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Savings and Investments thread
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It's a good point. I'd also prefer it if there was a separate premium bonds thread, but understand that will be a faff.Siv_in_Norfolk said:Is it just me that thinks everyone needs to post how much they are holding in premium bonds to make the monthly reports of payouts make sense?
I enjoy seeing the posts....but... it doesn't make any meaningful sense without knowing the context of how much is held.... right?0 -
£125 in premium bonds but a good week on the stock market, though I have halved my stocks and share investing in the past couple of years1
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£25 for me, £225 for MrsR7L and nowt for father in law 😂1
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After decent returns in 2023 it has been a very slow start to 2024 for me, with a return of only £275 for the first three months on a full holding.0
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I can't believe your father in law hasn't won after all these months of non stop wins. Surely he should demand a redraw!😀Rob7Lee said:£25 for me, £225 for MrsR7L and nowt for father in law 😂2 -
£50
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He's not impressed! I think it's only the second time in approaching 5 years where he hasn't't won.Fortune 82nd Minute said:
I can't believe your father in law hasn't won after all these months of non stop wins. Surely he should demand a redraw!😀Rob7Lee said:£25 for me, £225 for MrsR7L and nowt for father in law 😂1 -
Nothing from PB but over 1k up pure profit from Crypto. All profit sold this morning3
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That's my story too, although even more extreme. I have a holding of £42.6k , and saw a 4.4% return last year. Winnings so far this year? £50.superclive98 said:After decent returns in 2023 it has been a very slow start to 2024 for me, with a return of only £275 for the first three months on a full holding.
As it happens a one year fixed interest bond with them has just matured. I'm taking the cash elsewhere. That'll learn 'em
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PragueAddick said:
That's my story too, although even more extreme. I have a holding of £42.6k , and saw a 4.4% return last year. Winnings so far this year? £50.superclive98 said:After decent returns in 2023 it has been a very slow start to 2024 for me, with a return of only £275 for the first three months on a full holding.
As it happens a one year fixed interest bond with them has just matured. I'm taking the cash elsewhere. That'll learn 'em
While you're figuring out what do do with the funds - e.g. another fix, then Ulster Bank have instant access at 5.2% which is about the best around.
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These are pretty competitive rates for 1, 2 and 3 year fixes, Richard. Highly respected financial institution as well - they have chunks of my cash on fixes.
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£150 for me £50 for 'Er Indoors. Neither of us are anywhere near the full permitted holding.0
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Yes its going in an Investec one year, not least as I already have a chunk with them so I don’t have to go through the tiresome “know your customer” charade. But they only have a 7 day window and NS&I like to think about it before releas8ng your money, so I hadn’t set it up yet. Was nervously checking their rate in the last month. 5.15% is decent especially as it is replacing 3.9%. I expect this will be the last maturing bond where the replacement has a higher rate. Well of course it wasnt going to last but it looks like two full years of solid no-risk returns from cash. Just what us old gits need.bobmunro said:These are pretty competitive rates for 1, 2 and 3 year fixes, Richard. Highly respected financial institution as well - they have chunks of my cash on fixes.0 -
Zilch for me, £25 for the missus. Lowest combined return so far.0
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£250. Wife. £25 me lowest for a long time0
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£150 for me (£100 & a £50). That’s £625 for the first quarter on a full holding. Averaging £200 per month over the last 7 draws.2
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I'd been watching and listening to people chat and chat about the virtues and risks of it so treated it as I would casino money.BalladMan said:Carter said:Nothing from PB but over 1k up pure profit from Crypto. All profit sold this morning
This is the key to crypto. Take profit and not get greedy.
Spent what I could afford to lose which was not a lot, it stubbornly went south so I stopped putting more in, only split between Bitcoin and Ethereum. Saw the joy at the prices rocketing last week, checked my account, was fir one pleasantly surprised so cashed out with a lovely profit. Now got some sat so I can buy stuff with crypto when I need to.1 -
Atom do 5.25% for a 1 year.PragueAddick said:
Yes its going in an Investec one year, not least as I already have a chunk with them so I don’t have to go through the tiresome “know your customer” charade. But they only have a 7 day window and NS&I like to think about it before releas8ng your money, so I hadn’t set it up yet. Was nervously checking their rate in the last month. 5.15% is decent especially as it is replacing 3.9%. I expect this will be the last maturing bond where the replacement has a higher rate. Well of course it wasnt going to last but it looks like two full years of solid no-risk returns from cash. Just what us old gits need.bobmunro said:These are pretty competitive rates for 1, 2 and 3 year fixes, Richard. Highly respected financial institution as well - they have chunks of my cash on fixes.0 - Sponsored links:
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https://www.bloomberg.com/news/articles/2024-03-01/jeremy-hunt-turns-to-retail-investors-to-save-the-uk-market?accessToken=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJzb3VyY2UiOiJTdWJzY3JpYmVyR2lmdGVkQXJ0aWNsZSIsImlhdCI6MTcwOTI4MjY2NSwiZXhwIjoxNzA5ODg3NDY1LCJhcnRpY2xlSWQiOiJTOFVSUzFUMEFGQjQwMCIsImJjb25uZWN0SWQiOiJCRjI5Nzg2NUNFREI0M0Q0OUI0NjdBQjIzN0MyQTZFMyJ9.FvPhEwNY5Py5vqv2diIV0eVVP_5psx-HG0XHK_M_OSs
Could be some big changes to ISAs in the budget.
