oldgrumpy
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Post by oldgrumpy on Feb 1, 2016 16:26:03 GMT
Lengthy repayment runs quite often stretch well into the morning on the first day of the month. It'll probably start catching up on-screen very soon; watch your repayments drip in bit by bit over the next couple of hours, then when all is done, they'll be invested as per instructions. ..... So other than tardiness, nothing financially to worry about ( in fact last chance to catch a spike!) Apologies, the relevant people have been suitable embarrassed... Kevin. Make the most of this all you nice people manually swapping from 12 month/1year/3year to 5year .... 6.4%+ is still possible for you! By the time RS gets round to processing our 5 year repayments it'll be too late as they'll dump it in 6.0% then find more borrowers at 5.8% to lower tomorrow's MR (not me .... I'll just have to wait .. or withdraw for a week or so )
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Post by pepperpot on Feb 1, 2016 16:35:05 GMT
..... So other than tardiness, nothing financially to worry about ( in fact last chance to catch a spike!) Apologies, the relevant people have been suitable embarrassed... Kevin. Make the most of this all you nice people manually swapping from 12 month/1year/3year to 5year .... 6.4%+ is still possible for you! By the time RS gets round to processing our 5 year repayments it'll be too late as they'll dump it in 6.0% then find more borrowers at 5.8% to lower tomorrow's MR (not me .... I'll just have to wait .. or withdraw for a week or so ) Transfer a bit in with a debit card, take the 6.4%... transfer out todays' repayments tomorrow which should hit your account at about the same time on Wednesday as the debit card payment is collected. Simples.
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teddy
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Post by teddy on Feb 1, 2016 16:35:12 GMT
Still not had my 3 yr repayments, let alone my 5yr. Getting a bit angry about this now. Will there be compensation offered?
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duck
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Post by duck on Feb 1, 2016 16:45:32 GMT
Still not had my 3 yr repayments, let alone my 5yr. Getting a bit angry about this now. Will there be compensation offered? Obviously not an HSBC customer, not they have made me grumpy this year! ...... I'm more than prepared to cut RS some slack, in nearly 4 years this is the first time I remember such a lengthy issue.
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ben
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Post by ben on Feb 1, 2016 16:47:20 GMT
Its not great but compensation for what ? Like Kev said it is working just slow
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Post by newlender on Feb 1, 2016 16:48:14 GMT
I've had nothing either but I think that Kev has explained as best he can and these things happen. I'll look again tonight before I hit the hay and hopefully it will be there. I'm not expecting a large sum, but I suppose those out there waiting for >£100 or so that they want to invest will not be too pleased if it hasn't come through by tomorrow.
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c88dnf
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Post by c88dnf on Feb 1, 2016 16:54:52 GMT
Its not great but compensation for what ? Like Kev said it is working just slow It's not just the processing run which is stuffed. Repayments from Friday have not yet been credited to accounts either. That may cause people real problems if they have outgoing payments reliant on the incoming Ratesetter funds. The problem will compound if funds expected to be available today can't be exported to peoples' current account to arrive tomorrow afternoon. A "don't panic: we have a major IT problem" message has still yet to appear on login page, though I guess if the IT staff can't get the systems working.....
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pip
Posts: 542
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Post by pip on Feb 1, 2016 16:57:16 GMT
Still not had my 3 yr repayments, let alone my 5yr. Getting a bit angry about this now. Will there be compensation offered? I'll accept £100 compensation
Geez it's 8 hours late, log off, go for a walk, watch some TV, have your dinner. They have said just an IT issue, accept it and wait for it to resolve. Sure you will survive.
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Post by newlender on Feb 1, 2016 16:58:27 GMT
First time I've read on the forum that Friday's repayments didn't go through - how widespread was this?
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Post by newlender on Feb 1, 2016 17:05:11 GMT
I wonder how many lenders rely on repayments to pay their direct debits at the start of the month. I suppose that someone who has a mortgage payment due today and was relying on RS to fund some/all of it via a monthly sum which had always arrived in the past might possibly try for compensation - the banks did pay out in those circumstances when their systems went down for days (can't remember which ones, but it happened several times).
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ben
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Post by ben on Feb 1, 2016 17:26:19 GMT
I wonder how many lenders rely on repayments to pay their direct debits at the start of the month. I suppose that someone who has a mortgage payment due today and was relying on RS to fund some/all of it via a monthly sum which had always arrived in the past might possibly try for compensation - the banks did pay out in those circumstances when their systems went down for days (can't remember which ones, but it happened several times). If that is someone financial model then I would be worried, as what would happen for example if one of the loans they were in did not pay on time, before the loan went to default ratesetter would have to try contacting the person to figure out why and all that would take time anyway
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c88dnf
Member of DD Central
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Post by c88dnf on Feb 1, 2016 17:27:10 GMT
First time I've read on the forum that Friday's repayments didn't go through - how widespread was this? Well it's happened to me and that's widespread enough!
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Feb 1, 2016 17:31:10 GMT
Make the most of this all you nice people manually swapping from 12 month/1year/3year to 5year .... 6.4%+ is still possible for you! By the time RS gets round to processing our 5 year repayments it'll be too late as they'll dump it in 6.0% then find more borrowers at 5.8% to lower tomorrow's MR (not me .... I'll just have to wait .. or withdraw for a week or so ) Transfer a bit in with a debit card, take the 6.4%... transfer out todays' repayments tomorrow which should hit your account at about the same time on Wednesday as the debit card payment is collected. Simples. Did cross my mind, Peppers, and for 6.7%-6.8% I would have done it, but a "maybe" 6.3/6.4% isn't worth the hassle. Mr HMR Custards has just depleted the readies pot, so I may just replenish that. Compensation? I don't think so!!!!
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teddy
Posts: 214
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Post by teddy on Feb 1, 2016 17:32:48 GMT
Still not had my 3 yr repayments, let alone my 5yr. Getting a bit angry about this now. Will there be compensation offered? Obviously not an HSBC customer, not they have made me grumpy this year! ...... I'm more than prepared to cut RS some slack, in nearly 4 years this is the first time I remember such a lengthy issue. Oh, I am! Midland Bank since a bear cub, investing my pocket money from mummy bear, and my paper round money, then HSBC since Midland went breast over backside. I'm well used to HSBC's internet banking screw ups.
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oik
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Post by oik on Feb 1, 2016 17:37:41 GMT
I've had nothing either but I think that Kev has explained as best he can and these things happen. I'll look again tonight before I hit the hay and hopefully it will be there. I'm not expecting a large sum, but I suppose those out there waiting for >£100 or so that they want to invest will not be too pleased if it hasn't come through by tomorrow. I suspect there are peeps waiting for a bit more than that. I've got a fair bit of money sitting with them and though today there was fortunately just a few thousand due for repayment, next week there'll be near 20k and 30k the week after that. While it's been fun watching their performance, if they can't sort themselves out and show a bit more competence then finding somewhere else less fun but more competent to park cash will become more urgent. My short experience with them has been amusing but not impressive.
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