MSE News: Warning! Re-Give savings not protected

alanq

Q&A includes

"The registered address:

Our current (temporary) registered address at a residential property – many organisations use this address for registering purposes because a person who does the legal work relating to FSA registrations has his office within the premises."

"We have a large number of people working from different locations and we are moving our registered address to a new operational HQ in the centre of Chelmsford later this month."

http://www.money.co.uk/article/1009242-re-give-mutual-society-your-questions-answered.htm

gadgetmind

dunstonh wrote: »

Anyone posting odds on their website being changed in the future to remove the image?

Yes, and replaced by a "This domain name is for sale" sign.

gadgetmind

alanq wrote: »

"We have a large number of people working from different locations

Working from home and recruited via posters on street lamps?

innovate

Here's a link to the thread started earlier about them. Very useful information in there

london2008

pooch wrote: »

Odd that the phone number they use (01273 741483) is a Brighton number, not a Chelmsford number.

it's also the same telephone number used on

http://redaid.zzl.org/about.html

This is clearly all a SCAM!

london2008

alanq wrote: »

Q&A includes

"The registered address:

Our current (temporary) registered address at a residential property – many organisations use this address for registering purposes because a person who does the legal work relating to FSA registrations has his office within the premises."

"We have a large number of people working from different locations and we are moving our registered address to a new operational HQ in the centre of Chelmsford later this month."

http://www.money.co.uk/article/1009242-re-give-mutual-society-your-questions-answered.htm

Well, if that was the case I'm surprised they would want someone to send their deposit cheques to the 3 Parry Hill Street. Such a scam!

Consumerist

Just sent some feedback on money.co.uk website to pass on our misgivings.

ctdctd

Just tried a dummy bond application.

They say "A cheque for the amount of £xx should be made payable to Re-Give and sent to the address detailed below. Please ensure that you write your Bond Application Number (given on the next page) on the back of your cheque"

So no mention of the client name as the payee on the cheque which all banks have been doing for ages - or even something like "Re-Give Client Account". I wonder if they even have a client deposit account!

Cheques get sent to, you guessed it, the private house :mad: But they do ask you to send them an email to say it's on its way - maybe they visit from Brighton every third Thursday to pick them up!

This cannot be real :eek:

innovate

jamesd wrote: »

If you wish to complain to the Financial Services Authority about what may be a misleading financial promotion by a regulated company you should visit this page and then complete the reporting form. Don't call, they will after a long call just end up directing you to the reporting form.

Thanks for the link, just filled in the form

oldvicar

Just suppose they manage to upgrade their FSA registration to become an authorised deposit taker ... would go straight to the top of MSE's best-buy table?

I'd rather "Bank on Dave".

Meanwhile, thanks for the warning.