invester
P2P Blogger
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Post by invester on Oct 3, 2018 17:43:34 GMT
Has anyone else had this problem?
I reconcile all my balances monthly, so I have a record of what is where.
Seems to me that my LW balance has gone down by c.£60 overnight.
Is this a fault, or perhaps has a loan defaulted somewhere? I know that a decreasing balance happens fairly regularly on Zopa!
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Post by mcpete on Oct 3, 2018 21:00:10 GMT
Has anyone else had this problem? I reconcile all my balances monthly, so I have a record of what is where. Seems to me that my LW balance has gone down by c.£60 overnight. Is this a fault, or perhaps has a loan defaulted somewhere? I know that a decreasing balance happens fairly regularly on Zopa! Yes, just noticed my total balance has dropped by about £20 over the last day or two. Hoping just a glitch that sorts itself out...
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Post by Proptechfish on Oct 3, 2018 21:45:50 GMT
Has anyone else had this problem? I reconcile all my balances monthly, so I have a record of what is where. Seems to me that my LW balance has gone down by c.£60 overnight. Is this a fault, or perhaps has a loan defaulted somewhere? I know that a decreasing balance happens fairly regularly on Zopa! Yes, just noticed my total balance has dropped by about £20 over the last day or two. Hoping just a glitch that sorts itself out... I have had the same, but it happened a few days ago during the day but corrected by 8-pm, once may be a glitch but twice in a week with no explanation is worrying. Edit: Just checked and my balance is still down
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Post by loadsamoney on Oct 4, 2018 0:56:42 GMT
They've stopped including accrued interest in total. Could that be it?
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Post by carol167 on Oct 4, 2018 7:05:10 GMT
Same here, compared to yesterday's balances I'm down £31 on my main account and £66 on my ISA. I'll check again later and see if it's corrected itself.
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jo
Member of DD Central
dead
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Post by jo on Oct 4, 2018 8:32:00 GMT
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toast
Member of DD Central
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Post by toast on Oct 4, 2018 10:34:30 GMT
Looks like I'm affected too. I've emailed customer support to see what they think.
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Post by carol167 on Oct 4, 2018 11:11:20 GMT
Checked again just now - still down by the same amounts.
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benaj
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Post by benaj on Oct 4, 2018 11:20:51 GMT
I got lucky, not being affected atm. I haven't done a top up since my account opening in April
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Post by Matthew on Oct 4, 2018 12:17:38 GMT
Hi guys
Apologies for any confusion caused. We've removed the 'Accrued interest' figure from the 'Total account value' for a number of reasons (there is a link to this information after clicking 'More' on the 'Total account value' card which you may not have seen).
Accrued interest was a projection of the interest earned since the last repayment received on each chunk, but not yet received. As such, it was sometimes different from the actual interest received at the end of each month (due to early settlements, cancelled loans etc). This volatility caused some concern with investors who saw their account value fluctuate day to day. In addition, the constant re-calculation of accrued interest on each chunk for each investor (some of which have thousands of individual chunks) could often cause the dashboard load time to be negatively impacted, and we felt the benefits of retaining it were not worthwhile.
Please note that there is no impact to actual repayments received or to be received, and any accrued interest which was displayed immediately prior to it being removed will be received with the next repayments on each of your chunks.
Hope this helps but please let me know if you have additional questions.
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invester
P2P Blogger
Posts: 612
Likes: 618
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Post by invester on Oct 4, 2018 15:53:03 GMT
Makes sense. Thanks for the explanation, Matthew.
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