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I hold 22k in premium Bonds.Siv_in_Norfolk said:Is it just me that thinks everyone needs to post how much they are holding in premium bonds to make the monthly reports of payouts make sense?
I enjoy seeing the posts....but... it doesn't make any meaningful sense without knowing the context of how much is held.... right?
Last year they returned £1,175.
Over 5% so happy with that.
This year
Jan, £50
Feb £25
March £ 150
Reasonable returns I'd say.3 -
Why do you refer to it as a charade?PragueAddick said:
Yes its going in an Investec one year, not least as I already have a chunk with them so I don’t have to go through the tiresome “know your customer” charade. But they only have a 7 day window and NS&I like to think about it before releas8ng your money, so I hadn’t set it up yet. Was nervously checking their rate in the last month. 5.15% is decent especially as it is replacing 3.9%. I expect this will be the last maturing bond where the replacement has a higher rate. Well of course it wasnt going to last but it looks like two full years of solid no-risk returns from cash. Just what us old gits need.bobmunro said:These are pretty competitive rates for 1, 2 and 3 year fixes, Richard. Highly respected financial institution as well - they have chunks of my cash on fixes.0 -
Having worked on the technical side of KYC systems, I can confirm it is a charade.valleynick66 said:
Why do you refer to it as a charade?PragueAddick said:
Yes its going in an Investec one year, not least as I already have a chunk with them so I don’t have to go through the tiresome “know your customer” charade. But they only have a 7 day window and NS&I like to think about it before releas8ng your money, so I hadn’t set it up yet. Was nervously checking their rate in the last month. 5.15% is decent especially as it is replacing 3.9%. I expect this will be the last maturing bond where the replacement has a higher rate. Well of course it wasnt going to last but it looks like two full years of solid no-risk returns from cash. Just what us old gits need.bobmunro said:These are pretty competitive rates for 1, 2 and 3 year fixes, Richard. Highly respected financial institution as well - they have chunks of my cash on fixes.One example, peps and sanctions checks. 3 companies I have worked in all they do is a fuzzy search comparing first and last name against a list of politically exposed or sanctioned person. This is the extent of the check. If you match, some further evidence / checks required, if no match, carry on regardless. Bad news if your name is Vladimir Putin, ok for everyone else.The checks are so basic (when being executed at volume) that they are laughable when compared to most modern technology. They should at least take other factors into account (DOB, residential address are two basic examples).1 -
Not my experience working in financial services at all.BalladMan said:
Having worked on the technical side of KYC systems, I can confirm it is a charade.valleynick66 said:
Why do you refer to it as a charade?PragueAddick said:
Yes its going in an Investec one year, not least as I already have a chunk with them so I don’t have to go through the tiresome “know your customer” charade. But they only have a 7 day window and NS&I like to think about it before releas8ng your money, so I hadn’t set it up yet. Was nervously checking their rate in the last month. 5.15% is decent especially as it is replacing 3.9%. I expect this will be the last maturing bond where the replacement has a higher rate. Well of course it wasnt going to last but it looks like two full years of solid no-risk returns from cash. Just what us old gits need.bobmunro said:These are pretty competitive rates for 1, 2 and 3 year fixes, Richard. Highly respected financial institution as well - they have chunks of my cash on fixes.One example, peps and sanctions checks. 3 companies I have worked in all they do is a fuzzy search comparing first and last name against a list of politically exposed or sanctioned person. This is the extent of the check. If you match, some further evidence / checks required, if no match, carry on regardless. Bad news if your name is Vladimir Putin, ok for everyone else.The checks are so basic (when being executed at volume) that they are laughable when compared to most modern technology. They should at least take other factors into account (DOB, residential address are two basic examples).The checks are extensive and do include multiple factors.1 -
golfaddick said:
They can't afford me.Covered End said:
They tried to headhunt me as well quite some years ago. I also declined.WishIdStayedinthePub said:Good to see those con merchants and thieves at St James Place are getting a good kicking. I turned down their very kind offer to employ me due to their inability (unwillingness) to answer a simple question: what is the return on your funds, AFTER fees and how do they rank?
