Overnight money markets

[aceparts_com]

I asked over the counter at my local HSBC about what we can do with any 'spare' money in our business account. She suggested either the standard high interest account or a moneymarket in which I have to pledge the money for a month at a time. Can anyone elaborate as i was in a bit of a rush

[jamesw2000]

You'd basically be giving them an amount of money to play with each month trading on foreign markets that aren't open in UK business hours by the sounds of it.

[aceparts_com]

That sounded like it - anyone use this? What's the risk/ reward like?

[360stimo]

aceparts_com said:

I asked over the counter at my local HSBC about what we can do with any 'spare' money in our business account. She suggested either the standard high interest account or a moneymarket in which I have to pledge the money for a month at a time. Can anyone elaborate as i was in a bit of a rush

i don't use over night money markets, never heard of them

but

I do use the money market often with HSBC. You'd agree an amount to give them and then agree a time to have the money invested for (you break this and you get seriously penalised for it). The they quote you a guaranteed % return and you either take it or leave it. The % can vary depending on amount invested and for how long.

Edited by 360stimo on Wednesday 28th February 19:40

[aceparts_com]

That's it - money market

Say 50K for 1 month...

My local hsbc is closed more than it's open