DF Capital 1 year fixed savers

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AndrewMiddletonCEng
AndrewMiddletonCEng Posts: 1 Newbie
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in Savings & investments
Has anyone tried the DFC fixed savers? They ask a lot of questions! You can only contact them by email, but they don’t respond! One of my friends has invested with them but now can’t get his money back! 

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  • verybigchris
    verybigchris Posts: 630 Forumite
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    They only launched their savings products within the last couple of days, and they don't offer any instant access accounts, so I'm not surprised your friend can't access their money until the fixed/notice period is up.
  • dunstonh
    dunstonh Posts: 116,384 Forumite
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     One of my friends has invested with them but now can’t get his money back! 

    Fixed term deposits frequently have no early exit option.  Apart from death.  This is no exception.  It says quite clearly in the key information that "No withdrawals, transfers or closures are permitted during the term of the product".

    So, he waits until next year.


    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.
  • Artiedays
    Artiedays Posts: 2 Newbie
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    I am considering investing for 2 years and absolutely understand that this is locked away for the full term, however I can’t find any positive reviews regarding this company!
  • colsten
    colsten Posts: 17,597 Forumite
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    edited 19 October 2020 at 12:58PM
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    Artiedays said:
    I am considering investing for 2 years and absolutely understand that this is locked away for the full term, however I can’t find any positive reviews regarding this company!
    As long as the firm is on the FCA Register (which they are), provide FSCS cover (which do do), and you are transacting through their official website (only you can know whether you do), your savings with DF Capital will be safe up to £85,000. Note they provide savings, not investments.

    You can also get a slightly better rate for 2 years at BLME
  • Artiedays
    Artiedays Posts: 2 Newbie
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    Many thanks Colsten - I have looked at BLME but understand that interest is not guaranteed, the rate is merely an indication of possible return, in addition I don’t know anyone who has invested in this type of account
  • quilvor
    quilvor Posts: 5 Forumite
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    I have also tried contacting DF Capital regarding closing the account and withdrawing deposit WITHIN the 14 day period that DF Capital says you can do in their T&C but NO response!
  • quilvor
    quilvor Posts: 5 Forumite
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    My concern with DF Capital Bank Ltd is that when you send funds to them and your bank does a search on the payee's sort code, account & name it comes back with Distribution Finance Capital Ltd; on searching the FPA details this organisation is NOT protected under the FCSC scheme
  • TBC15
    TBC15 Posts: 1,452 Forumite
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    Artiedays said:
    Many thanks Colsten - I have looked at BLME but understand that interest is not guaranteed, the rate is merely an indication of possible return, in addition I don’t know anyone who has invested in this type of account
    We have 2 products with them,no problem.
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