52% APR Has anyone banked with this bank?

[gavinmccallister]

The Tran Group
Retail Fixed Term Deposits is what I am interested in.
Does anyone have any objections to this bank, I am curious but would like some other people's opinion before opening up an account with them. Are they safe?

Mission Statement
Our mission is to create financial solutions for our customers through timely delivery of superior products and services.
We will carry out our mission efficiently, with a professional attitude and in an environment that is customer driven.


Corporate Vision
To produce for our customers superior products with superior service.



About Tran Group
Tran Group is comprised of two main operations:
Tran Group Investments Limited

Tran Group Trust Limited


Tran Group Investments Limited

Tran Group Investments Limited was established in the mid-1990s to provide discretionary investment management services for the assets for the Doral family and to provide retail investment services to clients of the deposit company. The investment aspect of the business has grown substantially since that time. Today, Tran Group Investments Limited provides discretionary investment management, mutual funds and financial planning services for individuals, families, corporations and government agencies.

Clients are provided with a customized Investment Policy Statement based on their personal investment needs and goals. The Investment Policy Statement takes into consideration clients' income and liquidity requirements, capital preservation needs, investment time horizon, and return requirements. A state-of-the-art investment process is used, based on a downside risk model. The Investment Policy Statement becomes the financial road map for clients and guides them in the achievement of their long-term goals. To ensure that client portfolios achieve their target returns without assuming excess risk, all portfolios are automatically re-balanced to ensure that the asset mix stays on target. Client reporting is simple to read and contains useful information that includes capital invested, market value, account activity, fees paid and rate of return. Tran Group clients enjoy personalized service, quarterly reviews with a private client manager and informative newsletters.

Tran Group Trust Limited

Tran Group Trust Limited is a Cyprus-licensed trust company. Tran Group Trust Limited has a well-established track record of providing comprehensive trust administration services to individuals and families, as well as charitable organizations. In its role as trustee, Tran Group Trust Limited's qualified trust officers work closely with a network of third party specialists (lawyers, investment managers and accountants) to ensure that client affairs are handled in an effective and efficient manner.

Cyprus trusts are highly flexible structures that enable residents and offshore clients to implement personal financial planning strategies that can help protect and grow their wealth. As the world's premier offshore jurisdiction and an innovator in trust administration, Cyprus features a supportive regulatory environment and a sophisticated financial infrastructure, with standards comparable to those of the United States and the United Kingdom. The Trust Company recently formed Tran Group Management Limited to provide management and accounting services, primarily to trusts and related financial entities.



Deposit Insurance

Our United States investors and clients frequently ask us about Federal Deposit Insurance Corporation (FDIC) insurance. FDIC is best understood within the context in which it was created.

The FDIC was created in the United States as a result of the banking crisis of the 1930s. It is primarily designed to prevent a collapse of the banking system brought on by depositor panic. FDIC is not intended to reduce the risk of a bank’s investment policies, preserve capital, or guarantee interest payments. Many US banks have deposits that are oriented towards the short term and thus benefit from FDIC membership. Under a system like FDIC, banks are required to limit the majority of their assets in stable but low yielding instruments such as government bonds.

Free from the limitations of FDIC, The Tran Group has more flexibility in its investment choices. We can invest in a wider variety of instruments, such as AAA rated bonds offered through European companies, international real estate and business investments. This results in a portfolio that hedges risk through diversity. Simply put, The Tran Group invests in similar vehicles as US banks but can offer more attractive returns and better manage risk through global choices.

The Tran Group and most other banks invest in similar asset classes. For example, many banks offer home mortgages, which are essentially real estate investments. In the United States, banks are primarily limited to mortgages on real estate in the United States. We also invest in real-estate backed mortgages, but we can invest in mortgages in international markets where these mortgages pay higher interest than similar mortgages in the United States. Therefore, with its global network, The Tran Group invests in similar assets but delivers higher returns to its investors.

