Slow Withdrawal

I totally agree. Previous time it was much faster. Maybe its because many people are withdrawing their money and thay cant manage withdrawals that fast

i start to get the feeling that they are doing this on purpose. i guess this is some kind of revenge for taking the money away from their platform. still waiting for my money.

Hi all,

I started withdrawing from Twino after the reduced interest rates were announced. Seems that a lot of loans are now paid back to my account, perhaps due to many loans with short durations and also there's been quite many buybacks too. I am getting a bit concerned on the amount of buybacks and the increasing amount of loans in "delayed" status.

The withdraw page mentions that the request will be processed in 2 business days.

But you should note that it is possible to have only one request in the process! So even though more cash is accumulating into your account, you can request the next withdrawal only after the previous one has been handled! Depending on the processing time, you can make withdrawal perhaps a only once in every 3 days. 

In practice this means that the slower Twino is handling the requests, the more time your cash is hanging in there. 

Even the much discussed Bondora is a lot faster. If requesting the withdrawal in the morning, it is shown in the bank account during the same day!

I contacted Twino and also asked if they could change the ongoing request to include all the cash that was accumulating while the request was pending. Here is the answer:


"Thank you for contacting us.

We would liek to inform you that withdrawal requests are processed within 2 business days. The processing of your request is still in progress, and you will be able to request another withdrawal when the current one has been processed.

Unfortunately it is not possible to change the requested amount."


And when further giving some negative feedback on the speed, here is the answer:

We are working on ways to improve our payment processing system and hope to speed up the process soon.

Thanks for the tip, good to know that the secondary market is liquid!

Actually I tested that with one loan last night, and it was indeed sold in few seconds!

So I'll probably consider reducing the Twino exposure by selling some loans with 12+ month duration.

My previous withdrawal request submitted on Wednesday is still "in progress",  so they do seem to fully use the (at least) 2 business day handling period for withdrawals...

I agree, My last withdrawal request was made on Tuesday, they showed it as processed yesterday but this morning it still is not available at my bank which means that the earliest I can invest it will be Monday, so about a week earning nothing.   My bank only shows deposits late in the day and doesn't make transfers at the weekend so doesn't help this unfortunate situation.   To reduce the return to investors by a third without prior notice was bad enough, but to then delay withdrawals and only allow one at a time is really annoying.

They must have experienced a massive drop in investor interest to quickly change around.

it is true about 12%. i got an email from them
It has been an amazing first quarter for our group's Georgian lender. The support from TWINO investors allowed our lender to exceed all growth targets for the existing loan products, and Georgia will be the first market to launch the new, longer term, loan product.


Therefore, in order to align growth ambition of our Georgian lending company with the return expectations of TWINO investors, we are increasing the rate for Georgian loans to 12.0% per annum starting from today.


The new rate will be applied only to the loans listed on TWINO starting from March 11, 2016, and the first loans with the increased rate will appear on the platform later today.