Cash by Robin Bone https://padlet.com/robinuon/pjjz34wzzyt0 Lovely! en-us 2017-09-29 13:42:44 UTC 2023-03-29 18:01:53 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Carfront.png Cash robinuon https://padlet.com/robinuon/pjjz34wzzyt0/wish/287808522 2018-10-01 18:35:27 UTC https://padlet.com/robinuon/pjjz34wzzyt0/wish/287808522 Shades of awesomeness robinuon https://padlet.com/robinuon/pjjz34wzzyt0/wish/391265680 2019-09-30 11:41:09 UTC https://padlet.com/robinuon/pjjz34wzzyt0/wish/391265680 1. Instructions robinuon https://padlet.com/robinuon/pjjz34wzzyt0/wish/792007768 Please read carefully.]]> 2020-09-30 16:25:00 UTC https://padlet.com/robinuon/pjjz34wzzyt0/wish/792007768 2. Your allocated questions. robinuon https://padlet.com/robinuon/pjjz34wzzyt0/wish/792033513 Please find your name to see your question.]]> 2020-09-30 16:30:57 UTC https://padlet.com/robinuon/pjjz34wzzyt0/wish/792033513 3. Cash questions robinuon https://padlet.com/robinuon/pjjz34wzzyt0/wish/792036918 Find your question and answer on Padlet.]]> 2020-09-30 16:31:46 UTC https://padlet.com/robinuon/pjjz34wzzyt0/wish/792036918 Raluca Holczberger -17449359 ralub14 https://padlet.com/robinuon/pjjz34wzzyt0/wish/793930884 Question 12 & 13]]> 2020-10-01 08:35:03 UTC https://padlet.com/robinuon/pjjz34wzzyt0/wish/793930884 IYANU QUESTION 4 https://padlet.com/robinuon/pjjz34wzzyt0/wish/798047103 1. A Basic Saving Account AKA Passbook Savings Account- Generally funds of up to £250,000 can be deposited in a BSA and are insured by the Federal Deposit Insurance Company, making this a good choice for investors who want a very low-risk and easy-to-access savings account.
2.Money Market Savings Accounts-MMSA suit customers who want a higher interest rate than a basic bank account, and are willing to keep a larger balance in their account. They are suitable for investors with savings goals with target dates ranging from a few months to a few years away.
3.Certificate of Deposit Account-  CDs are a good savings account option for individuals saving for a goal with a target date in mind. Generally, available through most financial institutions. Also, the longer the term of the CD, the higher the interest rate paid.]]> 2020-10-02 15:31:51 UTC https://padlet.com/robinuon/pjjz34wzzyt0/wish/798047103 Daniel(19423594) danielnikolov19_1 https://padlet.com/robinuon/pjjz34wzzyt0/wish/798744538 Question 8-
An ISA is tax free savings and investment account in which you can hold up to 20 000 pounds in a financial year (april to april)
Question 9-
Everyone that is resident in the UK, over age of 16 can open a cash ISA and for and investment and financial ISA you need to be 18 years old.To be noted! YOU CANNOT HAVE AN ISA WITH SOMEBODY ELSE OR OPEN IT IN THEIR BEHALF!]]> 2020-10-02 18:26:01 UTC https://padlet.com/robinuon/pjjz34wzzyt0/wish/798744538 Elaine Elaine228 https://padlet.com/robinuon/pjjz34wzzyt0/wish/799787298 Q6 & Q7]]> 2020-10-03 14:50:44 UTC https://padlet.com/robinuon/pjjz34wzzyt0/wish/799787298 Angel https://padlet.com/robinuon/pjjz34wzzyt0/wish/799790691 11) 
 FSCS (Financial Services Compensation Scheme) is referred to as a ‘last resort’ for customers when something goes wrong, 
If a financial services company is authorised by the FCA or the PRA and stops trading/goes bust the FSCS can compensate customers.
The compensation scheme is free individuals and the FSCS provides different levels of compensation depending on the type of investment involved. There is a compensation limit of £85,000 The FSCS protects the following investments:

  • Insurance policies 
  • Deposits
  • Insurance broking 
  • Investment business
  • Mortgage advice and arranging 

The FSCS may be able to compensate you in other circumstances if the following conditions apply:

  • You were a customer of a company or individual authorised by the FCA
  • The company or individual has gone out of business
  • You have lost money as a result

]]> 2020-10-03 14:54:58 UTC https://padlet.com/robinuon/pjjz34wzzyt0/wish/799790691 Question 5 (Tunajina) https://padlet.com/robinuon/pjjz34wzzyt0/wish/801197917 Q5. Give me some real examples of savings accounts, instant access & term deposit and rates?

