Hargreaves investment platforms Lansdown and II offer up to £5,000 to transfer – but time is running out

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Investors can get up to £5,000 on the Hargreaves Lansdown and Interactive Investor platforms, with both offering great cashback offers.

Customers could get up until £5,000 with Interactive investor offer*, although they would have to transfer a huge £2m pension to a II Sipp to get that sum.

The offer ends on January 31, so it’s almost time for customers to collect the bonus.

Those transferring from more normal-sized pension and investment funds could recoup hundreds of pounds in cashback.

In the meantime, Hargreaves Lansdown offers customers up to £3,500*who transfer a pension of £1 million to a Sipp, or up to £1,000 when transferring investment accounts worth £80,000 or more.

We take a look at how much you could get and how the cashback offers compare.

Cashback Battle: Hargreaves Lansdown and Interactive Investor both offer cashback bonuses to investors who open or transfer to them

Cashback Battle: Hargreaves Lansdown and Interactive Investor both offer cashback bonuses to investors who open or transfer to them

Spread your Isa across all banks before the new rules at Active Savings

Savers will now be able to split their Isa allocation between different types of Isa cash and different providers.

From today, Hargreaves Lansdown’s Active Savings cash platform will allow savers to spread their Isa allocation across multiple banks, with easy, limited access and fixed rates.

> Read more: The new Isa benefit from the Hargreaves Lansdown savings platform

Interactive Investor

Interactive Investor has launched its cashback offer for investors sorting out their investments for the new year.

To get the cashback, investors must open or transfer funds to an Interactive Investor Isa, Sipp or general investment account before January 31.

Interactive Investor’s Sipp offer starts at £100 cashback for investors depositing or transferring the minimum eligible amount of £10,000. Cashback increases the more you deposit or transfer, increasing to £5,000 for amounts over £2 million.

For the Isa deal and general investment account, cashback increases from £100 on deposits or a transfer value of £2,000, which is the minimum deposit, to £1,500 for values ​​over £500,000 .

Check the table to see how much cashback you could earn based on the amount you put into the account.

> Learn more about Interactive Investor’s cashback offers*

Sipp Cashback for Interactive Investors
Value of deposit/transfer Cash back
£10,000 – £24,999 £100
£25,000 – £99,999 £200
£100,000 – £199,999 £500
£200,000 – £499,999 £750
£500,000 – £999,999 £1,500
£1,000,000 – £1,499,000 £3,000
£1,500,000 – £1,999,999 £4,000
£2,000,000+ £5,000
Interactive Investor Isa and Investment Account Cashback
Value of deposit/transfer Cash back
£2,000 – £9,999 £100
£10,000 – £19,999 £150
£20,000 – £49,999 £250
£50,000 – £99,999 £500
£100,000 – £199,999 £750
£200,000 – £499,999 £1,000
£500,000+ £1,500

Hargreaves-Lansdown

Hargreaves Lansdown has launched its biggest ever cashback offer before Christmas.

To benefit from the offer, customers must register for the transfer cashback offer and apply before February 29, 2024.

If you’re transferring a pension or Sipp, you can get up to £3,500 cashback when you transfer pensions worth a total of £10,000 or more to a Hargreaves Lansdown Sipp or Drawdown Pension.

Transfers between £10,000 and £29,999 will receive £100 cashback, while transfers of £1 million and above will receive a maximum cashback of £3,500.

Investors can get up to £1,000 cashback when transferring investment accounts* worth £4,000 or more in an HL Stocks and Shares Isa account or an HL Fund and Share account.

Cash Isa transfers to a Stocks and Shares Isa are also eligible for the deal, but depositing share certificates does not qualify for cashback.

You can get £50 cashback for a transfer worth between £4,000 and £9,999 and a maximum of £1,000 for a transfer worth £80,000 or more.

There are no Hargreaves Lansdown fees for transferring investments and the annual investment holding fee does not exceed 0.45 per cent, according to the platform.

Savers who sign up to the cashback offer and open a new Hargreaves Lansdown Active savings* before January 31, 2024 will also be able to benefit from the cashback offer.

You must add at least £5,000 of new money via debit card or Pay By Bank into a savings product within 60 days of account opening to get up to £100 cashback depending on the amount added .

> Find out more about the Hargreaves Landown cashback offer*

HL Pension Cashback and Sipp
Transfer value Cash back
£10,000 – £29,999 £100
£30,000 – £59,999 £250
£60,000 – £89,999 £500
£90,000 – £109,999 £1,000
£110,000 – £124,999 £1,250
£125,000 – £999,000 £1,500
£1 million and above £3,500
HL Isa and investment account cashback
Transfer value Cash back
£4,000 – £9,999 £50
£10,000 – £19,999 £100
£20,000 – £39,999 £150
£40,000 – £59,999 £300
£60,000 – £79,999 £500
£80,000+ £1,000

Is it worth opting for cashback?

The cashback amounts offered by Interactive Investor and Hargreaves Lansdown are significant, but you need to make sure the platform is right for you rather than just taking money to move. Read our guide to the best investment platforms.

If you have a large pension fund to transfer, Interactive Investor’s cashback looks attractive – but as with any big decision like this, doing your due diligence is essential.

Keep exit fees in mind. Your current pension provider may charge you an exit fee if you plan to leave or transfer your current pension.

If you later decide to move, there are no fees to transfer your account out of HL and Interactive Investor removed Sipp exit fees in 2018.

All retirement investments gain and lose value over time, even those invested in safe asset and investment classes.

Please remember that transferring pensions can take time and during this time you will not be able to transact and may be exposed to fluctuations in the value of your pension.

This usually takes 2-4 weeks depending on your supplier according to Hargreaves Lansdown.

Interactive Investor is offering an additional investor bonus of £200 cashback to those who refer a friend or family member.

If you’re concerned about fees, Interactive Investor offers flat rates rather than fees calculated as a percentage of clients’ investments. This may work better for investors with large pots.

On the other hand, Hargreaves Lansdown charges 0.45% per annum on investments, but this is mostly capped at £45 per annum for unit trusts, ETFs and shares.

If you’re thinking of giving your investments a boost, Hargreaves Lansdown’s cashback offer offers less cashback for the amount you deposit or transfer into an Isa or general investment account.

It’s also capped at £80,000, so even if you have a larger amount to transfer, you won’t get more than £1,000 in cashback.

Hargreaves Lansdown also offers a cashback offer for its cash platform, which Interactive Investor does not offer.

Savers who sign up to the cashback offer and open a new Hargreaves Lansdown Active savings* account before January 31, 2024 will be able to benefit from the cashback offer.

You must add at least £5,000 of new money via debit card or Pay By Bank into a savings product within 60 days of account opening to get up to £100 cashback depending on the amount added .

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