sildenafil
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Post by sildenafil on Jul 6, 2016 21:09:39 GMT
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sqh
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Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Jul 6, 2016 22:30:29 GMT
It doesn't mention MLIA investments but does say all investment accounts. Confusing.  |
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pikestaff
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Post by pikestaff on Jul 6, 2016 22:43:52 GMT
The investment accounts listed are 30 day, QAA, GBBA, and GEIA, and it's clear that's where they want the money to go. However, if you click through to the T&Cs it seems to be enough to have the money invested somewhere on the platform, which would include the MLIA.
The £150k incentive works out at 7.5% if you put in the minimum £2,000 for 1 year. It seems to me that putting this in the 30 day account or the QAA is a no brainer. I'm not sure the GBBA or GEIA currently work well enough to deserve an unequivocal recommendation, especially for the less experienced investors at whom the offer seems to be aimed. And I'd not point inexperienced investors toward the MLIA either.
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stevio
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Post by stevio on Jul 7, 2016 3:35:34 GMT
The investment accounts listed are 30 day, QAA, GBBA, and GEIA, and it's clear that's where they want the money to go. However, if you click through to the T&Cs it seems to be enough to have the money invested somewhere on the platform, which would include the MLIA. The £150k incentive works out at 7.5% if you put in the minimum £2,000 for 1 year. It seems to me that putting this in the 30 day account or the QAA is a no brainer. I'm not sure the GBBA or GEIA currently work well enough to deserve an unequivocal recommendation, especially for the less experienced investors at whom the offer seems to be aimed. And I'd not point inexperienced investors toward the MLIA either. Would you be able to briefly summarize the different account options and maybe equally briefly expand on why you wouldn't recommend some? Is there a similar referral offer for current members? The 7.5% would be CB, so not classed as interest and as far as I am aware it wouldn't be declarable on a tax return as it is an incentive to invest, so even better for tax payers there
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oldgrumpy
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Post by oldgrumpy on Jul 7, 2016 8:07:43 GMT
So AC have so much cash sloshing about that current investors are often only allocated a two figure amount as each loan is drawn down, sometimes less than £30, but they still want more investors' money so that the allocations are likely to be even lower. How helpful is that to the "faithful"?  |
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Post by chris on Jul 7, 2016 8:16:09 GMT
So AC have so much cash sloshing about that current investors are often only allocated a two figure amount as each loan is drawn down, sometimes less than £30, but they still want more investors' money so that the allocations are likely to be even lower. How helpful is that to the "faithful"? This promotion was booked in in January - that's the lead time on this kind of thing. We could probably have done with it being a couple of weeks later, but there are a lot of loans coming through the pipeline now so by the time this (and other) promotions really kick in we'll be wanting the cash again.
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arbster
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Post by arbster on Jul 7, 2016 8:28:13 GMT
chris - The T&Cs say "Deposit a minimum of £2,000 in an Assetz Capital investment account", but given that Assetz has separate "investment accounts", does that mean I must deposit £2,000 into one of the four listed investment accounts, or can it be split between them?
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Post by chris on Jul 7, 2016 8:39:24 GMT
chris - The T&Cs say "Deposit a minimum of £2,000 in an Assetz Capital investment account", but given that Assetz has separate "investment accounts", does that mean I must deposit £2,000 into one of the four listed investment accounts, or can it be split between them? No idea I'm afraid - could you check with customer services?
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pikestaff
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Post by pikestaff on Jul 7, 2016 9:16:30 GMT
The investment accounts listed are 30 day, QAA, GBBA, and GEIA, and it's clear that's where they want the money to go. However, if you click through to the T&Cs it seems to be enough to have the money invested somewhere on the platform, which would include the MLIA. The £150k incentive works out at 7.5% if you put in the minimum £2,000 for 1 year. It seems to me that putting this in the 30 day account or the QAA is a no brainer. I'm not sure the GBBA or GEIA currently work well enough to deserve an unequivocal recommendation, especially for the less experienced investors at whom the offer seems to be aimed. And I'd not point inexperienced investors toward the MLIA either. Would you be able to briefly summarize the different account options and maybe equally briefly expand on why you wouldn't recommend some? ... For what the account options offer, I suggest you look at AC's website! I'd not currently recommend either the GBBA (business loan investment with a provision fund) or the GEIA (green investment with a provision fund) because: (i) they achieve only limited diversification which you may not consider sufficient; (ii) they are currently struggling to get invested (especially the GEIA) so you are likely to find a good chunk of your cash earning nothing; (iii) you need to be aware that if any loans go bad you are stuck with them until the recovery process is complete. The provision fund won't make you whole until then, which could take years. And of course, like other provision funds, there is no guarantee. There's no secret about any of this this but some investors who've not read the T&Cs have been taken by surprise. Just my opinion.
