Bag £50 cashback if you invest £50 or more with Wealthify – find out if you qualify

Hi,

We’ve got a jam-packed newsletter for you today – not only have we got a £50 cashback offer from online investment service Wealthify, but we also have all you need to know about the cost of living payments coming your way in the not too distant future, your rights when it comes to heatwave havoc, and a special 1-year fixed rate savings deal paying more than the other best buys on our list…

If you’re thinking of investing, check out this deal from Wealthify. As a new customer, if you open a Wealthify Plan via this link* and invest £50 or more in a stocks & shares ISA, junior ISA, general investment account or personal pension, you can get £50 cashback after 12 months. You’ll need to invest your £50 minimum by 31 October 2022 and leave it invested for 12 months to get the cashback.

While you can invest more, if you invest only £50, even if your investments don’t pay off, you will more or less break even after one year. 

Wealthify will choose which fully-managed set of funds to invest in for you, based on your answers to a few questions on the level of risk you’re willing to take.

Remember to factor in the monthly fees that typically come with investing. With Wealthify, there is an annual plaform fee of 0.6% and you’ll also need to pay an investment fee of around 0.16% – both on the total value of your investments. For a £50 investment, this equates to about £0.38. 

What to watch out for:

• If Wealthify ceases trading, you will not get the £50 cashback.
• Your underlying investments could still go up or down in value.
• While we’re sharing this deal with you, it’s not a sign of recommendation. We’re just letting you know that if you choose to invest with Wealthify, you can get cashback.

To nab this deal, you’ll need to open a Wealthify Plan by 11.59pm on 31 July 2022.

Create a plan with Wealthify here*

*When you sign up via this link, we may earn an affiliate commission from this deal.

This unprecedented heatwave has caused disruption across the country. Rail journeys have been impacted, many people have been told to work from home and everyone wants to stay as cool as possible. Here’s a round up of helpful tips to avoid the heatwave burning your bank balance:

Can you get your money back if your train was cancelled because of the heatwave?

Are you eligible for the working from home tax relief, worth up to £140, if you worked from home because of the heat?

If we see these kinds of temperatures again, do you have to go to work? Your employment rights explained.

The first cost of living payments are hitting the bank accounts of more than eight million eligible households – but with more payments promised, when will you get yours?

£650 payment for low income households: Good news, the first instalment of the £650 payment will have been hitting bank accounts for the last few days. Find out when you’ll get it if you haven’t already. 

£400 energy rebate: Almost everyone is eligible for this help – find out how and when you will get it.

£150 disability cost of living payment: This is due to anyone claiming certain disability benefits. Find out if you qualify. 

£300 cost of living payment for pensioners: If you get the Winter Fuel Allowance, you’ll qualify for this additional payment. Find out when you can expect it.

Check out The Money Edit’s payment breakdown

Savings rates are rising which is a sliver of good news amid the cost of living crisis, and we’ve got one provider to give you access to a special deal.

With this link to the 2.75% 1-year fixed-rate from Gatehouse Bank* that you need to access via savings marketplace Raisin, which houses the deal, you can get that rate if you’ve at least £1,000 to save. New Raisin customers can also claim £25 cashback.

This comes with the usual £85,000 per person Financial Services Compensation Scheme protection and it compares favourably to the next top one-year fixed rate of 2.72%. This rate is locked in so it won’t change for a year but you can’t access your cash in that time. In return, like with all good fixes, it’s much higher than the top easy access rates on savings accounts.

Note: Gatehouse is a Sharia-compliant bank, meaning it uses the Sharia banking principles. Your money won’t be invested in gambling, alcohol, tobacco or arms, for example. But it also means savings will grow through Sharia-compliant profits, not through interest. So, the advertised rate is an expected rate. If in the unlikely event Gatehouse is unable to deliver that rate after you have opened your account, Raisin will contact you to advise you of the new expected rate, at which point you can continue saving or close the account.

To get the cashback, once you have deposited your £1,000, email [email protected] within six months with your full name, from the email you registered with, and with ‘Raisin UK Partner Bonus’ as the subject line.

For more information on Raisin or if you want a different account, see The Money Edit’s top savings account article.

*When you apply via this link, we may earn an affiliate commission from this deal.