upperdeane
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Post by upperdeane on Nov 7, 2019 15:24:42 GMT
Still no early settlement emails. I logged in this morning to see a fairly large 5 year loan I got at nearly 7 percent several months ago had settled yesterday. Had I not logged in I wouldn't have known. Very frustrating. My reinvestment settings from 5 year redirect to 1 year, so hoping for a >5 percent loan surge on the one year soon. Just asked RS for an update and they say ...
"Apologies for not being able to provide you any further updates on this issue. We have been advised by the website development team that they are working on it and they will endeavour in fixing it. However, I am unable to advise you on the progress for this matter. Fantastic!
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upperdeane
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Post by upperdeane on Nov 14, 2019 16:08:05 GMT
Just asked RS for an update and they say ...
"Apologies for not being able to provide you any further updates on this issue. We have been advised by the website development team that they are working on it and they will endeavour in fixing it. However, I am unable to advise you on the progress for this matter. Fantastic! They don't seem to be working on it very quickly. I'm still not getting emails for settled loans or matched loans in one or five year markets.
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Post by kebabby1 on Dec 10, 2019 4:29:05 GMT
Me neither, had a loan complete early 11 days ago and only found out when logged in today for a quick look and noticed 3 other loans have settled and been relent since August without notification.
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aju
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Post by aju on Dec 10, 2019 8:58:38 GMT
They don't seem to be working on it very quickly. I'm still not getting emails for settled loans or matched loans in one or five year markets. Sadly that sounds just like the standard triage answer. I've given up even bothering with RS as it feels like they are not actually that bothered about what we may or may not be happy with. The reality is probably that someone has broken the feed and no one has the time or worse the understanding on how to reinstate it without considerable work.
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upperdeane
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Post by upperdeane on Dec 10, 2019 10:49:36 GMT
They don't seem to be working on it very quickly. I'm still not getting emails for settled loans or matched loans in one or five year markets. Sadly that sounds just like the standard triage answer. I've given up even bothering with RS as it feels like they are not actually that bothered about what we may or may not be happy with. The reality is probably that someone has broken the feed and no one has the time or worse the understanding on how to reinstate it without considerable work. Still not working for me. I'm at the point of thinking they are being devious and not sending them on purpose. After-all they really want to stop the 1 & 5 year markets so the less we keep on using them the better for them. Im not even getting emails of matched orders, nothing in the 1 year comes to me via email, its all manual checking. Grrrrrrrrrrrrrrrrrrrrrrrrr
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Post by Undecided on Dec 10, 2019 11:31:46 GMT
They are not sending them on purpose. This was their reply to me about this:
"With the launch of our new products and as a part of the latest update the repaid loan notification emails has been removed as a business decision.
Investors will receive a new lend order notification when they have placed a new lend order manually and the funds have been matched....
... If you have funds in the holding account balance and have not logged into your account for more than 7 days, then a holding account balance email notification will be sent to customers when their holding account balance is greater than £50 and greater than 1% of the account balance. The frequency of his email will be once per 30 days."
As you say they do seem to be trying to make the use of the 1 and 5 year accounts more difficult. These accounts aren't available to new users so I'm not sure how long they are going to last for us.
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Post by bernythedolt on Dec 10, 2019 13:50:58 GMT
"repaid loan notification emails has been removed as a business decision"
This is unacceptable, Ratesetter, and I'm afraid it just hastens my business decision to sever our relationship.
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aju
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Post by aju on Dec 10, 2019 14:24:13 GMT
"repaid loan notification emails has been removed as a business decision"This is unacceptable, Ratesetter, and I'm afraid it just hastens my business decision to sever our relationship. Really, you think they care about us on here that much it might change their stance - I do agree with your sentiments though. Even if this was a 6/7 figures I'm not sure it would bother them. It's business decision for their purposes as I don't run a business it's not for my best interests. Mind you it is damned annoying but I am not letting them get the better of me and I check most mornings before I read my emails and move stuff where I want/think they should be. (I am moving stuff from E/D to ISA as well so its not much of a burdon) working this closely has enabled me to understand things a bit better under the hood as well. I am not exactly working with the new products other than access - I keep my eye out waiting to get the bonus for 1st year lending.
