pandj
New Member
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Post by pandj on Aug 20, 2018 9:30:32 GMT
Perhaps someone on this forum could answer this query. On two occasions I have had money that had been returned to my holding account automatically placed on market sometime later. Both times in the early hours. I thought only the account holder could move money from from there. Thanks in anticipation.
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p2pete
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Post by p2pete on Aug 20, 2018 10:06:34 GMT
Same happened to me this morning. It looks like they have had problems with auto reinvest so money went into holding instead of being reinvested and they have then later invested it.
Normally in the early hours of Monday morning about £300K goes on at market rate. It didn't happen this morning, which allowed us to get matches at 6.1%. Then at about 11am, £350K appeared at market rate so they must have fixed the issue now.
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Kyrios
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Post by Kyrios on Aug 20, 2018 10:07:47 GMT
Perhaps someone on this forum could answer this query. On two occasions I have had money that had been returned to my holding account automatically placed on market sometime later. Both times in the early hours. I thought only the account holder could move money from from there. Thanks in anticipation. The same is happening to me all the time. It's extremely painful. Even though I put "holding account" as the reinvestment option, RS keeps reinvesting it for me automatically...
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TheDriver
Member of DD Central
Slightly bonkers
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Post by TheDriver on Aug 20, 2018 10:27:23 GMT
Assuming you are talking about Rolling, I can explain one scenario:
Repayments of less than £10 on a day are NOT reinvested due to being below the minimum contract amount. However, they seem to be flagged internally so that when further repayments are received bringing the total above the minimum, the whole lot is put up for reinvestment.
This happened to me the other day, and took me rather by surprise as most of my (few) repayments are above that amount, appear in the queue and I duly cancel them which then stay in holding and do not get reinvested - I don't want the "noise" of many small contracts cluttering up my screens! I calculated the relevant figures to confirm the above at the time.
HtH
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coogaruk
Hello everyone! Anyone remember me?
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Post by coogaruk on Aug 20, 2018 11:52:20 GMT
Even though I put "holding account" as the reinvestment option, RS keeps reinvesting it for me automatically... This happened to me one day last week. Even though I have 5 year capital & interest & Rolling interest all directed to holding, RS scooped it all up and placed an order on the Rolling Market with it. The total amount involved was tiny so I let it go but this sort of thing shouldn't be happening in a fully authorised and regulated environment.
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ashtondav
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Post by ashtondav on Aug 20, 2018 12:23:19 GMT
Well that's weird! Its never happened to me, so is there a "random" reinvestment gremlin in the depths of the RS systems?
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pandj
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Post by pandj on Aug 20, 2018 13:37:01 GMT
Thanks all for your input. At least I now know I'm not misreading the situation. I did fail to mention that it is indeed the rolling (out of control!) market I was referring to. It makes me wonder how many more times this has occurred without my knowledge and my money has been dumped on the market at a lower rate than I would have selected manually a few hours later. Luckily I managed to return it back to holding before it was matched, because it was a lesser sum than my usual investment amount.
Oddly though, at the time I logged on, (about 3 am), the last matched rate showing was 2.8%, but my money had been placed at 4.3%! Surely that can't have been market rate.
Oh well, it looks like that, at least for the time being, I will have to maintain an early morning vigil to monitor the situation.
For those of us who reinvest our interest manually on rolling, it might be a good idea to keep a close eye on our account histories.
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tyrex
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Post by tyrex on Aug 20, 2018 15:16:32 GMT
Thanks all for your input. At least I now know I'm not misreading the situation. I did fail to mention that it is indeed the rolling (out of control!) market I was referring to. It makes me wonder how many more times this has occurred without my knowledge and my money has been dumped on the market at a lower rate than I would have selected manually a few hours later. Luckily I managed to return it back to holding before it was matched, because it was a lesser sum than my usual investment amount. Oddly though, at the time I logged on, (about 3 am), the last matched rate showing was 2.8%, but my money had been placed at 4.3%! Surely that can't have been market rate. Oh well, it looks like that, at least for the time being, I will have to maintain an early morning vigil to monitor the situation. For those of us who reinvest our interest manually on rolling, it might be a good idea to keep a close eye on our account histories. Weighted average for yesterday was 4.3%, so that's why yours was reinvested at that rate today. Rolling practically ran out over the weekend and that pushed up the rates. There was a very large amount of money at 4.3% on there this morning >£1.2m
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