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  Reply # 1841438 8-Aug-2017 20:23
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wellygary:

 

Bonus Bonds are an interesting quirk of history that would be classed as  tax avoidance if someone tried to set it up now :)

 

They are a great place to stash money to keep it out of the hands of government departments who class interest as a source of income

 

(they are "winnings" similar to a lotto payout),

 

But they are a rotten place if you want to actually make a return,  as fees and tax gobble up almost 50% of the funds return, so you get much less in the hand compared with a simple term deposit...

 

 

 

 

 

 

 

 

Umm...there are no fees. When you win a prize e.g. $20, it is $20. 

 

 


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  Reply # 1841442 8-Aug-2017 20:34
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Knew I had read a story a while back about why there were less prizes.


http://www.stuff.co.nz/business/86901113/anz-has-no-plans-to-cut-bonus-bond-fees-despite-dwindling-odds-and-prize-pool


Also has fees at the bottom. I presume the fees are coming out of the interest and therefore are reducing prize money/chances of winning.



Thanks for the link edit, hard to do n iPad. :)

 
 
 
 


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  Reply # 1841449 8-Aug-2017 20:47
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Goosey:

 

Umm...there are no fees. When you win a prize e.g. $20, it is $20. 

 

 

 

 

on the winnings there isnt, but on the money in the account there is.


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  Reply # 1841463 8-Aug-2017 21:01
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 Pretty sure I've never been charged fees on my bondholdings. Where did you read that? Unless you're talking about any fees ANZ might pay for the cache of holders' money?





Keep calm, and carry on posting.

 

 

 

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  Reply # 1841467 8-Aug-2017 21:06
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its charged on the interest gained isnt it, so it reduces the total price money avaliable


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  Reply # 1841469 8-Aug-2017 21:08
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Bond holders don't earn interest.





Keep calm, and carry on posting.

 

 

 

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  Reply # 1841470 8-Aug-2017 21:08
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Jase2985:

 

its charged on the interest gained isnt it, so it reduces the total price money avaliable

 

 

Correct. You put in $1. You can pull out $1. 

 

BUT, there is the slimmest chance you could win $20 a year, or $1m from a pool in the overall profit that the scheme may or may not make.

 

No fees are charged to the investors (us). But any that are are taken from the profits/prizefund.


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  Reply # 1841472 8-Aug-2017 21:11
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Correct. Interest is earned by ANZ on the fund, and they pay relevant fees etc. Bondholders only get anything out of it if we're lucky enough to win.





Keep calm, and carry on posting.

 

 

 

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  Reply # 1841474 8-Aug-2017 21:11
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Stu:

 

Bond holders don't earn interest.

 

 

yes YOU dont gain interest, but all the money in the account does, as where do you think the prize money comes from. the fees come out of that money.


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  Reply # 1841477 8-Aug-2017 21:17
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I'm fully aware of how the system works. Your comments were vague. Now that we're on the same page, there may be less confusion.




Keep calm, and carry on posting.

 

 

 

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  Reply # 1841487 8-Aug-2017 21:48
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Stu: I'm fully aware of how the system works. Your comments were vague. Now that we're on the same page, there may be less confusion.

 

the other poster had no issues understanding

 

"Keep calm, and carry on posting." :)


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  Reply # 1841509 9-Aug-2017 00:51
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Waste of time and money in the vain hope you may win a big prize 

 

 

 

How much more would you have made on your $7000 in term deposits probably a heck of alot more than you've been given in pitiful prizes meanwhile the ANZ is racking it in and charging you for the profit its making 


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  Reply # 1841518 9-Aug-2017 05:04
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Athlonite:

Waste of time and money in the vain hope you may win a big prize 


 


How much more would you have made on your $7000 in term deposits probably a heck of alot more than you've been given in pitiful prizes meanwhile the ANZ is racking it in and charging you for the profit its making 



Not quite comparing apples with apples here. Your funds are locked up in a term deposit Vs 2 days to withdraw with bonus bonds.

For a fairer comparison you should compare it with an on-call savings account some which pay as low as 0.10% which don't make bonus bonds look as bad.


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  Reply # 1841521 9-Aug-2017 06:18
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But at the end of the day someone who invested $1000 40 years ago, when it was a hell of a lot of money have $1000 still in there, where it is just not that much now! They may have won some prizes, which the smart person would have reinvested in more bonds.

 

I have always thought these were basically a legitimised scam, I am not so sure I was too far wrong.





I know a little more than nothing but not much...

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  Reply # 1841539 9-Aug-2017 07:24
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Yes Bonus Bonds is a legitimate scheme, ran by the ANZ.

 

If you are somewhat unhappy with the return, then perhaps consider another investment. 






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