Does rapid return deliver all interest owed.

Its potentially more than a penny for 700+ loans I transfered I think. I've only checked 6 so far and its 15p. They were the biggest loans but who knows what they have done by this decision to use RR.

Thing is usually the most repayments are made at the beginning of the month or the end of the month so because it was on the 13th I could still be losing quite a bit. Anyone where this takes place at the end of the month might be even worse affected. I haven't yet checked the effect on Mrs Aju - still doing monthly stats correlations.

The 15p has already rounded down the individual interest amounts. This is not a decimal place issue I've allowed for that. Some of the bigger loans are at least £20 (They didn't transfer my even higher SG loans) and most have not been active for that long so they will be at the higher end of the interest receipts per loan too.

To actually check it for real will be simpler for zopa than for me as its quite a task to find the individual payments since Zopa removed that part of the loanbook reports online. My statements files are so large that excel also takes a considerable amount of time to reproduce the payments list a for any given loan - even using all 8 threads of my processor. I've just identified the issue. 

Having read your threads and messages so far benaj if you are not worried about <£1 and you sold your loans out using RR then if I am affected you will/could be affected depending on when the loans sold out relative to your biggest repayment days. 

I have reported my findings to zopa and i'll see what they discover it should not take them with their resources - but they are a bit busy at the moment I think!. The site is up and down like a yoyo only today it was not possible to get to loanbook screen one had to find another approach to get both relevant CSV's which fortunately still worked. Not sure if loanbook is still OOS.

aju, I will be very interested to hear the outcome of this one. We have transferred somewhere between 400 and 500 loans, so the sums would be more than a few pence if you are correct. And right now, I am not terribly well-disposed towards Zopa  

Thanks for doing all the hard work. I wouldn't know where to start.

It's demonstrably not "well-known", is it?  A lot of people have never used RR - for many, this transfer to ISA might be their only experience of it. In seven years with Zopa, for example, I've only used it once so will own up to being unfamiliar with the small print. 

But thanks for the information.

So if you don’t mind, have you witnessed any gaining accured interest bought loans that sold via RR? 

I get what you are saying but in my case I was not given that information. I was not selling my loans Zopa was using that process, I was not aware of RR being used until I noticed that was how Mrs AJu's was done, hers was before mine. Not sure what the 3 days means as some of mine are from the beginning of the month. I think I'll go back and check that is the case. If it's true and applies in this though that's what Zopa will response will say..

Thanks for the pointer I will check it out.
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So I just checked out the FAQ that was given during the sign up to the transfer process. I saved everything ;-)
and I have scanned the whole thing for anything that says I will not get interest on the loans. I guess, semantics wise, the start date is the deciding factor so for me its when I got the email informing me it will start in 2 working days. I'll go back and see what the dates were on the 6 I checked to see if there is a correlation. 

Perhaps "continue as normal" means you will receive interest on the relevant day for each loan and if you then sell on say a day after that then you lose interest if its not on the right date. A small part of me thinks that fuzzyiceberg and Greenwood2 may be right in that they have scoured the bowels and found something or even worse fuzzy thinks everyone knows about this, except myself and misotu oh and Mrs Aju - she's not very happy and suggested poking the FCA, again;-).

The only thing I have on my side, I think, is that I have signed a contract to a specific sale where I was not made aware that this was RR or that the sale would mean I might not get all the interest I think I am due and nothing in that contract - I have a PDF copy, clearly states this. It's not acceptable to later on point me at a FAQ after the fact that indicates what has happened is acceptable. I should have been point at that actual effect and perhaps even advised this may be costly. I'm definitely wondering what the FCA would think of that approach. 

I would point out that I had to have a number of attempts at find that FAQ and only narrowed it down by using the term "accrued interest". If it hadn't have been for Greenwood2's response above I might not even have considered that as a search item.

What I will say though is that when Zopa had their own forum and Zopa people were frequenting it they might have picked up some of these threads and tried to change things. I'm not sure these days they give a d*a*m*n or worse have the time or inclination to.