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Post by nesako on Apr 26, 2017 14:08:28 GMT
Noticed this in the latest newsletter, but it did come unannounced...
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Post by nesako on Apr 26, 2017 12:23:52 GMT
Twino are well aware of the issue and I wrote to them personally to complain multiple times. They said they have plans to improve it, but since there is no timescale I have already withdrawn all the money from them since daily login was pain in the rs... again, the great thing about Twino is that I was able to completely sell-out and withdraw within 24 hours with all up to date interest. None of the other platforms I invest in would be able to match this speed of exit.
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Post by nesako on Apr 24, 2017 14:41:51 GMT
DoFinance is part of the Alfa Finance Group – an online lending and investment management company operating in Poland, Georgia and Indonesia. Given this is yet another institution offering loans in Georgia, while I have not yet been to Georgia, the image I have in my head is of the country where each town has 25 different loan shops on each street. Pretty much, "I would like a beer and a ლ500 loan please!" sort of place...
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Post by nesako on Apr 21, 2017 8:04:05 GMT
Well, all I can say, all Banks try their best to rip off customer, neither of them are "good", just some are way worse than others... and I have seen much worse examples outside the UK. "Compensation" is not even in a Banking dictionary in some countries, all you get is "Tough , there are no regulations here". Being sold stuff you do not need - this does open another can of worms, most people cannot manage money, never read any terms given to them and just blindly trust the advice given by the sales person. People need protection from themselves these days...
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Post by nesako on Apr 20, 2017 12:10:37 GMT
Looking after 29 platforms pretty much makes it a part-time job? If you have that much money, you should really diversify outside the P2P, unless you already have substantial amounts in Stocks & Shares etc.
In terms of P2P, I can probably agree with around 6....
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Post by nesako on Apr 13, 2017 10:49:30 GMT
The question might as well be which apple looks most like an orange. And the answer would be, this one: But you are right, Apples are only "wannabe" Oranges
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Post by nesako on Apr 13, 2017 8:48:33 GMT
There is a risk with ANY P2P platform. Most platforms have limited info on who runs them / limited financials etc. etc. some will make things sound better than they actually are - you will just never know. As long as you never put more money in any platform that you would not be able to afford to lose, you will be OK. If losing money would financially break you - do not invest in P2P at all.
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Post by nesako on Apr 13, 2017 8:22:28 GMT
Funding Paysera from UK bank is only 30p fee (charged by PaySera), the way it works is you just make a Transfer to UK Natwest Bank account which belongs to PaySera and they then pick it up. As far as your UK bank is concerned, you are doing a local transfer. Then all you have to do is do a currency exchange on PaySera system to EUR, the rate they use is pretty decent.
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Post by nesako on Apr 12, 2017 14:53:46 GMT
Sent! Note that the miminum investment is now £2000 to qualify. Ha, yeah, just noticed that as well. Sneaky change in terms ey
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Post by nesako on Apr 11, 2017 13:58:59 GMT
Assetz QAA is closest to "Instant Access" savings account. GrowthStreet is one of the better options if you can wait 1 month, offering 6.5% APR. Plus, they have extended the secret "Tell a friend" bonus of £100 if you invest £1000 for a year - can provide a link if anyone is interested.
Zopa - Had invested for just one month on a trial and still managed to get some loans which got Delayed within days, now have to wait 4 months until Provision fund kicks in... I would not compare it with Savings Ratesetter - Rolling is quite similar to instant access, but there are days when you could not sell-out immediately, so may need to wait up to 1 month. Also chasing better rates requires some time...5 year can offer decent rate, but selling could be very expensive wiping off any gains.
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Post by nesako on Apr 10, 2017 11:02:08 GMT
Did you guys now get fully invested? Just checking before depositing more - no point if cash will just sit un-invested...
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Post by nesako on Apr 10, 2017 10:55:58 GMT
Did any of you guys already had any of the loans bough back under the Guarantee? Was it prompt on the 31st day, all interest for loan period + 30 days paid? Reason I am asking is that I got some spare cash at the moment, but did not want to put any more here without making sure Buyback works OK.
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Post by nesako on Apr 10, 2017 10:31:22 GMT
It just means that Twino are borrowing your money for much longer than if they have to repay it when the borrower defaults. The risk is entirely platform failure with no loans to maybe keep repaying which was a slight possibility before. No way to unload them if you lose confidence. Hopefully we will continue to see regular accounts for Twino/Finabay. Probably Twino platform will be OK for a while, but if anything goes wrong you are then stuck with hundreds of unsecured personal loans, with some already Defaulted. This is why I prefer short term loans for "personal unsecured" and then I am all good with long loans with low LTV / decent collateral as a back-up.
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Post by nesako on Apr 10, 2017 9:17:31 GMT
Payment guaranteed loans cannot be sold when defaulted (=after the 30th day of delay). So Twino will service the debt for the remaining duration but you don't have the option to exit prior to maturity anymore. I for my part stay away from them. Considering ALL recent loans are PG, this is bad news... I am not sure how I missed this, I can almost guarantee this was added later on since when I was reading FAQ's immediately after PG option was introduced, I cannot remember reading that paragraph. I am pretty sure it said "Defaulted" status did not apply to PG loans at all. Thank's for the heads' up though, I will now hope there will be people who will buy my loans once they get Delayed, since I do not want to be stuck with either for a year...
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Post by nesako on Apr 7, 2017 10:10:28 GMT
It would also be nice to see how many people use the EUR forums from the poll. There are the usual supects who post but there maybe be a lot more people who just read but might like to contribute to the poll. I think that ViaInvest is a bit underused at the moment and it's popularity will grow due to the reliability of short-term 12% loans and having a larger company behind. The only thing I do not like about ViaInvest is that they are withholding Tax, I was told I need to provide UK Tax certificate for each country I am planning to invest in, so a big pain is the ass...
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