Investment platforms are competing to attract new customers by offering up to £5,000 “free” cash for transferring an ISA or self-invested personal pension (SIPP).
Others are offering free trades for opening an ISA, cash for referring a friend, or money to cover exit fees when switching from a competitor.
If you're thinking of where to invest your ISA or SIPP this year, it makes sense to ensure you're with the best investment platform, and to see if there's any cashback you can scoop up when opening or transferring an account.
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There are plenty of ISA transfer offers for UK investors to choose from, as well as cashback bonuses for those moving a pension.
Remember to do your research to make sure you are happy with the new platform's fees, investment choice and customer service, and to carefully check the criteria of who is eligible for the cash bonus or perk.
We list the providers offering stocks and shares ISA transfer offers and SIPP cashback deals right now.
The best SIPP and ISA transfer offers
Nutmeg - Up to £5,000 cashback when you transfer ISAs and pensions
The UK's biggest digital wealth manager is offering 1% cashback when at least £10,000 is transferred from existing ISAs, pensions and/or child trust funds (CTFs).
Those transferring £10,000 will receive £100 in cashback, while those moving the maximum amount of £500,000 will earn £5,000.
Stocks and shares ISAs, cash ISAs, lifetime ISAs, junior ISAs, CTFs and pensions can all be transferred to Nutmeg.
The transfer(s) must be initiated by 30 May 2025, and customers must stay with Nutmeg until at least 30 May 2026. The cashback will then be paid by the end of June next year.
The offer is open to new and existing customers.
Interactive Investor – Up to £3,000 for transferring a pension
Pension savers that join Interactive Investor and transfer or pay in at least £10,000 into its SIPP can claim cashback of between £100 and £3,000.
To claim the maximum amount, you'll need to fund the SIPP with at least £2 million.
Moving a pension(s) into the SIPP counts towards the cashback. The bonus is subject to a 12-month holding period.
The cashback will be paid within 30 days of the deposit or transfer arriving in the SIPP account.
You'll need to be quick if you want to take advantage of this offer, as it ends on 31 January 2025.
| Total funding amount | Cashback | Row 0 - Cell 2 |
| £10,000 - £99,999 | £100 | Row 1 - Cell 2 |
| £100,000 - £249,999 | £250 | Row 2 - Cell 2 |
| £250,000 - £499,999 | £500 | Row 3 - Cell 2 |
| £500,000 - £999,999 | £800 | Row 4 - Cell 2 |
| £1,000,000 - £1,499,999 | £1,000 | Row 5 - Cell 2 |
| £1,500,000 - £1,999,999 | £2,000 | Row 6 - Cell 2 |
| £2,000,000 | £3,000 | Row 7 - Cell 2 |
£200 referral bonus
If you're already an Interactive Investor customer, you can get a £200 reward when you refer a friend.
Your friend will also get their first year’s service plan, worth £120, for free. To qualify, your friend must transfer or fund their account with at least £5,000.
£100 free trades
New customers can get £100 worth of free trades when they open a stocks and shares ISA by 31 January 2025.
That's the equivalent of up to 25 free trades.
Fidelity - Up to £2,500 for transferring a pension
Pension savers that move to Fidelity's SIPP can earn between £500 and £2,500 in cashback, thanks to the investment giant's latest transfer offer.
To get the maximum £2,500, you'll need to transfer £1 million or more.
You must apply to transfer by 1 April 2025, and the offer also applies to any ISAs or other investment accounts that you move across.
The cashback is based on the combined value of all investments that are switched to Fidelity. It will be paid within 90 days following the closure of the offer (1 April 2025).
