SteveT
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Post by SteveT on Nov 16, 2015 19:54:36 GMT
How about all interest is paid the same day of the month but the first interest payment doesn't happen until a full month invested. So if you invested on day 15 of the month you would get your first payment at 45 days? I don't understand why that would be better than getting your interest on the day it is due (ie. the current system). What is the upside of effectively having your first part-month's interest withheld for an extra month? If lenders want to be able to reinvest or withdraw interest from multiple loans on the same day, simply let the individual payments roll up for a couple of weeks.
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hazellend
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Post by hazellend on Nov 16, 2015 20:41:52 GMT
No advantage apart from makes it slightly easier to track things. Doesn't really matter that much I suppose.
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star dust
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Post by star dust on Nov 17, 2015 8:37:08 GMT
I certainly wouldn't want any email notifications, apart from where a loan is repaid early as I have mentioned before. I don't yet bother downloading and analysing my loan book as I haven't yet found it necessary, so what I would find very useful is the ability to sort loan end dates by the day of the month only, and not just by the entire date, so maybe a sortable repayment day column?
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TitoPuente
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Post by TitoPuente on Nov 17, 2015 12:22:02 GMT
I second what has been requested by a majority here: Interest paid when they are due. No withholding. Keep emails for exceptional and non-recurring events only.
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chrisf
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Post by chrisf on Dec 12, 2015 12:19:50 GMT
No interest payments today I see. Usually on the 12th we get a load of the modern art repayments. All seems a bit quiet at MT, I know it is a weekend, but usually interest payments seem to go through ok on Sat/Sun.
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Post by uncletone on Dec 12, 2015 13:18:57 GMT
Today is hardly over yet...
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chrisf
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Post by chrisf on Dec 12, 2015 13:59:03 GMT
Yeah, I spose. I thought interest usually comes in between 9 and 9.30am, but maybe weekends are different, I haven't really kept track.
Edit at 5pm: Yes, all paid now. I'd always assumed this was an automated process but looks like it does require someone to do something (possibly after having done some Christmas shopping)
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Post by Financial Thing on Dec 13, 2015 14:10:09 GMT
The system is fine as is.
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