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Re Give, is it safe, please help

[Deleted User]
[Deleted User] Posts: 0 Newbie
Part of the Furniture 10 Posts Name Dropper Combo Breaker
in Savings & investments
Has anyone heard of 'Re give'?

Was thinking of inverting my hard-earned cash with them for 12 months, but don't wanna kiss it goodbye. Not even a penny.

What do you think? Is it safe? Have emailed them and they said intial deposit is safe even if they go bump.
Big thanks

Comments

  • premierfella
    premierfella Posts: 906 Forumite
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    You don't want to kiss a penny goodbye.

    Which would suggest that you should (as a minimum) be looking for FSCS protection surely?
  • Rafter
    Rafter Posts: 3,850 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Would you invest in an organisation that has only just lauched, is registered to a private home address and whose predescesor is being investigated by the Charities Commission?

    If still not sure do a search for re give on the guardian website and the interview with the owner and then decide whether you still think it is worth the extra £14 per £1000 savings in interest above what you could earn fully guaranteed?

    They are lying to you if they are guaranteeing your money is safe. Without the FSCS or a government guarantee behind them, which there isn't, you money cannot possibly be 100% safe.

    R.
    Smile :), it makes people wonder what you have been up to.
  • dunstonh
    dunstonh Posts: 121,283 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Has anyone heard of 'Re give'?

    Yes. There are several threads, including one that has had posts today and a couple of board articles.
    Is it safe?

    No.
    Have emailed them and they said intial deposit is safe even if they go bump.

    You may wish to forward that email to the FSA as that is not correct. There is no FSCS protection with them.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • badger09
    badger09 Posts: 11,811 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    edited 29 August 2024 at 2:57PM
    [Deleted User] wrote:
    Has anyone heard of 'Re give'?

    Was thinking of inverting my hard-earned cash with them for 12 months, but don't wanna kiss it goodbye. Not even a penny.

    What do you think? Is it safe? Have emailed them and they said intial deposit is safe even if they go bump.
    Big thanks

    Haven't you read this :(
    https://forums.moneysavingexpert.com/discussion/4074601
  • MoneySaverLog
    MoneySaverLog Posts: 3,232 Forumite
    They're not going to get a penny off me until they can offer FSCS protection at which point it might be worth a punt as it would then be protected.

    No FSCS protection = No Investment. Simples
  • jamesd
    jamesd Posts: 26,103 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    The other thread has a link to the FSA misleading advertising complaint form. Please use that and provide the FSA with a copy of your question and the answer that you received and the dates for each. It will show them engaging in a misleading practice and help the FSA in its enforcement activity against them, particularly if they are continuing to tell potential providers of money one thing and the FSA something else. You're in a unique position to be helpful here, please use that chance to help others.
  • jimjames
    jimjames Posts: 19,264 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    edited 29 August 2024 at 2:57PM
    [Deleted User] wrote:
    Has anyone heard of 'Re give'?

    Was thinking of inverting my hard-earned cash with them for 12 months, but don't wanna kiss it goodbye. Not even a penny.

    What do you think? Is it safe? Have emailed them and they said intial deposit is safe even if they go bump.
    Big thanks

    Just because they say it is safe doesn't mean it is.

    Why risk any of your money for such a poor return compared to a guaranteed amount in a bank or building society?
    Remember the saying: if it looks too good to be true it almost certainly is.
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    Part of the Furniture 10 Posts Name Dropper Combo Breaker
    Thank-you
    all very much for those replies.     Most helpful. Thanks again folks

    :money:
This discussion has been closed.
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