cmep
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Post by cmep on Jul 18, 2017 13:22:57 GMT
I guess I should have read more of the forum threads before transferring £1000 to them yesterday. As things currently stand, my funds have still not reflected, despite sending them a reminder email a few hours ago. This is really not acceptable, especially when you consider how efficient most other platforms are at reflecting funds transferred via BACS.
So, the question is: Do I invest my £1000 with them (the withdrawal time complaints are speaking volumes), or do I instantly withdraw it and move on, having wasted merely a bit of time. The services levels are seriously lacking ITO processing payments/transfers, which is one of the most basic processes they have to deal with, so for me, its starting to ring some bells that all is not well in the Empire....
Thoughts?
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pauls
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Post by pauls on Jul 18, 2017 15:14:52 GMT
Ask to withdraw. If funds don't get returned in a few days then email and remind the admin.
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jfm
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Post by jfm on Jul 19, 2017 9:25:10 GMT
There have been no new loans for about a year. Only second hand parts at a premium (with pre-payment risk) for some time. Draw your own conclusions. My guess is that platform is too small to get FSA approval, but happy to be proved wrong.
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ben
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Post by ben on Jul 21, 2017 14:53:04 GMT
There have been no new loans for about a year. Only second hand parts at a premium (with pre-payment risk) for some time. Draw your own conclusions. My guess is that platform is too small to get FSA approval, but happy to be proved wrong. I do not think size has anything to do with FSA approval it is how they do they do things. FE is still a good site even though have not lent any money out in a long time, I have had no defaults and very few late payments. Hopefully they have plans as I doubt at the moment it is making enough to pay the staff wages.
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jfm
Member of DD Central
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Post by jfm on Jul 23, 2017 10:06:53 GMT
My suspicion is that it too small to have staff, ben . In which case wages not a problem. |
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ben
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Post by ben on Jul 24, 2017 13:45:28 GMT
The site is still being run, money withdrawn, payments made so somebody must be there still.
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hendragon
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Post by hendragon on Jul 24, 2017 14:52:27 GMT
I left funding empire some time ago due to the lack of new loans. That was the only reason, the defaults, or rather lack of them, and excellent customer service meant I left with some regret. If you have a problem it used to be Parag@fundingempire.com to sort it out. If Parag Patel is still around he always sorted out anyproblem I had.
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shimself
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Post by shimself on Aug 1, 2017 18:29:58 GMT
Not long ago I emailed Parag and he said he was doing FCA Authorisation and then he'd have new loans. Let's hope so
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hendragon
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Post by hendragon on Aug 1, 2017 20:58:31 GMT
that would be good news and would certainly get me investing again
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Post by explorep2p on Aug 1, 2017 21:39:55 GMT
that would be good news and would certainly get me investing again Please do not use the FCA authorisation as some kind of official seal of approval. It could not be further from that.....
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shimself
Member of DD Central
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Post by shimself on Aug 2, 2017 7:10:47 GMT
that would be good news and would certainly get me investing again Please do not use the FCA authorisation as some kind of official seal of approval. It could not be further from that..... Well they won't allow a platform to offer an ISA without it so ....
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hendragon
Member of DD Central
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Post by hendragon on Aug 2, 2017 8:46:53 GMT
that would be good news and would certainly get me investing again Please do not use the FCA authorisation as some kind of official seal of approval. It could not be further from that..... The reasons for my re-investing in FE would have nothing to do with the FCA authorisation. It would be based on the fact that FE was a very well run platform with no defaults. Unfortunately FE seemed to be unable to find any new loans.
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Post by parag on Aug 2, 2017 20:50:49 GMT
hendragon Thank you. We continue to do our utmost to provide excellent customer service. We do have plans but as they involve other parties I cannot disclose them quite yet.
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kaya
Member of DD Central
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Post by kaya on Aug 14, 2017 12:29:05 GMT
I guess I should have read more of the forum threads before transferring £1000 to them yesterday. As things currently stand, my funds have still not reflected, despite sending them a reminder email a few hours ago. This is really not acceptable, especially when you consider how efficient most other platforms are at reflecting funds transferred via BACS. So, the question is: Do I invest my £1000 with them (the withdrawal time complaints are speaking volumes), or do I instantly withdraw it and move on, having wasted merely a bit of time. The services levels are seriously lacking ITO processing payments/transfers, which is one of the most basic processes they have to deal with, so for me, its starting to ring some bells that all is not well in the Empire.... Thoughts? Currently running on a part-time basis apparently, which is why transactions may lag a bit (though not as much as this reply!) Funding Empire still has the distinction of a 100% clean repayment record. Hope it will be back with new opportunities soon. Reasonable deals do appear on the secondary market from time to time.
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