Fixed Bonds

Mumum

Thank you Masonic. Mark Thompson is who I set up my trust with. The article covers setting up the Trust but doesn’t (as far as I can see) advise on investing further. I already have the money deposited with Skipton in a trust account but the interest is 0.75% variable and I was hoping to at least double that. I rang Skiptons today and they can offer a 1.25% fixed bond for 1 year so that is my fall-back option. Meanwhile I have received a call back from Citibank (having filled something online yesterday) who have advised they do a fixed rate 1 year bond at 2.14%. They are sending me an email with all the details and an application form, though my paranoia is making me wary (as the caller could be anyone) so I need to look into this further.

Mumum

And now a call back from JP Morgan who claim they can offer larger returns of 2.75% for 1 yr fixed bonds due to investing the money with a larger pool of money rather than as a separate investment, as per your banks. They are ringing me back Wednesday. They are apparently opening up to non-corporate customers to encourage interest and future investments from said parties. Any thoughts on this? Sound genuine? Another online form I filled out. They said the Trust could buy the bond and all three trustees would complete a ‘compliance step’. Thank you ��

Mumum

Oh and JP Morgan say they take 0.25% one off of the interest accrued. Seems pittance. Too good to be true?

coyrls

Mumum wrote: »

And now a call back from JP Morgan who claim they can offer larger returns of 2.75% for 1 yr fixed bonds due to investing the money with a larger pool of money rather than as a separate investment, as per your banks. They are ringing me back Wednesday. They are apparently opening up to non-corporate customers to encourage interest and future investments from said parties. Any thoughts on this? Sound genuine? Another online form I filled out. They said the Trust could buy the bond and all three trustees would complete a ‘compliance step’. Thank you ��

On the face of it, no, it doesn't sound genuine. How did you check that your call was indeed from JP Morgan? To be frank it's not really the sort of business they would be involved with and 2.75% sounds too high for a one year term account.


I suspect it to be a scam call. The 2.75% rate is taken from the rate for a JP Morgan Corporate Bond: http://cbonds.com/emissions/issue/151001, not the same as a term account but I think that is only for cover anyway. JP Morgan would not be ringing you, it's not their business model.

Mumum

Thank you Coyris. The number they called me from was 02033182459. Are these online sites which require your details invariably scams?

coyrls

Mumum wrote: »

Thank you Coyris. The number they called me from was 02033182459. Are these online sites which require your details invariably scams?

What online sites? How did you find them, what is the URL of the site you used? If you have disclosed personal details on a dodgy Web site, be prepared for a deluge of scam calls, emails etc.

Mumum

Does Citibank (who called me before ‘JP Morgan’) at 2.14% fixed for 1 year or 2.85% for 2 years sound like a scam too then? I was allegedly called by a Thomas Ericson. Thank you.

coyrls

I checked your number and it strongly suggests that it is a scam: https://www.shouldianswer.co.uk/phone-number/02033182459

coyrls

Neither Citibank nor JP Morgan would call you.

coyrls

You haven't said how you found the Website where you entered your details or provided the URL for the Website.