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Post by william on Mar 18, 2017 16:44:13 GMT
Very disappointed with Savings Stream. I have been a registered member for over 12 months and I recommended someone (WHO IS NOT A HUSBAND, WIFE OR PARTNER as the rules states not eligible) over 4 months ago and still no reward.
This is what Savings Streams Website say..........When you have set up an account you will be given a personalised link to share with friends and family, or to use on your website, blog or social networks. When a new investor joins Saving Stream using your link we will credit your account with 1% of their initial investment as a thank you.
After chasing Saving Stream they say I am not eligible ? I have recommended a new customer and done everything correctly so feel I should be entitled to the reward. My recommended new customer still has all the initial investment deposited in Savings Stream and not has withdrawn anything. Has anyone had the same problem with their Reward Scheme?
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puffin
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Post by puffin on Mar 18, 2017 17:08:49 GMT
I referred a few people with my referral link(found on the rewards page) but I've not heard anything and assumed those I referred didn't sign up. After your post, not so sure, perhaps SS slipped up.
On a related note, referring people is a bit self defeating as more investors means more investor demand and hence reduced rates/payouts/returns.
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Post by william on Mar 18, 2017 17:11:36 GMT
Its worth chasing up directly with SS and see what their reply is, others have contacted me saying they have not received their incentive reward either and they have seen proof of their peoples deposits that have been recommended into SS.
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djpix99
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Post by djpix99 on Mar 18, 2017 17:14:26 GMT
I contacted them to give them a nudge and the promotional credit was in my SS account the same day.
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nick
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Post by nick on Mar 18, 2017 17:29:52 GMT
I've referred a couple of people, both immediate family, and was credited after prompting them after the three month qualifying period. In both cases, most of the initial deposit was fully invested. Whilst the scheme is unclear over the definition of initial investment and whether the amounts deposited needed to have been invested in loans, in both of cases I was rewarded the 1% for deposits that was made over a period of weeks. If in your case none of the deposits have actually been invested in any loans, this is maybe why they have denied your reward. It would be reasonable to expect that some investment in loans would need to occur in order to earn the promotion even if this is not stated as an explicit condition of the reward.
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mason
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Post by mason on Mar 18, 2017 17:56:18 GMT
After chasing Saving Stream they say I am not eligible ? I have recommended a new customer and done everything correctly so feel I should be entitled to the reward. My recommended new customer still has all the initial investment deposited in Savings Stream and not has withdrawn anything. Has anyone had the same problem with their Reward Scheme? They should be able to give you a reason why you were not eligible (e.g. the new customer's signup was not associated with your referral link, or the new customer deposited money but didn't invest it). There are no official terms for this offer and it does state "Affiliate payments are 100% discretionary. All management decisions are final."
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Post by simert on Mar 18, 2017 17:57:20 GMT
I've been paid rewards but had to prompt SS.
They told me it was only on the first loan part purchased. Not deposited funds or total of several loan part purchases.
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pom
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Post by pom on Mar 18, 2017 18:33:59 GMT
I've been paid rewards but had to promptly SS. They told me it was only on the first loan part purchased. Not deposited funds or total of several loan part purchases. Hmm cos of course everyone always jumps in with a massive investment on their first go.....glad I never bothered trying to get this one.
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Post by bonfemme on Mar 19, 2017 7:08:18 GMT
I had to nudge them about my first referral, and subsequently received the reward. But I had to contact them three times about my second referral. Twice I was told the person referred didn't exist in their records. Frustrated and annoyed, I contacted them a third time giving them the full name, address and account number and eventually they paid up.
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elliotn
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Post by elliotn on Mar 19, 2017 8:04:25 GMT
I've been paid rewards but had to promptly SS. They told me it was only on the first loan part purchased. Not deposited funds or total of several loan part purchases. Hmm cos of course everyone always jumps in with a massive investment on their first go.....glad I never bothered trying to get this one. Can you do it in the name of a family member, say, your partner? This is already done to game prefundings and can be a tool of tax avoidance too as well as earning a nice, free incentive.
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Post by GSV3MIaC on Mar 19, 2017 8:18:41 GMT
Partners are excluded, iirc.
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SteveT
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Post by SteveT on Mar 19, 2017 8:50:13 GMT
I managed to get a bonus for referring my father, and for the "initial investment" to be made via 3 FP transfers over 3 consecutive days. An email prompt shortly after 3 months (attaching SS's email confirming it was Ok) saw payment made the same day.
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beechside
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Post by beechside on Mar 19, 2017 9:09:11 GMT
I referred my mother about 6 months ago and Tim quite happily accepted her, despite (obviously) being a close relative. The stipulation he made, however, was that the amount paid would be based on the initial investment, provided it was all still in the account her three months. This was a revised policy compared to two years ago when I introduced by wife and got paid immediately.
So, new policy is no spouses and you wait 3 months. However, that seems to meet the OP's criteria so his complaint seems justified...
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Post by chessie on Mar 20, 2017 13:14:34 GMT
My friend who is an existing SS investor recommended my wife {as T&C's state I could not recommend my spouse} and while my wife's funds are still invested 4 months later SS refuse to pay out my friend. Presumably due to me also being a member.
I have £2.5 Million invested in Saving Stream and whilst I was paid out for two referrals that I had previously made I will not be making any more recommendations.
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bfish
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Post by bfish on May 26, 2017 23:14:54 GMT
I referred my mother about 6 months ago and Tim quite happily accepted her, despite (obviously) being a close relative. The stipulation he made, however, was that the amount paid would be based on the initial investment, provided it was all still in the account her three months. This was a revised policy compared to two years ago when I introduced by wife and got paid immediately. So, new policy is no spouses and you wait 3 months. However, that seems to meet the OP's criteria so his complaint seems justified... I also referred my Mother just over 3 months ago. Tim confirmed my connection was registered on their system. Last Monday I rang and the agency(?) assured me my enquiry would be forwarded 'for urgent reply' - no reply. Later last Monday my Mother also emailed, attaching Tim's email from Feb 17th - no reply ! This morning, I rang again, and the agency(?) were very disappointed that I had heard nothing, and promised to speak to someone themselves, who would ring me back. Once again - NO REPLY ! ! Frankly, I am NOT impressed ! Then, this afternoon, the weekly update arrived from Paul Riddell . . . and low, there is a new scheme being launched - and I quote:- 'Most of us know that you can't get much better than a personal recommendation for a product or service. At Lendy, investors have been rewarded for recommending us to their friends through our affiliate scheme. But we haven't promoted it, or updated it in any way since launch. As part of a number of changes to the Lendy service this year, we’re set to launch an all-new Refer a Friend Scheme, which builds on the old programme by offering rewards for not only you but for any friends referred as well. And it’s more generous too, with a 5% bonus on interest earned for you and £50 cash back for your friend, when certain T&Cs are met. We’ll write to you again next week with full details.' Is this really the 'first class customer service at all times' that the company SAY they are committed to ?
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