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.
Nutmeg was awarded the Boring Money Best Buy ISA 2021, Best For Sustainable ISA 2021 and Best For Sustainable Pension 2021. They also won Best LISA Provider at the Online Personal Wealth Award 2021 and the company is rated ‘Excellent’ on Trustpilot.
The company now has over £4 billion of assets under management and over 150,000 investors.
How much do I need to invest?
You can open an account with the minimum contribution for a Junior ISA, a Lifetime ISA, a stocks and shares ISA, a personal pension or a General Investment Account (GIA) 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 2022, 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 January 2022, 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 £200,000
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 2.0 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.)
How to earn Avios from UK credit cards (October 2022)
As a reminder, there are various ways of earning Avios points from UK credit cards. Many cards also have generous sign-up bonuses!
In February 2022, Barclaycard launched two exciting new Barclaycard Avios Mastercard cards with a bonus of up to 25,000 Avios. You can apply here.
You qualify for the bonus on these cards even if you have a British Airways American Express card:
There are two official British Airways American Express cards with attractive sign-up bonuses:
You can also get generous sign-up bonuses by applying for American Express cards which earn Membership Rewards points.
EDIT: Until 25th October 2022, there is an exceptionally generous sign-up bonus on The Platinum Card. You will receive 60,000 Membership Rewards points – double the usual amount – and £200 to spend at Amex Travel. You need to spend £6,000 within six months to earn the bonus.
Run your own business?
We recommend Capital On Tap for limited companies. You earn 1 Avios per £1 which is impressive for a Visa card, along with a sign-up bonus worth 10,000 Avios.
You should also consider the British Airways Accelerating Business credit card. This is open to sole traders as well as limited companies and has a 30,000 Avios sign-up bonus.
There are also good bonuses on the two American Express Business cards, with the points converting at 1:1 into Avios. These are available to sole traders as well as limited companies.
Click here to read our detailed summary of all UK credit cards which earn Avios. This includes both personal and small business cards.