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1% bonus
Mar 11, 2020 18:47:14 GMT
via mobile
Post by aidanw on Mar 11, 2020 18:47:14 GMT
Slightly underwhelming but shows they are doing something to improve liquidity I guess.
£50 bonus if you invest between £5,000 and £9,999.99 £100 bonus if you invest between £10,000 and £19,999.99 £200 bonus if you invest between £20,000 and £49,999.99 £500 bonus if you invest £50,000 or more Sign in The bonus will be paid into your account by 30th April 2020.
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Post by df on Mar 11, 2020 19:07:47 GMT
Slightly underwhelming but shows they are doing something to improve liquidity I guess. £50 bonus if you invest between £5,000 and £9,999.99 £100 bonus if you invest between £10,000 and £19,999.99 £200 bonus if you invest between £20,000 and £49,999.99 £500 bonus if you invest £50,000 or more Sign in The bonus will be paid into your account by 30th April 2020. The same as the offer from AC, except AC’s bonus has no minimum investment requirement, “fire and forget” option is paying better rate and the access is more straight forward. I’m not participating in both offers, but if I wanted to I would find AC’s offer much more attractive.
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1% bonus
Mar 11, 2020 19:36:46 GMT
via mobile
Post by aidanw on Mar 11, 2020 19:36:46 GMT
Well you only need to stick some money in Access for a few weeks to get the bonus rather than having to wait a year. Although you might have to wait that long to withdraw it with present liquidity
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Post by gmumford on Mar 12, 2020 9:13:59 GMT
Check the small print. You have to leave it on for a year or pay them back your bonus.
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Post by aidanw on Mar 12, 2020 10:14:31 GMT
Ah, point 9), you're right.
9. If you receive a bonus your funds must remain on the RateSetter platform for at least 1 year from the date of qualification. If you withdraw your investment early, we reserve the right to request for any earned bonuses to be returned.
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Stonk
Stonking
Posts: 735
Likes: 658
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Post by Stonk on Mar 12, 2020 15:32:15 GMT
Ah, point 9), you're right. 9. If you receive a bonus your funds must remain on the RateSetter platform for at least 1 year from the date of qualification. If you withdraw your investment early, we reserve the right to request for any earned bonuses to be returned.
So, if you participate in the bonus scheme and withdraw early, RS have a contractual right to ask you to return the bonus. Fine! I don't mind granting someone the right to ask for something, just as long as they don't have a right to the thing they are asking for.
Why the verbose jargonistic legalese? Why not just "if you withdraw your investment early, you must return the bonus"?
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1% bonus
Mar 12, 2020 15:39:04 GMT
via mobile
Post by aidanw on Mar 12, 2020 15:39:04 GMT
Yes I was thinking that myself. They sound like they are threatening to claw back but actually have no intention. Probably too difficult to reprogram their systems. Or they don't expect to be around in a year.
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ceejay
Posts: 971
Likes: 1,149
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Post by ceejay on Mar 12, 2020 15:43:26 GMT
Ah, point 9), you're right. 9. If you receive a bonus your funds must remain on the RateSetter platform for at least 1 year from the date of qualification. If you withdraw your investment early, we reserve the right to request for any earned bonuses to be returned.
...
Why the verbose jargonistic legalese? Why not just "if you withdraw your investment early, you must return the bonus"?
Probably the same reason that you wrote "verbose jargonistic legalese" instead of "long words".
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Post by jono75 on Mar 13, 2020 12:43:35 GMT
I got the mail and to be honest I don't think it's a big enough incentive in the current market conditions. I've paused new investing in P2P for the time being. But it's nice that they are keeping in contact and giving some incentives.
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rscal
Posts: 906
Likes: 499
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Post by rscal on Mar 14, 2020 19:45:41 GMT
Yes, but which market is best? 1 year if available assuming not repaid early is the best bet as there are quite a few opportunities to snag a decent rate. Does the offer require the new money to be lent out or merely sat on the platform? And what about accounts in 'draw down' like mine? I suppose I would have to roll all repayments back on to platform lending rather than make further withdrawals?
I have about 8k still there so adding 5k for £50 or 10k for £100 could be done by simply reinvesting repaid money back into the 1 year market and turning repayments back on after a year. But it's a bit of a palaver I feel.
[Still, I am thinking about it]
POSTSCRIPT: Does money subject to a lend order but not yet lent out (i.e. simply in the lending queue) qualify as 'invested'? They don't spell it out but I assume they can't mean it has to be in loan contracts by the due date.
POST POSTSCRIPT: They haven't told me what my "initial balance" is - it reduces daily and I didn't note it down. So will they record this somewhere or do we need to ask them to be certain of how much our increase stands at? What's that I hear you say: "just dosh an extra 1000 for safety"?
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Post by jono75 on Mar 15, 2020 10:02:48 GMT
There are a lot of detail on there about how to qualify for the cashback. I initially invested £1k to get the £100 cashback (had paid last month). I realised that if it repaid early I'd probably not qualify so ended up putting in another grand in access to be sure. Now invested more but been trying not to get carried away with it.
I'd say if I was to go for this offer I'd put in more than 5k to be sure, not read t&c in detail but it mentions things like money in holding not counting etc. RS seem to be more open then most platforms I'd say though.
Now, what to do with my cash ISA that's matured, looking pretty grim in regular banks, but this damn virus makes me not to do anything risky right now, hence this offer.
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sd2
Member of DD Central
Posts: 621
Likes: 224
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Post by sd2 on Mar 15, 2020 11:13:03 GMT
Did I read 12 million institutional money on it's way?
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sd2
Member of DD Central
Posts: 621
Likes: 224
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Post by sd2 on Mar 15, 2020 11:16:49 GMT
Also the drop in interest rates will mean they can(not will) be able to increase the provision Fund....and become profitable. Hasn't stopped me setting my 6.1% access account to sell. The stock market looks like a better bet.
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1% bonus
Mar 15, 2020 13:27:19 GMT
via mobile
Post by Deleted on Mar 15, 2020 13:27:19 GMT
Also the drop in interest rates will mean they can(not will) be able to increase the provision Fund....and become profitable. Hasn't stopped me setting my 6.1% access account to sell. The stock market looks like a better bet. I think the stock market may have further to fall - I agree there may be opportunities though.
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rscal
Posts: 906
Likes: 499
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Post by rscal on Mar 16, 2020 10:44:09 GMT
Some advice from the regular RS investor-set please:
The best way to add funds to the platform and not waste my time getting a derisory rate? I have put £50 paid back on the 1 year @5.9 thinking that might be reached on weekend (but didn't this w/e) Is the Access market a better bet? In particular do the terms of the offer allow one to top up at any old going rate before the deadline and then attempt to massage higher rates via 'release you investment' and reinvesting at higher rates available from the Access? Or has RS closed that route off via a 'highest rate first' type withdrawal rule? I don't know the new markets at all having been in draw down for 18 months now. Thnx.
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