As another example, many banks invest in government bonds. Specifically, many banks in the United States invest in bonds issued by the US, State, or Municipal Governments. Most of these bonds are A to AAA rated securities, or equivalent. We also invest in A to AAA rated bonds, but we invest in bonds in international markets where the coupon, or interest rate, are significantly higher than those paid by the governments in the US. Simply stated, with its global network, we invest in similar assets but delivers higher returns to its investors.

Finally, many banks offer commercial loans. A commercial loan is issued to a company and is essentially an investment in the assets of a company. Structured as loans, the investment returns are limited to the interest rate payable on the loans. The Tran Group also invests in companies. Following a stringent analysis, Tran structures investments into companies, but the returns are not limited to interest rates payable on loans. Therefore, with its team of experienced business leaders, The Tran Group passes on these higher returns to its investors while maintaining low risk profiles.

[34saving]

I'm curious too Their website seems to have a lot less information than I would expect it to. Did you notice that the "normal savings" listed above the "fixed term . . I don't remember the rest" were MONTHY returns? (IE under $25,000 is 48%)

[Tree0164]

They are located in Cypress. I would check out their site very carefully.

Personally I wouldn't put in a dime in it since it sounds too good to be true.

[coffeebreak]

Here's what I saw:

Under $25,000..........4.0%
25,000 - 99,999........4.5%
$100,000 and over....5.0%
$2 charge if balance below $1000

The lower section: 'Retail Fixed Term Deposits' has to be a typo. Nobody is going to offer 52% interest.

[lunchlady]

Its not FDIC insured.
My gut says, "If it sounds too good to be true - it probably is..."

[34saving]

Coffeebreak -- I'm pretty sure it said those are MONTHLY returns.

[coffeebreak]

Originally Posted by 34saving

Coffeebreak -- I'm pretty sure it said those are MONTHLY returns.

The website doesn't wrap properly on my screen so I didn't see the lower part. Those higher figures have to be a typo.

[34saving]

There sure isn't much out there about them. One thing, evidently for this type of account these returns aren't all that great. Here's everything I found from people on the net. Most of their statements are all but meaningless, but . . .

"I've been with tran group for 1 year, and they are all good... and i dun force any problem with them just make a try, they very wonderfull people."

"i've been banking with them for 2 years now. never have had any problems.
they are not fdic, cause they are located outside the US. the best thing I like, they don't pass any info to IRS."

"SCAM SCAMSCAMSCAMSCAMSCAMCAM!!!!!111oneone

Their quarterly reports are copied word-for-word from this site:
http://www.orbitfunds.com/Resources...rlyReportE.html

Orbit seems to be legit (with pretty crap results and all)"

"You, guys pissed me off. I have an account with them for 4 months now and you make ma scared. I called them and the girl told me that, all their reports are copyrighted, and I may check it out at their privacy page.

Well I went there and what I found out is :

Monthly and quarterly reports/commentary are provided by Orbit Funds (R).

I just don't understand how they can use those reports, from absolutely different company ? I can see that they just cover financial situation around and world markets, but...

P.S I just registered here, to put my 25cents BTW. I found them in the business directory from Robb Report."

"Thanks

No, I've never visited them, but I called them many times, but still don't understand working hours.

Well, I am pretty happy with them. Bill Pay is for free. Wire Transfer fee is $15 within europe and $25 in the US.

And they always call you back when you request a wire transfer or bill pay.

I had a doubt about them, untill I received my welcome kit... That's it what I can say..."

"besides a legitimate oprganisation would have the details of the principles involved ie an about us page... something is phishy here"

[sweeps]

LOL. Hey, there's another thread on here asking where someone should invest an extra $100,000. Just put it in this Tran Group savings account. You'll have $1.8 million in just 5 years. Tax free even since they don't report to your earnings to the IRS...

[Bluezy]

Gavin, my friend, don't do it!

[PRICEPLUS]

No FDIC no deposit. If the bank is not subject to any American banking regulations I would be leery.

