Mizrahi Tefahot Bank Ltd

miss_curly

I'm a new investor having recently been left some money.

I see Mizrahi Tefahot Bank Ltd mentioned one MSE and via Raisin. I'm not familiar with the bank and wondered if I can really trust that its covered by the FSCS guarantee ?

Does anyone have experience of this bank please and especially if accessed through Raisin?

Looking for reassurance I guess

elsien

https://www.fscs.org.uk/check/check-your-money-is-protected/

Bostonerimus1

miss_curly said:

I'm a new investor having recently been left some money.

I see Mizrahi Tefahot Bank Ltd mentioned one MSE and via Raisin. I'm not familiar with the bank and wondered if I can really trust that its covered by the FSCS guarantee ?

Does anyone have experience of this bank please and especially if accessed through Raisin?

Looking for reassurance I guess

Seriously? why would you even consider this when Halifax etc is around the corner?

subjecttocontract

Bostonerimus1 said:

miss_curly said:

I'm a new investor having recently been left some money.

I see Mizrahi Tefahot Bank Ltd mentioned one MSE and via Raisin. I'm not familiar with the bank and wondered if I can really trust that its covered by the FSCS guarantee ?

Does anyone have experience of this bank please and especially if accessed through Raisin?

Looking for reassurance I guess

Seriously? why would you even consider this when Halifax etc is around the corner?

I would have thought that was obvious....... Halifax are paying a lower interest rate.

Ayr_Rage

It has the full £85,000 FSCS protection, as do all results on moneyfactscompare.co.uk where this screenshot is from

Albermarle

miss_curly said:

I'm a new investor having recently been left some money.

I see Mizrahi Tefahot Bank Ltd mentioned one MSE and via Raisin. I'm not familiar with the bank and wondered if I can really trust that its covered by the FSCS guarantee ?

Does anyone have experience of this bank please and especially if accessed through Raisin?

Looking for reassurance I guess

Just for clarity, when you say’I am a new investor’ most people will think you are looking at stocks and shares etc.
You are a new Saver.

aroominyork

Maybe your question is whether a bank can put an FSCS logo on their marketing materials when they do not actually have FSCS recognition? Fair question. You can use the FSCS checker at https://www.fscs.org.uk/check/check-your-money-is-protected. That shows that Mizrahi Tefahot is covered by FSCS. How your money reaches them - through a Raisin-like platform or directly - makes no difference. 

masonic

aroominyork said:

Maybe your question is whether a bank can put an FSCS logo on their marketing materials when they do not actually have FSCS recognition? Fair question. You can use the FSCS checker at https://www.fscs.org.uk/check/check-your-money-is-protected. That shows that Mizrahi Tefahot is covered by FSCS. How your money reaches them - through a Raisin-like platform or directly - makes no difference. 

There are two cautions with this. Companies are not permitted to display the FSCS logo and say they are protected when they are not, but scam sites often do. How your money reaches the FSCS protected bank doesn't matter, but it matters that it does reach them. So it is important to make sure you use legitimate sources of information and send money only to intermediary institutions that have appropriate FCA authorisation to control client money. The genuine website address of a firm can be found on the FCA register.

subjecttocontract

aroominyork said:

Maybe your question is whether a bank can put an FSCS logo on their marketing materials when they do not actually have FSCS recognition? Fair question. You can use the FSCS checker at https://www.fscs.org.uk/check/check-your-money-is-protected. That shows that Mizrahi Tefahot is covered by FSCS. How your money reaches them - through a Raisin-like platform or directly - makes no difference. 

I think it highly unlikely, probably impossible for a bank to put a false FSCS logo on their marketing materials when being advertised through a platform such as Raisin.

masonic

subjecttocontract said:

aroominyork said:

Maybe your question is whether a bank can put an FSCS logo on their marketing materials when they do not actually have FSCS recognition? Fair question. You can use the FSCS checker at https://www.fscs.org.uk/check/check-your-money-is-protected. That shows that Mizrahi Tefahot is covered by FSCS. How your money reaches them - through a Raisin-like platform or directly - makes no difference. 

I think it highly unlikely, probably impossible for a bank to put a false FSCS logo on their marketing materials when being advertised through a platform such as Raisin.

Agreed, and the same could be said for Moneyfacts, MSE etc, but it wouldn't stop me checking before handing over my money.

Sea_Shell

I've got a few ££££ spread over a handful of accounts with them via Raisin.

No worries at all.

They happened to be the top of the interest chart, at the time I had money to fix.