Pound to £5k

EDITION 130

Wishing a Happy Father’s Day to all the dads receiving this email!

I hope that everyone has been enjoying the coverage of the World Cup recently!

Not caught up on my previous emails? You might have missed a golden opportunity from the last few weeks - tap the link below to view them!

NEW: Barclays Switch - £600 Experience

Alongside the launch of their £200 bank switch offer last week, Barclays have also re-launched their Barclays Premier offer (their account for high earners or those with high savings)

This new offer gives you an Experience where you can choose between:

• Dining at the UK’s finest restaurants

• Overnight stay at selected hotels across the UK

• Premium access to live events across the UK

• Premium family days out for a year

To get this you need to:

1. Earn £75,000+ or;

2. Have £100,000+ in savings or investments with Barclays

3. Be a new Barclays current account customer

That allows you to open the account, to get the bonus you need to:

1. Download the Barclays app

2. Open a sole Premier account

3. Complete a bank switch from another bank incl. 2+ direct debits

4. Pay £4,000+ into your account within 30 days

NOTE: You are not eligible if you have ever received a switching bonus from Barclays for opening any current account

NEW: HSBC Bank Switch Offer (£220)

HSBC also have a high earner offer paying £500 but have just launched an offer for everyone else that pays £220, here’s how to know if you’re eligible:

1. You must be a new HSBC customer

2. You cannot have held an HSBC or FirstDirect current account since 1 January 2023

Here’s how to get the £220:

1. Download the HSBC app

2. Apply for a sole “HSBC Bank Account”

3. Complete a bank switch with 2+ direct debits within 60 days

4. Deposit £2,000+ within 60 days

5. Spend £500+ on your debit card within 60 days

6. You’ll receive £220 within 60 days of meeting the above criteria

£100 in Free Shares from Etoro

This is a MoneySavingExpert offer that cannot be beaten, which is why I am sharing it in this week’s email; the platform isn’t the best but if you follow the steps £100 in free shares might be worth the effort!

• You must be a new Etoro customer

• You must open an account via MoneySavingExpert

• You must invest £200+ through their platform

• You must hold your £200+ & your free share for 90 days

• You should then be able to withdraw the cash

I have not completed this offer as I already have an Etoro account from a similar offer years ago, but I have included the link to MSE’s details below

Capital is at risk with investing, your investments may fall in value

Let’s talk about SpaceX

In the above offer (Etoro) you will be given the chance to receive SpaceX shares and if I was doing this offer I would not opt for those, especially as you will have to hold them for 90 days

This is not investment advice and is fully my own opinion but here’s what you should know…

SpaceX completed a merger of lots of Elon Musk’s separate businesses including the space business, Starlink satellites and his AI business a short while ago

The current valuation of SpaceX based on share movement since it was offered on the stock market (its IPO) is $2.4 trillion

For context, this makes it the 6th most valuable company in the world right now, only $0.1 trillion behind Amazon

Yet SpaceX is not profitable and the high-level valuation and rush to invest in the stock has been driven by hype and the excitement that due to its high valuation it will have to be included in index funds automatically

Many analyists believe that SpaceX is wildly overvalued and is expecting the valuation to tumble

SpaceX is expected to be added to these index funds as follows:

• Nasdaq 100 - Early July

• iShares Russell 1000 - already added

• FTSE All World Funds - 26 June

• MSCI All World Funds - 29 June

• S&P 500 - Not until June 2027 at the earliest

Why does this matter?

If you are currently invested in any of the above, at the expected dates included above you will automatically hold SpaceX shares which is fine until you realise that investors from before the stock went public and early employees who own shares cannot sell theirs until September 2026

This might mean that share values will rise over the short-term whilst demand likely outstrips supply of the shares, but as soon as these individuals are able to sell the market could become flooded and share prices may collapse (particularly as for early employees this could be enough for them to retire)

What have I done?

I previously held most of my money in an All World Fund but do not want any exposure to SpaceX so have sold this position in my ISA and reallocated the proceeds to 60% S&P500 and 40% to an All World Fund (excl. US stocks)

I have done this because it gives me ~1 year before SpaceX is added to the S&P500 so any additional US growth will filter through without impact from SpaceX and this allocation is not too far adrift from where my cash was exposed to previously

Zopa £20 Bonus & 4% Cashback on Bills

I don’t know how long this offer will last but it’s a good one!

I was banging on about Zopa’s current account a number of months ago and for good reason, I transferred a number of my direct debits across to it and started using their savings account as it beat what I was using before

Here’s the set-up:

• Free account

• 4% cashback on direct debits (capped on £2k spend per year)

• 2% interest on current account balances

• 7.1% interest on regular saver (£300 /month savings allowed)

• FSCS protected and FCA regulated

What sweetens the deal:

1. Message/ email me the word “Zopa”

2. I’ll send you my referral link

3. Open an account through it

4. Set up or transfer 1 direct debit to the account

5. We’ll both get £20

Opening a Zopa current account should not result in a hard credit check as you will not be applying for a credit product

Klarna - FREE £25

It is no secret that I do not love Klarna, their overall tactics and position in the Buy Now Pay Later market is something that doesn’t sit right with me

However, they have launched a new debit card referral scheme which is worth looking at in isolation

This works for existing customers who do not have a debit card with them

How to get £25

1. Message me “KLARNA” on Instagram for a referral link

2. Enter your email address at the link I send you

3. Create an account and sign up for the Klarna Card

4. Add this card to a digital wallet (Apple Pay, Google Pay, etc.)

5. Spend £5+ 3 times with the card

   • Top-ups no longer work and this must be made up of legitimate spending (I suggest splitting your grocery shop into 3 transactions at the self-checkout)

6. You will receive £10 into your “cashback” pot

7. Redeem this into your card

8. Message me when you’ve done this and I will pay you £15 on top

9. You can then spend the £10 on the card or top up Revolut, etc and close the account should you wish

10. You should also be able to refer your family and friends to complete the same, earning £40 per referral (capped at 10)

According to Klarna’s own terms and conditions, there will be no impact on your credit score when applying for the Klarna Card which is a debit card product

Please note that my decision is final and the £15 bonus will only be paid once the owner of the referral link receives their referral bonus and anyone who appears to be attempting to ruin the good nature of this offer will not be paid, £15 cashback will be paid by bank transfer

FREE Cookies for Sky Customers

Sky have been releasing weekly gifts for their Sky VIP customers (simply download the MySky app and you’ll get access)

This week you can get a FREE Bag of Taste the Difference cookies (normally £2) - this does not work at small high street stores

You only get 60 minutes to scan the barcode from activating it so don’t activate too early and assume you’ll need help from a colleague as they can be temperamental to scan yourselves! I would recommend heading to a self-scan till rather than a scan as you shop till as the barcode readers are more receptive of the moving barcodes!

Not a Sky customer? If you’re thinking about joining Sky, you can get a bonus if you sign up through a referral link. Message me for mine!

Robinhood - Free Share worth up to $175

Robinhood is a commission-free investing app used by millions in the US and new UK customers who open an account through my link can get a free share worth between $7 and $175 for depositing just £1

Trading 212 - Free Share worth up to £100

Trading 212 is one of Europe’s largest commission-free investing apps that I have been using since 2020 and is my main investing app used for my 5-figure portfolio

New customers who open an investing account or ISA through my link can get a free share worth up to £100 when you deposit £1+

AD - The Bank Engine is an affiliate partner of Trading 212 and will receive a commission if you open an account through my link - Capital is at risk

LATEST BLOG POSTS