[CJsoccerchic]

This is scary.... you could lose all your money really fast.... Or on the upside, it MIGHT be legimate and we are all on the wrong bandwagon...
lol
Wishing the best for whoever tries this bank...

[gavinmccallister]

I found information on their viewpoint on FDIC it look's interesting and the minimum is $1,000.00. I added the information to the first post.

[gavinmccallister]

I sent an e-mail to The Trangroup and they sent me this reply.


Date: Tue, 11 Apr 2006 09:43:09 -0700
From: "James Hodson" <james.hodson@thetrangroup.com>
To: "Gavin" <gavinmccallister@yahoo.com>
Subject: Re: retail fixed deposit

Dear Gavin,

Minimum Balance Information
The minimum balance required to open a CD, earn interest and obtain the
disclosed Annual Percentage Yield is $1,000.

Interest Rate Information
Interest is compounded daily and paid from the day of deposit through
day of maturity, calculated on a
365-day basis (366 days in a leap year). You will earn the disclosed
rate until the first maturity date
of the CD. If the interest is not paid, it will be credited to your
certificate at maturity.

You may elect to have your interest paid quarterly, semi-annually,
annually or at maturity.
The Annual Percentage Yield assumes funds remain on deposit for a full
calendar year. Any withdrawal will reduce earnings.

Rates on CDs will vary based on the term requested. CDs are offered in
monthly increments in the following terms:
12 months, 24 months, 36 months and 60 months. The interest rate and
Annual Percentage Yield for a CD are determined
on the day we receive your deposit. Our current interest rate and
Annual Percentage Yield are included in the Interest Rate Schedule.
(www.thetrangroup.com/savings.htm)

Renewals
Your CD will automatically renew with like terms on each succeeding
maturity date, unless otherwise indicated.
For each renewal term, we will pay interest based upon the interest
rate and Annual Percentage Yield disclosed
in the Interest Rate Schedule as of the maturity date.

You will have 10 calendar days after the maturity date to withdraw
funds without penalty.
The CD will not automatically renew if you ask for payment within 10
calendar days of the maturity date.
The interest that would accrue during the 10 day "grace period" will
not be paid out to you if the CD is redeemed.

Limitations on Transactions
You may not make additional deposits to a CD before the maturity date.
If you choose to withdraw principal funds
from a CD prior to maturity, the withdrawal is subject to penalty.
Early withdrawal penalties are as follows:


If the CD has a maturity length of 12 months the penalty will be one
month's interest.

If the CD has a maturity length of over 12 months the penalty will be
three month's interest.

Any premature withdrawal, which reduces the balance below the required
minimum balance, will be considered
a withdrawal of the entire account balance and will be subject to the
penalty prescribed in this section.

The penalties prescribed in this section will not be imposed for a
withdrawal of principal following the
death or adjudication of incompetence or incapacity of any account
owner.

If you might have any questions, do not hesitate to contact.

Best Regards,
James Hodson

This e-mail is intended for the named addressee/s only. It may contain
confidential and /or privileged information.
If you have received this message in error, please let us know and then
delete this message from your system. You
should not copy the message, use it for any purpose or disclose its
contents to anyone.

Tuesday, April 11, 2006, 8:47:50 AM, you wrote:

> I would like some more information on the retail fixed term deposits



> _______________________________
> The above message was sent when you were offline, via your Timpani
site.

> Message sent from IP: 63.19.174.11

[CJsoccerchic]

SCARY still... but if the results were real - what a find!

[sr_ryan1]

sorry to dig up an old post but i just came across this site on google, does anyone have any more info on them?

[brownae5]

The Tran Group have just closed its doors and ran off with all the investments they have collected.



The Tran Group

well there's a shock...

Server not found

Firefox can't find the server at www.thetrangroup.com

[Broken Arrow]

May this thread serve as a warning for similar scams.

[MonkeyMama]

I think the "if it is too good to be true" test easily sniffed this one out.