Investment platforms are competing to attract new customers by offering up to £2,000 cashback for opening or transferring an ISA or self-invested personal pension (SIPP).
Others are giving out cash or vouchers for referring a friend, money to cover exit fees when switching from a competitor, or free trades.
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The best SIPP and ISA transfer offers
Fidelity - Up to £2,000 for transferring or paying a lump sum into its SIPP
Pension savers can earn between £200 and £2,000 cashback when they transfer a pension or pay a lump sum into Fidelity’s SIPP.
The offer runs from 8 September until 10 November 2025. The cashback will be available through a tiered structure, with a minimum eligibility amount of £35,000. The payment will be based on the total combined value of pension transfers and lump sum contributions made during the offer period.
Fidelity will pay the cashback directly into customers' Cash Management Accounts within 90 days following the closure of the offer (10 November). If your transfer hasn’t completed by then, the cashback will be paid within 90 days after the completion of your last eligible transfer.
Total value | Cashback amount |
|---|---|
£35,000 - £49,999 | £200 |
£50,000 - £99,999 | £300 |
£100,000 - £249,999 | £600 |
£250,000 - £499,999 | £1,000 |
£500,000 - £749,999 | £1,250 |
£750,000 - £999,999 | £1,500 |
£1,000,000 or over | £2,000 |
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.
Charles Stanley Direct - Up to £1,500 cashback when you transfer ISAs and pensions
You can get up to £1,500 cashback if you transfer your cash and/or investments held with another provider to the Charles Stanley Direct Online Investing platform.
The amount of cashback you earn increases the more you transfer, and applies to general investment accounts, stocks and shares ISAs, Junior ISAs and SIPPs.
This is an ongoing offer with no end date. You need to transfer at least £20,000 to qualify for any cashback. If you move over £200,000 or more, you'll get the maximum £1,500 bonus plus a six-month fee waiver.
The money must be held with Charles Stanley Direct for at least a year; the cashback payment will then be made within 30 days of the end of the 12-month period.
Transfer-in value | Cashback payable |
|---|---|
Less than £20,000 | Not eligible for cashback |
£20,000 - £49,999 | £300 |
£50,000 - £99,999 | £600 |
£100,000 - £199,999 | £1,000 |
£200,000 or more | £1,500 plus six-month fee waiver |
Charles Stanley Direct’s customers can also earn between £100 and £1,000 when they refer friends and family to the investment platform.
Similar to the cashback payment outlined above, at least £20,000 must be transferred by the friend or family member, and to qualify for the top amount, £200,000 or more must be transferred.
Anyone referred has to be over the age of 18, a resident of the UK and not already an existing client of Charles Stanley. There is no limit to the number of referrals that clients can make.
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. You’ll 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.
Interactive Investor - £200 cashback for transferring to its SIPP
Interactive Investor is paying a flat £200 cashback to customers that open its SIPP and transfer or deposit a minimum of £15,000.
The cashback will be paid within 30 days. Existing SIPP customers aren’t eligible for the offer. The offer ends on 30 September 2025.
If you're 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.
New customers can enjoy £50 towards their trading fees when they open an Interactive Investor ISA or trading account. The offer ends on 30 September. The £50 of trading credits will be available for use until midnight on 31 December 2025.
InvestEngine - Up to £200 referral bonus
InvestEngine’s customers can get between £20 and £100 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 £100 and £200.
Customers can refer up to 25 friends. You must keep your bonus invested for at least 12 months before you can withdraw it.
Nutmeg - Up to £200 Amazon giftcard for referring a friend
Nutmeg recently launched an enhanced "refer a friend programme", which pays out up to £200 in Amazon vouchers while the person referred pays no management fee for the first six months.
Nutmeg clients need to send a unique referral link to a friend (which can be found in their online account), and the friend must invest at least £500.
Clients receive an Amazon.co.uk gift card worth £200 if the friend invests in an ISA, personal pension or general investment account, or £100 for a Lifetime ISA or Junior ISA.
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 2024, if you wanted to transfer your money to another ISA provider, it would have had to be the full amount. But now, new multiple 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.
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