Originally posted by Forbes Young
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Reply to: Business Bank account funds
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Previously on "Business Bank account funds"
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Originally posted by contractorZ View PostMy company ratesetter account is in my company name and linked to the company bank account.
I have a separate ratesetter account for my personal money in my personal name, linked to my personal bank account.
Hope that helps?
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Originally posted by Forbes Young View PostIs the account with Ratesetter in your name or your company name?
I have a separate ratesetter account for my personal money in my personal name, linked to my personal bank account.
Hope that helps?
Leave a comment:
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Originally posted by contractorZ View PostHi,
First time post, I don't work for ratesetter. Not trying to recommend them, just in case anyone is interested in them.
I have had some of my company money on their 30 day market with them since 2011 shortly after they started and not had any problems or lost any money.
In the early days the rates on the 30 day market were better. I just looked back and was getting 3.9% at the start as an example, albeit this still isn't huge.
I must admit I agree with you that I've never been totally comfortable putting company money in Ratesetter given the risk/return so have been careful how much company money I put in there.
It's the only P2P lender I have had company money in, although I do have personal money in others
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Originally posted by TheFaQQer View Post"Our Provision Fund does not provide a guarantee and money is not covered by FSCS."
You're welcome.
A 0.7% gain with the risk that the money might disappear doesn't seem worth the while as far as investing company funds goes. I guess it's no different from only investing what you can afford to lose, though.
Hi,
First time post, I don't work for ratesetter. Not trying to recommend them, just in case anyone is interested in them.
I have had some of my company money on their 30 day market with them since 2011 shortly after they started and not had any problems or lost any money.
In the early days the rates on the 30 day market were better. I just looked back and was getting 3.9% at the start as an example, albeit this still isn't huge.
I must admit I agree with you that I've never been totally comfortable putting company money in Ratesetter given the risk/return so have been careful how much company money I put in there.
It's the only P2P lender I have had company money in, although I do have personal money in others
Leave a comment:
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Originally posted by DigitalUser View Posthttps://www.ratesetter.com/lend/provisionfund
You're welcome.
Note that this is why I prefer RateSetter over Funding Circle (where I expected a high level of default, but overall had a better rate of return). I believe you can use business funds with Zopa, but I've yet to try it outside a small personal investment (~£500).
You're welcome.
A 0.7% gain with the risk that the money might disappear doesn't seem worth the while as far as investing company funds goes. I guess it's no different from only investing what you can afford to lose, though.
Leave a comment:
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Originally posted by DigitalUser View Posthttps://www.ratesetter.com/lend/provisionfund
You're welcome.
Note that this is why I prefer RateSetter over Funding Circle (where I expected a high level of default, but overall had a better rate of return). I believe you can use business funds with Zopa, but I've yet to try it outside a small personal investment (~£500).
Leave a comment:
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Originally posted by TheFaQQer View PostNot sure I'd risk the company money for .7%
I guess it's better than "my" money, but still.
You're welcome.
Note that this is why I prefer RateSetter over Funding Circle (where I expected a high level of default, but overall had a better rate of return). I believe you can use business funds with Zopa, but I've yet to try it outside a small personal investment (~£500).Last edited by DigitalUser; 25 November 2014, 16:05.
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Originally posted by SimonMac View PostYes, by "pull it off" I mean move it from MyCo to Personal ownership through dividends etc.
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Originally posted by Forbes Young View PostYour company cannot set up ISAs (NISAs nowadays - New ISAs) of course but it can make tax allowable contributions into your pension fund.
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Originally posted by DigitalUser View PostI use RateSetter (30 day notice period) for my funds - currently earning 2.2% interest. I experimented with Funding Circle but releasing funds was a nightmare, as was the level of default and the work my accountant had to do at year end to ensure everything lined up. Worth it if you plan on having the funds locked in for a while (and I did earn a decent return on what I put in) but I prefer the simplicity of RateSetter and the stable return I'm getting.
I guess it's better than "my" money, but still.
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I use RateSetter (30 day notice period) for my funds - currently earning 2.2% interest. I experimented with Funding Circle but releasing funds was a nightmare, as was the level of default and the work my accountant had to do at year end to ensure everything lined up. Worth it if you plan on having the funds locked in for a while (and I did earn a decent return on what I put in) but I prefer the simplicity of RateSetter and the stable return I'm getting.
Leave a comment:
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Originally posted by d000hg View PostI had/have a HSBC savings account but it's a bit pointless. You only start earning anything decent after 6-12 months and the moment you withdraw anything that resets. So you can only use it for serious long-term savings.
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I had/have a HSBC savings account but it's a bit pointless. You only start earning anything decent after 6-12 months and the moment you withdraw anything that resets. So you can only use it for serious long-term savings.
Leave a comment:
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