jad n rich

Weve got some funds with a couple of banks here. One offers slightly higher interest than the main 4. However just recently they are actually ringing up, email, etc offering an even higher interest rate. Today a personal phone call asking us to invest funds with them

We have been quite happy with them, but seems a little odd for a bank to ring up you up encouraging you to invest funds at way above the market rate

Anyone else getting these calls?

GinaUK

Without knowing what bank you're talking about I can only make a couple of wild guesses.

Are the calls from Bank of Queensland? They are actually a franchise and I would imagine that the owner-managers get higher bonuses the more customers and the more funds invested they have.

Link here: http://www.boq.com.au/aboutus_corporate_omb.htm

If it's Bankwest, then the reason for a slightly higher interest rate is probably that they have an aggressive expansion strategy for "over east". If it's Bankwest I wouldn't worry. They are wholly owned by HBOS UK (that's Halifax Bank of Scotland).

Can't speculate further without knowing what bank you're talking about.

Gina

ossigeno

The same HBOS whose recent rights issue got a 8% take-up.

Grayling

I declined my share option and asked them to sell them instead.

I got £2.88 for them......as it was under £5 the money automatically went to charity.........I was never even asked if I wanted it

G

jad n rich

Whats the story (apart from the obvious credit crunch ) with this HBOS thing, from what I can tell (google research ) shares fell about 75% and nobody wants the shares, they own bankwest dont they.

IvanM

Correct but it was fully underwritten which means HBOS got all the billions they wanted from the investment banks. Their investment banks have to stump up the cash by flogging the shares at full price.

IvanM

The shares bounced back.
http://www.guardian.co.uk/business/2...siness.banking

GinaUK

That is the story. All the big banks in the UK have done this since the start of the year: tried to raise more cash from investors by doing a share issue.

Gina

jad n rich

Or in OZ by ringing the customers and asking for it

So did anyone else get in OZ get the calls ?