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  • FIRST POST
    • markbsac
    • By markbsac 13th Mar 18, 4:34 PM
    • 48Posts
    • 16Thanks
    markbsac
    investco
    • #1
    • 13th Mar 18, 4:34 PM
    investco 13th Mar 18 at 4:34 PM
    hi

    i am thinking of investing a large sum of money with investec after reading martins savings advice its a 12 month locked account/investment.;..can anybody reccomend this..they are calling me in the morning to discuss my investment.

    thanks in advance mark
Page 1
    • Superscrooge
    • By Superscrooge 13th Mar 18, 5:16 PM
    • 1,081 Posts
    • 775 Thanks
    Superscrooge
    • #2
    • 13th Mar 18, 5:16 PM
    • #2
    • 13th Mar 18, 5:16 PM
    I'm certain Martin has not advised anyone to invest in investec.

    Looking at their website their charges seem high. They give an example of an annual fee of 2850 on a 200k portfolio
    • ColdIron
    • By ColdIron 13th Mar 18, 5:18 PM
    • 4,271 Posts
    • 5,407 Thanks
    ColdIron
    • #3
    • 13th Mar 18, 5:18 PM
    • #3
    • 13th Mar 18, 5:18 PM
    I've never heard of Investco but Investec do both savings and investments. I think you mean open a fixed term savings account with Investec. They are easy to deal with and have full FSCS protection
    • xylophone
    • By xylophone 13th Mar 18, 5:22 PM
    • 25,599 Posts
    • 15,128 Thanks
    xylophone
    • #4
    • 13th Mar 18, 5:22 PM
    • #4
    • 13th Mar 18, 5:22 PM
    I'm certain Martin has not advised anyone to invest in investec.
    Does the OP mean the one year fix Saving Account @1.9%?

    https://www.moneysavingexpert.com/savings/savings-accounts-best-interest
    under The best one-year fixed rates
    • xylophone
    • By xylophone 13th Mar 18, 5:24 PM
    • 25,599 Posts
    • 15,128 Thanks
    xylophone
    • #5
    • 13th Mar 18, 5:24 PM
    • #5
    • 13th Mar 18, 5:24 PM
    a large sum of money with investec
    FSCS protection only up to 85,000.
    • jimjames
    • By jimjames 13th Mar 18, 5:28 PM
    • 12,653 Posts
    • 11,322 Thanks
    jimjames
    • #6
    • 13th Mar 18, 5:28 PM
    • #6
    • 13th Mar 18, 5:28 PM
    hi

    i am thinking of investing a large sum of money with investec after reading martins savings advice its a 12 month locked account/investment.;..can anybody reccomend this..they are calling me in the morning to discuss my investment.

    thanks in advance mark
    Originally posted by markbsac
    If they are calling you to discuss your investment I'd get prepared to run a mile. Before you do anything make sure you know EXACTLY what you are putting money into and who you are dealing with as the names here don't match. I find it hard to believe a bank would call you to discuss investment unless it's actually an appointment with full advice
    Remember the saying: if it looks too good to be true it almost certainly is.
    • markbsac
    • By markbsac 13th Mar 18, 5:34 PM
    • 48 Posts
    • 16 Thanks
    markbsac
    • #7
    • 13th Mar 18, 5:34 PM
    • #7
    • 13th Mar 18, 5:34 PM
    it is investec its a 12 months locked account at 1.9%
    • markbsac
    • By markbsac 13th Mar 18, 5:36 PM
    • 48 Posts
    • 16 Thanks
    markbsac
    • #8
    • 13th Mar 18, 5:36 PM
    • #8
    • 13th Mar 18, 5:36 PM
    I'm certain Martin has not advised anyone to invest in investec.

    Looking at their website their charges seem high. They give an example of an annual fee of 2850 on a 200k portfolio
    Originally posted by Superscrooge

    no martin has not but its one if the ones he has put on his site as an option
    • markbsac
    • By markbsac 13th Mar 18, 5:37 PM
    • 48 Posts
    • 16 Thanks
    markbsac
    • #9
    • 13th Mar 18, 5:37 PM
    • #9
    • 13th Mar 18, 5:37 PM
    Does the OP mean the one year fix Saving Account @1.9%?

    https://www.moneysavingexpert.com/savings/savings-accounts-best-interest
    under The best one-year fixed rates
    Originally posted by xylophone
    yes thats the one
    • markbsac
    • By markbsac 13th Mar 18, 5:39 PM
    • 48 Posts
    • 16 Thanks
    markbsac
    If they are calling you to discuss your investment I'd get prepared to run a mile. Before you do anything make sure you know EXACTLY what you are putting money into and who you are dealing with as the names here don't match. I find it hard to believe a bank would call you to discuss investment unless it's actually an appointment with full advice
    Originally posted by jimjames
    i contacted them in the first instance not the other way around after reading about them on martins savings bit on his site
    • markbsac
    • By markbsac 13th Mar 18, 5:41 PM
    • 48 Posts
    • 16 Thanks
    markbsac
    FSCS protection only up to 85,000.
    Originally posted by xylophone

    not far off that amount
    • coyrls
    • By coyrls 13th Mar 18, 5:42 PM
    • 992 Posts
    • 1,043 Thanks
    coyrls
    Are you sure you have contacted the right company? If you are saving (not investing) in a one year fixed rate account, there should be nothing to discuss. The one year fixed rate account is provided by Investec not Investco.
    • Superscrooge
    • By Superscrooge 13th Mar 18, 5:44 PM
    • 1,081 Posts
    • 775 Thanks
    Superscrooge
    As you used the term 'investing' rather than 'saving' I was assuming in my earlier post you were looking at investing via their wealth management service which appears expensive.

    If you are looking at saving in their one year fixed rate account, then that is fine. They have full FSCS protection up to 85,000
    • markbsac
    • By markbsac 13th Mar 18, 5:58 PM
    • 48 Posts
    • 16 Thanks
    markbsac
    thank you everybody my interest rate with Halifax is pitiful, this at 1.9% which i can afford to leave it for a year is a lot better return :-)
    Last edited by markbsac; 13-03-2018 at 6:04 PM.
    • capital0ne
    • By capital0ne 13th Mar 18, 6:29 PM
    • 524 Posts
    • 254 Thanks
    capital0ne
    thank you everybody my interest rate with Halifax is pitiful, this at 1.9% which i can afford to leave it for a year is a lot better return :-)
    Originally posted by markbsac
    Well I guess it helps against the 3% loss it's making right now!
    • forextc
    • By forextc 13th Mar 18, 9:55 PM
    • 62 Posts
    • 23 Thanks
    forextc
    The Investec fixed rate product is absolutely fine. They have the FSC 85,000 guarantee so what's not to like if you want to fix for a year? Disclosure - I have funds deposited in this account.
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