You will have to have your bid amount in the save section of the app at the time of making your bid
Ah ok. Thanks. I’m just think of taking some out of Marcus.
If there’s only £100k it’s hard to know whats the max you can really go for, like £5k to get in the first month allocation.
It’s difficult to say until they’ve run a few and we see what people are generally bidding
Here are some stats from their first issuance, but bear in mind that this was months ago and I’d imagine there are more people bidding this time.
Median successful £500. Only 62 people.
I guess one bid per person.
When bids are closed, we will rank all bids by size, prioritising smaller amounts. For two or more bids of the same value, the bid that came in first will be of higher priority. We will issue bonds in the above order of prioritisation until we have reached the £1m issuance limit (details below). This is the cut off point, bids beyond this will be unsuccessful.
Yes, I believe so.
Is the £1m another bidding war?
I think I might try that one instead, I don’t know if I fancy doing this round just to put 500 to get 25 quid just to have a chance of getting through.
Last time had 200,000+ bids and only 62 people got it.
This time it’s going to a million bids so I would have thought a successful bid would need to be 100,200,300,400, or 500 ?
As far as I’m aware all of the dozens bond issuances will have the same process.
It’s worth pointing out though that in the first issuance results that I linked above there were a few very low bids and a couple of extremely high bids. You may well be successful this time with a higher bid than the median you mentioned above.
But you’ll have to decide for yourself whether or not you think the bidding system is suitable for your circumstances.
I thought it was only one bid per customer? How was there 200,000 bids from a few thousand customers.
Thank you @Nsteer for some great replies - couldn’t have done better myself
@phildawson We have the same process for all issuances, as the objective is to reward as many customers for their efforts in putting money away as possible.
That’s not quite correct as we got many fewer bids than that, but still there were also many fewer people bidding in that first issuance. That’s why we plan on growing the size of the issuance for the next one, so we can let more people take part, but also why we plan to do these regularly so you can choose to put smaller sums away on a regular basis rather than be required to build up large initial deposits.
Now that we have the bonds available again, we will also be sharing news in the very near future about other products in the Grow and Invest sections of our app, so do keep an eye on our upcoming news if you are interested in similar opportunities.
But smaller savers already have Nationwide (and TSB)…
Please direct me to their 5% savings products!
Both have cut interest recently
It’s this one that you give £125 max for keeping £2500+ balance. 5% AER fixed on up to £2,500 for 12 months
You get 5% on £2500 for 12 months, then just 1% forever after, unless you play the game of closing accounts, joint accounts etc.
Now they’ve cut the 5% regular saver, it’s not all that attractive. Really just an account opening incentive.
Well yeah you aren’t really going to get 5% (almost) risk free on anything significant.
You could bid for Dozens 5% bonds but we’re talking really a median successful bid of only £500. To make £25 quid for locking it away for a year. You can bid as high as you want but only £100k this round, £1m next which might be more useful if you have a few k around.
If you want £150 it’s easier just having a burner account to collect the bribes. Of course it’ll have a small impact on credit report.
We’ll pay £150 in to your NatWest account by the 21st February 2020.
Well, there’s the rub.
I’ve cycled through so many accounts to pick up all the deals, there’s precious little left.
Something reliable like dozens, even if the amounts are small, is pretty attractive right now!
If you have a Freetrade you could earn a fairly safe 5% and get a S&S ISA with minimal spend to setup, not guaranteed though
Just don’t go for individual businesses unless you’re incredibly certain, and not all eggs in one basket, EFTs more safer etc.
I’m all set for longer term investments. It’s the short and medium term that’s trickier.
You can cash in dozens bonds at any time with no penalty except the current month’s interest.
No point putting money in and out of an SS ISA.
Dozens are still using it as a marketing tactic to get everyone onboard with their app atm instead of a realistic product. When you can start chucking in a decent amount at any point that will be a winner.
Yes, realistically I’m expecting my bid to be rejected.
Nothing ventured, nothing gained, I suppose