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benjamin

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request for info. really. i understand that a company can put its money on very short term deposits and earn quite a good rate of interest - overnight/ weekends etc.. anyone got more info. on how it works and how to do it please? thanks.

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request for info. really. i understand that a company can put its money on very short term deposits and earn quite a good rate of interest - overnight/ weekends etc.. anyone got more info. on how it works and how to do it please? thanks.

Check out sites like: http://www.oanda.com/ you transfer the money in, they pay you interest by the second. Then you transfer it out when you need it. Not sure what the tranfer in and out times are like though.

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I do this with my limited company money - it is very straight forward. Check out eLads. You call them to link an account which takes about a day. Then you log on, select how much you want to lend and for how long. The next screen tells you the rate of interest you will get and how much you will get back - you then have about 2 minutes to confirm (I find it very exciting watching it count down and change from green to red but I guess that is just me :P ). And that is it. The principle plus interest is then returned to you after the specified period. You also get email and paper confirmations. The same system can be used for forex trading which is convenient if you hold different currencies as you get very good rates not available on the high street.

I think they have a demo account on the site you can log in with.

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I'm so glad I dipped into this thread. I didn't realise that this kind of facility was available on this scale.

The ELADS service looks good to me (I need to look more closely at the other one because I couldn't immediately spot the deposit option) but I wonder whether you guys know of any online resources for comparing the rates on offer by the various providers in this space?

Perhaps there are no disparities I don't know as I'm new to this.

All sources welcome and thanks for the info above.

Richard

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I'm so glad I dipped into this thread. I didn't realise that this kind of facility was available on this scale.

The ELADS service looks good to me (I need to look more closely at the other one because I couldn't immediately spot the deposit option) but I wonder whether you guys know of any online resources for comparing the rates on offer by the various providers in this space?

Perhaps there are no disparities I don't know as I'm new to this.

All sources welcome and thanks for the info above.

Richard

From my admittedly limited understanding, I don't think there is much of a difference in rates between providers. The rate is determined when you input your principle and the length of time you wish to lend for - this then goes straight to a broker who gives you a one time offer which you either accept or reject within 2 minutes. Because of this, there is no real way to compare because all offers are going to be one time only. The way to get a better rate is to either lend more or lend for a longer period - try a few combinations and then commit when you're happy with an offer. The only thing to remember is that there is a minimum deposit (I think it is GBP 50,000 if I remember correctly). Any other questions just let me know - I'm glad I can finally offer some back to HPC.

Oh yeah, I also checked www.oanda.com too and could only find forex - no money markets.

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From my admittedly limited understanding, I don't think there is much of a difference in rates between providers. The rate is determined when you input your principle and the length of time you wish to lend for - this then goes straight to a broker who gives you a one time offer which you either accept or reject within 2 minutes. Because of this, there is no real way to compare because all offers are going to be one time only. The way to get a better rate is to either lend more or lend for a longer period - try a few combinations and then commit when you're happy with an offer. The only thing to remember is that there is a minimum deposit (I think it is GBP 50,000 if I remember correctly). Any other questions just let me know - I'm glad I can finally offer some back to HPC.

Oh yeah, I also checked www.oanda.com too and could only find forex - no money markets.

that's great - thanks for the info!

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