jane
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Post by jane on Nov 29, 2019 18:10:10 GMT
My goto for FSCS is Virgin Money and the free coffee when I’m in Edinburgh is a bonus. Virgin are slashing their interest rates in December.
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jane
Posts: 145
Likes: 214
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Post by jane on Nov 29, 2019 18:18:43 GMT
Something to be aware of with Ratesetter is they have declared that there is a significant and material risk of them becoming unable to operate as a going concern. So getting your money out might not be as quick if the worse were to happen and they go into administration.
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Post by erniec on Nov 29, 2019 19:00:59 GMT
My goto for FSCS is Virgin Money and the free coffee when I’m in Edinburgh is a bonus. Virgin are slashing their interest rates in December. Which has no consequence for me, my products (issues) are locked in at 1.5%.
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r00lish67
Member of DD Central
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Post by r00lish67 on Nov 29, 2019 23:03:03 GMT
Something to be aware of with Ratesetter is they have declared that there is a significant and material risk of them becoming unable to operate as a going concern. So getting your money out might not be as quick if the worse were to happen and they go into administration. Say whu' ? Where did they declare that? I've read the going concern statement within their latest accounts, but I didn't notice any explicit reference to "significant and material risk" in that respect.
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jane
Posts: 145
Likes: 214
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Post by jane on Nov 30, 2019 11:37:13 GMT
Something to be aware of with Ratesetter is they have declared that there is a significant and material risk of them becoming unable to operate as a going concern. So getting your money out might not be as quick if the worse were to happen and they go into administration. Say whu' ? Where did they declare that? I've read the going concern statement within their latest accounts, but I didn't notice any explicit reference to "significant and material risk" in that respect. Says A.R.Lewis CEO of Ratesetter 25 Sept 2019 in the latest accounts / annual report. "... recognise that a material uncertainty exists that casts significant doubt ....."
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r00lish67
Member of DD Central
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Post by r00lish67 on Nov 30, 2019 12:01:27 GMT
Say whu' ? Where did they declare that? I've read the going concern statement within their latest accounts, but I didn't notice any explicit reference to "significant and material risk" in that respect. Says A.R.Lewis CEO of Ratesetter 25 Sept 2019 in the latest accounts / annual report. "... recognise that a material uncertainty exists that casts significant doubt ....." Ah got it (for anyone else hunting, first sentence p7 here ) The actual wording isn't perhaps quite as strong as you summarised initially, a material uncertainty rather than significant and material risk. However, I do agree, that it's worth noting. If I can be bothered at some point, would be interesting to compare with the last couple of years to see how their wording has changed. In any case, I'm certainly going to keep running down my contracts at the moment..
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aju
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Post by aju on Nov 30, 2019 23:39:54 GMT
Says A.R.Lewis CEO of Ratesetter 25 Sept 2019 in the latest accounts / annual report. "... recognise that a material uncertainty exists that casts significant doubt ....." Ah got it (for anyone else hunting, first sentence p7 here ) The actual wording isn't perhaps quite as strong as you summarised initially, a material uncertainty rather than significant and material risk. However, I do agree, that it's worth noting. If I can be bothered at some point, would be interesting to compare with the last couple of years to see how their wording has changed. In any case, I'm certainly going to keep running down my contracts at the moment.. If I got the right doc, the links didn't work for me, then the whole paragraph in question was This I found in the Retail Money Market Ltd, directors report ended 31st Mar 2019. Does anyone actually know how the 3/4 Ratesetter entries/companies in companies house docs are intertwined?.
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