TFTO
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Post by TFTO on Jul 5, 2018 18:36:47 GMT
In my case after a week I am still without my money. The AC customer service seems to be quite incompetent, after 3 days they sent me an email to provide them a proof that I own the account, with some dodgy explanation that they changed the system and couldn't do this automatically anymore. The account was withdrawing to was the same as the one I used to fund the account, I also used it to withdraw money from AC many times. Nevertheless I sent them a scan of a bank statement. They were also supposed to call me to verify my id, which they didn't. I had to call them myself, they had problems finding my email but promised the money will be in my account by Monday morning. As you expect this has not happened yet. A very unprofessional company. I keyed the withdrawal request on Sunday and received an email from the 'Withdrawals Team' at 17:31 today (Tuesday) stating that because they regarded it as being a large sum, please could I reply to the email to confirm that I wanted to make the withdrawal. I replied within 20 minutes but of course leaving it so late to email me meant that my reply went after working hours so they could kick it into another day. The fact that I was withdrawing the funds into exactly the same account all of my AC deposits had originally come from didn't seem to carry any weight. Oh and while I'm being annoyed... Why on earth can't AC pre-populate the destination account details when I'm making a withdrawal. It is without doubt the dumbest 'feature' of AC because sooner or later I'm going to make a mistake keying those account details. I shudder to think how many lenders already have. None of the other P2P sites I lend with allow you to transfer cash out to anything other than the current account you registered with them. I had the same thing yesterday for a withdrawal request made at 09:17 on 0307, to which I replied immediately. I have heard nothing since and the money has not been sent to my bank account.
I also made a small withdrawal request on 02/07 at 07:53 and that has only hit my back account this afternoon.
This is very poor service.
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Post by davee39 on Jul 5, 2018 18:53:57 GMT
Following the comments here I attempted a test withdrawal at 7am Tue 3rd, I was asked for proof of Bank Account, despite numerous previous successful withdrawals, at 1pm on Wed (sent immediately). I had hoped it would have been processed today. I suspect their manual process is creaking and the service team is short staffed.
EDIT Fri PM
Just had call from assetz customer services following email query. They have had a high demand for withdrawals this week due to end of spring bonus. My withdrawal is in queue. Very quick response.
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m2btj
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Post by m2btj on Jul 9, 2018 15:30:15 GMT
Be interesting to see if new two factor secure log-in speeds up withdrawals.
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lara
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Post by lara on Jul 10, 2018 18:55:06 GMT
Why on earth can't AC pre-populate the destination account details when I'm making a withdrawal. It is without doubt the dumbest 'feature' of AC because sooner or later I'm going to make a mistake keying those account details. I shudder to think how many lenders already have. None of the other P2P sites I lend with allow you to transfer cash out to anything other than the current account you registered with them. Agree 100% with this.
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duck
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Post by duck on Jul 10, 2018 19:14:40 GMT
Why on earth can't AC pre-populate the destination account details when I'm making a withdrawal. It is without doubt the dumbest 'feature' of AC because sooner or later I'm going to make a mistake keying those account details. I shudder to think how many lenders already have. None of the other P2P sites I lend with allow you to transfer cash out to anything other than the current account you registered with them.Agree 100% with this. Just for the record Lendy do. They seem to allow you to transfer money back to the account that the money originally came from. That way I get my money back and my wife gets the tax liability  (Oh yes, I have made a mistake when trying to withdraw cash from AC - picked up at their end, I entered my Co's savings account number not the current account)
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DeafEater
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Post by DeafEater on Jul 10, 2018 20:25:11 GMT
(Oh yes, I have made a mistake when trying to withdraw cash from AC - picked up at their end, I entered my Co's savings account number not the current account) Interesting. So given that the people dealing with withdrawals are clearly checking transfer destinations very carefully and have an expected destination to check against, it would appear that the only reason for NOT pre-populating withdrawal account details is to make the process as awkward as possible. My 20k withdrawal took them 4 working days to action. Ironically the only reason I was making it was to transfer money from my regular AC account into my AC IFISA. The transfer back to AC took less than 30 minutes to appear in my IFISA cash account so roughly 200 times faster than the withdrawal. Funny old world.
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duck
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Post by duck on Jul 11, 2018 3:38:35 GMT
... Ironically the only reason I was making it was to transfer money from my regular AC account into my AC IFISA. .... You don't need to transfer the money out and then back in unless it is something that you want to do. If the money is in your regular cash account go into your ISA, go to the cash account there and 'add funds' and the money available in your regular cash account will show. Add this to the cash account in the ISA and then move it to which ever account that you want to in the ISA.
