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Post by cmundo on Sept 15, 2018 9:10:13 GMT
I don't check very often, but I've looked this morning and most of my QAA and 30 Day account balance is assigned to loans, with very low (much lower than I recall) margin remaining in cash? Is this a cause for concern when it comes to quick access to funds, or just a normal fluctuation? Anyone have a view?
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Post by westcountryfunder on Sept 15, 2018 17:09:20 GMT
I think it possible that you may have misunderstood the nature of these accounts. They are indeed invested in loans. The web page www.assetzcapital.co.uk/invest/our-accounts/quick-access-accountprobably tells you what you need to know. However, I have not found to date that there is any undue delay with withdrawals: anything from 24 to 72 hrs - usually 24. |
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bigfoot12
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Post by bigfoot12 on Sept 15, 2018 21:14:18 GMT
However, I have not found to date that there is any undue delay with withdrawals: anything from 24 to 72 hrs - usually 24. Even recently I have had money swept from my other accounts into QAA and I have had withdrawals (to buy other loans ) in seconds - perhaps I have been lucky.
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ceejay
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Post by ceejay on Sept 15, 2018 22:00:04 GMT
I think it possible that you may have misunderstood the nature of these accounts. They are indeed invested in loans. The web page www.assetzcapital.co.uk/invest/our-accounts/quick-access-accountprobably tells you what you need to know. However, I have not found to date that there is any undue delay with withdrawals: anything from 24 to 72 hrs - usually 24. I think the misunderstanding may be yours - yes, your money is invested in loans, but there has to be a cash buffer for it to be able to work. The size of this buffer isn't AFAIK, discussed by AC but can be calculated at any time.
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IFISAcava
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Post by IFISAcava on Sept 15, 2018 23:05:55 GMT
I calculated mine is at 99% invested in the 30-day - not sure if that includes accrued interest or not though. Not a huge buffer if a lot of people withdraw. But presumably in a 30 day account max turnover is 3.33% per day, and generally most of what leaves is replaced, so that 1% is enough (in usual circumstances, as they always say).
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IFISAcava
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Post by IFISAcava on Sept 15, 2018 23:10:20 GMT
Although QAA is also 99% invested
I suppose once it hits 100% then one would need to queue to get the money out (one pound in, one pound out, or sell the loans to another buyer).
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ceejay
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Post by ceejay on Sept 16, 2018 11:11:30 GMT
... But presumably in a 30 day account max turnover is 3.33% per day... Not sure why you would think that.
- Big confidence-sapping external event on Day 1.
- Surge of requests to withdraw on Day 2.
- Very large withdrawal required on Day 32.
Of course, the point of this scenario is that AC would have 30 days to try to get their ducks lined up so as to have a chance of meeting the demand in full, which is why they'd much rather we had our investment in 30DAA than QAA.
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IFISAcava
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Post by IFISAcava on Sept 16, 2018 11:21:50 GMT
... But presumably in a 30 day account max turnover is 3.33% per day... Not sure why you would think that.
- Big confidence-sapping external event on Day 1.
- Surge of requests to withdraw on Day 2.
- Very large withdrawal required on Day 32.
Of course, the point of this scenario is that AC would have 30 days to try to get their ducks lined up so as to have a chance of meeting the demand in full, which is why they'd much rather we had our investment in 30DAA than QAA.
OK, my mistake, not max turnover per se, but turnover on average in normal circumstances. Once there are not normal circumstances, and a surge, all bets are off (and AC make that very clear).
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ceejay
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Post by ceejay on Sept 16, 2018 11:42:37 GMT
Not sure why you would think that.
- Big confidence-sapping external event on Day 1.
- Surge of requests to withdraw on Day 2.
- Very large withdrawal required on Day 32.
Of course, the point of this scenario is that AC would have 30 days to try to get their ducks lined up so as to have a chance of meeting the demand in full, which is why they'd much rather we had our investment in 30DAA than QAA.
OK, my mistake, not max turnover per se, but turnover on average in normal circumstances. Once there are not normal circumstances, and a surge, all bets are off (and AC make that very clear). At the risk of flogging a dead horse ... nope, not "turnover on average", either, unless you think that the average investor pops money in and immediately queues it for exit. I don't know what the average is but I'd be surprised if the mean investment period were less than 100 days and the turnover therefore more than 1%.
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