|
Post by multiaccountmanager on Jan 8, 2019 18:54:25 GMT
I have been waiting nearly 24 hours for a Release Your Investment to take effect.
The funds are in the rolling market at 3.2%
During the day today there was over £1m of lender money at that rate waiting to be matched.
I just logged on and there is stacks of money waiting to be lent !!
What is going on??
Is Ratesetter showing signs of failing and can not release funds?
Here is the email I received yesterday. A small percentage of the money was released.
"Thank you for your request to transfer your matched loans and release your investment:
All funds from your investment in the RateSetter Rolling market.
We will process your request as quickly as we can, but immediate access to your money is not guaranteed. As you are aware, access is always subject to market availability; your matched loans will need to be transferred to another investor before your investment can be released.
We have been able to transfer loans from the Rolling market to the value of £1,347.14. The released investment is now in your holding account. The other loans that you requested to transfer are currently in the queue and will be transferred when liquidity allows. Matched loans will be sold on a “last in, first out basis”, i.e. starting with the most recent contract, regardless of rate.
We will email you to confirm once your other loans have been transferred and your investment released. This will include your capital and accrued interest . "
The funds will then be in your RateSetter holding account and available for you to withdraw.
|
|
tyrex
Posts: 78
Likes: 36
|
Post by tyrex on Jan 8, 2019 19:03:44 GMT
Seems normal to me, last time I carried out a RYI, it took a few days to see the money transferred to my holding account.
|
|
|
Post by multiaccountmanager on Jan 8, 2019 19:07:09 GMT
It has been same day, within a couple of hours, ever since i started here some years ago.
|
|
tyrex
Posts: 78
Likes: 36
|
Post by tyrex on Jan 8, 2019 19:14:02 GMT
Fair enough, maybe I got unlucky, but given the wording on their RYI page, my expectations of a fast return were pretty low to start with.
|
|
|
Post by gravitykillz on Jan 8, 2019 20:02:08 GMT
That is normal. Takes 24 hours to get to the holding account. Nothing to worry about.
|
|
Stonk
Stonking
Posts: 735
Likes: 658
|
Post by Stonk on Jan 8, 2019 21:42:13 GMT
It didn't used to be like that. I have done numerous releases from the Rolling market, although none within the last 4 months. Most of them were completed within seconds; almost all within 5 minutes. The longest took a couple of hours, and that was highly exceptional.
|
|
|
Post by mukiwa on Jan 8, 2019 22:36:33 GMT
I pulled near £500k a couple of weeks ago from rolling, took less than 24hrs. Back into bank account within 48hrs.
|
|
tyrex
Posts: 78
Likes: 36
|
Post by tyrex on Jan 8, 2019 22:39:18 GMT
I pulled near £500k a couple of weeks ago from rolling, took less than 24hrs. Back into bank account within 48hrs. Ah, so you're the one responsible for the recent improvement in rolling lending rates
|
|
|
Post by multiaccountmanager on Jan 9, 2019 7:52:18 GMT
I am trying to withdraw £3k from one account. It has now been 36 hours and not yet in holding account. Something has evidently changed!
|
|
lobster
Member of DD Central
Posts: 636
Likes: 467
|
Post by lobster on Jan 9, 2019 8:07:14 GMT
I am trying to withdraw £3k from one account. It has now been 36 hours and not yet in holding account. Something has evidently changed! That does seem rather strange to me. I'd give them a ring, and see what they have to say for themselves. I for one am planning on a withdrawal imminently, and was rather relying on fast access to my cash. Perhaps I'm being optimistic ?! If you do choose to contact them, perhaps you could let us know the outcome if you wouldn't mind ? In any case, best of luck accessing the rest of your funds a.s.a.p
|
|
liso
Member of DD Central
Posts: 387
Likes: 394
|
Post by liso on Jan 9, 2019 9:18:07 GMT
I am trying to withdraw £3k from one account. It has now been 36 hours and not yet in holding account. Something has evidently changed! I asked to withdraw 3K on the same day as you (I think!). The funds were transferred to my holding account within an hour and in the bank the following day. Maybe best if you contact RS directly. Seems something's amiss with your withdrawal.
|
|
aju
Member of DD Central
Posts: 3,480
Likes: 917
|
Post by aju on Jan 9, 2019 11:15:49 GMT
I pulled near £500k a couple of weeks ago from rolling, took less than 24hrs. Back into bank account within 48hrs. Ah, so you're the one responsible for the recent improvement in rolling lending rates Flash git
|
|
|
Post by multiaccountmanager on Jan 9, 2019 12:46:39 GMT
I am trying to withdraw £3k from one account. It has now been 36 hours and not yet in holding account. Something has evidently changed! I asked to withdraw 3K on the same day as you (I think!). The funds were transferred to my holding account within an hour and in the bank the following day. Maybe best if you contact RS directly. Seems something's amiss with your withdrawal. I have called them about another account where £300 is stuck in the same way. It has been escalated because the person I spoke to did not know why the money had not been released. Again, it is a partial release problem. I asked for all the money, some came back but not this £300 odd.
|
|
|
Post by gravitykillz on Jan 9, 2019 12:50:36 GMT
Im sure it will be resolved by the end of today. Ratesetter is not exactly short of cash. They just raise rates and millions more pour in.
|
|
rscal
Posts: 882
Likes: 484
|
Post by rscal on Jan 9, 2019 13:50:33 GMT
Just checking the site at random they currently (1.50pm) have 3.5mill at 3.0 to lend on the rolling and 14000 individual orders. That might account for backlog on the withdrawal of funds.
|
|