Fluid ISA Bond
in ISAs & tax-free savings
17 replies 932 views
Hi, I posted about Fluid ISA Ltd a while back. My partner took out a 3 year Fixed Term Fluid ISA Bond with them on 13 November 2018. My partner has finally got through to them on the phone, only to be told the Bond money cannot be payed back until March! Surely it should be paid back on 13 November 2021? I’ve emailed them for an explanation, but I don’t trust them one bit. Does anyone have knowledge of Bonds and maturity dates?? 😳
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There many bondholders of failed firms/scams who never get paid at all .
The fact they are still communicating with you is a good sign, and as eskbanker says keep your fingers crossed for a March payout .
In the meantime no harm to ask them for an explanation for the proposed late payment.
Is it this one? Not a good sign if so. Hopefully your one is the genuine company.
Although the real websites shown on FCA warning are both down too
The website is currently down for maintenance.
The Fluid ISA login page is still working, does that show any information?
That page also has this risk warning:
Your capital is at risk and interest payments are not guaranteed. Investment via Fluid is not covered by the Financial Services Compensation Scheme (FSCS). In the event of default or if Fluid becomes insolvent, you may lose some or all of your investment, including interest payments due.
The compartmentalised nature of the group means that separate investments into subsidiaries can be ringfenced ... protecting any weaknesses and ensuring rewards are only shared with the relevant investors.
This would suggest that the structure is deliberate to allow the companies to go bust once profits taken and avoid the holding company being impacted
Fluid ISA Bond 1 has shareholder assets of £200k
Fluid ISA Bond 2 has negative shareholder assets of -£40k
Fluid ISA Bond 3 has been dissolved