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Post by nutfield on Aug 13, 2018 13:23:53 GMT
............. we have decided to switch-off the alerts for all investments by default from 8th August and instead, we will include information on your average projected returns in your monthly statement, starting with the August statement next month.
If you wish to continue receiving Matched Order alerts, you can update the contact preferences by logging into your account. You can also view information about your average projected returns at any time by logging in, scrolling down and expanding the section titled “Your Portfolio” in the horizontal purple bars in the centre of the screen."
Maybe this note buried in the middle of a routine monthly report wasn't the best way of communicating this important change? In "Yes minister" Sir Humphry used to bury the really important stuff in the middle of the last red box!
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travolta
Member of DD Central
Posts: 1,460
Likes: 1,172
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Post by travolta on Aug 13, 2018 13:40:46 GMT
hmmm ,I go in every day and clear my account manually and will continue to do so until its empty. Recommend a high income monthly stock @ 6.57%.
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coogaruk
Hello everyone! Anyone remember me?
Posts: 703
Likes: 463
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Post by coogaruk on Aug 13, 2018 14:23:54 GMT
Good afternoon everyone. Just to clarify, we have switched-off matched order notifications as of 8 August and this was included in investors' July statements at the start of this month. This is getting ridiculous.
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lara
Posts: 345
Likes: 300
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Post by lara on Aug 13, 2018 14:40:18 GMT
Good afternoon everyone. Just to clarify, we have switched-off matched order notifications as of 8 August and this was included in investors' July statements at the start of this month. This is getting ridiculous. It got ridiculous back in June.
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coogaruk
Hello everyone! Anyone remember me?
Posts: 703
Likes: 463
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Post by coogaruk on Aug 13, 2018 15:09:28 GMT
It got ridiculous back in June. Turning off something which I had previously decided I wanted because they decided I no longer wanted it. Hmmm. How long before they start switching my orders from the market(s) I placed them onto to another on a similar whim?
(and then letting me know by way of the small print included on a later monthly statement)
Statement: The clue is in the name!
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rscal
Posts: 916
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Post by rscal on Aug 14, 2018 14:19:03 GMT
I thought I heard/read/imagined? that, as part of the change RS are making, they don't intend to send matched-rolling notifications any longer since these can be taken for granted (Anyone?) Mine and Mrs Nutfields were in the 5-year loans Yes, sorry 'bout that. The switch is global, not restricted to the new style rollovers alone, I did not read closely enuff. This is a poor show by Ratesetter (especailly claiming 'due to customer feedback') The correct technical fix was to create an additional bolierplate letter just for these matched-rollovers and allow customers to contiinue to receive 'new loan' notifications without the drag of seeing everything. I think some of the difficulty is because these rolling loans are set up as if new (so that we can pick them off after a day) when they are existing.
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josephg
New Member
Posts: 5
Likes: 3
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Post by josephg on Aug 30, 2018 0:13:15 GMT
In response to customer feedback, we have decided to switch-off the alerts for all investments by default... If you wish to continue receiving Matched Order alerts, you can update the contact preferences by logging into your account. Shouldn't it have been the other way around? I set my alert emails because I wanted them. Those who didn't want those could have been informed about their Contact Preferences settings. If it wasn't for this forum, I wouldn't have known about this! I had logged in earlier and was surprised to see so many orders/transactions and no emails for the past many weeks. I had just assumed that it was the usual tactic of chasing the bottom of the barrel rates, and none of my orders might be matching. No one asked me for feedback for all these wonderful changes they are putting in place. Wonder if RateSetter accepts feedback from only some special customers?
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spiral
Member of DD Central
Posts: 909 
Likes: 456
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Post by spiral on Aug 30, 2018 7:51:16 GMT
From a personal perspective, these lack of emails are losing them money. Not so much the early repayment but for me its the matched email. Because I have not been getting these I have been withdrawing weekly assuming I've not been getting matches. My repayments are set to 6.0% in 1yr.
After reading the other day that matches went up to 8.4 in this market I took a look to see how much I had matched.
To my surprise, I spotted that I'd matched a fair chunk in July that I was not aware of. I had assumed that I'd not matched anything this year!
Had I realised that these funds were matching, I wouldn't have been so quick to withdraw and RS would only of had to pay 6.0% on some of the money they lent out at 8%+. 
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Post by warwickshirelad on Sept 11, 2018 9:32:32 GMT
I too have suffered early repayment without notification. On 01/09/18 I matched 17 5yr contracts at 6%. Of those 4 were secondhand (37 months left), and the remainder brand new loans of 61 months. One of those new loans repaid on 05/09/18 (after 4 days), without any notification. I queried this with RS who said on 07/09/18: "In regards to your loans being paid off early, we have been aware that there have been issues regarding sending email notifications to our investors when a loan is paid off early. We have raised this with our technical team and this issue has now been fixed." I have just had two more of that tranche of new loans repaid early (after 10 days), but this time I did receive email notification. So the technical issue does appear to be fixed (for now, for me). I am also a bit concerned about so many ostensibly 5 year loans being repaid within a few days. So far of my 13 new contracts matched on 01/09/18 at 6%, 3 of them (23%) have already repaid. Is this really borrowers paying off their long term loans after a few days?
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tyrex
Posts: 78
Likes: 36
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Post by tyrex on Sept 11, 2018 9:58:46 GMT
I am also a bit concerned about so many ostensibly 5 year loans being repaid within a few days. So far of my 13 new contracts matched on 01/09/18 at 6%, 3 of them (23%) have already repaid.
Is this really borrowers paying off their long term loans after a few days?
Officially, the answer is probably yes. Unofficially, it's because RS is moving the loan to someone else/different market at a lower rate. It's all about the margins, don't ya know.
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