Moneda Capital Review

jimjames

There is a company called Moneda Capital advertising heavily on social media. Likely to be quite confusing for anyone viewing the adverts as they're posted alongside long standing investment companies such as Investec. Some people say that any investment on social media is a scam but that's clearly not the case when Investec and ii are both advertising. I thought there was a previous thread about Moneda Capital that isn't searchable on here but it's worth flagging up the risks to anyone who is considering entrusting their money to them.

I'm not sure what sort of outfit they are but their website seems to be hiding their company details so they aren't visible on their homepage. The requirement is to display the Company Info "prominently" so I don't think hiding this on their privacy policy follows the spirit of these rules even if it technically complies. There are 3 different companies with the name Moneda listed on Companies House ranging from being created in 2021 to 2024 and 2025. If it's Moneda Capital PLC that's advertising then their accounts state that they are a strategic real estate business. There is no mention of offering retail deposit products and they only started in 2021.

Again if it is Moneda Capital PLC their accounts are noted as having "material uncertainty" casting doubt on their ability to continue as a going concern. Not a great sign for a long term platform to hand money to.

The biggest red flag to me is that you can't see or apply for anything online unless you sign a disclaimer that you are a High Net Worth or Sophisticated investor. There is absolutely no reason why anyone applying for a FSCS savings account needs to do this and would suggest that the contact details will be used to persuade you to invest rather than using savings. The rates offered are not outrageously higher than the market leading ones but sufficient to raise concerns that these are not UK FSCS protected deposits. I find it hard to believe that a market leading savings proposition can be made with personal contact with every investor and no online application, the margins just don't make that a viable option in my view.

The Moneda Capital advert - offering 4.9%


This is Investec advert offering 4.84%



The disclaimer you need to complete if you click on the Moneda advert - this isn't a requirement for savings products so what are they offering?



The website has the following disclaimers:

Investments through Moneda Capital are subject to inherent risks, including potential capital loss. Savings and Deposit accounts offered on our platform are protected under the Financial Services Compensation Scheme (FSCS). Savings and Deposits accounts are powered by our partners. It is important to note that none of the investment products offered by Moneda Capital are covered by the Financial Services Compensation Scheme (FSCS).

Eyeful

 1. Don't pay attention to adds for savings or investments that appear on social media sites.

2. Find the Firms Reference Number (FRN), of any company you will be dealing with, by looking them up on the FCA register. This will also provide you with the correct verified contact details that you should use.
https://register.fca.org.uk/s/
 
3. To check you wil have FSCS protection, use their protection checker:
https://www.fscs.org.uk/check/

4. Remember
The savings protection up to £85k, only applies to BankS, Building Societies & Credit Unions that appear on this FSCS register.

masonic

There was a previous thread on Moneda, but it's been hidden by the forum team. I guess they received a complaint because we weren't nice enough.

From what I recall, they are not FCA authorised and claim to be an intermediary for an undisclosed FCA authorised deposit taker. However, without actually signing up there is no way to verify this is the case, and so it is best to [REDACTED]

On their website they differentiate between the investment section, which is HNW and sophisticated only, and their savings page, which is open to all with example fixed rates of between 4.45-4.85%. Not exactly too good to be true, but also achievable through products where the provider is disclosed.

jimjames

masonic said:

On their website they differentiate between the investment section, which is HNW and sophisticated only, and their savings page, which is open to all with example fixed rates of between 4.45-4.85%. Not exactly too good to be true, but also achievable through products where the provider is disclosed.

Unfortunately with their online advert there is no way to do anything without the HNW page and even on the website there is no way to find the actual savings deals without sign up and to do that you have to submit all your information. I strongly suspect that the reason they want contact details and to schedule calls with potential customers is to encourage them to use investments not the promoted savings rates. 

I see your post has already been redacted. 

penners324

Flagstone IM offer a similar product I believe yet actually state prior to sign up which banks are available on their platform 

Eyeful

1. I always take it as an immediate RED FLAG, when an advert that wants my money,
(a) needs me to contact them before getting the information I need to check out their product. 
(b) makes it hard to find information required to check out their product.

2. With savings & investments my rule is to,
 Only deal with companies that allow me to easily check out & verify important information claimed in their adverts. 

jimjames

penners324 said:

Flagstone IM offer a similar product I believe yet actually state prior to sign up which banks are available on their platform 

Big different right there: Flagstone Group Ltd is authorised by the Financial Conduct Authority

masonic

jimjames said:

I see your post has already been redacted. 

That was my attempt at humour

LHW99

Which one of these? (or another)

https://find-and-update.company-information.service.gov.uk/search?q=moneda+capital

masonic

LHW99 said:

Which one of these? (or another)

https://find-and-update.company-information.service.gov.uk/search?q=moneda+capital

Was discussed in the previous thread that they do not identify the specific company on their website or adverts, but their website contains the following link: https://www.monedacapitalgroup.com/assets/frontend/images/entitlement-borrow-certificate.pdf

Of course one can never be sure when dealing with an unregulated firm that they are who they claim to be.

jimjames

LHW99 said:

Which one of these? (or another)

https://find-and-update.company-information.service.gov.uk/search?q=moneda+capital

It's very well hidden which is another warning to consider but on their terms and conditions it shows this

Moneda Capital, a private company, limited by shares, registered in England under the Company Number 13764754

So appears to be Moneda Capital PLC

https://www.monedacapitalgroup.com/terms-and-conditions