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Post by Duane Dibley on Oct 25, 2018 20:45:57 GMT
AC Chris explained in an earlier post that the ISA wrapper is provided by a third party so delays can be expected. Transfers in and out are handled by the 3rd party, as are things like HMRC reporting. Sorry but I'm just not buying that. AC must use this mysterious 'third party' for a reason. It's clearly not to benefit their customers so presumably it's to benefit AC themselves. For them to then turn round and try to circumvent liability by blaming this unknown third party is quite frankly taking the proverbial. Assetz Capital choose to use this third party not the customer, the customer invests their money with Assetz Capital not anybody else and if this third party can't do what AC are advertising they do then AC should fess-up and do something about it, not try to shift the blame on to them. It's just like when banks and utility companies use untrained customer advisor-monkeys on minimum wage and reading from a computer script or barely literate Indian call centres and then tell us all that it's part of improving the consumer experience. B****cks, it's nothing to do with improving customer service and everything to do with saving money. When P2P first started, high quality customer service, in comparison with high street banks at least, was one of the attractions, but as these companies get bigger then customer service is one of the first things to go out the window in their chase for ever increasing revenue and profits. Maybe if AC spent some of their cashback budget on training their customer service personnel the difference between withdrawals and transfers they would find that growth occured naturally and sustainably not forced and transient. But as it is their poor customer service is one of the reasons I'm transferring (or at least trying to) my funds out of AC and into a more responsive and helpful company, Lending Works anybody. Well that and of course their can-kicking expertise. The rules allow providers 15 business days to transfer a cash isa to another cash isa and I fail to see why it should take any longer to transfer a cash ISA to the cash account of an IFISA or vice versa. (From receipt of instruction, 5 days for form to be sent to old provider, 5 days for funds/paperwork to be sent back, 3 days to credit funds, 2 days for post) Rules? There are rules? Well who enforces these rules? I feel a letter of complaint coming on. Seven weeks now.
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Post by Duane Dibley on Oct 18, 2018 20:23:43 GMT
In normal market conditions (such as now) then your withdrawal will be processed in a fraction of a second resulting in cash in the client money account - nearly £1bn of withdrawals from the access accounts have thus far been successfully completed in that way. Fractions of a second? Do you seriously expect people to believe that when they've been waiting weeks for a transfer? In 6 weeks there are 42 days. In 42 days there are 1,008 hours. In a 1,008 hours there are 60,480 minutes. In 60,480 minutes there are 3,628,800 seconds. Now just be honest Chris do you really think waiting 3,628,800 seconds for a simple ISA transfer is acceptable?
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Post by Duane Dibley on Oct 18, 2018 6:36:17 GMT
Actually my issue is much simpler. I found AC claims not to have received transfer forms and did not respond to queries. I hope this is just a communication glitch rather than an attempt to frustrate the process You're not alone with these unacceptable delays and I wonder what the real reasons are. Been 6 weeks for me waiting for the transfer to be completed. That's compared to Funding Secure where the money was transferred the same day as the request to the new provider was made. It's a not inconsequential sum I'm trying to transfer from AC, but the money is in their Instant Access Account so shouldn't need 6 weeks to process. But the longer it goes on the more I wonder whether the whole platform is a form of Ponzi scheme in which they are reliant on new money coming in to pay old money going out. Rather worrying if true and I see that chris is no longer responding to ISA queries on this thread.
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Post by Duane Dibley on Oct 17, 2018 21:59:46 GMT
Didn't understand a word of that.
But not only are they really excited they're also very excited and their friends equally excited.
That's a lot of excitement for a wet Wednesday night.
I'm in.
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Post by Duane Dibley on Oct 12, 2018 16:03:55 GMT
I think for some people Calender's work, for me they are pointless I can't remember the last day that events didn't make a nonsense of my plans for a day. They'd be better off making 4-month calendars and selling them for a third of the price. Every Christmas I get given a calendar, usually of kittens with balls of wool, sometimes horses in hats and very occasionally Nepalese mountain scenes. Every January I start filling it in diligently, dentist appointments, birthdays, freezer defrosting, lottery tickets, cat defleaing, all the important stuff. By April there's a few scribbled notes that I can't remember what they were for. By July it's blank. And by the end of October it's still showing August.
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Post by Duane Dibley on Sept 7, 2018 16:28:25 GMT
This week. Next week. Sometime. Never.
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Post by Duane Dibley on Sept 5, 2018 22:05:21 GMT
I'd be interested to know if you have any Halifax or Bank of Scotland accounts and whether the online banking for those accounts was also blocked? All part of the Lloyds Banking Group of course. Yes I do have accounts with Halifax, but no they weren't blocked, I've used them today without any problem. But I may just for the fun of it try to deposit from Halifax to GS tomorrow and see what happens.
