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Post by Ace on Apr 17, 2020 21:20:39 GMT
Pretend I said "Withdrawing" instead of "Cashing out" on that option then, perhaps that will help.
They still don't have that option as all interest and capital repayments are automatically reinvested. To force money into your holding account for withdrawal you have to set an high interest rate and actively check your account so that you can cancel market orders. You say that it's not possible, then you describe how to do it! The poll isn't asking "how" you are removing interest and capital repayments, merely asking if that is what you are doing.
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Post by Si on Apr 18, 2020 6:24:36 GMT
I am keeping all my investments as I see Ratesetter riding this out and I cannot get similar rates elsewhere.
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Post by Si on Apr 18, 2020 6:26:28 GMT
Just ticked the box for reinvestment of cap. & interest as that is what I am doing.
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Post by Ace on Apr 18, 2020 7:23:44 GMT
You say that it's not possible, then you describe how to do it! No - I said that Ratesetter no longer offer it as an option on the Access market. The poll isn't asking "how" you are removing interest and capital repayments, merely asking if that is what you are doing. Yes, RateSetter do not provide a box to tick to allow me to do this simply, and they absolutely should, but I am still doing it, so I ticked the box in the poll that says that is what I'm doing, as many others also have.
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Post by herringbone on Apr 18, 2020 12:28:40 GMT
I am keeping all my investments as I see Ratesetter riding this out and I cannot get similar rates elsewhere. Me too, but not adding any more at the moment.
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Post by moneymagnet on Apr 18, 2020 13:58:36 GMT
I am currently actively withdrawing everything.
The latest Covid-19 uncertainties, although not RS' fault, were the last straw. I have put up with the convoluted website changing for the worse, withdrawals becoming more difficult, information that I use disappearing, the ability to manage my money as I please taken away, withdrawal fees being introduced, etc. I don't begrudge RS doing what they need to do to make their business work, but it's just become so user unfriendly recently that it's not worth it for me.
On a positive note, they are communicating with us and they seem to be handling the huge amount of withdrawals reasonably well.
Despite everything, I might just pop a bit of cash in the 5 yr to maintain my legacy status. I have done well with RS in the past. I hope that they do well after the current situation resolves itself and that they might become a good option again for me in the future.
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gg
Posts: 83
Likes: 61
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Post by gg on Apr 19, 2020 12:01:41 GMT
Withdrew 95% in January (thank goodness). Waiting for a RYI (19th March) for the remaining few grand. Don’t expect to get all of it.
gg
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alanh
Posts: 556
Likes: 560
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Post by alanh on Apr 19, 2020 13:46:45 GMT
Withdrew 95% in January (thank goodness). Waiting for a RYI (19th March) for the remaining few grand. Don’t expect to get all of it. gg I wouldn't worry. Have a look at the thread tracking RYI releases. RS are repaying millions every week, you can get an idea from that of roughly when you can expect your money back.
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jcb208
Member of DD Central
Posts: 821
Likes: 608
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Post by jcb208 on Apr 19, 2020 14:02:27 GMT
Ratesetter are paying out for the 12/03 withdrawel date at the moment
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Post by Deleted on Apr 19, 2020 15:21:03 GMT
Ratesetter are paying out for the 12/03 withdrawel date at the moment I don't think we know they've reached 12th for Access loans yet. Last RYI still shows as the 11th.
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jcb208
Member of DD Central
Posts: 821
Likes: 608
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Post by jcb208 on Apr 19, 2020 15:46:43 GMT
Ratesetter are paying out for the 12/03 withdrawel date at the moment I don't think we know they've reached 12th for Access loans yet. Last RYI still shows as the 11th. They told me so all I can do is believe them
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Post by Deleted on Apr 19, 2020 16:27:22 GMT
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sl75
Posts: 2,092
Likes: 1,245
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Post by sl75 on Apr 19, 2020 20:07:58 GMT
None of the voting options applies...
although technically I'm withdrawing capital and interest, that's RateSetter's choice not mine, and my choice would be to significantly increase my RateSetter investment at similar rates to those that were matched in the few months before the crisis.
As a gesture of goodwill, this time I've lowered the demanded interest rate slightly (equalling my average rate in Max), but I'd be surprised if I'm not withdrawing it all next weekend; again that's RateSetter's choice not mine - in fact there's several thousand I'd be prepared to ADD if the capital and interest gets re-invested.
(Put another way, my choice would be "Adding to investment as planned pre virus", but RateSetter have forced me to do "Cashing out interest and capital repayments" instead)
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coogaruk
Hello everyone! Anyone remember me?
Posts: 703
Likes: 463
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Post by coogaruk on Apr 23, 2020 14:40:44 GMT
I'd been dodging this one as none of the options really 100% suited what I was currently doing and my lending was 'under review' in any case.
However, now the dust has settled (on this poll at least!) I have opted for the 'Reinvesting interest & capital repayments' option with the following caveats:
- For some time now I have only been actively lending in my ISA account (all capital & interest from 5yr in ED goes to holding and is then transferred to ISA)
- I currently only actively lend within my ISA to Access and 1yr markets. 5yr money is relent in the aforementioned markets as it accumulates in holding by way of repayments and early settlement.
- I am even more cautious not to lend below my predetermined minimum rates (3.9% in Access and 4.9% in 1yr)
Since strictly adhering to my minimum rates rule I have built up quite a 'cash buffer' equating to approx 8% of my RS portfolio which although is all placed on market in orders at various rates I can either adjust rates or (for the moment at least!) cancel inividual orders and withdraw the money at will but have made no withdrawals to date.
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coogaruk
Hello everyone! Anyone remember me?
Posts: 703
Likes: 463
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Post by coogaruk on May 4, 2020 12:16:44 GMT
OP might want to consider restarting this one and compare the results to the original, post today's announcement!
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