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Post by zaigalazdina on Dec 22, 2016 13:14:54 GMT
We are very excited to announce multi-currency investment opportunities on the Mintos marketplace. Starting today, investors will have the opportunity to invest in loans denominated in Czech koruna. Loans in other currencies will be available soon. By facilitating investments in multiple currencies, we are helping investors and loan originators to eliminate one of the most significant financial risks – currency risk.
Our goal at Mintos is to facilitate the free movement of capital globally, which enables integrated, open and efficient financial markets and services that work for the benefit of both investors and borrowers. Introducing multi-currency investment opportunities is a significant step towards our goal, and will allow us to better serve Mintos investors and loan originators. Investors now can diversify their investment portfolio on the Mintos marketplace not only by loan type, loan originator and geography, but also by currency.
The first loan originators offering investment opportunities in currency other than euro are Creamfinance and Acema; they will place loans in Czech koruna on the marketplace.
How does it work?
To deposit funds in a supported currency, go to the Deposit section and follow the listed instructions. After receiving the money transfer, Mintos will credit your account accordingly. All currency deposits can be managed concurrently from your profile.
You will be able to:
Filter loan lists by currency; Create Auto Invest portfolios in multiple currencies; Review account statements in each currency; View account summaries in each currency.
Choosing and investing in multiple currencies couldn’t be easier with Mintos. If you have any questions, our friendly investor service team is happy to help.
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Post by estrelitas on Jan 21, 2017 7:46:45 GMT
Dear Sir/Madam,
I opened an account with Mintos in EUR and I have been extremely happy with the service and the interests offered. However now it seems very difficult to find EUR denominated investments due to this latest change (multi-currency).
As I understand it, Currency-risk increased to all people because now we have the possibility to invest in 5 different currencies instead of just one. This means, for example, if I decide to invest in Personal loans in Georgia (GEL) and in Denmark (DKK) I cannot base my decision on the interest rates because the Exchange rate EUR/DKK and EUR/GEL move everyday; This in turn creates currency-risks. (if I am wrong please be so kind to explain so I can go back investing in Mintos).
I also would like to take the opportunity to voice my dissatisfaction over the Auto-invest with multi-currency. As it turns out in order to invest, for example, in personal loans from Georgia, in GEL, I need to create a new Auto-invest portfolio in GEL. To create a new one I need to know the Exchange-rate to calculate the portfolio size and the maximum investment per loan. This process needs to be done for every currency I would like to invest in.
For these reasons I would like to propose three improvements for Auto-invest: 1. To be able to choose all the currencies I accept investing in, just like we can for loan originators. 2. If point 1 is not possible, to have an exchange-rate section to easily have access to this information. 3. To have the information of the minimum amount to invest per loan in the respective currency. For example "EUR = minimum 10; GEL= minimum 25, ...."
Thank you for your time. Kind regards
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p40l0m4r
Member of DD Central
Posts: 63
Likes: 16
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Post by p40l0m4r on Jan 21, 2017 11:29:54 GMT
An exchange rate section will be really appreciated, i can image that it could be not so fast to implement, but it could be very useful.
Another helping information for us, in the "my investment list", would be a column for remember the exchange rate at the moment of the investment in the loan, better with the other currency of the rate selectionable on the filters. The reason is always to have the useful informations to calculate the effective return of the loan in the currency of the investor.
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Post by extremis on Jan 21, 2017 18:17:34 GMT
Is it possible to invest in loans denominated in a currency other than EUR if the balance in that currency is zero? In other words do i have to make a deposit in another currency in order to be able to invest in loans denominated in that currency?
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0risk
Member of DD Central
Posts: 217
Likes: 202
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Post by 0risk on Jan 21, 2017 21:33:31 GMT
Is it possible to invest in loans denominated in a currency other than EUR if the balance in that currency is zero? In other words do i have to make a deposit in another currency in order to be able to invest in loans denominated in that currency? Yes, you've got to have a balance in the currency of the loan. Mintos is preparing a currency exchange service.
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Post by extremis on Jan 22, 2017 10:31:07 GMT
Mintos is preparing a currency exchange service. That would be great!
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0risk
Member of DD Central
Posts: 217
Likes: 202
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Post by 0risk on Feb 2, 2017 13:19:35 GMT
Mintos is preparing a currency exchange service. That would be great! I just received the email about the launch of the exchange service. And no fees during this beta test period.
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Post by rahafoorum on Feb 2, 2017 16:53:31 GMT
I just received the email about the launch of the exchange service. And no fees during this beta test period. Definitely an improvement from the usability point of view. Not sure if I personally am willing to take the additional currency risk, but I most definitely wouldn't have done it simply from the usability perspective with the previous process of having to withdraw, exchange and deposit. This cuts out a lot of unnecessary steps.
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