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I see an 8000 FC miles offer for putting £5k in a Virgin ISA – is that a reasonable return? You can take it out after a month. Virgin fees are pretty low right?
Was wondering about this also
Can anyone predict how much this may end up costing ?No. Nobody can predict the costs other than saying do not do this for the points unless you like a gamble.
The terms and conditions state you need to keep your money invested until 31 July. So to only have money in for a month, you need to pay in right at the end of June.
Annual fee of 0.75% is a bit over £3 a month on £5k so very little.
The lowest risk option they seem to have is 40% in equities. Ignoring the other 60% which hypothetically could go down also, a 10% stock market correction in July would cost 4% of your £5,000 which would be £200.
I didn’t investigate to see if they let you leave it sitting in cash while you decide how you would wish to invest as that would obviously make things simpler.
8,000 Virgin points are maybe worth £80.
I wouldn’t do it but then I use my ISA allowance elsewhere.
You can do the same offer in a general investment account. No need to use your ISA allowance (or eligibility for S&S ISA subscriptions).
You won’t be able to contribute to another S&S ISA this year
You can do the same offer in a general investment account. No need to use your ISA allowance (or eligibility for S&S ISA subscriptions).
So they do. And they offer a “defensive fund” which would be unlikely to move more than a percent or so a month (you’d hope) unless there is the mother of all melt downs.
So that would probably work if you can be bothered with the faff.
And they offer a “defensive fund” which would be unlikely to move more than a percent or so a month (you’d hope) unless there is the mother of all melt downs.
Tbf, during a meltdown, a defensive fund could perform better.
I currently have 2 S&S ISAs – one with a balance but haven’t paid into this tax year, and a second which I am regularly paying into this tax year.
Can I open the virgin S&S ISA and transfer the first S&S into it? Or does that count as paying into more than one ISA in a tax year?
I currently have 2 S&S ISAs – one with a balance but haven’t paid into this tax year, and a second which I am regularly paying into this tax year.
Can I open the virgin S&S ISA and transfer the first S&S into it? Or does that count as paying into more than one ISA in a tax year?
That counts as paying into more than one ISA and therefore not allowed. Its the disadvantage of using signup / switch offers for ISA accounts. why not open a GIA?
I currently have 2 S&S ISAs – one with a balance but haven’t paid into this tax year, and a second which I am regularly paying into this tax year.
Can I open the virgin S&S ISA and transfer the first S&S into it? Or does that count as paying into more than one ISA in a tax year?
This is fine. An ISA transfer does not count as a subscription.
You can do the same offer in a general investment account. No need to use your ISA allowance (or eligibility for S&S ISA subscriptions).
Where is this offer available?
Virgin Red
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