DF Capital 1 year fixed savers

AndrewMiddletonCEng

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! 

verybigchris

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

 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.

Artiedays

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

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

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

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

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

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.