Savingshub/Monedacapital

Vike

Hi Savers. While trying to find a decent interest rate now that they have been cut by the bank of England I came across Savings Hub which I signed up to but instead of being taken to a webpage with options, I was telephoned by an agent later the same day and then emailed a link where one of their accounts offered 4.75% fixed for a year. seemed pretty high comared to others at the moment. Think it's with Castle Brothers Bank which I was assured is covered by FSCS
Has anyone come across this company and how can I check it is a safe place for my savings, please?

Albermarle

You are in the wrong forum.
You should repost your question here.

Savings & investments — MoneySavingExpert Forum

flaneurs_lobster

There's no Castle Brothers Bank registered in the UK, could you mean Close Brothers or perhaps Castle Trust?

The fact that you are not sure suggests to me that perhaps you should take a step back before trusting your money to somewhere that was recommended by a sales rep on the phone.

Vike

Hi Savers. I'm reposting this in the correct forum as advised. While trying to find a decent interest rate now that they have been cut by the bank of England I came across Savings Hub which I signed up to but instead of being taken to a webpage with options, I was telephoned by an agent later the same day and then emailed a link where one of their accounts offered 4.75% fixed for a year. seemed pretty high comared to others at the moment. Think it's with Close Brothers which I was assured is covered by FSCS
Has anyone come across this company and how can I check it is a safe place for my savings, please?

Vike

Thanks I stand corrected It is Close Brothers. I've now reposted my question in the https://forums.moneysavingexpert.com/categories/savings-investments

MSE_ForumTeam5

We've moved the thread and merged the other one

Albermarle said:

You are in the wrong forum.
You should repost your question here.

Savings & investments — MoneySavingExpert Forum

It's generally better if people don't repost in multiple boards - if something's in the wrong place, please ask an Ambassador to move it, or use the 'report' button, and it can be moved to the most appropriate board. It gets messy when replies to the same thing end up in multiple threads

eskbanker

Vike said:

While trying to find a decent interest rate now that they have been cut by the bank of England I came across Savings Hub which I signed up to...

There are a number of institutions offering facilities labelled as 'savings hubs' but I don't see one using that name directly as a trading name, although as with any other use of generic terminology it could be there somewhere - do you have a link or can you advise where to find it?

Edit: I see mention of Moneda Capital in the thread title, who do list savings rates but without clarifying exactly where to find them, hence the phone call presumably?  I seem to recall mention of them on here before but perhaps one or more threads was deleted, maybe after adverse comment about the lack of transparency....

wmb194

Just look at Moneyfacts and open an account directly with a bank/BS. I don't know what you've signed up to but I wouldn't trust people calling me and sending me links.

https://moneyfactscompare.co.uk/savings-accounts/

Albermarle

Using Google I can not find a website/company just called 'Savings Hub'

However the term is used by a few savings providers.

For example AJ Bell operates a 'Cash Savings Hub'

The fact that someone called you is pretty unusual for a mainstream operator, so I have to say my suspicions are raised.

Close Brothers are a well known company. My worry is that the link you have been sent might be fake and that 'Savings Hub' is not all that it seems . When you say you came across them, what exactly do you mean by that ? Not an advert of Facebook by any chance?

I could well be wrong, but better safe than sorry.

masonic

There was a previous thread about this company, but MSE had to take it down: https://forums.moneysavingexpert.com/discussion/6589441/moneda-capital-review

It does not appear to be authorised by the FCA. That should be enough to make a decision. If I say anything further, probably this thread will probably go the way of the last one.

Vike

It appears to have a 5* rating on TrustPilot!