SteveT
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Post by SteveT on Mar 20, 2018 9:59:36 GMT
That is withdrawal from the site rather than from the QAA itself, and I presume that 3 days was over a weekend as there's currently a manual step in the withdrawal process. No, it's 3 working days. Withdrawals from QAA that span a weekend take 5 days. That's not my experience (over several years). There is a noon-ish cut-off for withdrawals (from your Cash Account) to be processed the same working day, but if you submit your withdrawal request at, say, 9am Monday then the money is usually in your account the following morning. If you miss the cut-off, add 1 working day. No processing at weekends.
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Post by Ton ⓉⓞⓃ on Mar 20, 2018 10:26:37 GMT
Not forgetting that your very first withdrawal from this and any platform will take a little longer as they are legally meant to carry out more checks which slows things down but this only applies to the first withdrawal.
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p2pete
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Post by p2pete on Mar 20, 2018 10:37:04 GMT
I've been leaving it a day or two after withdrawal and then asking in live chat eg: Me: I made a withdrawal recently, I can see the money has left Assetz but has not arrived in my bank account.
Ben: Ok, I can see the request, it just has not been actioned yet by the accounts department. This will be done as part of today's workflow. which gave me the impression they just sit on withdrawals until chased. There is a noon-ish cut-off for withdrawals (from your Cash Account) to be processed the same working day, but if you submit your withdrawal request at, say, 9am Monday then the money is usually in your account the following morning. If you miss the cut-off, add 1 working day. No processing at weekends. Thanks, I didn't realise that. The last 2 withdrawals were indeed submitted after noon. I'll do it in the morning in future to see if it improves withdrawal time. You'd think live chat would have pointed this out!
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markb
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Post by markb on Mar 20, 2018 20:05:26 GMT
I find that the noon "cut-off" often doesn't correspond to an achieved SLA: it's more "before noon => maybe, after noon => no chance".
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Mikeme
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Post by Mikeme on Mar 26, 2018 11:26:58 GMT
Should the loan totals on the CSV = the total shown as invested? Or is an amount as it were left in cash to allow for liquidity?
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amphoria
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Post by amphoria on Mar 26, 2018 15:03:24 GMT
Should the loan totals on the CSV = the total shown as invested? Or is an amount as it were left in cash to allow for liquidity? Yes, although this confused me when the loan holdings were first published as I was under the impression that some of the investment was held as cash. It is my understanding now that the cash element is held within the provision fund and consists of the difference between the interest rate paid by the account and the interest rate paid by the underlying loans. No doubt chris will correct me if I have not understood this correctly.
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Post by chris on Mar 26, 2018 15:08:52 GMT
Should the loan totals on the CSV = the total shown as invested? Or is an amount as it were left in cash to allow for liquidity? Yes, although this confused me when the loan holdings were first published as I was under the impression that some of the investment was held as cash. It is my understanding now that the cash element is held within the provision fund and consists of the difference between the interest rate paid by the account and the interest rate paid by the underlying loans. No doubt chris will correct me if I have not understood this correctly. Sorry that is incorrect. A portion of the 30DAA and QAA are held in cash to facilitate liquidity. The rest is invested in loan units which are then traded to maintain that cash buffer, with lender accounts being continually rebalanced to make sure everyone has precisely the same cash buffer and loan holdings. The provision fund is separate to this.
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amphoria
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Post by amphoria on Mar 26, 2018 16:40:33 GMT
Yes, although this confused me when the loan holdings were first published as I was under the impression that some of the investment was held as cash. It is my understanding now that the cash element is held within the provision fund and consists of the difference between the interest rate paid by the account and the interest rate paid by the underlying loans. No doubt chris will correct me if I have not understood this correctly. Sorry that is incorrect. A portion of the 30DAA and QAA are held in cash to facilitate liquidity. The rest is invested in loan units which are then traded to maintain that cash buffer, with lender accounts being continually rebalanced to make sure everyone has precisely the same cash buffer and loan holdings. The provision fund is separate to this. Which brings me to my original confusion. Why do I not see my share of the cash in my loan holdings? My assumption at the time was that the loan holdings really represented the percentage that I held in each loan (excluding any cash) rather than at absolute amount of my investment.
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Post by chris on Mar 26, 2018 16:50:44 GMT
Sorry that is incorrect. A portion of the 30DAA and QAA are held in cash to facilitate liquidity. The rest is invested in loan units which are then traded to maintain that cash buffer, with lender accounts being continually rebalanced to make sure everyone has precisely the same cash buffer and loan holdings. The provision fund is separate to this. Which brings me to my original confusion. Why do I not see my share of the cash in my loan holdings? My assumption at the time was that the loan holdings really represented the percentage that I held in each loan (excluding any cash) rather than at absolute amount of my investment. It was felt that displaying the cash portion would confuse lenders, as far as your return %age is concerned all the funds are lent as the system compensates for the cash portion in the amount retained for the provision fund. The amount you hold in each loan excludes your cash portion.
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