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Mintos (P2P Lending Platform)

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  • Registered Users Posts: 8,881 ✭✭✭bohsman


    I've been on Finbee for the last year for small amounts with no issues, the other two I'm adding after reading good reviews on http://p2pindependentforum.com/board/98/general-eur-p2x-discussion (Threads like 2017 results and favourite platforms)


  • Registered Users Posts: 32 protosByte


    bohsman wrote: »
    I've been on Finbee for the last year for small amounts with no issues, the other two I'm adding after reading good reviews on http://p2pindependentforum.com/board/98/general-eur-p2x-discussion (Threads like 2017 results and favourite platforms)
    Thanks for the link. Some good stuff there. Like a few others here I'm going to spread my money around a bit. I'm very happy with Mintos but it makes good financial sense to not put all my eggs in one basket.


  • Registered Users Posts: 1,304 ✭✭✭scheister


    have set up a robocash account and sent a tester amount to try it out if it works i might split my money between mintos and robocash


  • Registered Users Posts: 2,897 ✭✭✭littlevillage


    Finbee appears to not have a Gaurantee and is a small operator. Only loaned out €700,000 in Feb. (Mintos loaned out €44 million).

    Robocash looks interesting. 14% return at the moment but thats just an introductory offer, they plan to reduce that to 12% in the longer term. Seems to be a complex company structure too.


  • Closed Accounts Posts: 5,019 ✭✭✭ct5amr2ig1nfhp


    I somehow missed that finbee got rid of their 'compensation fund' in Jul 2017. Silly me.


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  • Closed Accounts Posts: 870 ✭✭✭Kuva


    Is their any protection using Mintos? Or can 1 lad shut up shop and off into the sunset?

    Are they all set up the same?


  • Closed Accounts Posts: 5,019 ✭✭✭ct5amr2ig1nfhp


    I see Latvia's financial system in the news, questions over senior bank officials taking bribes. US investigating links of Lativa's third largest bank and North Korea. I wonder if there could be repercussions for the likes of Mintos et al. if the ECB get involved.


  • Registered Users Posts: 2,897 ✭✭✭littlevillage


    I see Latvia's financial system in the news, questions over senior bank officials taking bribes. US investigating links of Lativa's third largest bank and North Korea. I wonder if there could be repercussions for the likes of Mintos et al. if the ECB get involved.


    Seems like ABLV bank is effectively shutting down pending a full investigation. Does Mintos store any of our money with ABLV? How about the Originators on Mintos or the borrowers.

    Would be hard to imagine how this will have no effect......but lets hope its minimal.


  • Registered Users Posts: 2,897 ✭✭✭littlevillage


    Mintos used to bank with

    LUMINOR BANK AS LATVIA (FORMER NORDEA BANK AB LATVIA) in RIGA,


    Then switched a few Months back, to

    Paysera LT UAB (Lithuania)


    Soo at least Mintos investors funds don't look like they will be immediately affected by any possible wind-up of ABLV bank


  • Closed Accounts Posts: 870 ✭✭✭Kuva


    Seems like ABLV bank is effectively shutting down pending a full investigation. Does Mintos store any of our money with ABLV? How about the Originators on Mintos or the borrowers.

    Would be hard to imagine how this will have no effect......but lets hope its minimal.
    And I only asked about them the other day...
    Mintos used to use


    Code of LUMINOR BANK AS LATVIA (FORMER NORDEA BANK AB LATVIA) in RIGA,


    Then switched a few Months back, to

    Paysera LT UAB (Lithuania)


    Soo at least investors funds don't look like they will be immediately effected.
    Not enough though, I read about Degiro and how they protect Investor money awhile back but Mintos has nothing (that I can find) and then have another layer of iffy companies.

    "Only put in what you can afford to lose" is not good enough.


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  • Registered Users Posts: 1,108 ✭✭✭TheSheriff


    Interesting to see a UK lender join Mintos today! Expansion is still well underway


  • Registered Users Posts: 2,897 ✭✭✭littlevillage


    As I predicted, ABLV is to close. ECB and Latvia government don't see it as being of systemic importance.

    Hopefully there won't be any serious contagion to other financial institutions and things get back to 'normal' quicky.

    Undoubtedly tighter regulations for Financial companies are on the way in Latvia, what this means for P2P, I don't know, but I am happy enough to sacrifice a few percent on returns for greater peace of mind


  • Closed Accounts Posts: 5,019 ✭✭✭ct5amr2ig1nfhp


    Varks.am from Armenia was added as an originator in Feb 2018. Currently offering short terms 13 day loans in EUR at 15% with buyback. Might interest a few of you.


  • Closed Accounts Posts: 5,019 ✭✭✭ct5amr2ig1nfhp


    Nearly all of MoneyMetro (now VIZIA) short term loans are late. Less than 3% are current.

    New entrant Rapicredit from Colombia, who only joined in Feb 2018, look like they are having some trouble too. 60% of their loans are late.


  • Registered Users Posts: 2,897 ✭✭✭littlevillage


    I have 33 loans with MoneyMetro (VIZIA) on the Mintos platform, 24 are current the other 9 are in various stages of late. Soo thats 72% current. All are long term loans circa 12 Month. All are gauranteed.

