|
Post by multiaccountmanager on Jan 9, 2019 15:34:59 GMT
Not as far as I know. There has been plenty of "money" available to lend according to the queues for the two days I have been waiting for 300 on one account and 3000 on another.
There is either a new systems bug crept in.
Or something is amiss with Ratesetter's liquidity.
The tendency over time has been to make it more difficult to withdraw funds.
It used to be easy to get it next day.
Then it became 6pm so not available for FX deals
Rolling with renewal became locked in for months or years unless going through release your investment
Now release your investment deos not work
Ratesetter published accounts are dreadful
I am reducing my exposure here from now on.......
|
|
|
Post by gravitykillz on Jan 9, 2019 18:12:17 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! Weird. Had a look at your posts and in early December you were posting the same problem with rs. I withdrew money in December and had it in my holding account in 24 hours.
|
|
|
Post by multiaccountmanager on Jan 9, 2019 19:51:28 GMT
I manage quite a few accounts and move money overseas as well. I dont like it when timings change.
In early December I discovered that Ratesetter had changed its timings so money withdrawn from holding account the previous day was only available at about 6pm the next day.
Too late for foreign exchange deals.
There was an annnouncement about that which I did not see.
In the last 48 hours I have discovered that money released frrom my investments might not be available in the holding account the same day.
Both the affected amounts 3000 odd and 300 odd were parts of larger reelases that happeened on the usual tiiming, but for some reason these parts were left behind.
Both sums arrived in the holding account at 17:57 today per automatic emails to me.
That is about 48 hours from Release Your Investment.
I have not yet had a reply to or explanation from the email I sent.
There was plenty of money available according to the queues.
I like systems to be reliable and not subject to guess work.
|
|
|
Post by multiaccountmanager on Jan 14, 2019 11:59:24 GMT
Now I have had a good look at the account where the 3000 odd was held up on a RYI.
According to the "loans repaid" in the portfolio, there is a shortfall of £1150
I received in total £5344 which is correct according to my own figures.
According to RS the total of loans repaid was only £4191
Also, but a minor matter, on checking the interest figures, RS calculate £11.70 whereas I make it £11.86
Does anyone have an explanation for any of this?
|
|
Stonk
Stonking
Posts: 735
Likes: 658
|
Post by Stonk on Jan 14, 2019 20:01:55 GMT
Now I have had a good look at the account where the 3000 odd was held up on a RYI. According to the "loans repaid" in the portfolio, there is a shortfall of £1150 I received in total £5344 which is correct according to my own figures. According to RS the total of loans repaid was only £4191 Also, but a minor matter, on checking the interest figures, RS calculate £11.70 whereas I make it £11.86 Does anyone have an explanation for any of this?
"Loans repaid" does not include loans you sold (or didn't, the last time I looked). It includes loans that ended naturally or ended early while you owned them. Could that explain it?
As for interest, is the difference an exact number of days' worth from what it should be? Could be something like the loan forming just after midnight, and being a day shorter than you think ... ?
|
|
|
Post by multiaccountmanager on Jan 15, 2019 12:57:37 GMT
Now I have had a good look at the account where the 3000 odd was held up on a RYI. According to the "loans repaid" in the portfolio, there is a shortfall of £1150 I received in total £5344 which is correct according to my own figures. According to RS the total of loans repaid was only £4191 Also, but a minor matter, on checking the interest figures, RS calculate £11.70 whereas I make it £11.86 Does anyone have an explanation for any of this?
"Loans repaid" does not include loans you sold (or didn't, the last time I looked). It includes loans that ended naturally or ended early while you owned them. Could that explain it?
Yes that woud explain that.
As for interest, is the difference an exact number of days' worth from what it should be? Could be something like the loan forming just after midnight, and being a day shorter than you think ... ?
I had already thought of that, 1 days interest is about £0.44 so that does not account for it.
I have now had a reply which says
"I can see from your account that your withdrawal request was split into payments due to market liquidity, as you are aware releasing of investments depends on market liquidity.
I apologise for any inconvenience this may have caused you, however, we do advise that depending on market liquidity instant access is not always guaranteed. If we do not have enough investors to fulfill the contracts your investments are contracted to, withdrawals and sellouts will be processed separate or on later dates, like on this occasion. "
I think this is a nonsense reply as I have never had a problem like this and there was over £1m of lender's money waiting to be matched at the same rate or higher than I was trying to borrow.
Looking in to it in more detail it seems funds of about that amount were rolling over in the rolling market that day and it seems more likely the system can't handle a rollover and a RYI on the same day.
|
|
gg
Posts: 83
Likes: 61
|
Post by gg on Jan 16, 2019 21:18:30 GMT
I guess it may depend on the interests rates at which your loans were made. For example, if they were at 2.5% and the lender offers at the time of your RYI request started at. 2.6% or higher then you release could not be actioned.
I think you may need to modify the advice that you give to your clients or have a separate bucket of available cash for you to meet their requirements. If Client A needs £300 released but his/her funds are invested at 3% could you not ‘borrow’ from Client B who has £300 at, for example, 2%?
gg
|
|