aju
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Post by aju on Jan 17, 2018 23:58:36 GMT
Mrs Aju, had an email notification yesterday that her request to move Classic Funds across to her ISA with SG was about to be carried out in the next couple of days. It's interesting that she requested it a couple of days after I did but she was notified before me.
Anybody else getting this one going yet?.
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Post by portlandbill on Jan 18, 2018 10:44:18 GMT
I'm still waiting for my email, I asked for it to be moved around the 24th November 2017
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benaj
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Post by benaj on Jan 18, 2018 10:47:52 GMT
Let me know if the transfer is done swiftly, say 10 days. At the moment, selling my remaining 2.26%portfolio at snail pace, something is wrong with zopa selling process.
Personally, I don't want to have an IFISA, I rather use my full ISA allowance instead
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benaj
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Post by benaj on Jan 18, 2018 10:50:51 GMT
Let me know if the transfer is done swiftly, say 10 days. At the moment, selling my remaining 2.26% portfolio at snail pace, something is wrong with zopa selling process. Personally, I don't want to have an IFISA, I rather use my full ISA allowance instead
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aju
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Post by aju on Jan 18, 2018 15:12:48 GMT
I'm still waiting for my email, I asked for it to be moved around the 24th November 2017 That's very interesting as both myself and Mrs Aju signed up to this in Dec and we both got acknowledgment emails on the 7th. I have been a member of Zopa since 2006 and Mrs Aju since April 2013 so its not that reason, Perhaps its based on how much one is signing up to as Mrs Aju has 100 less to xfer than myself as she made a booboo by sending £100 to ISA when she meant to send it to Invest. Long story ;-). Still nothing for me yet - I'm starting to feel left out .
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aju
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Post by aju on Jan 18, 2018 15:18:57 GMT
Okay when Mrs Aju logged in today she's getting a headline message in it own page stating same as eMail.
Bit worrying as that's the only thing she can see now!. Is that correct do you think.
Perhaps limited functionality is somewhat short of the mark more like no functionality at all!!!.
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Post by portlandbill on Jan 18, 2018 15:22:15 GMT
Maybe the priority is value based? I've only asked to move £3k cos I've used up most of my ISA allowance elsewhere this year.
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benaj
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Post by benaj on Jan 18, 2018 15:33:20 GMT
That's very interesting as both myself and Mrs Aju signed up to this in Dec and we both got acknowledgment emails on the 7th. I have been a member of Zopa since 2006 and Mrs Aju since April 2013 so its not that reason, Perhaps its based on how much one is signing up to as Mrs Aju has 100 less to xfer than myself as she made a booboo by sending £100 to ISA when she meant to send it to Invest. Long story ;-). Still nothing for me yet - I'm starting to feel left out . So Mrs Aju got £100 invested in Zopa ISA already on 7th Jan? Maybe the priority is value based? I've only asked to move £3k cos I've used up most of my ISA allowance elsewhere this year. It seems the issue is delay in selling the loans from Zopa. In other words, selling your 3k in your Zopa account and then transfer the money into ISA, perhaps. I am struggling to sell my remain 2.26% portfolio on Zopa Plus at reasonable pace. Most of the portfolio (97%) were sold within 20 days, but it seems the system itself does not like to sell remaining portfolio in reasonable time and expecting other events to happen instead.
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aju
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Post by aju on Jan 18, 2018 16:00:40 GMT
I've just been bending the someone in Zopa's ear as for me I accept that there would be limited functionality but no access other than being able to see personal details is a bit rich. I accept that the data may be limited from a change perspective but having no access at ALL other then a message telling me I have limited access is not acceptable.
There is no visibility on an account that has well over a 5 figure value, where only the Classic and ISACore should be affected the Plus products are not affected at all and should be visible.
I have also been told the priority of switching is not value or timing based its apparently based on loans matching etc. I guess MrsAju had loans that matched I don't as yet. I was also told that the whole process has to be completed before the end of Financial year as clearly delays will affect next years allowance if its not completed on time.
At present I have request daily emails of current and alltime csv's as an interim and the Zopa guy has gone away to find out if thats possible. I've also asked for statements as well but I suspect he'll be back with a negative response as I think the reason we have no access is that the money is being sold out in a way that the existing reports don't have the visibility.
