But very few investors will have the kind of money required to access this top rate.
Here, we comb through the terms and conditions and compare the fees to other providers to see whether this offer is worth it.
Please note: this article is for information purposes only and does not constitute financial or investment advice.How can you access the offer?
The offer runs from 1 October to 30 November 2026 and is available to account holders aged 18 or over with at least 1p in their account. The invitation to take part was sent out to eligible customers who are opted into marketing communications.
To participate, you can’t just transfer the amount across. You’ll need to register for the offer using the online form on the invite, calling the helpline or using the secure messaging service.
If you take money out of your Hargreaves Lansdown accounts between now and 30 September 2027, the offer will be calculated based on what’s left in your account. For example, if you transferred in £25,000 between now and 30 November but took out £18,000 in March 2027, you wouldn’t be eligible for cashback because you wouldn't have met the £10,000 minimum.
Any increases in the value of your account that come from your investments won’t be counted towards the contribution amount.
How much do you need to get the maximum?
To access this maximum amount, you’d need to put £1m into each of the four accounts. If you put £2m into one account, £750,000 into two, and £500,000 into your final account, you'd get £25,000 cashback instead.
But few investors will have £4m to spread across their accounts, making the headline cashback figure unrealistic for most. It's therefore worth focusing on how much you could actually receive, rather than being swayed by the maximum payout.
How much you’d get back depends on what you put into each account, not what you had in the account to start with.
Find out more:Could higher fees wipe out your cashback?
If you have money spread across different accounts and are considering moving some or all of it to Hargreaves Lansdown to use the offer, it’s worth considering other fees.
A one-off payment may seem attractive, but higher ongoing charges can quickly outweigh it.
These are just two of many possible scenarios. There's no universally cheapest platform; it depends on what you're invested in and how much is in your portfolio.
Find out more:Do other platforms offer cashback?
Hargreaves Lansdown isn’t the only platform to offer cashback; several others offer incentives to transfer your money to them.
Other benefits, like free trades when you sign up for investment accounts, are also available.
But costs and cashback aren't the only factors to consider. Platforms vary in ease of use, the number and types of investments available, and the information they provide to help you decide.
Investing is about thinking long term, and the same should apply to your platform choice.
source https://www.which.co.uk/news/article/hargreaves-lansdown-launches-biggest-ever-cashback-offer-is-it-worth-it-aOwyP9R8nrbO