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Post by Duane Dibley on Aug 21, 2014 19:43:50 GMT
It's been five days now since I requested a withdrawal and still no sign. Even if it's done on Monday it will mean it's over a week - not good enough really in my opinion. I hope it's not a sign of things to come, in the past Saving Stream were amongst the best platforms for customer service, now they're amongst the worst. I suspect it's because they've grown at such an unexpected rate that they can no longer cope with the administrative side of the business. Over 10 days now and still nothing. Emails ignored. Phone calls unanswered. Now we'll see whether they respond to my written complaint. I do wonder whether Lendy have got a cash-flow problem, this was a rather large withdrawal and I've had a couple of smaller ones processed successfully since. Hopefully now they've had an influx of cash through PBL007 they'll have sufficient funds to process all outstanding withdrawals.
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Post by notaclue on Aug 21, 2014 21:12:40 GMT
Well they have been logged into the forum for a while so they should have seen your post!
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Post by savingstream on Aug 21, 2014 21:18:38 GMT
Dear Duane Dibley, Saving Stream has no cash flow problems, (do investors really need to see bank balance figures?). We process a high value of deposits and withdrawals on a daily basis which I am sure other forums members/investors can attest to. Please raise your account issue through the standard support channel and we will deal with your issue as quickly as possible. |
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Post by bracknellboy on Aug 21, 2014 21:26:41 GMT
.... (do investors really need to see bank balance figures?). .... when deciding whether or not to lend to a business I would have thought that was a reasonable ask, even expectation. There have been a number of comments recently that investing through SS contractually amounts to lending to SS or Lendy, rather than direct contracts with the underlying borrowers. I may have missed it, but don't believe I have seen any response/comment from SS on that. Are you able to clarify ?
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Post by savingstream on Aug 21, 2014 21:48:24 GMT
Lendy Ltd is not going to publish a screen shot of its bank balance, this would serves no purpose as any Photoshop user knows how easy it would be to alter an image to display any balance figure.
Investing in Saving Stream does contractually amount to investing in Lendy Ltd. There are no underlying contracts between lenders and borrowers. Contracts exist between Investors and Lendy Ltd and contracts exists between Borrowers and Lendy Ltd. Lendy Ltd make no secret of this. All legal charges on assets and property are held by Lendy Ltd. Investors may choose which loan their investment is tied to and these funds are assigned to this loan to be repaid when that loan is repaid. This is why Lendy publishes all valuation documents for each loan to allow investors to make educated investment decisions.
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Aug 21, 2014 22:05:59 GMT
Dear Duane Dibley, Saving Stream has no cash flow problems, (do investors really need to see bank balance figures?). We process a high value of deposits and withdrawals on a daily basis which I am sure other forums members/investors can attest to. Please raise your account issue through the standard support channel and we will deal with your issue as quickly as possible. If I were in Duane Dibley position I'd probably be getting rather annoyed by this point too, so I do hope that situation can be resolved quickly one way or another. I don't know what he considers to be a 'large' withdrawal amount, so my experience may not be relevant, but I can confirm that I had several £thousands withdrawn and in my bank within the day yesterday, and again today, a larger number of £thousands withdrawn and in my bank account this evening.
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Post by Deleted on Aug 21, 2014 22:16:49 GMT
It suggests a one off failure for some unknown reason. I did some more business with SS this evening and my monies have been sorted this evening so I know SS staff have been working this evening out of office hours.
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Post by Duane Dibley on Aug 21, 2014 22:47:08 GMT
Dear Duane Dibley, Saving Stream has no cash flow problems, (do investors really need to see bank balance figures?). We process a high value of deposits and withdrawals on a daily basis which I am sure other forums members/investors can attest to. Please raise your account issue through the standard support channel and we will deal with your issue as quickly as possible. Hmmm well you would say that wouldn't you? I remain unconvinced however, others can draw their own conclusions. What 'standard support channel' would that be, other than email, telephone or letter? How soon is 'as quickly as possible'? 5 days, 10 days, 20 days, 30 days? For many years I've been arbing and bonus-bagging from dozens of bookmakers all over the world. You always know when a bookmaker is in trouble, they'll delay and obfuscate over withdrawals, ignore emails, ask for more information, procrastinate and dawdle, then they'll have another unbelievable offer or great odds to attract new customers and new money simply to pay off the old and the whole sequence starts again. The next thing of course is that the bookie goes bust and the customers lose all their deposits. I wonder whether Charles Ponzi ever bought a boat.
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Post by savingstream on Aug 22, 2014 6:13:02 GMT
Hi Caratacus, please let us know the details of the outstanding withdrawal of which you speak and the date of your last (apparently unanswered) support email?
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Post by bracknellboy on Aug 22, 2014 6:29:49 GMT
Investing in Saving Stream does contractually amount to investing in Lendy Ltd. .......and Lendy Ltd. Lendy Ltd make no secret of this. Thanks for the confirmation. FYI, I had no intention of implying that any secret was made of it. My reason for asking was simply because on another forum a poster had made this point but also wondered whether it was still the case.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Aug 22, 2014 9:35:49 GMT
Hi Caratacus, please let u know the details of the outstanding withdrawal of which you speak and the date of your last (apparently unanswered) support email? . Hes not alone in not receiving replies.If while your looking for Caratacus' communication you come across a contact request from me (4 Aug) regarding account discrepencies/negative balance and a chasing email sent 14 Aug. I wouldn't mind a reply.
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
Posts: 1,370
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Post by ramblin rose on Aug 22, 2014 10:15:24 GMT
I wonder whether the lenders who's emails are getting ignored are actually having their emails go astray somewhere? I've been getting wound up about ignored emails to an entirely different kind of company recently and it has turned out that my emails simply weren't arriving. Something along the line was filtering out my emails and they weren't even getting into their junk mail folders. In my cse, we're still trying to suss out what's going on - some over-zealous spam filtering possibly. Is there any commonality between the email addresses of those affected?
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,870
Likes: 11,097
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Post by ilmoro on Aug 22, 2014 10:32:12 GMT
I wonder whether the lenders who's emails are getting ignored are actually having their emails go astray somewhere? I've been getting wound up about ignored emails to an entirely different kind of company recently and it has turned out response that my emails simply weren't arriving. Something along the line was filtering out my emails and they weren't even getting into their junk mail folders. In my cse, we're still trying to suss out what's going on - some over-zealous spam filtering possibly. Is there any commonality between the email addresses of those affected? Thats a possibility with my email which is long & odd wordly but doesnt explain the lack of response to their own site contact system. I definately got the on page acknowledgement and Ive contacted them & had replies through that means before which seem to preclude falling foul of an internal filter system. Guess well see!
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Post by Deleted on Aug 22, 2014 11:22:44 GMT
Lets hope this can be sorted out today and we get confirmation of that. Postings like this can damage the reputation of a platform and that threatens us all. Confidence and trust is very important.I'm hoping this is just a case of an email stuffing things in spam.
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Post by marek63 on Aug 24, 2014 0:54:09 GMT
There is a telephone number. Saving Stream answer it every time I call; emails can and do go astray and get blocked regularly for any number of reasons; If your email is important then it is important enough to call and check it arrived rather than rely on getting through anti-spam systems. This is becoming a silly thread IMHO.
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