4.5% one year six bond with "Investec", pull the other one!

chris112

Call a few weeks ago from: 
0203 769 9826
from my broker confirming I was still looking for a savings account, which I was a month or so ago and done a bit of googling and I must've entered my phone number on one of the enquiry forms, foolishly

so in the school a few weeks ago I was offered I believe 9% on a one year fixed bond, which is laughable

I reminded him that the current rate is closer to 1.3%, at the time

so this broker has been calling me once every few days to check my interest in open an account for this one year bond and that the rates will soon be changing and he can't guarantee this rate

I even made it clear of the current rates and how out of the ordinary this 9% is (now he can only offer me 4.5% due to the drop, unfortunately)

he emailed me all the classic Investec documents and I was thinking to myself, do people actually buy this rubbish?

or am I the mug that is missing out on a steel 4.5% one-year bond?

I was told they are also covered and protected by the FCSC 😉

chris112

Excuse the typing errors, i used dictation and I have no idea how to edit the post now

eskbanker

chris112 said:

...my broker...

Is this somebody you know and have an existing business relationship with?  What else has he been selling you?

chris112 said:

...in the school a few weeks ago...

Are you a teacher or a pupil?

chris112 said:

I was told they are also covered and protected by the FCSC

And yet another red flag: there is no such thing as FCSC....

ColdIron

Obvious scam is obvious scam shocker

You might want to prepare yourself for more phone calls and emails now they have your contact details

dunstonh

Excuse the typing errors, i used dictation and I have no idea how to edit the post now

edit cog on the header (darker blue) line.

I wonder if they have some old Investec PDFs from when they did structured products and have edited that to make them appear genuine.  Most of the big firms and a number of smaller ones are suffering cloning scams.   

chris112

eskbanker said:

chris112 said:

...my broker...

Is this somebody you know and have an existing business relationship with?  What else has he been selling you?

chris112 said:

...in the school a few weeks ago...

Are you a teacher or a pupil?

these are just typing errors due to the dictation.

it should read:

A broker called me....

so a few weeks ago I was offered....

Brie

scam

https://www.fca.org.uk/news/warnings/investec-plc-investec-asset-management-clone-fca-authorised-firms-and-uk-registered-company

jimjames

I had a similar thing from a company pretending to be Tilney that were selling bonds with high rates claiming to be from Barclays and Treasury bonds. Paperwork all was genuine, the person selling was not

https://damn-lies-and-statistics.blogspot.com/2021/06/tilney-treasury-barclays-bonds-fixed.html

Albermarle

chris112 said:

eskbanker said:

chris112 said:

...my broker...

Is this somebody you know and have an existing business relationship with?  What else has he been selling you?

chris112 said:

...in the school a few weeks ago...

Are you a teacher or a pupil?

these are just typing errors due to the dictation.

it should read:

A broker called me....

so a few weeks ago I was offered....

Maybe next time they call , say you have reported them to the FCA and the Police Fraud line . I guess at least they won't bother you again.

steampowered

A quick google look at Investec's website suggests that they are currently offering 1.36% on a 1-year bond or 2.75% on a 5-year bond, though I suspect there is a hefty minimum amount.

So a rate of 9% sounds rather unlikely ...

canaldumidi

eskbanker said:

chris112 said:

...my broker...

chris112 said:

...in the school a few weeks ago...

Are you a teacher or a pupil?

chris112 said:

I was told they are also covered and protected by the FCSC

..

I know which my money is on and if I'm wong my money's moving towards the private education sector.