rogedavi
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Post by rogedavi on Feb 1, 2018 12:03:18 GMT
I gave a friend the referral link and he invested 2k on day 1 in September last year.
Due to UB's ridiculously slow investment rate, he finally became fully invested today. When I enquired with UB to claim the referral bonus for the both of us, they reneged on their promise and hid behind the small print saying he didn't get invested within 90 days of opening the account.
I find this quite preposterous seeing as he did invest 2k on day 1, and the rate at which he can purchase loans on autoinvest is solely controlled by UB.
I for one find their refusal to honour their promise quite appalling, particularly when the condition they stipulated was outside of the investors control.
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Post by d_saver on Feb 1, 2018 12:14:29 GMT
Why is it people seem to join this forum to simply post poor reviews - poorly researched ones at that.
"the rate at which he can purchase loans on autoinvest is solely controlled by UB."
Sorry, but that's simply incorrect.
Did your friend check the auto invest settings? Does he realise he can increase the amount he wishes to put into each loan there and thus increase his investment rate?
I first funded my account 1st September too by coincidence - I have lent best part of 10k in that time.
Your friend is likely at fault. You didn't get your referral fee. Blame him for not reading the manual..
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Post by trentenders on Feb 1, 2018 12:15:45 GMT
Yes and no. 90 days is quite short if you are only looking for £5 per loan, but as it's only a £22 per day requirement, if your friend had reasonable maximum allocation settings (and not just on the protected classes) then they would have hit the target.
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rogedavi
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Post by rogedavi on Feb 1, 2018 12:29:05 GMT
I have had the account as well for around the same period with maxed out settings.
It took me 5 months as well, and an awful lot of congrats you just bought a £5.86 loan emails.
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Nomad
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Post by Nomad on Feb 1, 2018 13:53:22 GMT
I've invested >20K since July...
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registerme
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Post by registerme on Feb 1, 2018 13:56:03 GMT
rogedavi, you might not like how the scheme works, you might think there's reason to criticise it, but to call it a scam is a little strong, no?
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Post by skint4achange on Feb 1, 2018 14:12:32 GMT
I have had the account as well for around the same period with maxed out settings. It took me 5 months as well, and an awful lot of congrats you just bought a £5.86 loan emails. You have your settings maxed out? I very much doubt that you have your settings at maximum and are only lending at £5.86 per loan. I have just managed to set a maximum investment of £10,000,000 per loan.
The smaller loans will only give you a £5 ish investment, but if you have your settings correct the bigger loans will take much bigger chunks and get your money out faster.
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guff
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Post by guff on Feb 1, 2018 15:13:23 GMT
I have had the account as well for around the same period with maxed out settings. It took me 5 months as well, and an awful lot of congrats you just bought a £5.86 loan emails. So what are your Autoinvest settings for the Provisional Trust, Gold Trust and Bespoke Loans? My settings are nowhere near 'maxed out' and I've had a lot of "Congrats you just bought a £5.86 loan" emails but they've invested over £4k out of £5k in two accounts since November.
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stub8535
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personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Feb 1, 2018 17:46:50 GMT
Hm, I wonder if the p2p is an attempt to manipulate sentiment to discourage investors from joining in order to keep getting allocations?
Sad if someone has not read the small print nor looked at posts on here that talk of how to get allocated.
Sad that the OP and their friend missed out but if they wish to withdraw then they should just turn their autolend off and withdraw their money as it is repaid.
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Post by lionelrichtea on Feb 1, 2018 22:54:25 GMT
I should hit £2k pretty soon. The referral T&Cs didn't mention a 90 day limit when I signed up in August, and I recall verifying that there was no time limit with Live Chat. Damned if I can find a screenshot of the chat though.
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rogedavi
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Post by rogedavi on Feb 2, 2018 8:01:24 GMT
yep confirmed there was no notification of the 90 day limit at the outset
so i stand by my assertion that its a scam. and if that's a bit harsh, then at the very least its misleading / withholding the true facts
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Post by trentenders on Feb 2, 2018 8:06:23 GMT
yep confirmed there was no notification of the 90 day limit at the outset so i stand by my assertion that its a scam. and if that's a bit harsh, then at the very least its misleading / withholding the true facts You suggested in your op that it was in the small print. If that's not the case then I would be arguing for my referral fee to be paid. Its still not a scam though.
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dermot
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Post by dermot on Feb 2, 2018 9:10:48 GMT
I had no problem at all getting invested in time to get the bonus, also starting on 1st September, but then I looked before I (financially) leapt.
I do think the subject line is very unfair.
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star dust
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Post by star dust on Feb 2, 2018 9:14:14 GMT
Mod Hat On/ Well, as rogedavi didn't seem to want to change the thread title I thought I'd do it for them. "Scam" implies fraud and dishonesty and I really don't think that applies in any way to the Unbolted scheme, so leaving it out there in a thread title didn't seem appropriate. |
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stub8535
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personal opinions only. Not qualified to advise on investment products.
Posts: 1,442
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Post by stub8535 on Feb 2, 2018 9:15:40 GMT
I should hit £2k pretty soon. The referral T&Cs didn't mention a 90 day limit when I signed up in August, and I recall verifying that there was no time limit with Live Chat. Damned if I can find a screenshot of the chat though. Lionelrichtea I hope you can find your screenshot. Just a heads up for keeping a record of live chat. There are the three bars at the top of page that give you the option of where you want a record sent. I ask for email for mine, where important data is gleaned, which then get stored with all the others. I hope you manage to get things sorted out. S
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