Cashback Investment Club questions

[garindan]

Please post your questions about the Cashback Investment Club (CIC for short) here. We'll try and answer them as quickly and clearly as possible!

[kevinchess1]

Most inportantly
can't we have a better name
CIC send me off to sleeeee

[garindan]

Most inportantly
can't we have a better name
CIC send me off to sleeeee

Hi Kev,

It had to be called something and "Ye olde coin counting club" sounded a bit too outdated. We can't really change the name now though I'm afraid, as all the official documentation and accounts have been opened with it. On the plus side it does what it says on the tin.

Thanks,
Andrew

[Richard Frost]

At the moment on the redemption options there is only the possibility of redeeming by one option. If i have £20 to redeem and want to invest £10 in the CIC and get paid by BACS for the other £10 how do I do it?

[kevinchess1]

At the moment on the redemption options there is only the possibility of redeeming by one option. If i have £20 to redeem and want to invest £10 in the CIC and get paid by BACS for the other £10 how do I do it?

...errr.... you change the figure to £10
But
You can only redeem once a week if that's what your asking
It's always been like that

[Richard Frost]

No I am not asking if you can redeem more than once a week. I am fully aware that you can only redeem once a week.
What I am asking is how can you redeem by two methods once a week. I might want to put £10 into CIC every week. How do I do that and get the additional money into my bank?

[richard@imutual]

I might want to put £10 into CIC every week. How do I do that and get the additional money into my bank?

You'd have to choose one week where you don't put any money into CIC, and redeem by BACS instead. Hope I've understood your question correctly

[kevinchess1]

Perhaps put £20 pound in CIC one week then Cash in £20 the following
We have never had the ability to cash out by more than one method
You couldn't pay £10 into paypal and £10 into Bacs at the same time

[Richard Frost]

I might want to put £10 into CIC every week. How do I do that and get the additional money into my bank?

You'd have to choose one week where you don't put any money into CIC, and redeem by BACS instead. Hope I've understood your question correctly

Yes you have. So the answer is I cannot split redemption between the two.

[richard@imutual]

Not in the same week, no I can see no objection to allowing people to do that, but it will take a bit of development time that I'm afraid we don't have just at the moment...