Is it worth claiming £100 to switch your ISA to Interactive Investor?

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Interactive Investor offering £100 cash back if you switch to it’s ISA account.

Investment platform Interactive Investor is well known for its flat fee no-nonsense approach to trading and investing, which has earned it a loyal and sizeable customer base.

However, the firm is currently offering a special promotion designed to entice existing ISA investors into its ranks with a special cash back offer.

Interactive Investor clients are able to manage their stocks and shares ISAs for a flat fee of just £9.95 per month and the firm even throws in a free trade in lieu of that consideration.

How does the Interactive Investor ISA Switch Cashback offer work?

Under current legislation, ISA investors can put up to £20,000 per annum into this tax-free shelter

  • This money can be invested as a lump sum or as regular monthly savings or top-ups.
  • Interactive Investors allows you to save from as little as £25.00 per month into a stocks and shares ISA and to do so via direct debit.
  • The money can be invested into equities such as the FTSE 350 stocks or a range of carefully curated funds.
  • Regular ISA investors pay no trading fees at interactive investors – see how regular investing compares to investing lump sums here…

However, Interactive Investor’s new offer is designed to tempt those who have existing stocks and shares ISAs to move from their current provider to II.

The ISA transfer is free of charge from the Interactive Investor’s end, and they will give you £100.00 cash back if you switch your ISA over to them.

How can you claim the interactive investor ISA £100 cashback switching offer?

To take the advantage of this offer you need to open an II account and an associated ISA which can be done online. Then from your new online account simply select cash and transfers, and then transfer in. Interactive Investors will take care of the rest and keep you updated on the transfer’s progress.

There is a caveat however and that is that to qualify for the cashback offer you will need to be transferring a stock and shares ISA with a value of £20,000 or larger.

They may mean it’s not for everybody but if you do have an established and qualifying ISA and are looking for a new home for your investments then this could well be worth your consideration.

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