aju
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Post by aju on Dec 27, 2019 10:39:29 GMT
Is it me or am I just not understanding, I've got flags that advise me when sums of money are supposed to be returned to my account from lending returns. I was expecting sums of money to arrive today 27th and sure enough the money returned according to "Account History" for this month says its paid today, however, checking transactions data its not actually paid as yet.
So as today is 27th and being completely fair it still has a number of hours to appear in transactions before I can remove it and move it over to the ISA side and get it lending at favourable rates, but ...
I check transactions dates against previous returned money dates and it seems there is quite a disconnect between what should happen and what does happen. Ok so this is what I would expect in a system that is probably creaking as it gets bigger and bigger, however surely RS could at least make their visible systems line up better by ensuring that details of payments and actual resultant receipts are better aligned.
If I've got this whole annoying shambles wrong as most people would not be quite as close to this as I clearly am - either that or I am just completely wrong.
Any thoughts on this will be gratefully received.
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Post by Deleted on Dec 27, 2019 10:48:02 GMT
I have some Access repayments showing but not the 5-year repayments that are due. RS has got 3 days of payments to process today (25-27 inclusive) so expect it'll be well into the afternoon before all its runs have completed - kind of like Mondays and/or 1st of the month.
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aju
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Post by aju on Dec 27, 2019 10:53:39 GMT
Is the back end not 24/7/365 then, I'm pretty sure Zopa is but don't quote me on that!  |
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Post by Deleted on Dec 27, 2019 11:12:12 GMT
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aju
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Post by aju on Dec 27, 2019 11:16:41 GMT
thanks interesting read. Not going to be a bank real soon then!. Although they could potentially masquerade as TSB perhaps.
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star dust
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Post by star dust on Dec 27, 2019 11:31:17 GMT
Is it me or am I just not understanding, I've got flags that advise me when sums of money are supposed to be returned to my account from lending returns. I was expecting sums of money to arrive today 27th and sure enough the money returned according to "Account History" for this month says its paid today, however, checking transactions data its not actually paid as yet. So as today is 27th and being completely fair it still has a number of hours to appear in transactions before I can remove it and move it over to the ISA side and get it lending at favourable rates, but ... I check transactions dates against previous returned money dates and it seems there is quite a disconnect between what should happen and what does happen. Ok so this is what I would expect in a system that is probably creaking as it gets bigger and bigger, however surely RS could at least make their visible systems line up better by ensuring that details of payments and actual resultant receipts are better aligned. If I've got this whole annoying shambles wrong as most people would not be quite as close to this as I clearly am - either that or I am just completely wrong. Any thoughts on this will be gratefully received. I'm not entirely sure which screens you are referring to in terms of checking repayments. However, as already said actual repayment dates for each loan can vary by 3/4 days each month depending on the date of the weekend and/or bank holidays. Access repayment runs are done first and in my experience have always completed the day they are due. I believe the 5 year market repayments are done last - and on Mondays or after bank holidays (such as today) they can be paid out right up to midnight, indeed I believe some have actually tipped into the following day (in the early hours) and they will be marked as having been paid the day before. I say I believe as I haven't actually stayed up beyond midnight to watch it happen, but I have given up on the payment run completing and withdrawn my holding balance not long beforehand (less than 1 hour).
To my knowledge those are the only transactions that will have a payment date discrepancy, there aren't many of them the vast majority of loans repay on the date expected although this can be very late in the day due. I have some 5 year repayments due today, and none of them have actually paid yet, but I'm sure they will be by midnight.
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aju
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Post by aju on Dec 27, 2019 16:52:02 GMT
Basically i'm just checking the months transactions in members.ratesetter.com/your_lending/account_history.aspxWhere I can see what has arrived and when and then looking at "Your Portfolio", click on total and get the "Repayments by Month" (this month) by date to see what should arrive. I generally don;t bother with Access lending as I don;t want to remove those - especially as I picked up 6% ones a while back. Its arrived now and it went to a lend order, I set that higher then I am expecting and then check the state of play before I remove it and lend it at what I think might work better for me. |
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