A lot of the thinking seems to me to be influenced by cooperative social centres in Basque Country, which wold be an absolutely brilliant thing for Caernarfon, and a brilliant thing for learners in particular to have access to…
They’re almost half-way to their target - it would be fantastic if we could help them get there - and they’ve promised that they’ll do discounts for stays for their investors, so this looks like a potentially brilliant way to contribute to a superb project AND get well priced visits to Caernarfon…
If they can get it to happen it looks as though it could be a hugely valuable thing - and, of course, it will all operate through the medium of Welsh, and help normalise exposure to the language for tourists…
I understand that it’s possible for people who can’t afford £250 to buy a share to pay over the course of 2 years - I’ve asked for more details about this…
I read about this a couple of months ago Aran . A really great idea . I hope they manage to get it off the ground. I have been considering investing myself. Caernarfon and the Welsh language could really benefit from this .
I read about this a while back as well, when I was browsing about thinking about what we could do in Llandysul IF the community manages to buy the old school buildings. If Caernarfon can make it fly, it could be a model for us!
I have a weird question, Aran. On the form to contribute (on the website), below the Swm i Fuddsoddi (sum to invest), they have the word “Buddsoddi” (investment?) with three tick-box choices below. I can understand two of them - Siec and Archeb Banc - but what is “BACS”? (I must assume it is an abbreviation that would be well-knowin the UK, but I have NO idea!) Thanks!
Yes, it does look potentially like a great model for other places in Wales (and beyond perhaps?). I really like the independent and cooperative aspect, and if it could promote and revitalise the language as in the Basque country, that would be great. Perhaps help provide a focus for the language in areas such as Powis, where it isn’t that easy to socialise in Welsh after leaving school.
Probably. I think BACS is pretty specifically a British system, and it’s not the only one we have for bank transfers. Another one (more recent) is “Faster Payments” which is quicker than BACS and (apparently) goes by a different mechanism. Yet another one (older) is CHAPS, usually used for large transactions like a house purchase.
[quote=“Cilgwri, post:9, topic:8622, full:true”]
BACS stands for Bankers Automated Clearing Services and it’s away of transferring money between banks electronically so you don’t need cheques or cash.[/quote]
I think that sounds like what is called “ACH” here, though I have no idea exactly what that stands for. I do know that it is a bank-to-bank money transfer (without checks or cash).
The larger question is whether, someone in the US (like me) could use the BACS choice to “buy a share” in this (or any other) enterprise in Britain. And if not, would there be a way for any of us on this side of the pond to be involved?
Yes, I think so - I suspect they’re using it generically there to refer to any electronic transfer between banks - if not, in due course I’m sure they’ll set up something like Paypal if they have people wanting to do international transfers, or even transferwise.com…
There is something called an IBAN number, which can be found out from the bank where the account is held. You might also still need what’s called the sort code, and also the account number. (The latter 2 are what are needed for BACS transactions within the UK).
Something about IBANs here: (this happens to be from Barclays, but all major banks have them):
So I sent an email to the address on the website asking for more information, specifically about investing from this side of the pond. I got a very kind reply today that indicates that they are considering taking contributions online (presumably, though he wasn’t clear, by credit card in some way). I asked a few more questions in my reply to him, but I think I’m on track to become a member (shareholder), assuming the details can be worked out.
FYI - from Llety Arall’s facebook page this morning:
[quote] Ar Ddiwrnod Shwmae Sumae, rydym wedi cael ein buddsoddwr cyntaf rhyngwladol! Diolch i Sionned sydd wedi bod yn dysgu Cymraeg ar wefan Say Something in Welsh ac sy’n byw yn Columbia Missouri. Dyma ddywedodd Sionned am ei rhesymau am fuddsoddi:
‘Dw i wrth fy modd o gael y cyfle i gefnogi prosiect Llety Arall yng Nghaernarfon. Bydd yn adnodd gwych ar gyfer y gymuned ac ymwelwyr. Dw i’n edrych ymlaen at y cyfle i aros yno yn y dyfodol.’
Dilynwch esiampl Sionned a buddsoddwch ar-lein[/quote]
The auto-translation on facebook isn’t very good. Basically what this says is:
[quote]On Shwmae Su’mae Day we have received our first international investor! Thanks to Sionned who has been learning Welsh on the website Say Something in Welsh and who lives in Columbia, Missouri. Here’s what Sionned said about her reason for investing:
“I’m delighted to have the opportunity to invest in the Llety Arall project in Caernarfon. It will be a great resource for the community and visitors. I am looking forward to the chance to stay there in the future.”
Follow Sionned’s example and invest online.[/quote]