Earn yourself a flight or hotel stay by collecting Avois points as you invest with Nutmeg.
What’s the deal exactly?
You can earn up to 50,000 Avios points when you create and fund a Nutmeg account for the first time. This can be general investing, a stocks and shares Isa (individual savings account) or a pension.
You must make either an opening deposit of £500, as well as committing to an ongoing £100 monthly contribution, or make an initial contribution of at least £5,000.
You will earn one Avios point for each £1 you invest, up to a £50,000 limit - which would give you 50,000 points.
To put that into context, you can get a return flight from London to most major European cities for less than 20,000 Avios points. You can also spend your points on hotels and days out. But remember, when you use Avios points you still need to pay taxes and charges, which can add a considerable cost to your bill.
Why should I care?
If you already collect Avois points this deal will help you build up your balance.
If you’re investing in an Isa then remember the tax year is coming to an end - so you have until 5 April to use your £15,240 Isa allowance for 2016/17 – but you can only open one stocks and shares Isa each tax year. However, this offer runs until 9 April so you can also open an account at the start of the 2017/18 tax year. The Isa limit for the next tax year is £20,000.
What’s the catch?
This deal is only open to people who haven’t invested using Nutmeg before. So if you already hold a Nutmeg account or you have in the past then you can’t take advantage. The points are only payable on accounts which are opened between now and 23:59 on 9 April 2017.
Points also are earned on Isa transfers, but only if they are bigger than £10,000.
What other options do I have?
Many Isa providers are offering freebies and incentives to open up an account, read Moneywise’s guide to see what’s on offer and work out what’s best for you.
You can also earn Avios points on credit card spending. For example, the Lloyds Bank Avios Rewards Credit Card pays 1.25 in Avios points for £1 of spending on the American Express version of the card and 1.25 points on £5 of spending on the Mastercard version. Even Tesco Clubcard points can be swapped for Avios at a rate of 600 Avios points for every £2.50 in Clubcard vouchers.
Where can I find out more?
Full details of the offer are available on the Nutmeg website.