bloodycat
Member of DD Central
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Post by bloodycat on Aug 1, 2016 9:09:01 GMT
Just went to check my account balance to update my totals in my personal finance accounts and was rather surprised to see that it is exactly the same as the last time I made an entry, even more surprised when I noted that actually I must have been rather slack as the last time I reconciled the account was 1st of May. Since I haven't had any defaults since April it can't be an amazing coincidence of defaults exactly matching gains.
Looks like I'm going to have to trawl through several months worth of statements to see what my balance really should be and get them to correct it. I think the shortfall is somewhere around £60, not a hugesum but still better in my pocket than theirs.
I haven't been paying too much attention to this account for quite some while, having reduced my investment some time ago due to the relatively poor returns for the risk , the amount of effort required (I refuse to use auto-bodge ) and that it is difficult to properly keep track of returns (I've tended to resort to just checking that the total monthly interest looks about right).
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hendragon
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Post by hendragon on Aug 1, 2016 9:21:19 GMT
There have been quite a few threads as to the accuracy and also the probity of FC's maintainance of accounts. I have has a look back through the forum and cannot find the thread where an experienced investor was going to make a complaint to the FCA. Anyone recall this?
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blender
Member of DD Central
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Post by blender on Aug 1, 2016 19:11:13 GMT
Just went to check my account balance to update my totals in my personal finance accounts and was rather surprised to see that it is exactly the same as the last time I made an entry, even more surprised when I noted that actually I must have been rather slack as the last time I reconciled the account was 1st of May. Since I haven't had any defaults since April it can't be an amazing coincidence of defaults exactly matching gains. Looks like I'm going to have to trawl through several months worth of statements to see what my balance really should be and get them to correct it. I think the shortfall is somewhere around £60, not a hugesum but still better in my pocket than theirs. I haven't been paying too much attention to this account for quite some while, having reduced my investment some time ago due to the relatively poor returns for the risk , the amount of effort required (I refuse to use auto-bodge ) and that it is difficult to properly keep track of returns (I've tended to resort to just checking that the total monthly interest looks about right). You may have received a visit from Betty Bot the account reconciler. Check that your net investment plus all time earnings equals your funding circle total, and check that also from your 1st May figures. You may have had £60 too much in May, usually from double counted sales.
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bloodycat
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Post by bloodycat on Aug 1, 2016 22:21:20 GMT
You may have received a visit from Betty Bot the account reconciler. Check that your net investment plus all time earnings equals your funding circle total, and check that also from your 1st May figures. You may have had £60 too much in May, usually from double counted sales. Hmm, you may be right. The numbers all add up but it is not clear where the discrepancy occurred, there are no months prior to May where I appeared to have an unusually high monthly gain (several where it was virtually non-existent due to defaults). I've downloaded all my monthly transaction statements not that that they are particularly helpful.
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bloodycat
Member of DD Central
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Post by bloodycat on Aug 2, 2016 18:23:59 GMT
Well they have got back to me and confirmed my account is properly reconciled and telling me what my balance was at the start of each month from May (which is not what their website claimed it was at the time).
Of course they failed to acknowledge that their website might have been displaying incorrect figures for a significant period of time.
Might have to spend the weekend remembering how to use VBA so I can convert their transaction statements into something useful so I can check what my balance should be.
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blender
Member of DD Central
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Post by blender on Aug 2, 2016 21:18:55 GMT
A bit more sympathy and understanding required, bloodycat. Think how hard it must be going through an FCA approval process with a site which systematically screws up so many account balances, which have to be put right eventually, and quietly, and preferably without anyone noticing.
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