Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.
View this topic in a long page with up to 500 replies per page Create new topic
1 | 2 | 3 | 4
1552 posts

Uber Geek
+1 received by user: 157

Subscriber

  Reply # 1841438 8-Aug-2017 20:23
Send private message

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. 

 

 


1511 posts

Uber Geek
+1 received by user: 212


  Reply # 1841442 8-Aug-2017 20:34
Send private message

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. :)

7678 posts

Uber Geek
+1 received by user: 2527

Subscriber

  Reply # 1841449 8-Aug-2017 20:47
Send private message

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.


Stu

Hammered
4994 posts

Uber Geek
+1 received by user: 1046

Moderator
Trusted
Lifetime subscriber

  Reply # 1841463 8-Aug-2017 21:01
Send private message

 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.

 

 

 

Click to see full size Click to see full size


7678 posts

Uber Geek
+1 received by user: 2527

Subscriber

  Reply # 1841467 8-Aug-2017 21:06
Send private message

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


Stu

Hammered
4994 posts

Uber Geek
+1 received by user: 1046

Moderator
Trusted
Lifetime subscriber

  Reply # 1841469 8-Aug-2017 21:08
Send private message

Bond holders don't earn interest.





Keep calm, and carry on posting.

 

 

 

Click to see full size Click to see full size


2656 posts

Uber Geek
+1 received by user: 276


  Reply # 1841470 8-Aug-2017 21:08
Send private message

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.


Stu

Hammered
4994 posts

Uber Geek
+1 received by user: 1046

Moderator
Trusted
Lifetime subscriber

  Reply # 1841472 8-Aug-2017 21:11
Send private message

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.

 

 

 

Click to see full size Click to see full size


7678 posts

Uber Geek
+1 received by user: 2527

Subscriber

  Reply # 1841474 8-Aug-2017 21:11
One person supports this post
Send private message

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.


Stu

Hammered
4994 posts

Uber Geek
+1 received by user: 1046

Moderator
Trusted
Lifetime subscriber

  Reply # 1841477 8-Aug-2017 21:17
Send private message

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.

 

 

 

Click to see full size Click to see full size


7678 posts

Uber Geek
+1 received by user: 2527

Subscriber

  Reply # 1841487 8-Aug-2017 21:48
Send private message

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." :)


1828 posts

Uber Geek
+1 received by user: 215
Inactive user


  Reply # 1841509 9-Aug-2017 00:51
Send private message

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 


317 posts

Ultimate Geek
+1 received by user: 55


  Reply # 1841518 9-Aug-2017 05:04
Send private message

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.


2484 posts

Uber Geek
+1 received by user: 535
Inactive user


  Reply # 1841521 9-Aug-2017 06:18
Send private message

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.


894 posts

Ultimate Geek
+1 received by user: 271

Trusted

  Reply # 1841539 9-Aug-2017 07:24
Send private message

Yes Bonus Bonds is a legitimate scheme, ran by the ANZ.

 

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






1 | 2 | 3 | 4
View this topic in a long page with up to 500 replies per page Create new topic

Twitter »

Follow us to receive Twitter updates when new discussions are posted in our forums:



Follow us to receive Twitter updates when news items and blogs are posted in our frontpage:



Follow us to receive Twitter updates when tech item prices are listed in our price comparison site:





News »

Hawaiki Transpacific cable ready-for-service
Posted 20-Jul-2018 11:29


Microsoft Dynamics 365 Business Central launches
Posted 10-Jul-2018 10:40


Spark completes first milestone in voice platform upgrade
Posted 10-Jul-2018 09:36


Microsoft ices heated developers
Posted 6-Jul-2018 20:16


PB Technologies charged for its extended warranties and warned for bait advertising
Posted 3-Jul-2018 15:45


Almost 20,000 people claim credits from Spark
Posted 29-Jun-2018 10:40


Cove sells NZ's first insurance policy via chatbot
Posted 25-Jun-2018 10:04


N4L helping TAKA Trust bridge the digital divide for Lower Hutt students
Posted 18-Jun-2018 13:08


Winners Announced for 2018 CIO Awards
Posted 18-Jun-2018 13:03


Logitech Rally sets new standard for USB-connected video conference cameras
Posted 18-Jun-2018 09:27


Russell Stanners steps down as Vodafone NZ CEO
Posted 12-Jun-2018 09:13


Intergen recognised as 2018 Microsoft Country Partner of the Year for New Zealand
Posted 12-Jun-2018 08:00


Finalists Announced For Microsoft NZ Partner Awards
Posted 6-Jun-2018 15:12


Vocus Group and Vodafone announce joint venture to accelerate fibre innovation
Posted 5-Jun-2018 10:52


Kogan.com to launch Kogan Mobile in New Zealand
Posted 4-Jun-2018 14:34



Geekzone Live »

Try automatic live updates from Geekzone directly in your browser, without refreshing the page, with Geekzone Live now.



Are you subscribed to our RSS feed? You can download the latest headlines and summaries from our stories directly to your computer or smartphone by using a feed reader.

Alternatively, you can receive a daily email with Geekzone updates.