Thoughts on Finance, Current Affairs and General Consumer Ripoffs - Damn Lies and Statistics

The name makes it sound safe - just like the precious metal but is the offer of 7% income from Basset & Gold too good to be true? Basset & Gold are advertising on Facebook for savings rates but their adverts are not clear that you can lose money as it is an investment not a guaranteed savings product. Fixed income isn't guaranteed if the underlying investment crashes! Their name has come up before when they advertised Pensioner Bonds that were nothing to do with the National Savings version and were investments that depended on performance of the loan whether you get your money back in full or not. Remember investments are only FSCS protected to £50k in the case of fraud, you can still lose money if the underlying investments fail and income is not guaranteed despite some posts suggesting otherwise. If a company like Basset & Gold suggests that the protection is £50,000 then it is not a savings product but an investment and you can lose money. Only savings are p...

A website advert called Top Savings/ISA Rates is claiming that there are savings accounts paying 8 percent fixed interest. This is blatantly untrue and the accounts they link to are not savings accounts, they are not FSCS protected and your money is at risk - there is the potential that you could lose all your money as any guarantees are worthless when they are unregulated investments and not protected by FSCS. The links provided make many mentions of the word "savings" but no equally prominent warnings about the risks involved. Everything on the advert is implying that the rate is fixed and is a savings account - most people will assume ISA means cash ISA especially when it refers to a rate of 8%, S&S ISAs don't pay a rate as they benefit from investment growth. Top Savings ISA Rates - Up to 8 percent? London Capital Savings ISA Rates - Up to 8 percent? Companies advertising such products include London Capital and Finance and Blackmore Bonds. These ...