Really, really wanted to short them after that but needed deep pockets and patience. I understand they have the entire ambulance chasing PPI crowd on their back now.
Is that because the fees you charge your customers are so high? 😉0 -
You're far too well qualified, Golfie.golfaddick said:
They can't afford me.Covered End said:
They tried to headhunt me as well quite some years ago. I also declined.WishIdStayedinthePub said:Good to see those con merchants and thieves at St James Place are getting a good kicking. I turned down their very kind offer to employ me due to their inability (unwillingness) to answer a simple question: what is the return on your funds, AFTER fees and how do they rank?
Really, really wanted to short them after that but needed deep pockets and patience. I understand they have the entire ambulance chasing PPI crowd on their back now.
The only link I could figure out between the 6 of us in the room was that they either came from rich families or, like me, had worked in industries where they were likely to know rich people. The less you understood about the financial services industry and investments the better.
I was told that my question was 'very technical' and should anyone ever be asked such a question, to refer them to the Technical Department. This turned out to be two blokes, highly skilled in the arts of prevarication, procrastination and obfuscation; until you go away.2 -
What checks do you believe Investec or any similar company do with the info supplied to them by a new customer wishing to open a 1 year fixed cash bond? As I recall it included me having to use some creaky software to upload both sides of my driving licence.valleynick66 said:
Not my experience working in financial services at all.BalladMan said:
Having worked on the technical side of KYC systems, I can confirm it is a charade.valleynick66 said:
Why do you refer to it as a charade?PragueAddick said:
Yes its going in an Investec one year, not least as I already have a chunk with them so I don’t have to go through the tiresome “know your customer” charade. But they only have a 7 day window and NS&I like to think about it before releas8ng your money, so I hadn’t set it up yet. Was nervously checking their rate in the last month. 5.15% is decent especially as it is replacing 3.9%. I expect this will be the last maturing bond where the replacement has a higher rate. Well of course it wasnt going to last but it looks like two full years of solid no-risk returns from cash. Just what us old gits need.bobmunro said:These are pretty competitive rates for 1, 2 and 3 year fixes, Richard. Highly respected financial institution as well - they have chunks of my cash on fixes.One example, peps and sanctions checks. 3 companies I have worked in all they do is a fuzzy search comparing first and last name against a list of politically exposed or sanctioned person. This is the extent of the check. If you match, some further evidence / checks required, if no match, carry on regardless. Bad news if your name is Vladimir Putin, ok for everyone else.The checks are so basic (when being executed at volume) that they are laughable when compared to most modern technology. They should at least take other factors into account (DOB, residential address are two basic examples).The checks are extensive and do include multiple factors.
My issue is that if I were some byznysman from Tashkent or somewhere similar requiring discreet personal banking services from some London based bank, I don't think i would be subjected to that, because the monthly fee I would be paying for this discretion (completely off the table for us normal citizens) would magically obviate the need for such trivia. Would it not?
The authoritative stories that London remains the banking location of choice for dodgy money despite all the rhetoric, and while ordinary citizens have to upload most of their regular utility bills just to open a current account, really piss me off.1 -
Nonsense.PragueAddick said:
What checks do you believe Investec or any similar company do with the info supplied to them by a new customer wishing to open a 1 year fixed cash bond? As I recall it included me having to use some creaky software to upload both sides of my driving licence.valleynick66 said:
Not my experience working in financial services at all.BalladMan said:
Having worked on the technical side of KYC systems, I can confirm it is a charade.valleynick66 said:
Why do you refer to it as a charade?PragueAddick said:
Yes its going in an Investec one year, not least as I already have a chunk with them so I don’t have to go through the tiresome “know your customer” charade. But they only have a 7 day window and NS&I like to think about it before releas8ng your money, so I hadn’t set it up yet. Was nervously checking their rate in the last month. 5.15% is decent especially as it is replacing 3.9%. I expect this will be the last maturing bond where the replacement has a higher rate. Well of course it wasnt going to last but it looks like two full years of solid no-risk returns from cash. Just what us old gits need.bobmunro said:These are pretty competitive rates for 1, 2 and 3 year fixes, Richard. Highly respected financial institution as well - they have chunks of my cash on fixes.One example, peps and sanctions checks. 3 companies I have worked in all they do is a fuzzy search comparing first and last name against a list of politically exposed or sanctioned person. This is the extent of the check. If you match, some further evidence / checks required, if no match, carry on regardless. Bad news if your name is Vladimir Putin, ok for everyone else.The checks are so basic (when being executed at volume) that they are laughable when compared to most modern technology. They should at least take other factors into account (DOB, residential address are two basic examples).The checks are extensive and do include multiple factors.
