trium
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Post by trium on Oct 7, 2019 16:55:14 GMT
I don't think AC are likely to be running another similar promotion in the immediate future
I'm fairly sure that they simply monitor my account, wait for me to make a significant deposit and launch "yet another offer" immediately afterwards. As I've recently topped up, another promotion is imminent.
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ceejay
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Post by ceejay on Oct 8, 2019 8:35:55 GMT
I don't think AC are likely to be running another similar promotion in the immediate future
I'm fairly sure that they simply monitor my account, wait for me to make a significant deposit and launch "yet another offer" immediately afterwards. As I've recently topped up, another promotion is imminent. I'm sure you're right. However, another indicator of the next offer is that it will close a short time BEFORE the qualification date for the current one (early April IIRC), so you need to have two accounts at your disposal and a float of cash that you don't mind "lending" them for a few weeks.
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Post by gravitykillz on Oct 8, 2019 9:40:19 GMT
Seems like a crazy pyramid scheme to get more new cash to pay off the previous bonuses.
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bg
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Post by bg on Oct 8, 2019 10:52:11 GMT
I think deposits in the AC automated accounts are much more 'sticky' than the more active minority may think. Most people are likely just to invest and leave.
For example, the 1% cashback bonus qualification period ended at midnight on Saturday. Since then only around £2m has left the site which is a drop in the ocean all things considered.
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lobster
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Post by lobster on Oct 10, 2019 8:43:40 GMT
I think deposits in the AC automated accounts are much more 'sticky' than the more active minority may think. Most people are likely just to invest and leave. For example, the 1% cashback bonus qualification period ended at midnight on Saturday. Since then only around £2m has left the site which is a drop in the ocean all things considered. Yes, and in addition to this, once the 1% cashback is paid to lenders (due today, 10th Oct) , plenty of that 1% will be invested straight back into the access accounts.
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sl75
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Post by sl75 on Oct 10, 2019 9:28:12 GMT
I think deposits in the AC automated accounts are much more 'sticky' than the more active minority may think. Most people are likely just to invest and leave. For example, the 1% cashback bonus qualification period ended at midnight on Saturday. Since then only around £2m has left the site which is a drop in the ocean all things considered. Yes, and in addition to this, once the 1% cashback is paid to lenders (due today, 10th Oct) , plenty of that 1% will be invested straight back into the access accounts. 1% of the additional amount lent from 6 April to 31 May would be around 1% of the £25M rise in the access accounts (rise from about £176M to £201M by my records), plus 1% of any additional investment in other accounts, so in the general region of £0.3M as a first-order estimate, and almost certainly no more than £0.5M.
The £2M mentioned is already just a drop in the ocean, so the cashback would be even less noticeable; pretty much indistinguishable from other sources of fluctuations.
There may be some further withdrawals triggered by lenders noticing the cashback payment - some lenders preferring to wait until they actually see the cashback until they consider the promotion "finished", but I don't anticipate these will be particularly large when considered in terms of AC's entire loan book.
Right now, with over £208M in the access accounts, and less than 88% of this invested in loans (implying about £25M of non-invested cash held in those accounts) I'd say AC can easily accommodate quite significant withdrawals. Indeed, they may actively prefer that in the immediate-term (as long as money will come back later when they may need it for new loans in the pipeline in the medium-term), as it would reduce the cash drag within the access accounts, allowing a larger surplus to accumulate in their provision funds, which AC will eventually draw as profit.
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Post by michal78 on Oct 10, 2019 21:00:31 GMT
Does anyone know whether £75 "refer a friend" and £150 "new investor cashback offer" can be combined? If that's the case I want to ask anyone to refer me so we could both get a referral bonus.