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Post by mrclondon on Jul 7, 2016 16:55:04 GMT
Echoing others, its probably best to steer clear of GEIA for the minute as 7 wind turbine loans are due to redeem very shortly, which I think leaves just 4 wind turbines and an anaerobic generator. AC have indicated they hope new green energy loans will come along in due course, but for now the GEIA will struggle to invest funds.
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Jul 8, 2016 11:25:21 GMT
I've received confirmation that the offer does not apply to MLIA investments.
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SteveT
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Post by SteveT on Jul 8, 2016 11:51:17 GMT
I've received confirmation that the offer does not apply to MLIA investments. There is nothing in the offer T&Cs (see below) that says this. Indeed, the phrase used is "any of the Assetz Capital investment accounts", so it would be wholly unreasonable for the Manual Loan Investment Account to be excluded. andrewholgate , please can you confirm that the offer covers ALL of the AC investment accounts, including the MLIA? Earn A £150 Bonus When You Deposit £2,000 Into An Assetz Capital Investment Account!
Deposit a minimum of £2,000 in an Assetz Capital investment account and earn £150 bonus if left on the platform for 12 months;
Deposits into any of the Assetz Capital investment accounts are eligible for the bonus payment and you are free to deposit and withdraw funds at any time in line with the normal account rules;
The cashback amount is paid on the 12 month anniversary of your initial deposit of £2,000 (or more) and payment is made into your cash account soon afterwards. A minimum balance of £2,000 must be held on the platform for 12 months from the initial deposit to qualify for the bonus payment;
Terms and conditions apply (see below).
Terms And Conditions
The £150 bonus payment promotion is only for new investors not already registered on the Assetz Capital website who have been introduced to Assetz Capital via the Moneysupermarket.com website (and their emails) between 22nd June 2016 and 21st July 2016;
There is no limit to the amount you can invest on the Assetz Capital platform but a minimum of £2,000 must be held for the full 12 months from the date of the initial £2,000 deposit.
To be eligible for the bonus offer, customers must make their first deposit onto the Assetz Capital website by midnight on the 21st July 2016.
The bonus payment will be credited to a customer’s account within five working days following the 12 month anniversary of the initial £2,000 deposit.
Customers will receive an email to inform them that the bonus payment has been credited to their cash account.
The minimum investment to qualify for the £150 bonus in £2,000 but the minimum amount that can be deposited on the Assetz Capital platform is £1.
Investments made directly through the Assetz Capital website, other price comparison websites or other third party websites will not be eligible for this bonus offer.
This promotion is on offer only for those who register and have been verified by the ID Check System used by Assetz Capital.
Customers must be aged 18 or over.
Assetz Capital reserves the right to withdraw this promotion at any moment and without prior notice.
By participating in this promotion, customers agree to be bound by these promotion-specific Terms and Conditions which are in conjunction with Assetz Capital’s full Terms and Conditions and the Lender Agreement.
Customers participating in this promotion are not eligible to combine this offer with any other current or future Assetz Capital promotions.
Assetz Capital is under no obligation to accept any customer.
Participants, whether individually or in a group, will be found to be in breach of these promotion-specific terms if Assetz Capital, at its sole discretion, has a reason to believe that a promotion has been abused or manipulated, or that irregular, fraudulent, collusive or illegal activity has occurred.
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Mike
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Post by Mike on Jul 8, 2016 22:12:24 GMT
The really annoying thing is I have a million people to recommend this offer to.
None of them would be me.
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Post by bluechip on Jul 9, 2016 2:15:09 GMT
This promotion may go some way to replacing the perceived mass exodus of the regular long term or HNWI investors in the short term. You know those people who got fed up with their money not working for them. The trouble is (as an Assetz investor) the regulars have A LOT more patience than newcomers, who will suddenly realise their £2k stands a good chance of earning them next to nothing, so they will be less than impressed and likely withdraw early or certainly curb their enthusiasm for P2P in general. Most people prepared to take a punt are already involved in P2P, so these people taking up the offer will already have a bit of skepticism built in imo. The house should certainly have been in order before the "go live" button was pressed on this campaign, even if it meant taking a small hit by delaying things. Shame you need to have a 7 month lead time for a promotion of this nature, especially with all the peaks and troughs with loan flow - seems a bit reckless to me. Trying to predict 7 weeks into the future is hard enough in this market it seems, let alone 7 months. Not only are existing investors growing increasingly frustrated at the minute from what I read (and feel myself), but this adds a bit of insult to injury. I appreciate Assetz say that you have a lot of loans coming to market, but past experience tells me to wait and see, rather than believe and act on that assurance. I genuinely hope the gamble pays off and deal flow occurs and everyone is happy, but I am not confident. That Seedrs investment sure does feel like a long time ago right now.  |
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Post by GSV3MIaC on Jul 9, 2016 19:38:27 GMT
I am, as ever, massively unimpressed with any offer which gives a better deal to new arrivals than to long term loyal customers .. typical bank/B-soc activity. 8<.
What's wrong with MY £2k, I asks myself.
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