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Post by cassiopeia on Mar 20, 2020 10:44:18 GMT
I'm rather confused about waiting times for withdrawal from each of the following categories
a) Holding account (RS claim to still transfer this within a day)
b) the money on the market (is this the same as a) if so why not?
c) money invested (I can appreciate this takes some time)
what is everyone's experiences of a), b) and c)
The RS system seems to accept type b) withdrawals but nothing has appeared in my bank account for last 3 days. Are they just re-investing it regardless?
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Post by scepticalinvestor on Mar 20, 2020 10:46:33 GMT
Haha we live in strange times!
Across the pond the party of small government and personal responsibility is pulling out all the stops to bail out the economy, who's to say our government won't contemplate this (in one form or the other) to avoid the total collapse of the P2P sector.
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r00lish67
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Post by r00lish67 on Mar 20, 2020 10:48:15 GMT
I'm rather confused about waiting times for withdrawal from each of the following categories a) Holding account (RS claim to still transfer this within a day) Yes, in a day.b) the money on the market (is this the same as a) if so why not? Yes, it's the same, can be withdrawn. Note though that access loans automatically rollover, so you may for short periods see money on the market that cannot be withdrawn as it has already been matched. They do still amortise though, so you will have access repayments come through that you can withdraw (make sure you set reinvestment high enough not to be automatically reinvested!)c) money invested (I can appreciate this takes some time) All different timescales depending on the market. RS currently processing Access rqsts from the 9th March. 1/5 year seem faster, but no view of that.what is everyone's experiences of a), b) and c) The RS system seems to accept type b) withdrawals but nothing has appeared in my bank account for last 3 days. Are they just re-investing it regardless? They will proceed as you've instructed in your reinvestment instructions until your RYI request is actioned.My take above
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r00lish67
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Post by r00lish67 on Mar 20, 2020 10:53:58 GMT
Haha we live in strange times! Across the pond the party of small government and personal responsibility is pulling out all the stops to bail out the economy, who's to say our government won't contemplate this (in one form or the other) to avoid the total collapse of the P2P sector. Mate, seriously. My Vanguard World fund has dropped quite a lot in recent weeks, do you think the Government is going to step in and guarantee my original capital in that too? If not, what's the difference? This, said, it is possible that some p2p firms may have some sort of government assistance as with any other firm struggling at present, and it is possible that some government backed loans might be routed through P2P somehow. But that is not anywhere near the same thing as FSCS protection for what are and always were high risk investments.
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Post by scepticalinvestor on Mar 20, 2020 11:16:31 GMT
Haha we live in strange times! Across the pond the party of small government and personal responsibility is pulling out all the stops to bail out the economy, who's to say our government won't contemplate this (in one form or the other) to avoid the total collapse of the P2P sector. Mate, seriously. My Vanguard World fund has dropped quite a lot in recent weeks, do you think the Government is going to step in and guarantee my original capital in that too? If not, what's the difference? This, said, it is possible that some p2p firms may have some sort of government assistance as with any other firm struggling at present, and it is possible that some government backed loans might be routed through P2P somehow. But that is not anywhere near the same thing as FSCS protection for what are and always were high risk investments. I don't know mate. With all the government largesse being conjured out of thin air, one can only hope that it reaches the P2P sector as well, in one form or the other.
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Post by mattg on Mar 20, 2020 12:10:55 GMT
Hi all. Has anyone had their RYI funds released from an Access account today? Please update the thread as to when you put in the request. Mine is from the 11th.
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Post by throwaway2501 on Mar 20, 2020 12:48:36 GMT
Hi all. Has anyone had their RYI funds released from an Access account today? Please update the thread as to when you put in the request. Mine is from the 11th. Yes would be great for people to keep updating everyday. I am still waiting for requests made on 9 March (at 4:00 and 4:03 PM). I’m also not sure whether there will be any that are processed on weekends?
