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What can I do with the loyalty bonus?

This will depend on the type of loyalty bonus you receive.

There are two options for loyalty bonus earned on funds bought before 1 April 2014;

  • Hold as cash

Your loyalty bonus will be retained in your income account. You can transfer it to your capital account at any time in the future. Holding cash on your account may also help to cover any fees that are owed on your account.

  • Transfer to capital account

Transferring your loyalty bonus to your capital account will make it available to invest or withdraw. Please note this will not happen automatically each month, you will need to provide a new instruction each time you want to transfer.

There are three options for loyalty bonus earned on funds bought after 1 April 2014;

  • Automatically reinvested (largest holding)

Your loyalty bonus will be automatically reinvested into your largest holding when it reaches a minimum of £10.00. The automatic reinvestments take place monthly.

  • Automatically reinvested (your choice)

You can choose a fund from your current holdings where your loyalty bonus will be automatically reinvested into each month, when it reaches a minimum of £10.00.

  • Reinvest when you choose

Your loyalty bonus will be held in your income account as cash pending a reinvestment instruction from you. Under the rules of our regulator, the Financial Conduct Authority (FCA), loyalty bonus payments must be reinvested back into a fund. We are unable to pay this money out to your bank account or use it to pay fees. When your loyalty bonus has reached a minimum of £10.00 (or more) you will then, at a time of your choosing, be able to invest the balance in any of the funds (unit trusts/OEICs) you hold at that time. The minimum investment is £10.00 per fund.

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