The Offer
1. The following terms and conditions apply to this Transfer Offer Promotion (the “Promotion”).
2. As part of this Promotion, if you transfer an ISA and/or a Pension and/or a JISA or Child Trust Fund to Nutmeg Saving & Investment Limited (“Nutmeg”) you will receive:
(a) cashback into your portfolio as “un-allocated cash” (also see clause 15 below), with a minimum cashback of £25 up to a maximum cashback of £3,000 as set out in Table 1a below (the “Investment Boost Reward”); OR
(b) an Avios reward, with a minimum of 2,500 Avios points up to a maximum of 300,000 Avios points as set out in Table 1b below (the “Avios Reward”).
3. You must opt for either the Investment Boost Reward or the Avios Reward. You cannot receive both, they are not cumulative and may not be combined.
4. The main agreement between you and Nutmeg which covers the provision of investment services to you by Nutmeg is set out in the Nutmeg Standard Terms and Conditions (“Nutmeg Standard T&Cs”), which are available here. These terms are the “Promotional Offer T&Cs”. The Promotional Offer T&Cs set out additional terms, including some terms which amend the Nutmeg Standard T&Cs. You should read both sets of T&Cs before redeeming the Investment Boost Reward or the Avios Reward.
5. The capitalised words in these Promotional Offer T&Cs have the same meaning as in the Nutmeg Standard T&Cs, unless they are expressly given a different meaning here.
6. If there is an inconsistency between (a) the Promotional Offer T&Cs and (b) the Nutmeg Standard T&Cs, these Promotional Offer T&Cs will apply.
7. By completing the product transfer request in accordance with paragraph 11(b) or 12(b) below, you are agreeing to be bound by these Promotional Offer T&Cs and the Nutmeg Standard T&Cs.
Availability
8. The Promotion will run from 00:01 on 15th June 2023 to 23:59 on 15th August 2023 (the “Promotion Period”).
9. This Promotion is open to New and Existing Customers (defined below) who wish to transfer an existing ISA, JISA/Child Trust Fund or pension from another provider to Nutmeg.
(a). Existing Customers are individuals who are Nutmeg customers that have opened an account before the 15th of June 2023.
(b). New Customers are individuals who:
(i). Have not invested with, or used the services of Nutmeg before; and
(ii). Meet the eligibility requirements in Sections 1.1 and 1.2 of the Nutmeg Standard T&Cs, at the date of opening a Nutmeg account; and
(iii). Will be transferring an existing ISA, JISA/Child Trust Fund or pension into a Nutmeg Stocks and Shares ISA, JISA or a Personal Pension Account.
10. This Promotion cannot be claimed:
(a). in conjunction with any other Nutmeg offer or promotion for New Customers; or
(b). to transfer an existing ISA or Lifetime ISA into a Nutmeg Lifetime ISA; or
(c). to transfer a defined benefit pension scheme into a Nutmeg Personal Pension; or
(d). to transfer any eligible product into a Nutmeg 100%-cash pot.
(e). by those who currently have a John Lewis Investments account
Accepting the Offer - Investment Boost Reward
11. To accept Nutmeg’s offer, and receive the Investment Boost Reward (into “un-allocated cash”) as set out in Table 1a below, you must do each of the following things during the Promotion Period:
(a). Initiate a transfer of an existing ISA, JISA/Child Trust Fund or pension into a Nutmeg Stocks and Shares ISA, JISA or a Personal Pension Account;
(b). Ensure that the transfer(s) you initiate meets the minimum transfer value of £5,000. If you complete multiple transfers, the cumulative value of the transfers will count towards the minimum transfer value; and
(c). Select the Investment Boost Reward option in the automated email that will be sent to you by Nutmeg within one (1) day of your first qualifying transfer being initiated.
Note: If you fail to indicate your reward preference pursuant to paragraph 11(c), Nutmeg will endeavour to solicit your reward preference by email on not less than two additional occasions. If Nutmeg is unable to ascertain your reward preference, the Investment Boost Reward will be allocated to your account by default.
Accepting the offer – Avios Reward
12. To accept Nutmeg’s offer, and receive the Avios Reward as set out in Table 1b below, you must do each of the following things during the Promotion Period:
(a). Initiate a transfer of an existing ISA, JISA/Child Trust Fund or pension into a Nutmeg Stocks and Shares ISA, JISA or a Personal Pension Account;
(b). Ensure the transfer(s) you wish to initiate meets the minimum transfer value of £5,000. If you complete multiple transfers, the cumulative value of the transfers will count towards the minimum transfer value;
(c). Select the Avios Reward option in the automated email that will be sent to you by Nutmeg within one (1) day of your first qualifying transfer being initiated and provide Nutmeg with a valid British Airways Executive Club Membership number.
Note: If you fail to indicate your reward preference pursuant to paragraph 12 (a), Nutmeg will endeavour to solicit your reward preference by email on not less than two (2) occasions. If Nutmeg is unable to confirm your reward preference, the Investment Boost Reward will be allocated to your account by default.
