Funding circle john lewis promotion

chamelion

Hi everyone,

Just seen funding circle's John Lewis voucher offer for deposits. My query is what stops you from cashing out existing investments, signing up for the promo, and re depositing money?

Wouldn't that work?

Thanks!

soulsaver

Got a link to the T&Cs?

Alexland

They seem to want big deposits for modest vouchers - not that attractive.

https://www.fundingcircle.com/offers

Withdrawing money from any of your investor accounts before the Qualifying Date could reduce the value of the John Lewis e-gift card you receive or disqualify you from this promotion.

Rich2808

A £15,000 investment just to get a £100 John Lewis voucher?

I can get a £5 voucher every 3 months direct from John Lewis just by buying a £50 gift voucher which I use to buy my shopping at Waitrose. And there is no risk with that.

A tempting offer which few will be tempted by!

chamelion

Rich2808 wrote: »

A £15,000 investment just to get a £100 John Lewis voucher?

I can get a £5 voucher every 3 months direct from John Lewis just by buying a £50 gift voucher which I use to buy my shopping at Waitrose. And there is no risk with that.

A tempting offer which few will be tempted by!

My returns on FC have been 6.1% blended over the past 7 years. This is just an added bonus for moving money out of other smaller yield accounts.

Yes it's riskier and not a savings account, but they've delivered consistently. Don't picture them destroying themselves before June, when the offer is paid out and you're free to withdraw.

Mr.Saver

Have anyone ever tried to sell the loan parts on FC inside an ISA?

I feel they are extremely illiquid. I've been trying to sell a few thousands so I can transfer them to S&S ISA, but 2 weeks have past, and none were sold.

Now I'm just waiting for the 5th April deadline, and hopefully by then enough fresh fund will flow in and buy me out.

Stuart1

Talking of Funding Circle, I have a £30K private pension pot (I am past retirement age) and want to put it somewhere. Several friends have suggested Funding Circle. Any thoughts? Semi-safe? Rate of return looks fair? Catches? Risks? Any better options? Thks

Zanderman

Stuart1 wrote: »

Talking of Funding Circle, I have a £30K private pension pot (I am past retirement age) and want to put it somewhere. Several friends have suggested Funding Circle. Any thoughts? Semi-safe? Rate of return looks fair? Catches? Risks? Any better options? Thks

Probably best to start your own thread rather than changing the theme of this one. Possibly on the pensions part of the forum.

I'm not clear what you're suggesting - your private pension pot is, surely, already invested, in the private pension. Why do you think Funding Circle would be better? Or do you mean you have, or are intending to, withdraw a lump sum of £30k and want to put it somewhere? Same argument applies - you could just leave it where it is, if you don't know what to do with it.

Anyway, I'd suggest asking the question on the pensions board! https://forums.moneysavingexpert.com/forumdisplay.php?f=19