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 cashback for opening a new account, free shares for funding an ISA or SIPP before the end of the tax year, 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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
There are plenty of ISA transfer offers for UK investors to choose from, as well as cashback bonuses for those moving or opening 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 whether you're eligible for the cash bonus or perk.
We list the providers with 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 28 February 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 or more | £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.
Hargreaves Lansdown - Up to £3,000 for transferring or contributing to a SIPP or ISA
The UK's biggest investment platform is offering between £100 and £3,000 in cashback to any new customers contributing a minimum of £10,000 into a newly opened stocks and shares ISA or SIPP. The deal is also open to existing clients transferring into an existing account.
You will need to transfer in or contribute at least £1 million to qualify for the top cashback amount of £3,000.
The offer is available until 5 April 2025. If you take money out of your ISA or SIPP before 31 March 2026, you may not receive the cashback. The cashback will be paid by 30 April 2026.
The platform says it wants "as many people as possible to benefit from the opportunity presented by tax year end to maximise their tax-free savings and investments".
| Amount paid in and/or transferred | 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 | £1,000 | Row 4 - Cell 2 |
| £1,000,000+ | £3,000 | Row 5 - Cell 2 |
£50,000 prize draw
Clients topping up their HL Stocks & Shares ISA, Lifetime ISA, Cash ISA or SIPP by a minimum of £3,500 in one single account, will be automatically entered into a prize draw for two chances to win £50,000.
The offer applies to contributions made between 10 February and 5 April 2025 (transfers do not qualify). You’ll need to keep the qualifying amount in your account until 20 May 2025.
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 more | £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.
Freetrade - Up to £2,000 of free shares when you contribute to an ISA or SIPP
The trading platform is giving away up to £2,000 worth of free shares when customers pay at least £5,000 into their ISA or SIPP.
To gain the maximum £2,000, customers must contribute at least £500,000. Those paying in less than £10,000 will receive £50 of free shares. For example, if you transfer £5,000 to your SIPP and £10,000 to your ISA, you will receive a £50 and £150 free share.
The offer ends on 5 April, and is open to new and existing customers. The free shares will be "randomly selected from a pool of instruments" chosen by Freetrade. They will be paid into the customer's Freetrade general investment account by 15 July 2025.
| Amount invested | Free share award | Row 0 - Cell 2 |
| £5,000 - £9,999 | £50 | Row 1 - Cell 2 |
| £10,000 - £19,999 | £150 | Row 2 - Cell 2 |
| £20,000 - £49,999 | £300 | Row 3 - Cell 2 |
| £50,000 - £79,999 | £500 | Row 4 - Cell 2 |
| £80,000 - £159,999 | £800 | Row 5 - Cell 2 |
| £160,000 - £249,999 | £1,200 | Row 6 - Cell 2 |
| £250,000 - £449,999 | £1,600 | Row 7 - Cell 2 |
| £500,000+ | £2,000 | Row 8 - Cell 2 |
Moneyfarm - Up to £1,000 when you invest or transfer an ISA
New clients can grab up to £1,000 cashback from Moneyfarm, when they open a stocks and shares ISA, junior ISA or general investment account.
You must deposit or transfer in at least £10,000, and it must remain invested for at least two years.
To be eligible, you must register your interest via the dedicated landing page and open a new portfolio by 11 April 2025, and Moneyfarm must receive the qualifying deposit or request to transfer to your new account by 30 April.
| Amount invested | Cashback | Row 0 - Cell 2 |
| £10,000 - £19,999 | £100 | Row 1 - Cell 2 |
| £20,000 - £49,999 | £200 | Row 2 - Cell 2 |
| £50,000 - £99,999 | £500 | Row 3 - Cell 2 |
| £100,000 or more | £1,000 | Row 4 - Cell 2 |
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 last year, 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 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.
-
Why Chinese stocks are so far out of favourThere’s little appetite for Chinese stocks despite low valuations.
-
The 62 UK areas where you could be priced out of using your Lifetime ISASaving for your first home in Croydon, Ealing, Brent or any one of these other locations? You could be at risk of being priced out of using your Lifetime ISA
-
Act now to bag NatWest-owned Ulster Bank's 5.2% easy access savings accountUlster Bank is offering savers the chance to earn 5.2% on their cash savings, but you need to act fast as easy access rates are falling. We have all the details
-
Moneybox raises market-leading cash ISA to 5%Savings and investing app MoneyBox has boosted the rate on its cash ISA again, hiking it from 4.75% to 5% making it one of top rates. We have all the details.
-
October NS&I Premium Bonds winners - check now to see what you wonNS&I Premium Bonds holders can check now to see if they have won a prize this month. We explain how to check your premium bonds
-
Bank of Baroda closes doors to UK retail bankingAfter almost 70 years of operating in the UK, one of India’s largest bank is shutting up shop in the UK retail banking market. We explain everything you need to know if you have savings or a current account with Bank of Baroda
-
How to earn cashback on spendingFrom credit cards and current accounts to cashback websites, there are plenty of ways to earn cashback on the money you spend
-
John Lewis mulls buy now, pay later schemeThe CEO of John Lewis has said the retailer will consider introducing buy now, pay later initiatives for lower-priced items.
-
Paragon raises rate on one-year fixed cash ISA to 5.75%Paragon Bank ups its one-year fixed cash ISA rate to 5.75% - is it enough to top the table?
-
Shawbrook ups rate again on easy access saver products – how does it compare?Shawbrook bank has hiked the rates on its easy access saver and ISA again – but does it compete with other rates on the market?
