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Post by Financial Thing on Sept 16, 2015 12:11:10 GMT
I have recently experienced a couple of issues I think are worth reporting so you are all aware.
Yesterday I received a double deposit in error resulting from a withdraw. I emailed support to let them know and they confirmed this to be true. They said "You have the option to either keep the extra deposit in your Barclays account or return it to your ReBS account." Not sure what that means.
Unrelated...My dashboard is showing a negative balance.
So if these types of errors are being made, how much faith do you have that everything is being accounted for correctly on the platform?
Just curious.
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Post by jackpease on Sept 16, 2015 12:21:09 GMT
It's always been good and accurate for me and in its modest way, I like it, excepting the website speed (endless comments passim)
Jack P
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jonno
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nil satis nisi optimum
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Post by jonno on Sept 16, 2015 13:18:22 GMT
I have recently experienced a couple of issues I think are worth reporting so you are all aware. Yesterday I received a double deposit in error resulting from a withdraw. I emailed support to let them know and they confirmed this to be true. They said "You have the option to either keep the extra deposit in your Barclays account or return it to your ReBS account." Not sure what that means. Unrelated...My dashboard is showing a negative balance. So if these types of errors are being made, how much faith do you have that everything is being accounted for correctly on the platform? Just curious. The negative balance on your dashboard could well be correlated to the amount of the double deposit. I'm guessing here, but ReBS may well be giving you the option to keep the deposit "for now" but to "fund" it the next time you deposit money. I could of course be talking  .
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trevor
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Post by trevor on Sept 16, 2015 18:11:45 GMT
Not a lot which is why they only have 3% of my P2P investment.
The lack of deal flow leads me to worry about how much of a long term future they have.
I think that their website design is v poor bordering on children toys i.e.Lego
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Steerpike
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Post by Steerpike on Sept 16, 2015 18:39:24 GMT
I have about .25% of my p2p investments with Rebs spread thinly across 26 loans, no defaults yet, but one is seriously overdue and looking jolly sickly having made only 1 payment. Unlikely that I will increase above .5%.
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Vero
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Post by Vero on Sept 16, 2015 23:26:44 GMT
It's always been good and accurate for me and in its modest way, I like it, excepting the website speed (endless comments passim) Jack P Me too.
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nick
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Post by nick on Sept 19, 2015 17:48:21 GMT
I've had a number of small errors in the past which I only picked up when attempting to reconcile by cash/investment balances with my P&L, but on the whole nothing of serious concern. It is a shame that they haven't improved the site speed and some of the recurring annoying errors on the website that seem to repeat themselves over and over again.
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SteveT
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Post by SteveT on Oct 6, 2015 9:14:10 GMT
After 6-8 weeks of drawing down on my ReBS funds, I decided to make an additional deposit early yesterday afternoon to bid in a couple of the current auctions. I made 5 other platform deposits around the same time; both FC and LC had funds available immediately (debit card), MT credited to my account in less than 5 mins, FS within 30 mins, AC in 40 mins (ie. at the top of the hour). ReBS still waiting this morning .....
Note to self (again!): really must give up on ReBS, they're not worth it.
[Update: Funds eventually credited almost 22 hours after transfer. Slick!]
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Post by dodgeydave on Oct 6, 2015 9:38:24 GMT
I have no faith.
And for a long while now have been drawing down and making no new investments.
It is the handling of the Mushroom company that has appalled me most.
On the 24th June 2015 someone asked about 1500. The question has never been answered.
The Mushroom company has made 3 payments on the due date in 13 payments. The Payments range from 10 to 39 days late.
August repayment is now 43 days late and September is 12 days overdue.
The borrower is a blatant liar and REBS fall for it every time.
I have 2 defaults and normally on a friday after work you get a curt email.
No more investments from me
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SteveT
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Post by SteveT on Dec 19, 2015 13:40:47 GMT
ReBS' latest website tweaking seems to have made navigation even slower and flakier, which I actually didn't believe possible. My (early) New Year's resolution is to stop bidding on new auctions and accelerate the extended process of exiting ReBS. I doubt I'll ever be shot of the problem loans but hopefully the rest will sell down steadily. I can then reinvest the cash somewhere it will start earning interest immediately (not 3 to 4 weeks later, maybe, if I'm lucky) and where the user interface isn't like swimming through treacle.
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johnfleet
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Post by johnfleet on Dec 19, 2015 15:31:14 GMT
ReBS' latest website tweaking seems to have made navigation even slower and flakier, which I actually didn't believe possible. My (early) New Year's resolution is to stop bidding on new auctions and accelerate the extended process of exiting ReBS. I doubt I'll ever be shot of the problem loans but hopefully the rest will sell down steadily. I can then reinvest the cash somewhere it will start earning interest immediately (not 3 to 4 weeks later, maybe, if I'm lucky) and where the user interface isn't like swimming through treacle. My sentiments exactly. I'm currently showing 5 loans which look likely to be partial or total losses out of about 60 investments made. For the reasons cited by others I gave up on them a couple of months ago and am steadily withdrawing my funds and transferring them to other sites which generate immediate returns ( and so far - fingers crossed! - without any defaults!)
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ablender
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Post by ablender on Dec 26, 2015 19:00:43 GMT
Interesting reading. I have just registered with ReBS with the intention of having a go. I have not deposited any money yet. Oh, I might have to rethink.
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ben
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Post by ben on Dec 26, 2015 19:56:58 GMT
Interesting reading. I have just registered with ReBS with the intention of having a go. I have not deposited any money yet. Oh, I might have to rethink. Probably best to think have a rethink looking at these posts
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Post by bluechip on Dec 28, 2015 10:39:28 GMT
My wife downsized her account and in doing so there were occasions where the balance on display didn't correspond to the true balance or what she could withdraw (three different figures quite often). Eventually they sorted themselves out. I have called them 3-4 times and on each occasion my query was dealt with quickly and more importantly the minor issues were resolved with no fuss. I was impressed with their customer service on the phone and via email and appreciate this is a relatively small business filling a niche part of the market - it isn't going to be perfect and if it were the rates would be much lower.
I had 2 loans go bump early on - I couldn't believe the great rates and put far too much in on one loan which burned me quickly. I have now halved my auto-bid (I don't bother researching because most companies prepared to pay this much interest will be less than A*, also much bigger platforms get it horribly wrong as well). I have 3-5% of my P-P portfolio in Rebs, I won't increase this too much, but for the rates it's worth the gamble for me.
Rebs are like my dirty little pleasure in the P-P world.
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kaya
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Post by kaya on Dec 30, 2015 20:07:38 GMT
Interesting reading. I have just registered with ReBS with the intention of having a go. I have not deposited any money yet. Oh, I might have to rethink. Oh go on, take a punt. Where else can you get 20%! Not only that, you can earn 'trust' points too! Now promoted from 'Ambasador' to 'Champion', I look forward to my next promotion, whatever that is, and which hopefully comes with an improved 'Net Return' package.
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