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Post by befuddled on Apr 23, 2019 11:45:16 GMT
Does anyone have any good ideas on this...
I have a "last years" RS ISA which was happily reinvesting several hundred pounds a month in interest/repayments at a limit of 6.2%
Now rates have dropped the interest/payments are accruing as cash.
I could temporarily dump in Everyday until the rates recover, but, in doing that, when rates do recover the time taken to get out of Everyday may mean rates have decreased before I can put in 5yr
So I have decided to remove the ISA interest/repayments from RS completely, on the basis I can instantly invest in the 5yr ISA again when the time is right...
...but it seems like hard work. I would be happy with the Everday MR, but not with the time it takes to extract money from Everyday acct
Does anyone have same problem and a better strategy to deal with this
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Post by Deleted on Apr 23, 2019 12:34:37 GMT
By Everyday, do you really mean Rolling but within the RS ISA? Everyday rates are the same as in the ISA without the tax-free wrapper.
I have always found the sale of loans from Rolling to be available within a couple of minutes, but obviously that may not always be the case.
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ceejay
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Post by ceejay on Apr 23, 2019 12:53:35 GMT
as @inv11 says, I think you may mean ISA Rolling rather than "Everyday" which means non-ISA...
And you're right, its a problem with the RS ISA. Rates vary - they are low at the moment and may stay there for a few months, give or take the odd blip.
But I'm not sure what you mean about the time to take money out - if its in Rolling then you can have it back pretty much as soon as you want.
FWIW, my solution to the RS ISA problem was ... to give up on it altogether! It's too hard - I just transferred it all out to another ISA.
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Post by befuddled on Apr 23, 2019 13:12:32 GMT
By Everyday, do you really mean Rolling but within the RS ISA? Everyday rates are the same as in the ISA without the tax-free wrapper. I have always found the sale of loans from Rolling to be available within a couple of minutes, but obviously that may not always be the case. Yes, sorry, I did mean "Rolling". I hit the RYI just before I made I made the initial post above - and it's still a "Pending Request" over an hour later...., I am hoping they are not going to become an "FC" when it comes to withdrawing funds, but in any event, even if it's a one off glitch, does not give me enough confidence to use Rolling as a quick access account....
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Post by Deleted on Apr 23, 2019 13:34:56 GMT
I suspect RS systems are busy processing repayments for today and the 4-day weekend. Cashing in is normally almost instant in my experience.
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corto
Member of DD Central
one-syllabistic
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Post by corto on Apr 23, 2019 13:37:58 GMT
Got several k parked money out of Rolling within seconds a few days ago.
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Stonk
Stonking
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Post by Stonk on Apr 23, 2019 17:41:25 GMT
By Everyday, do you really mean Rolling but within the RS ISA? Everyday rates are the same as in the ISA without the tax-free wrapper. I have always found the sale of loans from Rolling to be available within a couple of minutes, but obviously that may not always be the case. Yes, sorry, I did mean "Rolling". I hit the RYI just before I made I made the initial post above - and it's still a "Pending Request" over an hour later...., I am hoping they are not going to become an "FC" when it comes to withdrawing funds, but in any event, even if it's a one off glitch, does not give me enough confidence to use Rolling as a quick access account....
No, it's not becoming like FC. The delay in RYI-ing is normal when RS's repayments job is running behind, which today, after the super-long weekend, it certainly is! Don't expect your RYI to be dealt with until the repayments are complete, which (as of 18:40) still looks a long way off. And then add a bit more time, because you won't be the only one in the queue.
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Post by elephantrosie on Apr 30, 2019 6:40:44 GMT
5 year rate at 5% at the time of writing this.
back to TS, i cannot be bothered with withdrawing money, and then re-depositing them when the rate is high. unless youve got 6 figures in the it, a few % spread out within a year make it a negligible amount. what do others think?
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r00lish67
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Post by r00lish67 on Apr 30, 2019 8:49:04 GMT
5 year rate at 5% at the time of writing this. back to TS, i cannot be bothered with withdrawing money, and then re-depositing them when the rate is high. unless youve got 6 figures in the it, a few % spread out within a year make it a negligible amount. what do others think? I think "what is TS?" I also think that yes I can be bothered, personally. It's your money, do as you choose of course.
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smezz
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Post by smezz on Apr 30, 2019 13:53:31 GMT
Blimey! £11.6M on 5 year lending queue!
Thought some of them would have gone away by now.
Need to get volume down to about £3M I think before rates get back to 6.n +.
Can move quickly but looks like a long wait a.t.m.
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ashtondav
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Post by ashtondav on Apr 30, 2019 15:04:12 GMT
The dumb money will be flooding in for another two months yet. I’m withdrawing any cash and going to LW.
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benaj
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Post by benaj on Apr 30, 2019 15:22:11 GMT
The dumb money will be flooding in for another two months yet. I’m withdrawing any cash and going to LW. I don't supply money to 5 year market due to flooding, but I can't make a better choice so take the rolling rate instead when other platforms limits used up.
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iRobot
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Post by iRobot on Apr 30, 2019 15:40:22 GMT
5 year rate at 5% at the time of writing this. back to TS, i cannot be bothered with withdrawing money, and then re-depositing them when the rate is high. unless youve got 6 figures in the it, a few % spread out within a year make it a negligible amount. what do others think? I think there is still a place for capitalisation, even in modern media formats.
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