Mutual.net points value??

magicman1

Is it me or has the points value on mutual net changed - on this site(Cashback sites) there is a table which quotes a mutual point is worth 0.66p and you need 3000 points to claim your cashback - the site now quotes a value of 0.0016p and 15000 points before you can get a rebate. This would make it very uncompetitive compared to say Greasy palm.

sparky61

If you mean mutual points, I've just redeemed 6000 points which equates to them sending me a cheque for £40.

juno

There's 2 sites, run by the same people: mutualpoints.com and themutual.net

With Mutual Points, you collect points and 3000 points makes a cheque for £20. With The Mutual, you collect shares and then get the stock market value of your shares when they have redemption campaigns (or that's how I understood it).

magicman1

Thanks folks for the info - looks like I am using the wrong one.
As you say you can have shares or cashback but the cashback rate is nowhere near as good as the other mutual site - I will investigate the other one and see if there is any possibility of transferring them.
For info this is the smallprint from the mutual.net

Members must accrue a minimum 15,000 "Available" Units before they qualify for redemption.

As from 21st September 2004 Members have a choice of rewards at redemption as follows:

Either:

1) Units converted into ordinary shares ("Shares") of 0.0001p each in themutual.net plc based on the following formula:

Number of Shares = Number of Units x 0.1667 / Share Price

The Share Price being the average share price of themutual.net plc shares, in pence, for the five business days preceding the Notice of Redemption date.

Or:

2) Units redeemed for cash based on the following formula:

Cash value in £ = Number of Units x 0.1667 / 100

The cash value will be paid by cheque sent to a member's registered address.

When the Shares are issued they will be in the name of IRG Trustees Limited which will hold the Shares on your behalf under their terms and conditions. Click here to read IRG's Terms and Conditions.

juno

I don't think you can transfer your points into shares, but you can swap from earning one to the other. So if you have 100 shares and want to collect points you can, but you don't get the shares in points.

It took me ages to collect 2000 points. The site said I registered in 1999, and I got my cheque 2 months ago. (I only got the internet in 2001 though, so I think the site was slightly wrong) If you want a reward site, IMO there are much better ones.

anniew

Hi all,
Don't want to be thick / pedantic / etc, but here goes.......
I think some of the confusion is in the terminology they use. Previously in Mutual.net we had "shares". These are now "units". I have been with them from the start I think, and have over 80,000 "units". Whilst I understand the concept of turning them into actual shares, I emailed them for clarification. This was because, in theory, I had gone through several conversions (apparently they happen regularly), and I wanted to know how many shares I owned. I received a polite, but non informative reply.
According to the T&C's as in Magicman1's helpful post I think it goes like this:
(Example only)

1) Units converted into ordinary shares ("Shares&quot of 0.0001p each in themutual.net plc based on the following formula:

Number of Shares = Number of Units x 0.1667 / Share Price

i.e. 80,000 x 0.1667 / 0.25p = 53344
Is it me?.....but what is the 53344 - if it is shares I'm very happy (!), but I doubt it....
I think there should probably be another /100 on the end of the sum?
That would make 533.44 shares @25p = £133.36 (same as below)
Or:

2) Units redeemed for cash based on the following formula:

Cash value in £ = Number of Units x 0.1667 / 100
i.e. 80,000 x 0.1667 / 100 = £133.36
Easy peasy, understood.

Where it gets interesting is that recently, the quoted share price went up to about 37p, which would make the share value around £200

But, I still don't know how many actual shares I have, if any!
Any further ideas?

amit_1

i have over 11000 points with them so far

magoogy

how on earth do you get so many points? i dont buy much online and have already signed up for all the free stuff - at one time they would give you one point for every time you clicked on their ads of the day - that stopped and i am stuck on 2200 points - 800 to go then i get my £20 cheque....

anniew

magoogy wrote:

how on earth do you get so many points? i dont buy much online and have already signed up for all the free stuff - at one time they would give you one point for every time you clicked on their ads of the day - that stopped and i am stuck on 2200 points - 800 to go then i get my £20 cheque....

Believe me - it's hard work for a girl doing all that shopping!

Actually, initially they were offering some really good incentives, and their huge range of merchants makes it easy to rack the points up. Just remember, whenever you want to buy online, check if TMN has the relevant merchants on their books., and who is offering the most units.

fbs_4800

Hi! Just to see if I can be of any help or offer any advice...

Not sure why this is on 'the rip offs or warnings board' though...?

I signed up for themutual.net AGES ago - a good few years ago, signed up for a load of offers and forgot about it.

I recently remembered I was a member and signed in to find I had about 55,000 units. The share price at the time was approx 35p and this equated to about £180 :j or something like that.

Needless to say I was impressed.

The main way to build up your shares is to sign up for the online casino's, deposit the minimum - say, £10 - have a flutter and then never use it again. This can often get you 15,000 shares in a single hit and is how I built mine up so quickly.

The site, www.themutual.net is definitely worth a look if nothing else.

Here is an email they sent me before - I'll be honest - I find their level of customer service to be bloody brilliant and I always get a personal response within a few days...

---

Dear Jason,


If you login to your account with us and click on the My Rewards tab, in your rewards summary, you will see that you have
48390 converted units and a total of units that are awaiting conversion / redemption at conversion dates.
But if you were to sell your shares via Capita IRG or look up your account information on their site you will be notified that
you have only 483 shares. The reason being that we have consolidated the shares 100 times.


Every member now has 100 times less shares but the price has gone up 100 times so the monetary value has not changed.
You shares are currently valued at £ 185.95



To find out your share allocation and how much it is worth,please click on the following link: https://www.capita-IRG.com
From here, click on "Shareholder Services" tab located at the left hand. Under ' Choose a service ' click on the first option provided.
In the next page, in the space provided, type the company name “themutual.net”. On the next screen, click the icon next to Account
Enquiry, and a page listing the Terms and Conditions will be displayed. When you have finished reading the Terms and Conditions,
click “I Agree”.

You will then need to enter the following information:

1. Your Family name.

2. Your IVC number (Investor Code number). ************

3. Postcode.

With regard to the units in your account that are awaiting conversion / redemption, kindly note that as of 21st September 2004 Members
need to have a minimum of 15,000 Available units before they can qualify for either conversion to shares or redemption for cash.


Thank you for your enquiry.

Have a fantastic day!

Warm Regards,
Meghna Mohan,
Member Services Manager,
themutual.net

---

Hope this is of use to somebody....?

Jason

P.S. - If you find any refer a friend offers and you are going to sign up - please let me know. I'm not sure if they do them anymore...

fbs_4800

Just found this whilst browsing and noticed people don't appear to be singing the praises of themutual.net

I was just wondering why?

I've used the site a fair bit and I get money for just reading their advertising emails and signing up to the odd offer through the site.