    Don't have any loans with Rapidcredit.


    Was very worried when the Latvian Banks came under pressure back in Feb.... but my latvian p2p's, Mintos, Twino and DoFinance are all roaring ahead (based on lending volumes at least) for Feb and March.


    https://www.p2p-banking.com/countries/germany-international-p2p-lending-volumes-march-2018/


    Some day the Latvian p2p party will probably end badly, but for the moment 12% gauranteed return per annum is just crazy tempting.


    To put that in context I am struggling to even get to break-even on my Share portfolio... and bank interest rates are not even matching our very low inflation rate (0.43%)


  • Closed Accounts Posts: 870 ✭✭✭Kuva




    Was very worried when the Latvian Banks came under pressure back in Feb.... but my latvian p2p's, Mintos, Twino and DoFinance are all roaring ahead (based on lending volumes at least) for Feb and March.



    Some day the Latvian p2p party will probably end badly, but for the moment 12% gauranteed return per annum is just crazy tempting.


    Not worth the headache even using when it could all disappear overnight and it will.


  • Registered Users Posts: 1,108 ✭✭✭TheSheriff


    Kuva wrote: »


    Was very worried when the Latvian Banks came under pressure back in Feb.... but my latvian p2p's, Mintos, Twino and DoFinance are all roaring ahead (based on lending volumes at least) for Feb and March.



    Some day the Latvian p2p party will probably end badly, but for the moment 12% gauranteed return per annum is just crazy tempting.


    Not worth the headache even using when it could all disappear overnight and it will.

    Source ? I think it would something big to topple mintos at this point. It has grown enormously


  • Registered Users Posts: 82 ✭✭Chiarrai92


    TheSheriff wrote: »
    Source ? I think it would something big to topple mintos at this point. It has grown enormously

    Enormously and very suddenly.. So much so i got abit spooked and withdrew about 60% of what i had on mintos.


  • Closed Accounts Posts: 5,019 ✭✭✭ct5amr2ig1nfhp


    Not sure if it has been mentioned in the thread yet. Mintos had over two million in revenue and made a profit in 2017 according to their co-founder and CEO Martins. Considering the growth they have had recently, that is impressive.

    YEAR | NET_TURNOVER | PROFIT
    2015 | 49,000 | -93,000
    2016 | 521,000 | -180,000
    2017 | 2,000,000 | + ? (not available yet)


  • Closed Accounts Posts: 5,019 ✭✭✭ct5amr2ig1nfhp


    Mintos introduces predefined "Mintos Investment Strategies". link

    Short Term - from 8% - 0-3 months
    Diversification - expect 12.5% - ~25months
    Secured - expect 12.4% - ~40months

    I cannot see myself using these at the moment. I am very happy with the few auto invest portfolios I have. It has taken me a while to fine tune them.


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  • Closed Accounts Posts: 5,019 ✭✭✭ct5amr2ig1nfhp


    Nice to see they continue to work on the website. New dynamic charts added under "current investments".


  • Registered Users Posts: 391 ✭✭Yurple


    I recently got a decent sum of money from a court case... some people say Mintos is a risk to invest in and money is not secure, others say only to use the buyback option and it is a huge safe return on investment???

    Is it safe to put a large sum of money in it?


  • Closed Accounts Posts: 870 ✭✭✭Kuva


    Yurple wrote: »
    I recently got a decent sum of money from a court case... some people say Mintos is a risk to invest in and money is not secure, others say only to use the buyback option and it is a huge safe return on investment???

    Is it safe to put a large sum of money in it?

    Buyback is only as good as the originator and very hard to tell how good or bad most of them are, one shut up shop last year, people lost money. Saying that you can and should spread your money all over the place to minimise this. Mintos own some of the originators aswell.

    Mintos is profitable, huge growth, they say they'll hit 1 Billion invested by end of September now, it was expected by year end. I think it has 39% share of the p2p market in europe now so looking good but who knows what regulation/laws may come in in Latvia to the P2P sector.

    Ehh, maybe put some in Mintos, check the financials for one or two others and get a Degiro account going and set up a Kraken account for abit of bitcoin.

    https://www.scmp.com/business/companies/article/2155357/investors-left-rue-losses-fraudulent-chinese-p2p-lenders-collapse

    Look at this for a P2P fecking disaster^^^





    ^^Said by some random internet person who knows feck all^^


  • Registered Users Posts: 10,172 ✭✭✭✭tom1ie


    Hi all.
    So I’m thinking of starting to invest in p2p lending and Mintos looks like a good place to start. I’ve done a bank transfer to the Mintos website and I’m just about waiting on the funds to show up in my Mintos account.
    The money I’ll be investing is money I can afford to lose, but I’m just wondering if any one has made any profit on this and if they’ve been able to withdraw it from Mintos and back into there bank acc without any problems?
    Also once tax has been factored in is there still a decent margin to be made?
    Is there a way to avoid bank charges, as when I transferred money from my bank to Mintos I was charged 50c as Mintos is outside the sepa area. I know it’s only 50c but every little helps.
    I’m planning on sticking to short term 1 month personnel loans and only investing 10 euro per investment, so my first first bunch of investments will be 10x 10 euro investments, all guaranteed buybacks.
    There seems to be lots of these loans with 18% interest rates. This seems quite high, but do they get paid back? The loan has the buyback guarantee, but is that guarantee actually any good?
    Thanks for the advice guys.


