Martin Lewis in on ITV now telling 8million how to get multiple current a/c rewards

pavane

colsten wrote: »

This must be the most incomprehensible website I have ever come across.

How do I get 5% on how much of my savings and when?

https://www.burnleysavingsandloans.co.uk/savings/

colsten

pavane wrote: »

https://www.burnleysavingsandloans.co.uk/savings/

Same AER for 2 years and for 3 years? :rotfl:

Is the AER fixed or variable? :rotfl:

Personal appearance in Burnley is required? :rotfl:

T&Cs are only available in their offices :rotfl:

No FSCS guarantee? :rotfl:

A photo with Chuka Umunna? :rotfl:

frank777

Why do people trade in stocks & shares - No FSCS guarantee?
The company you invest in, maybe goes under - times are hard! Great the FSCS will pay out on my bad investment?

''Feeling that High Street Banks treat people as credit scores and not as individuals, David decided to return to basics. As such, Burnley Savings and Loans Ltd DO NOT credit score, choosing a more personal approach to underwriting, dealing with customers on a case by case basis''

Peer-to-peer loans will soon be eligible for your ISA - in the new Tax Year?

It's a savings account, not a current account - you still keep your current accounts - It's just another vehicle for any spare cash - ''for the FAT CATS''

DYOR - do your own research!

colsten

frank777 wrote: »

Why do people trade in stocks & shares - No FSCS guarantee?

Investments made through regulated firms come with a £50K FSCS protection http://www.fscs.org.uk/what-we-cover/products/investments/

frank777 wrote: »

Peer-to-peer loans will soon be eligible for your ISA - in the new Tax Year?

only those of regulated firms qualify for inclusion in ISAs

frank777 wrote: »

It's a savings account, not a current account - you still keep your current accounts -

this doesn't make the savings account any safer

frank777 wrote: »

It's just another vehicle for any spare cash - ''for the FAT CATS''

leaving aside that you appear to be saying that people with savings are fat cats: as there is a vast array of regulated savings and investments, I can't see why anyone would take the risk of an unregulated investment with a firm that doesn't even publish their T&Cs on their website.

jimjames

frank777 wrote: »

It's a savings account, not a current account - you still keep your current accounts - It's just another vehicle for any spare cash - ''for the FAT CATS''

DYOR - do your own research!

It's not a savings account either as it appears to be Peer2Peer and not FSCS protected. Maybe suitable for some but only if they know exactly what they are signing up for.

frank777 wrote: »

Why do people trade in stocks & shares - No FSCS guarantee?

Not sure where you are trading in shares but mine are protected under the FSCS.

veryintrigued

This seems to be a thread highlighting the fact that some wish we shouldn't be highlighting things?

shortcrust

Lots of people may see this advice but it's only us small band of moneysavers who'll actually do anything about it. Think of how often you see stuff on TV about the advantages of switching energy, insurance etc. Do people do it? No, and faffing around with multiple bank accounts is a bigger ask.

robotrobo

Goldiegirl wrote: »

The thing is, many people have trouble managing one account,

If they tried to manage 5 they'd get into a complete mess. If you've got more bank accounts than you can comfortably cope with, then for those people it could well be too much effort.

Your talking about me goldie!, i have all these accounts on the go, i only take a serious look at the start of the month, by which time i have forgot passwords etc etc & i bumble my way through every month. And then i have a problem of where to put the interest to keep the balances down, im glad xmas is coming so that mr scrooge can give it away .;)

steve65e

I'm not too worried. The banks know we do it and two have even shown me how.

The interest/rewards are all promotions so they can try to sell us other products. If one closes there'll be another along soon...

shortcrust

steve65e wrote: »

I'm not too worried. The banks know we do it and two have even shown me how.

The interest/rewards are all promotions so they can try to sell us other products. If one closes there'll be another along soon...

At meeting of shocked bankers: "Can you believe that some people are actually just using our products to make a bit of money?!"