recommended but I still need to pay for the advice.