8.05% Rolling Account One Year Notice from Friends Mutual

sabretoothtigger

Clearly no link with any similarly named UK company, though doubtless they are happy for punters to make that connection.....

For that reason alone, logically its probably best to avoid or pick an alternative actually based regulated and operating down under

socrates

2sides2everystory wrote: »

ask to see the so-called lloyd's insurance policy complete with the marks of the exact lloyd's syndicates involved. I bet you'll never see it.

+1,000,000

minus10

donkingkong wrote: »

8.05% if you deposit £100k+ on a rolling 1 year notice period. NZ based so no UK deposit protection but insurance with Lloyd's covering deposits up to £500k.

Who are these guys? And what are the tax implication?

Amazing rate of return? No phone number? Shared hosting service? I wouldn't worry about tax on any profits. :rotfl:

donkingkong

No SSL cert. on Apply page either. I'll have my banker cancel the transfer!

Biggles

donkingkong wrote: »

No SSL cert. on Apply page either. I'll have my banker cancel the transfer!

Oddly, if you click on the link with a padlock in the TRH corner saying, "Online Security", it just takes you back to the homepage!

Oh dear....

theGrinch

why do they need to pay way over the market rates to attract investors unless its high risk or less than straightforward?

return of capital is more important than return on capital.

don_giovanni

Jonbvn wrote: »

This seems too good to be true. How can they make any money on the rates they are offering?

Has anybody opened an account with them?

They say they invest in property development. That can produce returns well above 25% pa. So keep the overheads under control and offer a little extra interest . . . they're probably making a fortune.

And if Italy and Portugal are paying 6 or 7% pa for funds, why shouldn't commercial companies?

Google wouldn't list them without seeing the insurance.

Think I'll give it a try.

socrates

don_giovanni wrote: »

They say they invest in property development. That can produce returns well above 25% pa. So keep the overheads under control and offer a little extra interest . . . they're probably making a fortune.

And if Italy and Portugal are paying 6 or 7% pa for funds, why shouldn't commercial companies?

Google wouldn't list them without seeing the insurance.

Think I'll give it a try.

You sound about as genuine as they do

Aegis

don_giovanni wrote: »

They say they invest in property development. That can produce returns well above 25% pa. So keep the overheads under control and offer a little extra interest . . . they're probably making a fortune.

Then it's not a cash investment, it's essentially mezzanine financing (at best) with capital significantly at risk. If capital is significantly at risk, you can almost guarantee that the insurance needed to cover the investment would be close to the value of the investment itself in premium, which indicates that the structure doesn't meet the common sense requirement.

Should not be compared with cash, should not be presented as cash, and I wouldn't trust a company carrying out such an investment while essentially claiming that it's safe. It's dishonesty at best and outright scamming at worst.

And if Italy and Portugal are paying 6 or 7% pa for funds, why shouldn't commercial companies?

They do. But the legitimate ones don't call it cash and won't claim that money is safe if invested with them. They won't call it a savings account either.

Google wouldn't list them without seeing the insurance.

This part of your post makes me think you must either be winding people up or a representative of the company itself without a clue about search engines. Google will put literally anything up on the web, they certainly don't check out website claims before allowing people to find that website in their searches. All search engine indexing is carried out by automated programs, there's very rarely any human involvement at all.

FLAPJACK

Well I'm certainly going to invest some of the £6.5 million which I'm expecting anyday from Nigeria that I was emailed about last week.
All I had to do was send off my bank details....and now this investment chance comes along!!!.

Seriously though remember "Buyer Beware"