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r00lish67
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Post by r00lish67 on Oct 10, 2019 21:42:49 GMT
Does anyone know whether £75 "refer a friend" and £150 "new investor cashback offer" can be combined? If that's the case I want to ask anyone to refer me so we could both get a referral bonus. I had a quick look at the T's and C's ( 1/ 2) and although I can't see anything that excludes that possibility, I would suggest dropping them a quick note (enquiries@assetzcapital.co.uk) to find out for sure. Happy to refer you if it works out.
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Post by michal78 on Oct 10, 2019 22:02:12 GMT
I've just emailed them and got an automatic reply - it may take up to 5 working days to get back to me. I think I'll give them a ring tomorrow.
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jontyab
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Post by jontyab on Oct 10, 2019 23:16:29 GMT
Does anyone know whether £75 "refer a friend" and £150 "new investor cashback offer" can be combined? If that's the case I want to ask anyone to refer me so we could both get a referral bonus. I had a quick look at the T's and C's ( 1/ 2) and although I can't see anything that excludes that possibility, I would suggest dropping them a quick note (enquiries@assetzcapital.co.uk) to find out for sure. Happy to refer you if it works out. Unfortunately not according to www.assetzcapital.co.uk/refer-a-friend/terms-and-conditions/ under 'Referred Investor' clause 3.d:"This bonus is not available in conjunction with any other offer for new customers"You could try and risk it anyway, but otherwise if you're willing to invest the £5,000 necessary to qualify for the £150 offer it's probably the way to go. You'd only get £50 for joining through a referral - although it only requires £1000 invested, making it a proportionally larger percentage paid as cashback (3% vs 5%).Edit: AC support say it's fine to combine them, see below.
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Post by michal78 on Oct 11, 2019 8:57:08 GMT
Does anyone know whether £75 "refer a friend" and £150 "new investor cashback offer" can be combined? If that's the case I want to ask anyone to refer me so we could both get a referral bonus. I had a quick look at the T's and C's ( 1/ 2) and although I can't see anything that excludes that possibility, I would suggest dropping them a quick note (enquiries@assetzcapital.co.uk) to find out for sure. Happy to refer you if it works out. I've got a reply that "Both of these promotions can be combined. You can benefit from both the Refer a friend bonus as well as the £150 cash back." Can you refer me, please?
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r00lish67
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Post by r00lish67 on Oct 11, 2019 9:55:18 GMT
I had a quick look at the T's and C's ( 1/ 2) and although I can't see anything that excludes that possibility, I would suggest dropping them a quick note (enquiries@assetzcapital.co.uk) to find out for sure. Happy to refer you if it works out. I've got a reply that "Both of these promotions can be combined. You can benefit from both the Refer a friend bonus as well as the £150 cash back." Can you refer me, please? Looks like you've already found my PM - glad to hear that worked out!
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DeafEater
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Post by DeafEater on Oct 11, 2019 11:35:21 GMT
Does the panel think that because the bonus paid yesterday was tagged as 'Cashback', it doesn't count as bonus interest and hence is not taxable? The vast majority of my bonus cash was due to an IFISA investment during the qualifying period but because the bonus was paid directly into my standard cash account without even a cursory trip through my IFISA account, it would seem distinctly unfair if it was considered to be taxable.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Oct 11, 2019 11:56:37 GMT
Does the panel think that because the bonus paid yesterday was tagged as 'Cashback', it doesn't count as bonus interest and hence is not taxable? The vast majority of my bonus cash was due to an IFISA investment during the qualifying period but because the bonus was paid directly into my standard cash account without even a cursory trip through my IFISA account, it would seem distinctly unfair if it was considered to be taxable. General understanding is that as it is an incentive from the platform it isnt taxable. ISA rules prevent such incentives being credited to ISA accounts as they are not a valid source of ISA income.
As ever if in doubt seek proper advice.
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DeafEater
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Post by DeafEater on Oct 11, 2019 12:26:08 GMT
I thank you ilmoro. I was pretty much assuming the 'cashback' tag would make it tax free but just wanted to make sure other people were similarly inclined. |
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