Table 1a
- Transferred Value: £5,000 - £9,999 = Investment Boost Reward: £25
- Transferred Value: £10,000 - £24,999 = Investment Boost Reward: £50
- Transferred Value: £25,000 - £29,999 = Investment Boost Reward: £150
- Transferred Value: £30,000 - £49,999 = Investment Boost Reward: £200
- Transferred Value: £50,000 - £99,999 = Investment Boost Reward: £500
- Transferred Value: £100,000 - £149,999 = Investment Boost Reward: £1,000
- Transferred Value: £150,000 - £199,999 = Investment Boost Reward: £1,500
- Transferred Value: £200,000 - £299,999 = Investment Boost Reward: £2,000
- Transferred Value: £300,000+ = Investment Boost Reward: £3,000
Table 1b
- Transferred Value: £5,000 - £9,999 = Avios Reward 2,500
- Transferred Value: £10,000 - £24,999 = Avios Reward 5,000
- Transferred Value: £25,000 - £29,999 = Avios Reward 15,000
- Transferred Value: £30,000 - £49,999 = Avios Reward 20,000
- Transferred Value: £50,000 - £99,999 = Avios Reward 50,000
- Transferred Value: £100,000 - £149,999 = Avios Reward 100,000
- Transferred Value: £150,000 - £199,999 = Avios Reward 150,000
- Transferred Value: £200,000 - £299,999 = Avios Reward 200,000
- Transferred Value: £300,000+ = Avios Reward 300,000
For the avoidance of doubt, rewards are not cumulative in nature and cannot be combined.
When and how the Investment Boost Reward will be paid?
14. The Investment Boost Reward will be paid to your account within six (6) months of your product transfer request being initiated, provided that all transfers initiated during the promotional period have completed or been cancelled. If product transfers require more than six (6) months to be completed, the Investment Boost Reward will be paid to your account within sixty (60) days of completion.
15. In each case:
(a). The Investment Boost Reward will be held in 'un-allocated cash' and you will be notified that you have cash waiting for allocation. You can then choose which fund to allocate this cash to, or submit a request to withdraw the ‘un-allocated cash’.
(b). The “un-allocated cash” is not part of an ISA, JISA or pension tax wrapper. If you wish to add this to your Nutmeg ISA, JISA or Nutmeg Personal Pension, you will need to transfer the cash into the relevant wrapper. This will be treated as a contribution into the tax wrapper and is subject to contribution limits under the relevant tax rules of each tax product. Clients are responsible for all contributions into a tax wrapper and should check that any such contributions do not exceed allowable contribution limits.
When and how the Avios Reward will be paid?
16. The Avios Reward will be awarded to your British Airways Executive Club account within six (6) months of your product transfer being initiated, provided that all transfers initiated during the Promotional Period have completed or have been cancelled. If product transfers require more than six (6) months to be completed, the Avios Reward will be awarded to your British Airways Executive Club within sixty (60) days of completion.
General
17. Nutmeg cannot be held responsible for any issue or delays in transferring your ISA, JISA/Child Trust Fund or pension caused by the ceding provider.
18. In addition to its rights in the Nutmeg Standard T&Cs, Nutmeg reserves the right to change, terminate or withdraw the Promotion:
(a). Immediately, at any time without prior notice to you in cases of:
(i). suspected abuse, fraud or violation of its rules; or
(ii). your failure to comply with any obligations under these Promotional Offer T&Cs; or
(b). immediately, at any time by providing notice on its website (www.nutmeg.com)
Where this Promotion is changed, terminated or withdrawn in accordance with this paragraph 18, these Promotional Offer T&Cs will no longer apply.
19. These Promotional Offer Ts&Cs shall be governed by English law, and the parties submit to the non-exclusive jurisdiction of the courts of England and Wales.
Additional terms applicable to this offer
20. Terms and Conditions applicable to Avios redemptions. Reward flights are subject to availability. Taxes, fees and carrier charges apply. Avios points are issued and redeemed in accordance with British Airways Executive Club Terms and Conditions. For full details see www.britishairways.com/en-gb/executive-club/about-the-club
21. Nutmeg is the sole arbiter of these rules, excluding the redemption of Avios which are subject to British Airways Executive Club Terms and Conditions.
22. Nutmeg charges management and other fees. The details are available here.
Nutmeg Saving and Investment Limited is authorised and regulated by the Financial Conduct Authority, whose address is 12 Endeavour Square, London E20 1JN, www.fca.org.uk. Our firm registration number is 552016. Nutmeg is covered by the Financial Services Compensation Scheme. There is more information about this in our Standard Terms and Conditions.
Chase is a trading name of J.P. Morgan Europe Limited. Nutmeg and J.P. Morgan Europe Limited are J.P. Morgan companies. Products provided by Nutmeg and not guaranteed by Chase. Chase is not the promoter of this Promotion and is in no way responsible for its administration.