puffin
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Post by puffin on Sept 30, 2016 14:55:56 GMT
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greatmarko
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Post by greatmarko on Nov 30, 2016 13:38:21 GMT
Which P2x don't use Barclays? In light of today's news of RBS failing Bank of England Stress Tests, I thought I'd look into this a little more (to see if any platforms use RBS for holding client monies). These are the banks that the following P2x platforms hold their client accounts in: Barclays:- Assetz Capital
- B.Lend
- BondMason
- Funding Circle
- Funding Secure
- Huddle Capital
- Lending Crowd
- PropertyCrowd
- Proplend
- RateSetter
- Rebuilding Society
- Saving Stream
- ThinCats *
- Unbolted
- Wellesley & Co
HSBC:Lloyds:- BridgeCrowd
- Funding Empire
- Welendus
Metro:- Funding Knight
- Kuflink
- MoneyThing (Previously Barclays)
NatWest:- Ablrate
Collateral- Lending Works
RBS:TSB:
..so only Zopa in RBS so far (although as amphoria correctly points out below, NatWest comes under the RBS umbrella).
However, as others have said previously, it's unlikely that the government would just let a major bank fail... but I thought it was interesting to compile a list of where platforms hold our uninvested cash!
* ThinCats is an interesting one - as client funds are held by a 3rd party, rather than directly by a bank: "lenders’ funds are held by an independent authorised body, Street UK Ltd, which is contracted to receive funds on behalf of the ThinCats platform". Street (UK) C.I.C. (formally Street (UK) Ltd) are a Birmingham based finance company. According to mrclondon , Street hold monies in Barclays.
UPDATE: 12th November 2018
Two years on and it's probably time to update this for completeness! Changes are indicated in blue in the above list above, specifically:
- Collateral have since gone into Administration (February 2018), however prior to this they moved client accounts from NatWest to Santander in May 2017, according to dan1 in this post.
- MoneyThing have since moved client accounts from Barclays to Metro Bank, according to ilmoro and slender in this thread. This took place in January 2018.
- Added info for BridgeCrowd, B.Lend, Huddle Capital, and Property Crowd. Thanks to slender in this post.
- Added info for Kuflink & Welendus
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amphoria
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Post by amphoria on Nov 30, 2016 13:57:48 GMT
NatWest is also part of the RBS group.
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greatmarko
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Post by greatmarko on Nov 30, 2016 14:01:29 GMT
NatWest is also part of the RBS group. You're quite right! - Post updated accordingly
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Post by mrclondon on Nov 30, 2016 14:09:16 GMT
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shimself
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Post by shimself on Nov 30, 2016 16:25:07 GMT
Try typing "Barclays business bank account review" in Yahoogle............finding a score above 1* is on a par with rocking horse s*!* I've have seen the same for all of the big banks, including Santander. I actually need to know a good bank for a business account, for a LTD company consultancy firm we are starting up in a few months, if any bank left has a good reputation. Handelsbank supposedly
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Nov 10, 2018 21:54:38 GMT
Moneything - Metro
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