My issue is that if I were some byznysman from Tashkent or somewhere similar requiring discreet personal banking services from some London based bank, I don't think i would be subjected to that, because the monthly fee I would be paying for this discretion (completely off the table for us normal citizens) would magically obviate the need for such trivia. Would it not?
The authoritative stories that London remains the banking location of choice for dodgy money despite all the rhetoric, and while ordinary citizens have to upload most of their regular utility bills just to open a current account, really piss me off.All UK regulated banks will do the required KYC. The fee you pay won’t change that.Why is it a charade to provide proof of identity and verification?
Money laundering is very real and nasty individuals need to be stopped / prohibited. Of course people may have escaped detection but that’s not the point. Real criminals (not all) are able to be identified and caught.If anything the bigger the client / the more money involved will heighten the due diligence performed.For the more run of the mill retail customers it is relatively light touch to be aligned to the level of risk.1 -
Of course. Nothing to see here Clearly it's all my fault for reading lefty rags like ..er.. the Economistvalleynick66 said:
Nonsense.PragueAddick said:
What checks do you believe Investec or any similar company do with the info supplied to them by a new customer wishing to open a 1 year fixed cash bond? As I recall it included me having to use some creaky software to upload both sides of my driving licence.valleynick66 said:
Not my experience working in financial services at all.BalladMan said:
Having worked on the technical side of KYC systems, I can confirm it is a charade.valleynick66 said:
Why do you refer to it as a charade?PragueAddick said:
Yes its going in an Investec one year, not least as I already have a chunk with them so I don’t have to go through the tiresome “know your customer” charade. But they only have a 7 day window and NS&I like to think about it before releas8ng your money, so I hadn’t set it up yet. Was nervously checking their rate in the last month. 5.15% is decent especially as it is replacing 3.9%. I expect this will be the last maturing bond where the replacement has a higher rate. Well of course it wasnt going to last but it looks like two full years of solid no-risk returns from cash. Just what us old gits need.bobmunro said:These are pretty competitive rates for 1, 2 and 3 year fixes, Richard. Highly respected financial institution as well - they have chunks of my cash on fixes.One example, peps and sanctions checks. 3 companies I have worked in all they do is a fuzzy search comparing first and last name against a list of politically exposed or sanctioned person. This is the extent of the check. If you match, some further evidence / checks required, if no match, carry on regardless. Bad news if your name is Vladimir Putin, ok for everyone else.The checks are so basic (when being executed at volume) that they are laughable when compared to most modern technology. They should at least take other factors into account (DOB, residential address are two basic examples).The checks are extensive and do include multiple factors.
My issue is that if I were some byznysman from Tashkent or somewhere similar requiring discreet personal banking services from some London based bank, I don't think i would be subjected to that, because the monthly fee I would be paying for this discretion (completely off the table for us normal citizens) would magically obviate the need for such trivia. Would it not?
The authoritative stories that London remains the banking location of choice for dodgy money despite all the rhetoric, and while ordinary citizens have to upload most of their regular utility bills just to open a current account, really piss me off.All UK regulated banks will do the required KYC. The fee you pay won’t change that.Why is it a charade to provide proof of identity and verification?
Money laundering is very real and nasty individuals need to be stopped / prohibited. Of course people may have escaped detection but that’s not the point. Real criminals (not all) are able to be identified and caught.If anything the bigger the client / the more money involved will heighten the due diligence performed.For the more run of the mill retail customers it is relatively light touch to be aligned to the level of risk.
Why is London so attractive to tainted foreign money?
The article does not say the banks are the biggest problem (it's the law, both lawyers and credulous judges) but the banks are cited and quite obviously the due diligence is completely inadequate.
I'll give you another reason for my cynicism at a more mundane personal level. I'm with HSBC, have been since they were the Midland Bank. Admittedly now they have made their banking app work reasonably well, they have stopped the following charade, but up until about two years ago, if I moved a couple of chunks of money out of my current account, say 2x £10k, in one day, I could almost guarantee that my mobile would ring, and there was a bloke grandly announcing himself as from the fraud department. Then he would tell me we would need to go through some security ID questions which I thought a tad presumptuous, when he was calling me rather than the other way round. And then I would have to somehow assure him that yes, I made those transactions, and they are according to my wishes. And then I would say to myself, OK, it's a bit clumsy but they are doing it for my own good. Until one day after the umpteenth time, a thought occurred to me: They only ever call about an outgoing transaction. In nearly all cases the money had only recently come in - I don't keep 20k plus in a current account. Yet never, not once, did they call me to enquire about an incoming transaction. I suppose it would be a difficult call, because they'd have to ask a customer about the source of this money; but my point is, they could see this money coming in only recently so why should they be remotely surprised, let alone concerned, when it moves out again a few days or weeks later? That is also why I used the word "charade".
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