If you move your assets to another provider within 18 months of completing your transfer, Fidelity may recoup the payment.
| Total transfer value | Cashback | Row 0 - Cell 2 |
| £50,000 - £74,999 | £500 | Row 1 - Cell 2 |
| £75,000 - £99,999 | £750 | Row 2 - Cell 2 |
| £100,000 - £249,999 | £1,000 | Row 3 - Cell 2 |
| £250,000 - £499,999 | £1,250 | Row 4 - Cell 2 |
| £500,000 - £749,999 | £1,500 | Row 5 - Cell 2 |
| £750,000 - £999,999 | £1,750 | Row 6 - Cell 2 |
| £1,000,000 or over | £2,500 | Row 7 - Cell 2 |
Up to £500 towards transfer fees
Fidelity will reimburse any exit or redemption fees charged to a customer by their former provider when moving their ISAs, pensions, investment accounts, or junior accounts to the platform, up to a maximum amount of £500 per customer. The minimum transfer is £100.
Where a re-registration or transfer is not possible and the customer chooses to sell their investments held through another provider and subsequently make new investments through Fidelity, the platform will also cover up to £500 of fees. This is based on a minimum £10,000 investment though.
Claims for this money must be made within six months from the date of transfer.
Santander - Up to £1,000 when you transfer a pension
Santander's cashback offer allows customers to earn between £50 and £1,000 when they pay money into their pension.
This can either be transferring another pension into Santander's personal pension, or making a deposit.
The deal runs until 25 April 2025. The transfer of any pension(s) must be completed in full by 26 August 2025, in order for the cashback to be paid.
The cashback will be paid on or before 25 November 2025.
| Deposit / transfer value | Cashback |
|---|---|
| £5,000 - £9,999 | £50 |
| £10,000 - £24,999 | £100 |
| £25,000 - £49,999 | £250 |
| £50,000 - £74,999 | £350 |
| £75,000 - £99,999 | £500 |
| £100,000 or more | £1,000 |
Wealthify – Up to £500 when you transfer an ISA
New and existing customers who transfer or deposit money into a Wealthify Investment ISA can get up to £500 in cashback.
The minimum deposit or transfer value is £5,000, which will attract £50 cashback. The maximum £500 cashback is paid to values of £70,000 or more.
The offer is open for registration until 30 June 2025. Customers will need to remain invested for 18 months following the date of registration; the cashback is then paid within 30 days.
| Deposit / transfer value | Cashback |
|---|---|
| £5,000 to £10,000 | £50 |
| Over £10,000 | £100 |
| Over £20,000 | £150 |
| Over £30,000 | £250 |
| Over £40,000 | £350 |
| Over £50,000 | £400 |
| Over £70,000 | £500 |
AJ Bell – Up to £500 towards transfer costs
AJ Bell will cover the costs when transferring a pension, ISA or dealing account. It will pay up to £35 per investment moved and up to £100 for general exit fees, up to an overall maximum of £500 per person.
To be eligible, the account being transferred must be valued at £20,000 or more.
Once you make the transfer, you need to write to the platform with documentation and will receive the money back within 28 working days.
You must keep the transferred funds in your account for at least 12 months or the money could be reclaimed.
InvestEngine – Up to £100 referral bonus
Robo-wealth manager InvestEngine will give customers an investment bonus of between £10 and £50 when they recommend a friend and the friend invests at least £100. The friend will also receive the bonus.
If you refer someone to a Business Account, the bonus is increased to between £50 and £100.
Customers can refer up to 25 friends. You must keep your bonus invested for at least 12 months before you can withdraw it.
Things to consider when transferring an ISA
You can transfer your ISA from one provider to another at any time, either to a different type of ISA or the same type of ISA.
Before 6 April, if you wanted to transfer your money to another ISA provider, it would have had to be the full amount. Since the 2024-25 tax year began, new ISA rules mean you have the flexibility to choose to move some or all of the funds.
To transfer your ISA, simply contact your provider and fill out the transfer form to move your account.
If you withdraw the money without doing this, it will lose its tax-free status, so make sure you’re following the correct process. Transfers typically take anywhere between 15 to 30 days.
Check that there is no charge to transfer your current ISA, as well as your new provider’s fees, to make sure it makes sense to move your money. If the new provider’s fees are higher, then it might be worth sticking with your current provider.
Equally, if the transfer fee would eat into your savings (and you can't reclaim this from the new platform), it might not be worth it.
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