SteveT
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Post by SteveT on Dec 23, 2015 17:03:51 GMT
They found the glitch they explained, granted they could have waited but its not an issue as they know who has been effected so can correct it manually when needed, Just seen Ed's update on the other thread. A total of 6 (yes, six) lenders are affected.
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ben
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Post by ben on Dec 23, 2015 17:05:33 GMT
I am sure they can correct that so its all back to normal
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t
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Post by t on Dec 23, 2015 17:12:55 GMT
Sorry is this normal
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ben
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Post by ben on Dec 23, 2015 17:16:48 GMT
Sorry is this normal out of all the sites MT seems to be the most proactive at updating things based on what members say and they appear to be able to admit when they made a mistake which is always nice rather than others sites that just pretend that was the plan all along
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Post by solicitorious on Dec 23, 2015 17:21:23 GMT
They found the glitch they explained, granted they could have waited but its not an issue as they know who has been effected so can correct it manually when needed, Just seen Ed's update on the other thread. A total of 6 (yes, six) lenders are affected. Great, except for the six, who have just as must right as anyone to be kept informed, and expect their funds to be where they ought to be... I would also point out that the email received at 12.37pm today said "many" were affected, not six. One is too many, so they were not necessarily wrong, imho...
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paulgul
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Post by paulgul on Dec 23, 2015 17:43:27 GMT
MT have just lost a lot of the credibility that they have struggled so hard to build. I don't understand that comment, unless you are just referring to your personal views, MT certainly haven't lost any credibility with me, they seem to have worked fast and put matters right - I wasn't one on the six affected, just my views as an MT customer/investor
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Post by solicitorious on Dec 23, 2015 17:49:58 GMT
Yeah, we all find several hundred quid missing from our accounts, and ourselves invested in loans we don't want. Happens every day. Are you honestly concerned that the affected loan-parts won't correctly be reallocated soon, or that you'll miss out on the chance to invest in the new loan? As I understand the issue, no money is "missing" from your account, it's just that you're currently still invested in loan-parts you thought you had sold. If I were affected, I think I'd be slightly kicking myself too for attempting to trade loans that had already begun the renewal process. I was concerned that I was kept in the dark for most of the day. Not so bothered about the 10% loan. The money was missing from my available funds. Luckily just a few hundred pounds, but it could have been £100k about to be transferred to complete on a house purchase or something... The error was that the pending loan renewals were being reconciled with the supposed loan part sales - they were reducing, so naturally you would think that everything was working OK. Not MT's finest hour, but I will now cut them some slack, cos they have fessed up, and it's Xmas...
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Post by Financial Thing on Dec 23, 2015 18:13:57 GMT
solicitorious One mistaketh does not a platform maketh I've experienced account tech issues with FS (negative balances), Rebs (negative balances), FC (incorrect conciliation). MT isn't alone. You can always ditch the site if you aren't happy. Simple solution.
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alanp
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Post by alanp on Dec 23, 2015 18:17:08 GMT
I was one of those 6 and the first one to contact them this morning when I noticed the discrepancy in my account.
For me it is only a few pounds and I have no doubt it will get corrected, probably by some "manual" adjustment and that I will not lose out. If as said above it was £100k then I might get more vexed over it even though I don't think I would have £100k I needed urgently as CASH today sitting on any P2P platform.
As for IT systems and glitches I've project managed very large IT system builds and roll-outs for household names and in my experience testing does not catch every scenario and it is the "user support" and responsiveness that is the make or break factor (assuming the fundamentals work correctly).
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hazellend
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Post by hazellend on Dec 23, 2015 18:27:58 GMT
Just seen Ed's update on the other thread. A total of 6 (yes, six) lenders are affected. Great, except for the six, who have just as must right as anyone to be kept informed, and expect their funds to be where they ought to be... I would also point out that the email received at 12.37pm today said "many" were affected, not six. One is too many, so they were not necessarily wrong, imho... Alright, calm down, no need to throw your toys out of the pram
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Post by solicitorious on Dec 23, 2015 18:28:27 GMT
solicitorious One mistaketh does not a platform maketh I've experienced account tech issues with FS (negative balances), Rebs (negative balances), FC (incorrect conciliation). MT isn't alone. You can always ditch the site if you aren't happy. Simple solution. I have also experienced all of those. Rather than ditch a site I have supported, and like, I prefer to help improve it! And that may involve strong criticism (not only of the stupid error, but communication failings) when it's due. As I've said, I've now drawn a line under it, and put it down in part to MT being perhaps a little too eager to please (with insufficient testing), and the time of year (people being a little distracted).
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Post by solicitorious on Dec 23, 2015 18:46:35 GMT
If as said above it was £100k then I might get more vexed over it even though I don't think I would have £100k I needed urgently as CASH today sitting on any P2P platform. Umm, that's exactly what someone has been doing for the past few days, if you were unaware of it, selling in £10k chunks. Now imagine if that had been a rollover, and it turned out they hadn't sold what they thought they'd sold... Anyhow, let's draw a line under it.
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ben
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Post by ben on Dec 23, 2015 19:10:05 GMT
If as said above it was £100k then I might get more vexed over it even though I don't think I would have £100k I needed urgently as CASH today sitting on any P2P platform. Umm, that's exactly what someone has been doing for the past few days, if you were unaware of it, selling in £10k chunks. Now imagine if that had been a rollover, and it turned out they hadn't sold what they thought they'd sold... Anyhow, let's draw a line under it. I think MT took that of their hands before it went back onto the market as it had been an investor they would have listed it all in one chunk not waited till one set had gone then added more
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Post by solicitorious on Dec 23, 2015 19:18:14 GMT
Umm, that's exactly what someone has been doing for the past few days, if you were unaware of it, selling in £10k chunks. Now imagine if that had been a rollover, and it turned out they hadn't sold what they thought they'd sold... Anyhow, let's draw a line under it. I think MT took that of their hands before it went back onto the market as it had been an investor they would have listed it all in one chunk not waited till one set had gone then added more It sounded like someone with their head screwed on, who figured a huge dump would spook everyone, and would also be unfair to tiddlers trying to sell bits of the loan. Whether MT bought it back or they managed the sale themselves, thanks for the courtesy and common sense shown by whomever....
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stevio
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Post by stevio on Dec 24, 2015 11:04:46 GMT
Wheres the renew loans bit if a renewal is coming up?
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