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DeafEater
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Post by DeafEater on Jul 12, 2018 8:56:06 GMT
... Ironically the only reason I was making it was to transfer money from my regular AC account into my AC IFISA. .... You don't need to transfer the money out and then back in unless it is something that you want to do. If the money is in your regular cash account go into your ISA, go to the cash account there and 'add funds' and the money available in your regular cash account will show. Add this to the cash account in the ISA and then move it to which ever account that you want to in the ISA. Well I didn't know that. In fact I thought I'd read on this forum that you HAD to withdraw it and transfer it back to the IFISA set of accounts. Now I can't decide whether I read that about a completely different P2P provider or whether AC added that feature after initial launch. Ah well I'll know for next time. On the plus side, it looks like purely by chance, I timed the withdrawal just right for the returning 20k to get classed as new money and thus eligible for the 0.5% Summer bonus so being incompetent does occasionally bring benefits. I believe there's an orange man currently visiting the UK who can testify to that.
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dc848
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Post by dc848 on Jul 12, 2018 9:10:49 GMT
You should say 'hello' to Star Dust, I'm sure he will be happy for you.
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IFISAcava
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Post by IFISAcava on Jul 12, 2018 10:35:41 GMT
You don't need to transfer the money out and then back in unless it is something that you want to do. If the money is in your regular cash account go into your ISA, go to the cash account there and 'add funds' and the money available in your regular cash account will show. Add this to the cash account in the ISA and then move it to which ever account that you want to in the ISA. Well I didn't know that. In fact I thought I'd read on this forum that you HAD to withdraw it and transfer it back to the IFISA set of accounts. Now I can't decide whether I read that about a completely different P2P provider or whether AC added that feature after initial launch. Ah well I'll know for next time. On the plus side, it looks like purely by chance, I timed the withdrawal just right for the returning 20k to get classed as new money and thus eligible for the 0.5% Summer bonus so being incompetent does occasionally bring benefits. I believe there's an orange man currently visiting the UK who can testify to that. It's that timing thing that has lead to me withdrawing the mid five figures sum I had put in for the previous bonus. It does seem that loyalty isn't rewarded by AC.
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Post by GSV3MIaC on Jul 12, 2018 11:20:55 GMT
DeafEater .. it was Moneything's ISA which (initially) lacked the internal transfer facility (now fixed). I think AC, ABLRate etc all had it since the beginning? I spent hours round-tripping a few £k to get the MT ISA filled up.
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DeafEater
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Post by DeafEater on Jul 12, 2018 12:10:59 GMT
DeafEater .. it was Moneything's ISA which (initially) lacked the internal transfer facility (now fixed). I think AC, ABLRate etc all had it since the beginning? I spent hours round-tripping a few £k to get the MT ISA filled up. I was pretty sure I'd read it somewhere but I'm on about half a dozen platforms (MT being one of them) so have clearly got confused about which board I was reading at the time.
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Post by dan1 on Jul 12, 2018 14:10:11 GMT
Well I didn't know that. In fact I thought I'd read on this forum that you HAD to withdraw it and transfer it back to the IFISA set of accounts. Now I can't decide whether I read that about a completely different P2P provider or whether AC added that feature after initial launch. Ah well I'll know for next time. On the plus side, it looks like purely by chance, I timed the withdrawal just right for the returning 20k to get classed as new money and thus eligible for the 0.5% Summer bonus so being incompetent does occasionally bring benefits. I believe there's an orange man currently visiting the UK who can testify to that. It's that timing thing that has lead to me withdrawing the mid five figures sum I had put in for the previous bonus. It does seem that loyalty isn't rewarded by AC. It's interesting isn't it, I wonder if platforms appreciate just how much these incentives encourage recycling of existing P2P cash? The industry has spectacularly failed to attract new funds even with FCA author. and IFISA.
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duck
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Post by duck on Jul 12, 2018 19:07:33 GMT
You should say 'hello' to Star Dust, I'm sure he will be happy for you. 
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DeafEater
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Post by DeafEater on Jul 13, 2018 10:02:16 GMT
You should say 'hello' to Star Dust, I'm sure he will be happy for you. I didn't like to say anything because although people are perfectly entitled not to specify their gender on this board, they can hardly complain when a pronoun is assumed. I'm Cassandra at the weekends... 
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