djpix99
Member of DD Central
Posts: 115 
Likes: 62
|
Post by djpix99 on Sept 7, 2017 6:46:58 GMT
Just spotted this deal and thought I would spread the word as it's a decent FSCS protected return.
Octopus Cash allow you to save £1000 plus with them and the money is deposited in a 1year fixed account with one of 3(or a mixture) small building societies/banks.
They advertise rates of upwards of 1.19% currently, my deposit was placed with Oak North Bank at a rate of 1.51%(just below the 1.7% they offer by going direct)
However if you go via Topcashback at the moment they are offering £50.50 cashback.
|
|
r00lish67
Member of DD Central
Posts: 2,691
Likes: 4,048
|
Post by r00lish67 on Sept 7, 2017 8:35:01 GMT
Just spotted this deal and thought I would spread the word as it's a decent FCA protected return. Octopus Cash allow you to save £1000 plus with them and the money is deposited in a 1year fixed account with one of 3(or a mixture) small building societies/banks. They advertise rates of upwards of 1.19% currently, my deposit was placed with Oak North Bank at a rate of 1.51%(just below the 1.7% they offer by going direct) However if you go via Topcashback at the moment they are offering £50.50 cashback. Good spot, worth a mention. I did this one too, seems ok, worth it for the cashback. I don't really get the product without it though, it seems like their whole product can be replaced by an MSE best buy table, and then you can take their cut yourself. But I guess it's generally not aimed at readers of this forum.
|
|
djpix99
Member of DD Central
Posts: 115
Likes: 62
|
Post by djpix99 on Sept 7, 2017 12:26:26 GMT
I've now had 2 emails saying my funds have been recived and will be deposited with OakNorth Bank next Wednesday, however the first says 1.51% interest and 2nd 1.61%. I wonder if they have decided to raise it.
|
|
|
|
Post by oldnick on Sept 7, 2017 12:48:37 GMT
Just spotted this deal and thought I would spread the word as it's a decent FCA protected return. Octopus Cash allow you to save £1000 plus with them and the money is deposited in a 1year fixed account with one of 3(or a mixture) small building societies/banks. They advertise rates of upwards of 1.19% currently, my deposit was placed with Oak North Bank at a rate of 1.51%(just below the 1.7% they offer by going direct) However if you go via Topcashback at the moment they are offering £50.50 cashback. I expect it was a slip of the keyboard, but in what sense do you believe that the FCA are providing protection? Wouldn't it be more accurate to refer to FCA regulation? I don't believe regulation should have equivalence with protection.
|
|
|
|
Post by dan1 on Sept 7, 2017 13:34:53 GMT
Just spotted this deal and thought I would spread the word as it's a decent FCA protected return. Octopus Cash allow you to save £1000 plus with them and the money is deposited in a 1year fixed account with one of 3(or a mixture) small building societies/banks. They advertise rates of upwards of 1.19% currently, my deposit was placed with Oak North Bank at a rate of 1.51%(just below the 1.7% they offer by going direct) However if you go via Topcashback at the moment they are offering £50.50 cashback. I expect it was a slip of the keyboard, but in what sense do you believe that the FCA are providing protection? Wouldn't it be more accurate to refer to FCA regulation? I don't believe regulation should have equivalence with protection. I know very little about this but the website states: We’ll spread your money across our partner banks to give you a better rate, while making sure your cash is protected by the FSCS.
The OP should perhaps of stated FSCS protected.
|
|
|
|
Post by oldnick on Sept 7, 2017 13:48:05 GMT
I expect it was a slip of the keyboard, but in what sense do you believe that the FCA are providing protection? Wouldn't it be more accurate to refer to FCA regulation? I don't believe regulation should have equivalence with protection. I know very little about this but the website states: We’ll spread your money across our partner banks to give you a better rate, while making sure your cash is protected by the FSCS.
The OP should perhaps of stated FSCS protected. That makes sense - thanks 
|
|
|
|
Post by dan1 on Sept 7, 2017 13:50:31 GMT
I know very little about this but the website states: We’ll spread your money across our partner banks to give you a better rate, while making sure your cash is protected by the FSCS.
The OP should perhaps of stated FSCS protected. That makes sense - thanks The more I think about the more I like it, a 6.5% ish return with FSCS protection - back to the good old days of 2007! Thanks for bringing this to our attention djpix99
|
|
djpix99
Member of DD Central
Posts: 115
Likes: 62
|
Post by djpix99 on Sept 7, 2017 13:53:39 GMT
Apologies my mistake, was supposed to say FSCS as pointed out, I will update my original post.
|
|
|
|
Post by keyboardworrier on Sept 7, 2017 13:56:39 GMT
I signed up for this yesterday, it's a great deal. I did have some eligibility concerns because I am already registered with Octopus Choice , but the cashback tracked...I just hope it pays out !
|
|
littonowl
Member of DD Central
Posts: 398
Likes: 355
|
Post by littonowl on Sept 7, 2017 14:09:05 GMT
Edit. keyboardworrier answered my own question re octopus Choice. Anyone know how the cash payment is made and by whom? Is it paid into Topcashback and then you have to withdraw from them? TIA |
|
|
|
Post by keyboardworrier on Sept 7, 2017 14:14:39 GMT
Edit. keyboardworrier answered my own question re octopus Choice. Anyone know how the cash payment is made and by whom? Is it paid into Topcashback and then you have to withdraw from them? TIA I should have said that I had to use a different email address than the one I used to register with Octopus Choice as it was recognised. If the cashback pays out it will go into your Topcashback account then you can withdraw it to paypal or your bank account
|
|
littonowl
Member of DD Central
Posts: 398
Likes: 355
|
Post by littonowl on Sept 7, 2017 14:20:17 GMT
Edit. keyboardworrier answered my own question re octopus Choice. Anyone know how the cash payment is made and by whom? Is it paid into Topcashback and then you have to withdraw from them? TIA I should have said that I had to use a different email address than the one I used to register with Octopus Choice as it was recognised. If the cashback pays out it will go into your Topcashback account then you can withdraw it to paypal or your bank account Ah, right, thanks for the that, had just tried their site and they recognised my email too!
|
|
badersleg
Member of DD Central
Posts: 179
Likes: 77
|
Post by badersleg on Sept 7, 2017 16:08:02 GMT
You can withdraw the cashback as a gift voucher and get a bonus % added for certain retailers. It's currently 15% for Debenhams, but most are around 5%.
Tim
|
|
IFISAcava
Member of DD Central
Posts: 3,664
Likes: 2,988
|
Post by IFISAcava on Sept 7, 2017 21:05:34 GMT
That makes sense - thanks The more I think about the more I like it, a 6.5% ish return with FSCS protection - back to the good old days of 2007! Thanks for bringing this to our attention djpix99 it's better than that for taxpayers because cashback is (as I understand it) tax free.
|
|
|
|
Post by nesako on Sept 7, 2017 21:13:20 GMT
Just done it... cash-back still has not tracked, may possibly happen once my funds have been processed, but if all goes well, it is a great hands-off, no risk way to get 6.5% return...
|
|
