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Post by helpis on Feb 14, 2020 12:20:54 GMT
How long does it usually take for your transfers from your LW wallet to your bank account to arrive?
If you initiated one at e.g. 6pm on a weekday, would it be there the next day?
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benaj
Member of DD Central
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Post by benaj on Feb 14, 2020 12:33:06 GMT
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Post by helpis on Feb 14, 2020 12:44:58 GMT
So if I initiated a withdrawal at 6pm on a weekday, I'd expect it to be in my account the next day, is that right?
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benaj
Member of DD Central
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Post by benaj on Feb 14, 2020 13:22:35 GMT
Weekly withdrawals arrive.  |
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Post by helpis on Feb 14, 2020 13:50:48 GMT
Weekly withdrawals arrive. I don't understand your post.
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Post by carol167 on Feb 14, 2020 14:00:26 GMT
Weekly withdrawals arrive. I don't understand your post.
If you are making use of the auto withdrawal feature of either every week or every month, then the every week option pays out any amount in holding automatically on a Friday. You get an email at some point during the day to tell you the withdrawal has happened. I assume, therefore, that benaj just got his.
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Post by helpis on Feb 14, 2020 14:03:38 GMT
I don't understand your post.
If you are making use of the auto withdrawal feature of either every week or every month, then the every week option pays out any amount in holding automatically on a Friday. You get an email at some point during the day to tell you the withdrawal has happened. I assume, therefore, that benaj just got his.
Oh right. This is for a manual withdrawal from the wallet to my bank account.
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Post by jojo on Feb 14, 2020 16:36:12 GMT
If you are making use of the auto withdrawal feature of either every week or every month, then the every week option pays out any amount in holding automatically on a Friday. You get an email at some point during the day to tell you the withdrawal has happened. I assume, therefore, that benaj just got his.
Oh right. This is for a manual withdrawal from the wallet to my bank account. No this is different from a manual withdrawal, on Lending settings, you can choose to withdraw interest only, or interest and repayments and then you choose when you want that withdraw to be transfer automatically into your bank account: ie weekly or monthly, if you choose weekly, then every friday you will receive the money, if you choose every month, you will receive on 28th of each month. Hope it helps.
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Post by carol167 on Feb 14, 2020 17:06:02 GMT
If you are making use of the auto withdrawal feature of either every week or every month, then the every week option pays out any amount in holding automatically on a Friday. You get an email at some point during the day to tell you the withdrawal has happened. I assume, therefore, that benaj just got his.
Oh right. This is for a manual withdrawal from the wallet to my bank account. It's the same principle.
You do a manual withdrawal, and at some point usually the same or next working day - you get an email that is titled "Money transfer settled".
Whether it's auto requested or manually the principle is the same.
I as merely answering your query before as to what benaj meant with his slightly cryptic post.
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benaj
Member of DD Central
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Post by benaj on Feb 14, 2020 21:49:03 GMT
Manual withdrawal 14th Feb: Same day 😃
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Post by jono75 on Feb 15, 2020 10:09:00 GMT
I made a manual request yesterday and got the settlement email at 16:30. The money is not yet in my account.
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benaj
Member of DD Central
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Post by benaj on Feb 15, 2020 10:30:04 GMT
I made a manual request yesterday and got the settlement email at 16:30. The money is not yet in my account. Don't worry, you will get it next working day.
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Post by jono75 on Feb 15, 2020 11:31:15 GMT
I made a manual request yesterday and got the settlement email at 16:30. The money is not yet in my account. Don't worry, you will get it next working day. Thanks, perhaps the settled email should be amended as it says the money will be in your account in the next few hours, which usually means within two. Not sweating it as it was a small initial transfer, always do that with my first from any new account. Didn't expect to be cashing out of LW so quickly, been with them about two months but that Shield cash amount is pitifully low now and that's with the shortfalls some worried investors have taken. Such as shame though, I had read great things of them. Their model is now too complex and is not at all well explained on the website, just not enough information for me at the moment. Too much pandering to new investors (I'm one and I'm out). Why should old investors be penalised for bad lending just so new investors get a higher incitement rate, and who's to say that won't happen to them. Financial thing were worried about the high borrower APRs before all this, that seemingly go up each year so not sure how they expect bad debts to get better. Imagine even a a small recession. I'll keep my eye on them though. I won't invest again until borrower APRs come down and the shield goes up significantly, and even then maybe. No point in higher investor interest rates that are a work of fiction.
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