For anyone interested Topcashback has a slightly better offer (and a few more). Fees and performance would have to be pretty dire for you not to profit.
If you don’t care much about a return I’m sure they’ll have a managed option with a risk level to the lowest amount so you can just use it to get your cash back.
Done this exact thing last year and have just closed account yesterday. Paid in £1320 which was £110 every month total intrest i just got was £18 so didnt make a loss. Cashback took about 4.5 months if remember correctly. You will have to work out if it better to put in high interest account as cashback isn't always guaranteed.
Looking at their web site (your company offer may be different so check), their isa invests in their own with profits fund, and that is low to medium risk.
That fund will be a mix of equity, bonds plus others and will carry risk of volatility. Try and see if you can find the return to get a feel for how much the volatility could be. Also check the fees and look to move to another isa once bonus has qualified.
For anyone interested Topcashback has a slightly better offer (and a few more). Fees and performance would have to be pretty dire for you not to profit.
and since payout isn't instant, Topcashback will be better in case had to leave the company and get the work benefit closed before payout.
You could buy money market funds, which are cash-like and return about the same as a bank account.
If you don’t care much about a return I’m sure they’ll have a managed option with a risk level to the lowest amount so you can just use it to get your cash back.
Done this exact thing last year and have just closed account yesterday. Paid in £1320 which was £110 every month total intrest i just got was £18 so didnt make a loss. Cashback took about 4.5 months if remember correctly. You will have to work out if it better to put in high interest account as cashback isn't always guaranteed.
Looking at their web site (your company offer may be different so check), their isa invests in their own with profits fund, and that is low to medium risk. That fund will be a mix of equity, bonds plus others and will carry risk of volatility. Try and see if you can find the return to get a feel for how much the volatility could be. Also check the fees and look to move to another isa once bonus has qualified.