Post by lofty on May 14, 2016 6:37:32 GMT
Does anyone have any experience of the 1% reward offering for introducing a friend or family?
The terms and conditions say a 'spouse' is not valid, how do SS do checks on this because if I refer a parent then they will also have the same surname, is that going to flag something dodgy to the people at SS? And yes I'd like to refer my Mum - her tax position is much more favourable than me...
A second question is what is considered a first investment? From my experience on the SM, getting a nice juicy amount in one go is pretty much imposssible - let alone the first. Frequently you attempt to buy one amount and it gets chopped down to mere pennies. I'd be a tad annoyed if my 1% reward was on one of these paltry investments. I could attempt to stack the odds in my favour by selling some of my loan parts and getting the timing right, but surely offloading from one account to another and then getting cashback from those very two accounts would set off alarms somewhere? Wouldn't this be classified as abuse of the scheme? Particularily if I did the same trick to get those loan parts back at some point?
Putting something is the pipeline loans might yield something better, but from what I read on these forums these tend to be oversubscribed and so this could also be chopped down significantly.
Lastly it mentions paying after 3 months of a valid investment. Does that mean that the specific original invested loan part has to be held for 3 months? No guarantee that will happen as loans can be paid at a moments notice - it also hinders trading on the SM.
Opinions, thoughts, experiences welcome.
Cheers
The terms and conditions say a 'spouse' is not valid, how do SS do checks on this because if I refer a parent then they will also have the same surname, is that going to flag something dodgy to the people at SS? And yes I'd like to refer my Mum - her tax position is much more favourable than me...
A second question is what is considered a first investment? From my experience on the SM, getting a nice juicy amount in one go is pretty much imposssible - let alone the first. Frequently you attempt to buy one amount and it gets chopped down to mere pennies. I'd be a tad annoyed if my 1% reward was on one of these paltry investments. I could attempt to stack the odds in my favour by selling some of my loan parts and getting the timing right, but surely offloading from one account to another and then getting cashback from those very two accounts would set off alarms somewhere? Wouldn't this be classified as abuse of the scheme? Particularily if I did the same trick to get those loan parts back at some point?
Putting something is the pipeline loans might yield something better, but from what I read on these forums these tend to be oversubscribed and so this could also be chopped down significantly.
Lastly it mentions paying after 3 months of a valid investment. Does that mean that the specific original invested loan part has to be held for 3 months? No guarantee that will happen as loans can be paid at a moments notice - it also hinders trading on the SM.
Opinions, thoughts, experiences welcome.
Cheers
