New 30 day access account

If I could bring myself to do it, it's almost worth betting on us leaving by then as a currency hedge given that it would likely involve the PM breaking the law and No-Deal (even if a Deal is miraculously agreed, I can't see it being signed off by then).

Never would there be a bet I'd hope to lose more. 

Everybody wants to rule the world though. They want some money for nothing, movies, refrigerator, MTV. FS see me rollin' (over my loans) but  I'd invest in FS30 too. but only if there's no-no no-n-no-no no-n-no no limit.

edit: Shaft.

It will be interesting how FS apportion interest at 5% to such a small amount. There will have to be considerable rounding up/down if sufficient people subscribe for small amounts of this new financial instrument offered by FS. 

If the loan is made for 6p, that equates to 0.3p per annum interest or 0.15p per 6 months at the stated 5% interest. 

Even if a whole £1 is invested, that equates to 5p per annum, or 2.5p per 6 months.

Who will benefit from all the rounding up/down?

Seems that over multiple subscribers to the FS30 product, there will be a certain amount of accumulated funds that will not be able to be utilised by lenders as they can not be withdrawn due to the re-payments in fractions.

Is FS moving  in to  the territory of micro finance now?

What a star df , providing the researched example that a comparable account offers 5.3%

From FS email just received:

In all honesty my experience of FS is so poor I wouldn't consider lending money on Gold Ingots which were valued at less than 5% of the present price of gold on the world market.

If I was a director of FS I would seriously consider establishing a provision fund for new loans for people investing in FS30 as this would be reassuring to investors.  Then again if FS are overwhelmed by investors deposits this may not be necessary.

I think fundingsecure may need to consider a bit more finessing to make the account competitive with GS. Auto reinvesting of interest option would be a given, or returns less than the minimum withdrawal limit would just be sat in limbo (Obviously there are ways round that, but just involve work and cost all round). Also the current set up only allows transfer in of £1 plus (the account minimum) regardless of current account balance, that seems short sighted given people may wish to move small interest returns from the  main account.

Obviously this may involve a more flexible maximum offering.

Nope, you are not alone. Why anybody would invest here now is beyond me. Yet another update this morning where the receivers are going in and where the LTV is likely to be tested, and fail.