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Post by bernythedolt on Dec 11, 2019 13:02:51 GMT
"repaid loan notification emails has been removed as a business decision"This is unacceptable, Ratesetter, and I'm afraid it just hastens my business decision to sever our relationship. Really, you think they care about us on here that much it might change their stance - I do agree with your sentiments though. Even if this was a 6/7 figures I'm not sure it would bother them. It's business decision for their purposes as I don't run a business it's not for my best interests. Mind you it is damned annoying but I am not letting them get the better of me and I check most mornings before I read my emails and move stuff where I want/think they should be. (I am moving stuff from E/D to ISA as well so its not much of a burdon) working this closely has enabled me to understand things a bit better under the hood as well. I am not exactly working with the new products other than access - I keep my eye out waiting to get the bonus for 1st year lending. I consider it more than damned annoying. It strikes me as underhand, a sharp practice. When did they plan to tell us about this pernicious change to our account conditions? I don't want to be logging in every day just to ensure money hasn't inadvertently wandered where I don't want it, or hasn't been languishing for days in the holding account. This is yet another detrimental development, so, for me, time to call a halt now.
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aju
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Post by aju on Dec 11, 2019 14:35:15 GMT
Really, you think they care about us on here that much it might change their stance - I do agree with your sentiments though. Even if this was a 6/7 figures I'm not sure it would bother them. It's business decision for their purposes as I don't run a business it's not for my best interests. Mind you it is damned annoying but I am not letting them get the better of me and I check most mornings before I read my emails and move stuff where I want/think they should be. (I am moving stuff from E/D to ISA as well so its not much of a burdon) working this closely has enabled me to understand things a bit better under the hood as well. I am not exactly working with the new products other than access - I keep my eye out waiting to get the bonus for 1st year lending. I consider it more than damned annoying. It strikes me as underhand, a sharp practice. When did they plan to tell us about this pernicious change to our account conditions? I don't want to be logging in every day just to ensure money hasn't inadvertently wandered where I don't want it, or hasn't been languishing for days in the holding account. This is yet another detrimental development, so, for me, time to call a halt now. Just out of interest what did they say when you told them you were not happy about this and the way it had struck you. I don't disagree with you at all but I guess i am in a different place in the sense that I have the time and interest to keep a close track along with my emails and therefore it does not bother me as much as to what they consider as a "business decision" as I was never under the impression they were running their business for me personally and I don't expect them to question me when I find ways around their practices. In my view RS is trying to move more towards a hands off lending platform than the name would suggest whilst also trying to make it viable business for them to be profitable for the future. Zopa has pretty much been that since they stopped lenders setting their rates. One thing that I find with these forums is we are not the majority in fact we are not even a spec on the horizon as far as voices go - at best we can vote with our feet but its a safe bet that RS, Zopa or probably all of the rest as well will not really be that hurt by us on here. Mrs Aju and myself are not light investors in these platform - we are moving towards the 1Y model rather than the 5Y as our position should really be in that mode rather than the longer mode. One really interesting thing I have noticed about this P2P lark is that our initial raison d'etre for investing here was to get better rates than the banks with a bit on top to combat the dreaded "Inflation Tax" effects. Having been in RS and achieving better than Zopa recently it does become a bit of battle with temptingly getting even higher rates its quite difficult to come back down the rates range after getting 5/6% - the risks look better at those rates than at 2.9% I had this morning for my £100 bonus.
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coogaruk
Hello everyone! Anyone remember me?
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Post by coogaruk on Dec 11, 2019 18:31:39 GMT
I have the time and interest to keep a close track along with my emails... Are you really that sad? I guess that means that there are at least two of us!
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aju
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Post by aju on Dec 11, 2019 18:59:18 GMT
I have the time and interest to keep a close track along with my emails... Are you really that sad? I guess that means that there are at least two of us! It's not that sad, I get in to loan queues quicker than if I just worked on it weekly or longer. definitely better rates if I do the work than if I just let the system do it. In essence if there is nothing to do then It takes < 1 min to check. I do have a table of our loans that gives me a heads up when the best days to check are too. Thinking about it again though it is sad as I could be painting the kitchen or worse digging the garden - back breaking stuff it sometimes is in the wilds of rainy wiltshire.