I was also told that I was informed that this would be the case before signing up. Perhaps I did catch that bit but I was only ever expecting summary to be affected for Classic and ISACore. Perhaps I was naive or a bit thick.
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aju
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Post by aju on Jan 18, 2018 16:20:55 GMT
That's very interesting as both myself and Mrs Aju signed up to this in Dec and we both got acknowledgment emails on the 7th. I have been a member of Zopa since 2006 and Mrs Aju since April 2013 so its not that reason, Perhaps its based on how much one is signing up to as Mrs Aju has 100 less to xfer than myself as she made a booboo by sending £100 to ISA when she meant to send it to Invest. Long story ;-). Still nothing for me yet - I'm starting to feel left out . So Mrs Aju got £100 invested in Zopa ISA already on 7th Jan? Probably my bad explanation confused you. It just meant that of our £20000 allowance for the year Mrs Aju had lent more to her ISA Allocation than me due to the misdirected £100. She was meant to send it to SG Classic not to ISACore at the time as it was money that we wanted to cover rather than money we were gambling without cover. Sounds daft but it was our strategy at that time to leave the same on our ISA's waiting for the transfer with SG Cover that's just starting.
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Post by misotu on Jan 20, 2018 9:31:45 GMT
Well, I must be thick too aju because I seem to have misunderstood the whole process! The deadline to sign up was 2 January I think, and the bumph I had said they expected the process to take around eight days. Foolishly, I thought this meant that my money would be moved over by around mid-January. From what you're saying, we'll be lucky to make the end of the tax year!
Neither Mr M nor I have heard anything from Zopa, so thanks for this. Can you tell if withdrawals from holding are possible during the transfer process?
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aju
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Post by aju on Jan 20, 2018 9:54:01 GMT
misotu , Not through the online system, all you can do is read the message above and see your personal details. The person i spoke to seemed to think it was clear this would be the case when we signed up but I've looked back and can only find reference to summary being unavailable and not being able to change things. He did not seem to understand why i was arguing that only classic and cores should be affected so at least plus and safeguard should still be available and statements could be available. My main argument was that myself and mrs aju have considerably large sums invested here and no visibility at all for 10 days. At least i have some pre data to compare post data when it returns. One thing i am concerned about, and it was an after thought and that is the relend is on still during this process and our amounts to transfer could generate non sg loans >10 but we'll have to wait and see. Glad i held off from doing tranfer in from external ISA as the only way to increase 1% diversification is to move fund incoming back to holding and lend lower amounts.
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Post by misotu on Jan 20, 2018 10:13:48 GMT
That's bad news - I'm currently withdrawing from holding daily, and my repayments are not reinvested.
You are right, this was not clear at all from the information we had. I'm baffled as to why it should be necessary, too. Presumably this only applies to the Investing account, not the ISA account?
Since I'm not reinvesting, my only concern is funds building up in holding and not earning. That becomes a pressing issue if the process takes considerably longer than they have indicated - and since everything currently seems to take far longer than predicted I'm not optimistic.
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aju
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Post by aju on Jan 20, 2018 11:36:43 GMT
That's bad news - I'm currently withdrawing from holding daily, and my repayments are not reinvested. You are right, this was not clear at all from the information we had. I'm baffled as to why it should be necessary, too. Presumably this only applies to the Investing account, not the ISA account? Since I'm not reinvesting, my only concern is funds building up in holding and not earning. That becomes a pressing issue if the process takes considerably longer than they have indicated - and since everything currently seems to take far longer than predicted I'm not optimistic. Nope its a blanket affair, Mrs aju can see nothing other than personal details and the message during the 10 days it may take to move over. To be fair though they did say we would not be able to make changes - I think. Mrs Aju has both invest and ISA BTW
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Post by wyndstryke on Jan 21, 2018 0:05:50 GMT
Not had mine started yet either. It sounds like Mrs A is one of the first.
I did get a missed call from Zopa a few days ago - but I suspect most likely related to my transfer from an existing cash ISA into Zopa. I'd been holding back on returning their form until I knew whether I needed to change my car or not (fortunately the answer was 'not', so form has now been sent).
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