  • Closed Accounts Posts: 5,019 ✭✭✭ct5amr2ig1nfhp


    Revenue issued a guideline relating to p2p lending tax. Revenue eBrief No. 89/18. Return after tax depends on your income. P2P earnings are taxed at income tax rates.

    Are you sending EUR? Mintos EUR bank is in Latvia and accepts SEPA payments. Who do you bank with?

    The 18% loans are at a higher rate for a reason. Much higher risk due the currency. They are most likely Kazakhstani Tenge (KZT). You will need to factor in currency fluctuations if you plan to bring it back to eur at some stage. To give you an example 1 EUR = ~200 KZT (2015) , 1 EUR = ~425 KZT (today). the Tenge has more than halved in value.

    You invested 100 EUR in 2015 at 18% (1 EUR = 200 KZT). You invest all the 100 EUR in KZT issued loans. You now have 200 KZT of loans.
    By end of year, you have made 18%, giving you a return of 36 KZT. You now have 236 KZT (initial investment + return). However the EUR/KZT rate is now 1 EUR = 400 KZT. You convert your 236 KZT back to EUR... giving you 59 EUR. You have just made a substantial loss on your 100 EUR.

    Looking at a few of the other currencies:
    GBP... you have brexit
    RUB... you have worldwide sanctions
    KZT and GEL... geopolitical instability
    USD... Trump

    I would recommend you keep to your currency, I presume EUR? So only invest in EUR loans for now.

    Edit: thrown in a real world example, figures will be slightly different depending on the loan types etc. but they are only approx figures to give you an idea.


  • Registered Users Posts: 10,172 ✭✭✭✭tom1ie


    Revenue issued a guideline relating to p2p lending tax. Revenue eBrief No. 89/18. Return after tax depends on your income. P2P earnings are taxed at income tax rates.

    Are you sending EUR? Mintos EUR bank is in Latvia and accepts SEPA payments. Who do you bank with?

    The 18% loans are at a higher rate for a reason. Much higher risk due the currency. They are most likely Kazakhstani Tenge (KZT). You will need to factor in currency fluctuations if you plan to bring it back to eur at some stage. To give you an example 1 EUR = ~200 KZT (2015) , 1 EUR = ~425 KZT (today). the Tenge has more than halved in value.

    Looking at a few of the other currencies:
    GBP... you have brexit
    RUB... you have worldwide sanctions
    KZT and GEL... geopolitical instability
    USD... Trump

    I would recommend you keep to your currency, I presume EUR? So only invest in EUR loans for now.

    Thanks for that project moose. I am indeed investing in euro, so I’ll stick to that currency.
    I bank with Ptsb.
    If this question is too nosy please ignore it, but since you have started the p2p investing, would you say it’s been worthwhile and has made you any profit?
    Thanks again.


  • Closed Accounts Posts: 5,019 ✭✭✭ct5amr2ig1nfhp


    I used to bank with PTSB and all SEPA transfers were free. Double check the charge on your statement.

    I am happy with my return but p2p lending is only a small part of my investment portfolio.


  • Registered Users Posts: 2,897 ✭✭✭littlevillage


    Mintos have introduced a Loan Originator rating system. A, B, C, D

    From my reading of it, this could be the short hand.

    A = Awesome
    B = Better than average
    C = Chancey
    D = Disastrous

    :-)


  • Closed Accounts Posts: 5,019 ✭✭✭ct5amr2ig1nfhp


    Interesting looking at the comparison between Mintos ratings (link and link) and explorep2p.com ratings (link)

    Mintos have rated Capital Service as high risk or 'elevated' risk, whereas explorep2p.com have rated them as 12th of 48 originators. I would call that low-moderate risk on the explorep2p rating system.

    Eurocent is the only one to have a Mintos D (default) rating.

    My take away - why are Mintos listing loan originators that they themselves rated as C rating, 'a company with considerable weakness in financial performance and standing... '8 of 48 originators have a C rating.


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  • Registered Users Posts: 2,897 ✭✭✭littlevillage


    Interesting looking at the comparison between Mintos ratings (link and link) and explorep2p.com ratings (link)

    Mintos have rated Capital Service as high risk or 'elevated' risk, whereas explorep2p.com have rated them as 12th of 48 originators. I would call that low-moderate risk on the explorep2p rating system.

    Eurocent is the only one to have a Mintos D (default) rating.

    My take away - why are Mintos listing loan originators that they themselves rated as C rating, 'a company with considerable weakness in financial performance and standing... '8 of 48 originators have a C rating.


    I think Mintos were coming under pressure to explain the criteria they use when vetting Loan Originators....... and this might be the result. It might also be possible that Mintos are covering themselves in case of another Eurocent ?

    If for example a C graded Originator goes to the wall.... Mintos can explain it away.


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