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Post by bernythedolt on Dec 12, 2019 0:28:52 GMT
I consider it more than damned annoying. It strikes me as underhand, a sharp practice. When did they plan to tell us about this pernicious change to our account conditions? I don't want to be logging in every day just to ensure money hasn't inadvertently wandered where I don't want it, or hasn't been languishing for days in the holding account. This is yet another detrimental development, so, for me, time to call a halt now. Just out of interest what did they say when you told them you were not happy about this and the way it had struck you. Representatives from Ratesetter read these forums as you know, so you can see for yourself. We've been led to believe for weeks that they've been working on the "no email notification" bug. Now suddenly they've apparently decided to remove the function altogether... without telling us. This won't concern those who log in regularly to micro-manage their account. But some will find the severing of this information feed an inconvenience; others might view it as deliberately removing another layer of transparency. I'm glad the decision works for you, and each to his own.
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aju
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Post by aju on Dec 12, 2019 1:21:21 GMT
Just out of interest what did they say when you told them you were not happy about this and the way it had struck you. Representatives from Ratesetter read these forums as you know, so you can see for yourself. We've been led to believe for weeks that they've been working on the "no email notification" bug. Now suddenly they've apparently decided to remove the function altogether... without telling us. This won't concern those who log in regularly to micro-manage their account. But some will find the severing of this information feed an inconvenience; others might view it as deliberately removing another layer of transparency. I'm glad the decision works for you, and each to his own. Yeah ratesetter reads a few of them but according to this sites records RateSetter hasn't been here since <Dec 5, 2019 at 9:04am> and their last post was made on <Dec 4, 2019 at 10:26am>. I'm not sure you should assume that RS reads all these threads at all other than to place their own messages, mostly reiterating what's already released onto the RS site or in our RS emails. There is some interaction but its quite superficial in my view. You may be interested in bad reviews on TP they are mounting and whilst RS displays trust pilot 5* 100% ratings on all its pages they are clearly not 100% 5* anymore on tp as a result of recent changes and lenders making bad reviews.They did used to have a somewhat more active presence a while back when an employee answered where he knew the answers but it was all a little unofficial and he eventually moved on to another company. He worked for RS at the time but seemed not to speak completely officially on behalf of RS. If he's still watching I'm sure he'll happily correct me. I'm not happy with the new approach and if I was not happy monitoring then I would certainly not be leaving it to the chance they will see these threads I would be bothering them by eMail - I'm not sure they would be interested but that's their problem if enough people walk as a result. One things for sure they probably won't know its an annoyance if you don't voice it to them directly. One thing I tend to do if I feel they are not likely listen or are just buffering in CS is that I will include CEO's in my email thread I did that recently with RS - its never a given that they will read it but its a safe bet that he saw it come through in his inbox. I still haven't had a satisfactory answer but they have 8 weeks, starting from 4th Nov to sort it out before I report it to regs.
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Post by bernythedolt on Dec 12, 2019 18:26:15 GMT
Having written to Ratesetter yesterday, I received quite different wording to Undecided above, but essentially the same message that most email notifications have indeed been ceased:- "I can confirm that investors will no longer receive notification emails for funds that have been repaid early by the borrower, funds fully matched for the 1 year market and 5 year market, Access, Plus and Max. The funds act in accordance to your re-investment settings.
Investors will only receive notification emails (if this has been selected) for new funds that have been deposited and once the funds have been matched and the other notification email is bank transfers have been received in your RateSetter account. However if there are un-matched funds, if an Investor has cancelled un-matched funds and manually places the funds on the market, in this instance you will also receive a notification email."
I would have expected them to reaffirm the 30-day notification of holding account dormancy, but they didn't mention it. We're gradually piecing together their email notification policy between us (since they seem reluctant to publish it). 🙄
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