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savernake
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Post by savernake on Mar 20, 2020 12:55:25 GMT
Hi all. Has anyone had their RYI funds released from an Access account today? Please update the thread as to when you put in the request. Mine is from the 11th. Yes would be great for people to keep updating everyday. I am still waiting for requests made on 9 March (at 4:00 and 4:03 PM). I’m also not sure whether there will be any that are processed on weekends? How do you know the exact minute you placed the withdrawal request? I can't see any information about my request anywhere on my dashboard.
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star dust
Member of DD Central
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Post by star dust on Mar 20, 2020 13:15:55 GMT
Yes would be great for people to keep updating everyday. I am still waiting for requests made on 9 March (at 4:00 and 4:03 PM). I’m also not sure whether there will be any that are processed on weekends? How do you know the exact minute you placed the withdrawal request? I can't see any information about my request anywhere on my dashboard. I don't know how throwaway2501 did, but I took screenshots of mine Always try to remember to do so for anything significant like that, just in case.
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Stonk
Stonking
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Post by Stonk on Mar 20, 2020 14:42:55 GMT
Mate, seriously. My Vanguard World fund has dropped quite a lot in recent weeks, do you think the Government is going to step in and guarantee my original capital in that too? If not, what's the difference? This, said, it is possible that some p2p firms may have some sort of government assistance as with any other firm struggling at present, and it is possible that some government backed loans might be routed through P2P somehow. But that is not anywhere near the same thing as FSCS protection for what are and always were high risk investments. I don't know mate. With all the government largesse being conjured out of thin air, one can only hope that it reaches the P2P sector as well, in one form or the other.
Some of my shares are down a bit. And my pension fund. I wonder if the government will compensate me ...
To be absolutely honest, I think they will almost have a moral responsibility to bail out individuals who've had their pensions depleted, particularly those near to the point of needing it. For years and years, governments have been pressuring us to invest large sums in pension funds, and financial advisers have been virtually compelled to advise it. I always thought it was a bad idea.
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Post by throwaway2501 on Mar 20, 2020 16:16:07 GMT
Very pleased to say that mine came through earlier. So requested at 16:00 and 16:03 on 9 March and then fully processed at 14:48 and 1452 today I know the exact minute I requested them as I phone RateSetter earlier today and they were able to tell me. Just hang in there everyone - RateSetter will get this done!
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jlend
Member of DD Central
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Post by jlend on Mar 20, 2020 18:00:34 GMT
Very pleased to say that mine came through earlier. So requested at 16:00 and 16:03 on 9 March and then fully processed at 14:48 and 1452 today I know the exact minute I requested them as I phone RateSetter earlier today and they were able to tell me. Just hang in there everyone - RateSetter will get this done! Agreed. RS are doing a good job keeping lower levels of lending going and processing sellouts. For every sellout it means another lender is willing to reinvest.
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Post by shanghaiscouse on Mar 20, 2020 18:27:03 GMT
I don't know mate. With all the government largesse being conjured out of thin air, one can only hope that it reaches the P2P sector as well, in one form or the other.
Some of my shares are down a bit. And my pension fund. I wonder if the government will compensate me ...
To be absolutely honest, I think they will almost have a moral responsibility to bail out individuals who've had their pensions depleted, particularly those near to the point of needing it. For years and years, governments have been pressuring us to invest large sums in pension funds, and financial advisers have been virtually compelled to advise it. I always thought it was a bad idea.
The massive debt being created by this bail out will be passed on to you all in one way or another. We hadn't even started paying down debt from 2008 yet, now this is added to it. Whether it is through inflation, devaluation, higher taxes, your money will have to be taken from you to cover this.
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Post by RateSetter on Mar 20, 2020 19:19:29 GMT
Good evening everyone. Today, we delivered a further £0.4m. We will provide the next update on Monday, which will include delivery from over the weekend.
The full updated RateSetter Notice is below.
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db
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Post by db on Mar 20, 2020 19:30:14 GMT
I put in my Access and 1 year requests in on the morning of the 11th. Nothing yet. I really, REALLY need this to come through. What are your thoughts on this taking a month? Likely? Thoughts really appreciated. Additionally, will larger numbers get pushed back further? Thanks, you guys are awesome
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