ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329 
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Post by ilmoro on May 17, 2018 9:25:55 GMT
I am struggling to get a modest amount invested on the QAA. I transferred some money over 12 hours ago and it is still in a queue Ah, my experience is that you should be able to invest in it almost instantly. There is a £200k; limit are you over that? If not can you give a bit more detail or use the "Live Chat" button on the side of the screen when logged into AC. Its only a million below its cap and with several repayments yesterday its possible that funds flowing from the MLIA could have caused a temporary queue.
chris I assume the cap will get a bump to accomodate potential inflows from the rate boost
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Post by chris on May 17, 2018 9:30:16 GMT
Ah, my experience is that you should be able to invest in it almost instantly. There is a £200k; limit are you over that? If not can you give a bit more detail or use the "Live Chat" button on the side of the screen when logged into AC. Its only a million below its cap and with several repayments yesterday its possible that funds flowing from the MLIA could have caused a temporary queue.
chris I assume the cap will get a bump to accomodate potential inflows from the rate boost The cap has been boosted.
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cb25
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Post by cb25 on May 17, 2018 9:31:23 GMT
How do you see a loss occurring in this PF-protected account ?If I compare AC's 30-day account @ 5.1% vs my oldest FC account and my Zopa account, each of FC and Zopa -is currently returning less than 5.1% (in my case) -has no provision fund -has a proven history of bad debt (quite a lot in Z at the moment) Accept AC might not use the PF against bad debt, but until that happens AC is a bit of a no-brainer for me. I am not sure if that is a serious question? BUT just in case I think there is ~ £120m in the access accounts with ~ 350 loans. I do not know what amount of that is currently suspended/defaulted but I imagine it is about 10% (£12m). How big is the PF that covers losses on these accounts? I do not know. Do you? Yes, was a serious question. No, I don't know the size of the PF, but it doesn't have to cover the suspended/defaulted loans in their entirety, just the shortfall after any recoveries. I'm not saying there won't be an impact on the PF, just that it's in the realm of "could happen" currently vs FC/Z which are "has happened on a regular basis".
I've misgiving about AC, e.g. I have £5500 in loan 227 (in default) with no sign of any real plan from AC and/or the borrower and don't see that ending well.
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Post by Badly Drawn Stickman on May 17, 2018 13:17:44 GMT
chris are there any new customer joining incentives atm or expected in the near future? Yes, there's a referral scheme on one of the director's desks at the moment awaiting approval. Just a suggestion, but why not wander in there and add 'signing on bonus' to the bit of paper. I am currently not a 'customer' but would not really need to be referred as I am well aware of the product. A signing on bonus could be bigger than a referral bonus as you only pay it once.
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Post by stuartassetzcapital on May 17, 2018 13:31:48 GMT
Hi, what level of signing on bonus ?
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cb25
Posts: 3,528
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Post by cb25 on May 17, 2018 13:42:11 GMT
Hi, what level of signing on bonus ? cf here's Ratesetter's offer "New investor offer: £100 bonus when you invest £1,000 or more for a year" www.ratesetter.com/
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
Likes: 11,549
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Post by ilmoro on May 17, 2018 14:25:53 GMT
Hi, what level of signing on bonus ? A two party referral bonus would be better ... ie refered & referee get something ... bit like Nationwide £100 for each. Means not only do new customers get something but also a chance for your existing customers to get something ... fairer, together 
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Post by Badly Drawn Stickman on May 17, 2018 14:29:32 GMT
Hi, what level of signing on bonus ? Hmmm haggling, I like that. I will open with £1000 (cash brown paper envelope etc). I am however open to offers.
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Post by Badly Drawn Stickman on May 17, 2018 14:35:18 GMT
Hi, what level of signing on bonus ? A two party referral bonus would be better ... ie refered & referee get something ... bit like Nationwide £100 for each. Means not only do new customers get something but also a chance for your existing customers to get something ... fairer, together Arguably there is room for both, working side by side, just more beneficial to direct sign up. A genuine referral deserves reward, a marriage of convenience less so.
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Mike
Member of DD Central
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Post by Mike on May 18, 2018 20:38:55 GMT
P2P will become a monopoly of a couple of 'blue-chip' and a score of 'AIM-listed' platforms.
For the second time, I'm regretting passing on seedrs... AC are cementing their place in the former group as far as I'm concerned.
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alexs
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Post by alexs on May 21, 2018 9:20:48 GMT
P2P will become a monopoly of a couple of 'blue-chip' and a score of 'AIM-listed' platforms. For the second time, I'm regretting passing on seedrs... AC are cementing their place in the former group as far as I'm concerned. There is always a chance to buy some AC shares on the Seedrs secondary market every first Tuesday in the month... 
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Post by bikeman on May 23, 2018 17:52:15 GMT
Very welcome indeed! 'We're excited to announce our first ever rate rise across our Access Accounts! This rate increase which takes effect from 1st May 2018 until further notice, will take target gross interest rates for the Quick Access Account and 30-Day Access Account from 3.75% to 4.1% and 4.25% to 5.1% respectively.* ' I'm not convinced. Been bitten by the GEIA, I'm not stupid enough to be suckered in again. AC seem to make it up as they go along, I don't trust them and they wont be getting anything from me.
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cb25
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Post by cb25 on May 25, 2018 15:30:49 GMT
Despite having waited 8 days, still yet to receive an answer to "how much notice will AC give of any reduction in the 30-day rate?"
Got an email today from AC, but doesn't really answer that question.
"Thank you for your Patience while I have looked into this query.
With regards to the 30 Day Access Account Ordinarily we would announce rate changes at the start of a month but in this case a decision was made to launch the new rate part way through a month. However, although the rate change was midmonth we are back dating the positive increase and funds that were in the account at the start of May and before the increase will benefit from an increased rate of interest.
The current rate rise is for an indefinite period of time. It could change in the future but we haven’t decided if/when it will."
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Until that question is answered, sensible option for large amounts would seem to be - only invest in the first few days of a month, in case the rate drops at the start of the next month (and you get the current rate for each day invested, rather than the rate when you invested)
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trevor
Member of DD Central
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Post by trevor on May 25, 2018 15:39:35 GMT
I find that AC are better than the average in every facet of P2P. I would be very surprised and disappointed if they gave less than 30 days notice of an interest rate change on the 30 days notice account.
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cb25
Posts: 3,528
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Post by cb25 on May 25, 2018 15:43:15 GMT
.. I would be very surprised and disappointed if they gave less than 30 days notice of an interest rate change on the 30 days notice account. Agreed. I can't understand why they can't just say "of course we'll give at least 30 days notice of any drop in rates (emergencies excluded)"
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