A savings account is an account for individuals to put money in and earn interest. There are different types of savings accounts, such as instant access accounts, notice accounts, fixed-rate accounts.

Instant Access Accounts -

The term ‘instant access’ can only be associated with accounts where the client can get their hands on their cash immediately and without penalty, e.g. using a cash card. Instant access accounts typically offer low, variable interest rates as the client is able to access their cash immediately and without any restriction. The more remote the money is, meaning the money is only accessible online, by telephone or by post rather than in-branch, the higher the interest rate is likely to be. This is due to the fact that the bank or building society can make use of the client’s money for a longer period of time.

Currently, the top paying account is Coventry BS which offers 1.05%. The term deposit is between £1-£250,000.

Notice Accounts -

Notice accounts work in a different way to instant access accounts. Instead of having instant access to your money when it suits you, saving in a notice account means you’ll have to tell your provider in advance that you want to make a withdrawal. Some notice accounts demand that you let them know you intend to withdraw money 30, 60 or 90 days ahead.  These accounts are unlikely to suit you if you may need to get at your savings unexpectedly.  If you do make an emergency withdrawal from a notice account, you’re likely to lose some interest.

At the moment, there’s not a lot of choice when it comes to decent notice accounts. The best notice account I could find was Secure Trust Bank which offers 1.1%. The term deposit is between £1,000-£1m.

Fixed-Rate Accounts -

A fixed-rate account is a savings account where the amount you earn is set over a fixed time period. Fixed-rate accounts can extend over a 1-5 year period. Usually, the longer you’re prepared to lock your cash away for, the higher your return will be.

Right now, the top standard one-year fix is from Atom Bank at 1.18%. The term deposit is between £50-£100,000.]]> 2020-10-04 20:18:39 UTC https://padlet.com/robinuon/pjjz34wzzyt0/wish/801197917 question 1 and 2 - Banke https://padlet.com/robinuon/pjjz34wzzyt0/wish/802311097 1. cash is tangible money that is used for buying and selling. this can be withdrawn from a bank, this is via banknotes and and coins. 
2. people deposit money to the bank for many reason. one for which maybe for saving and gaining interest on the money that they have in the bank. another reason is that bank use customer money to borrow and lend. deposited money is used to loan to people and the bank gets interest.

]]> 2020-10-05 08:35:44 UTC https://padlet.com/robinuon/pjjz34wzzyt0/wish/802311097 Jack - q10 jackpearce191_2 https://padlet.com/robinuon/pjjz34wzzyt0/wish/802800751 Where a client wishes to move money invested in the current tax year, then he has to transfer the whole amount.  Prior to 6 April 2016, deposit based investments usually paid out interest net of basic rate tax (i.e. the gross interest less 20%). Following the introduction of the personal savings allowance from 6 April 2016, banks and building societies are now required to pay interest gross. The amount of tax payable by the client will depend on how much earned income (including pension income) they have, as this determines whether they are a non, starting rate, basic rate, higher rate or additional rate tax payer: Income Tax • No tax payable on first £1,000 for BR tax payers/£500 for HR tax payers • BRT 20% over first £1,000 • HRT 40% over first £500 • ART 45% C ]]> 2020-10-05 12:53:03 UTC https://padlet.com/robinuon/pjjz34wzzyt0/wish/802800751 Savings accounts robinuon https://padlet.com/robinuon/pjjz34wzzyt0/wish/803061663 2020-10-05 13:55:44 UTC https://padlet.com/robinuon/pjjz34wzzyt0/wish/803061663 Tax on savings robinuon https://padlet.com/robinuon/pjjz34wzzyt0/wish/803122852 2020-10-05 14:09:18 UTC https://padlet.com/robinuon/pjjz34wzzyt0/wish/803122852 NS&I robinuon https://padlet.com/robinuon/pjjz34wzzyt0/wish/803213067 2020-10-05 14:28:54 UTC https://padlet.com/robinuon/pjjz34wzzyt0/wish/803213067