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Post by Duane Dibley on Sept 5, 2018 20:57:15 GMT
Im with LLoyds, and this happened to me, it's how the money is handled that looks wrong to the banks. Been problem free ...money both ways since. Mick. Regarding the Black Horse bank, there was a day it blocked my payment 4 times in a day. At the end, I spent a long time on the phone and I had to pop to the branch in person with ID to unblock payment. After making an official complaint, got paid £50 plus money for mobile calls and travel cost. Eventually, I found out from Bank's Tech support they don't like people using PC with teamviewer installed. It is unlikely to get blocked if the transfer is done by your phone app with TouchID / FaceID. Had the same issue myself with Lloyds today, but it was when using the app on my phone rather than a PC. Did a trial deposit yesterday for £100 which went through fine, tried again a few hours later for a larger amount which was refused but was allowed to transfer a smaller amount which I did, tried again later and was refused again and my internet banking suspended. Rang them up this morning to try and get my account unblocked, I tried to explain about the payments but they just replied that they thought it was a scam (their words) and this type of payment was a common method of scamming, I then asked them to forget about the payment but just restore my internet banking as I use Lloyds for my everyday banking as well as an account just for P2P, they refused to unblock it insisting that I was a victim of a scam, so now have to take time off work and go to a branch, which to be fair is quite a novel experience for me so may take the kids and a picnic. Raises a couple of interesting questions though. Is this just Lloyds, I had the same problem with a deposit to Huddle which also resulted in my internet banking being blocked, and if it is which other banks don't have these issues? If PrePay Technology Ltd is, as Lloyds claim, a common vehicle for scams (and I'm not convinced it is and think it's probably just an excuse) should we as upstanding members of the community use platforms that also, however unwittingly (and I'm not accusing GS of anything), use it also? Good to hear that you got some compensation though because being without online banking even for a few days is certainly rather inconvenient, which makes me wonder how we ever coped before the internet.
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Post by Duane Dibley on Sept 2, 2018 19:04:25 GMT
Over the last 12-18 months I've seen quite a shift in the role of P2P investments in my personal investment/savings strategy.
When I started in P2P about 8 years ago, it was firmly in the wealth creation role, there were plenty of loans available at 13,14,15% and I would have been disappointed with any returns under 10%.
In the last couple of years there's been quite a change in the industry as a whole, heroes have become villains, platforms have gone bust and the defaults have racked up.
Simultaneously the role of P2P has changed for me personally as well, instead of wealth creation it now fulfils a role of wealth preservation, and instead of returns of 13,14,15%, I'm targeting returns of 4,5,6% and happy with anything that beats inflation.
I'm not saying one role or the other is any better or worse, I do still invest in one or two platforms that offer double digit rates, but the wealth preservation model just fits in with my own personal circumstances as I move from the accumulation phase to the consolidation phase.
So I was wondering whether other people's use of P2P investments has likewise changed over the years, either because of changes to the industry or changes in personal circumstances, and whether that change, like me, is becoming more conservative or alternatively more speculative.
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Post by Duane Dibley on Aug 22, 2018 21:11:47 GMT
When the forum started there was some decent DD on both platforms and loans but this now seems to be swamped by noise and negative posts about both platforms and loans. It's no wonder really me duck. When this forum started P2P was the shiny new thing, hip, trendy and THE place to put your hard-earned into. Roll on a few years and the shine has tarnished somewhat and flaked off altogether in places leaving people to ask themselves why on earth did I put my money into a half-built block of flats somewhere I'd never heard of, when I could have invested it in Google, Amazon or Microsoft? So it's no surprise that the thread below this one is full of people questioning how to transfer their money out of P2P as fast as they can.
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Post by Duane Dibley on Jul 21, 2018 19:55:43 GMT
Given Lendy track record in extending loans, did anyone really think the Vote would close on time I expect we'll get an update soon telling us how well the counting of the votes is progressing, that we should expect further news of important developments on the vote sometime next week and how confident Lendy are that the final result will be published by the end of next month at the very latest.
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Post by Duane Dibley on Jul 21, 2018 12:41:47 GMT
Prudent allocation turns to "well, I can always sell it down on the SM later" Isn't that phrase copyright the Lendy board circa July 2016?
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Post by Duane Dibley on Jul 21, 2018 11:59:15 GMT
I think currently on any other platform this loan would be languishing part filled for weeks, Ablrate for various reasons is the platform of choice for money that people are wanting to invest. This seems to create a strange alchemy that to some minds turns poor loans into gold. Ah yes Idiot you may well be right. So, the baton's been passed from Saving Stream through MoneyThing and now rests with Ablate. They key in my opinion is not to identify the current front runner, the leading light, but the one waiting in the wings, or even the one after that.
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Post by Duane Dibley on Jul 21, 2018 10:47:58 GMT
Is it me? It usually is.
But I just can't get my head round these types of loans.
When the loan first appeared this forum was full of posters saying how they wouldn't touch it with someone else's bargepole, how they wouldn't be surprised if investors lost every penny, that they were out, yes definitely out.
Then once it goes live everyone's complaining how they couldn't get enough of it, how it was the best thing since Mr Warburton accidentally dropped his loaf in the bacon slicer, how very fortunate they were just to get the miserley crumbs they ended up with, how it was a keeper, yes definitely a keeper.
So is it double-bluff or is it triple-bluff?
Are people slagging off good quality loans so they can grab a little more for themselves, or are they bigging-up poor quality loans so they can sell off at a profit on the secondary market?
Now personally I wasn't that impressed by the security so didn't partake at all.
Or did I?
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Post by Duane Dibley on Jul 7, 2018 18:53:49 GMT
Anybody fancy referring me and splitting the bonus? Best offer wins.
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