Get up to 200,000 Avios with Nutmeg – for both new and existing customers

This article is sponsored by Nutmeg

Nutmeg, the digital wealth manager, has launched a new Avios offer for 2021.

You can earn up to 200,000 Avios by transferring an existing Stocks & Shares ISA or pension into Nutmeg by 18th July.

Even better, the offer is available for new and existing customers, so you won’t miss out if you’re already investing with Nutmeg.

The offer is for ISA and pension transfers only and not applicable for opening a brand new pension or ISA where no transfer takes place.

The bonus you get depends on the exact amount you transfer, starting with a 2,500 Avios bonus when you transfer £5,000 or more.

The reward is based on the cumulative value of the transfer throughout the offer period which is beneficial if you choose to consolidate several existing ISAs or pensions with Nutmeg.

The Avios earning rate increases to 1 point per £1 transferred for transfers of £50,000+. A £200,000+ investment earns you the maximum 200,000 Avios. Full details of the offer can be found here or here for existing customers.

Choose between Avios or an investment reward

Nutmeg has decided to add an Avios incentive to its usual transfer offer this year.

When you make your transfer bonus you can choose whether you wish to receive Avios or an ‘investment boost’. An investment boost is simply a cash bonus that is placed directly into your investment account.

Because of the ‘investment boost’ option you are effectively buying Avios at 1p if you choose points. This is decent value – you would struggle to buy Avios cheaper. Even during the 75% buy Avios bonus last year you were only getting Avios for slightly less at 0.9p.

What is Nutmeg?

Nutmeg is an 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 is 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.

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

The company was the first, and is the largest, digital wealth manager in the UK and now manages over £3 billion on behalf of over 130,000 investors (source: Boring Money, January 2021).

What transfers are eligible?

Only transfers of ISAs and pensions are eligible for the offer. You can transfer existing cash and stocks and shares ISAs.

General investment accounts, Lifetime ISA and Junior ISAs are not included.

For clarity, you will not receive a bonus if you are investing ‘new’ money not previously held in an ISA or pension. This time around, Nutmeg is only incentivising transfers of existing investments to its platform.

Why should I transfer to 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?

Your Avios bonus depends on the value of the investments you are transferring.

You receive no bonus for investments under £5,000.

The full terms and conditions are here for existing customer transfers or here for new customer transfers.

You can of course transfer more, but the Avios reward is capped at 200,000 points and the ‘investment boost’ alternative is capped at £2,000.

When do I receive my Avios?

Avios will be awarded to your British Airways Executive Club account within six months of initiating your product transfer request. If the product transfer requires more than six months to be completed, the Avios will be awarded to your BAEC account upon transfer completion.

How do I apply?

If you are new to Nutmeg then go to the offer registration page using this link, where you can enter your email (remembering to add your British Airways Executive Club number if you are choosing Avios) then proceed to the account opening process during which you can initiate your transfer. Existing customers should use this link, and register with the email you use for Nutmeg, before logging in to your account to initiate your transfer.

Applications via the standard Nutmeg home page will not earn any Avios or the investment boost.

Remember, as with all investing, that your capital is at risk. Tax treatments depend on your individual circumstances and may change in the future. T&Cs apply. The value of your portfolio with Nutmeg can go down as well as up and you may get back less than you invest.