stokeloans
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Post by stokeloans on Apr 26, 2017 15:34:50 GMT
It states clearly on the website "Making one-off payments into your RateSetter account
You can transfer funds into your RateSetter Holding Account by Debit Card or Bank Transfer.
Bank Transfer deposits should be in your RateSetter account within 4 hours."
I made a deposit yesterday by bank transfer that hadn't arrived within 24 hours so phoned Ratesetter to be told that bacs transfers can take upto 3 days.3 days !!! in this day and age !!!
Who is responsible for these transfers,a tortoise !!!
You need to get your act together Ratesetter and as a minimum get your website in agreement with your call centre
Edit,I just did a transfer to Moneything that was in my account in 10 minutes !
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pikestaff
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Post by pikestaff on Apr 26, 2017 20:57:03 GMT
It states clearly on the website "Making one-off payments into your RateSetter account You can transfer funds into your RateSetter Holding Account by Debit Card or Bank Transfer. Bank Transfer deposits should be in your RateSetter account within 4 hours." I made a deposit yesterday by bank transfer that hadn't arrived within 24 hours so phoned Ratesetter to be told that bacs transfers can take upto 3 days.3 days !!! in this day and age !!! Who is responsible for these transfers,a tortoise !!! You need to get your act together Ratesetter and as a minimum get your website in agreement with your call centre Edit,I just did a transfer to Moneything that was in my account in 10 minutes ! Transfers by faster payments should be there within 2 hours. I assume RS say 4 hours to allow time for processing at their end. BACS transfers normally take up to 3 working days. See eg www.barclays.co.uk/help/payments/payment-information/bacs-chaps-faster-payments/Did you send your transfer as a faster payment or as a BACS?
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Post by WestonKevTMP on Apr 27, 2017 6:14:54 GMT
Personally I never liked making BACs payments, always felt like sending money off into the unknown hoping you got the right bank account details and reference. I appreciate you have to transfer £1,000 to avoid fees, but I always used debit card payments on the RateSetter site. It felt safer and I could lend instantly; The debit card functionality was always a bonus to me, for a variety of interpretations around regulatory restrictions on client cash (and who funds until the payment truly clears, which can be days for failures) and the need for a strong balance sheet - RateSetter is one of the only platforms to offer debit card functionality. Kevin.
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hendragon
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Post by hendragon on Apr 27, 2017 7:27:39 GMT
TMP takes debit cards too.......thought I'd mention that Kev
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stokeloans
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Post by stokeloans on Apr 27, 2017 12:37:31 GMT
It states clearly on the website "Making one-off payments into your RateSetter account You can transfer funds into your RateSetter Holding Account by Debit Card or Bank Transfer. Bank Transfer deposits should be in your RateSetter account within 4 hours." I made a deposit yesterday by bank transfer that hadn't arrived within 24 hours so phoned Ratesetter to be told that bacs transfers can take upto 3 days.3 days !!! in this day and age !!! Who is responsible for these transfers,a tortoise !!! You need to get your act together Ratesetter and as a minimum get your website in agreement with your call centre Edit,I just did a transfer to Moneything that was in my account in 10 minutes ! Transfers by faster payments should be there within 2 hours. I assume RS say 4 hours to allow time for processing at their end. BACS transfers normally take up to 3 working days. See eg www.barclays.co.uk/help/payments/payment-information/bacs-chaps-faster-payments/Did you send your transfer as a faster payment or as a BACS? To the best of my knowledge all my transfers go as faster payments.I am transferring money on an almost daily basis to various banks and without exception they all appear in my account within minutes, if not immediately. Like I said I sent a deposit to MT ....from the same account...and it was in my account in seconds. If Ratesetter can't process faster payments.....which I'm sure they can as their banks Barclay's can....they should make it clear on their website
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mb
Posts: 38
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Post by mb on Apr 27, 2017 21:19:44 GMT
Just to redress the balance a little ... my own experience is that the time taken for bank transfers to be available for lending is a bit variable but is typically quick. A wild guess, I'd say it's averaging 3 hours for me. Which is pretty good in my opinion.
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stokeloans
Member of DD Central
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Post by stokeloans on Apr 28, 2017 11:37:21 GMT
My deposit finally went in 20 minutes ago
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Post by BrianC on Oct 8, 2017 15:01:53 GMT
I wanted to deposit just under £1000 this morning so used the bank transfer for the first time. The RS website makes no mention of how it may be slower on a Sunday. Over 4 hours later and still nothing showing in my account . I appreciate many financial platforms don’t process payments on a Sunday but if that’s the case they should say so on the website. Anyone got experience of Sunday bank transfer deposits?
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jcb208
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Post by jcb208 on Oct 8, 2017 19:03:02 GMT
The last transfer I done on a Saturday evening arrived in my account by the Monday morning so If I am in a hurry to invest I use a debit card now
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Post by BrianC on Oct 8, 2017 21:02:25 GMT
Yep 10 hours later and nothing. Will go back to card deposits. Been some decent rates on offer today so a shame. They really should put on the website that the 4 hours is only during office hours.
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Post by investor1925 on Oct 13, 2017 10:30:34 GMT
Just did a credit transfer using my debit card. (11:28 13th Oct)
Reply from RS came up instantly that the money was in the account, & behold, there it was.
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Post by BrianC on Oct 13, 2017 18:52:33 GMT
That bank transfer I did on the Sunday late morning finally appeared at 01:05 Monday morning. I know the time due to getting an email notification. Random time to eventually get it and a lot longer than 4 hours. I’ll stick to card deposits but every now and then I want to put in less than £1000.
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Post by mukiwa on Oct 13, 2017 20:07:55 GMT
Forget bank transfers if you want to take advantage of current rolling rates. I used my debit card for a 10k transfer and it was in my Ratesetter account within seconds, and lent out all done and dusted in 5 mins. Not sure what the limit is using a Debit card is? But I'll never use a bank transfer from now on.
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Post by GSV3MIaC on Oct 14, 2017 17:16:15 GMT
The limit depends on your bank, but I have managed a full ISA deposit with no issue .. but when I tried 10k and then another 10k I got declined .. and I had to jump through multiple hoops via phone to get a car paid for, despite having specifically funded the account for just that purpose. Best advice .. either ask your bank, or else 'suck it and see'.
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Post by barneywol on Oct 17, 2017 6:57:34 GMT
The limit depends on your bank, but I have managed a full ISA deposit with no issue .. but when I tried 10k and then another 10k I got declined .. and I had to jump through multiple hoops via phone to get a car paid for, despite having specifically funded the account for just that purpose. Best advice .. either ask your bank, or else 'suck it and see'. Most banks have a hard £20k per day rule, and won't budge even on phone call to head office call centre, or even personal visit to "you" branch. I did partially get around that a little while ago by transferring "the other £20K" into the Instant Savings Account with the same bank (which it DID allow after the first £20K external payment), and then making said second payment from the Instant Savings account! Not all banks allow payments from savings accounts though!
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