cb25
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Post by cb25 on Mar 7, 2019 17:18:59 GMT
I put some cash into this account, to 'test the waters'.
Some (2nd largest investment) has been invested into 312 which is a suspended loan!
I've been trying to sell some of this loan in my MLA acc., so not very amused that I now have even more of it.
See this entry by AC's chris earlier in this thread "Trading in suspended loans is only allowed in the access accounts whilst the provision fund has ring fenced funds to cover any expected losses of capital in those loans, i.e. the discretionary decision has been taken and the funds set aside."
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ceejay
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Post by ceejay on Mar 7, 2019 18:15:19 GMT
I put some cash into this account, to 'test the waters'.
Some (2nd largest investment) has been invested into 312 which is a suspended loan!
I've been trying to sell some of this loan in my MLA acc., so not very amused that I now have even more of it.
See this entry by AC's chris earlier in this thread "Trading in suspended loans is only allowed in the access accounts whilst the provision fund has ring fenced funds to cover any expected losses of capital in those loans, i.e. the discretionary decision has been taken and the funds set aside." Exactly. tarq - that's kind of the whole point of these access accounts - trading in suspended loans has to be permitted (given the coverage discussed above) otherwise they wouldn't be able to offer the promised liquidity.
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jlend
Member of DD Central
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Post by jlend on Mar 8, 2019 8:54:08 GMT
The contribution to PF per AA is less if the rate on the account (eg 90DAA) is higher than another (eg QAA) as the manual lending rate (MLA) is the same rate regardless of account. So the contribution to the QAA PF is higher than that to the PF 90DAA on a day to day basis. However that ignores an important factor. We can and do sometimes remove excess funding from PFs that are ahead of our target level of coverage ratio from time to time, and also can and do seed fund provision funds such as the new 90DAA by putting cash into them. In addition we may decide to move excess funding from one account to another if for example and account like QAA had a reduction in balance due to it being moved to the 90DAA and we were comfortable this was the correct thing to do. All of this will wash through to the coverage ratio published regularly (last was Dec 31st 2018 data) and soon to be refreshed. I hope this assists. Hi stuartassetzcapitalHas AC ever taken any excess from any of the investment account PFs ? GBBA1, GBBA2, GEIA, PSA? Or was your comment just referring to the access account PF regarding removing excess? Many thanks
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sl75
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Post by sl75 on Mar 14, 2019 7:58:35 GMT
Regarding various posts I made here earlier, for example: Latest figures for comparison (from about 50 minutes ago as of the time of this post): 90DAA: £6.81M 30DAA: £100.47M QAA: £56.68M Total: £163.96M So a significant net inflow of funds now - genuinely new funds have indeed been added... ... for those interested in those figures for a few more intermediate days, it has been drawn to my attention that Ton ⓉⓞⓃ has been maintaining a table here: p2pindependentforum.com/post/43912/thread including daily updates for current month. |
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Post by hammertime on Mar 14, 2019 15:28:12 GMT
Is the 90DAA that great if you have to wait all that time for maybe 0.25% extra really?
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bg
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Post by bg on Mar 14, 2019 16:28:28 GMT
Is the 90DAA that great if you have to wait all that time for maybe 0.25% extra really? It's 1% and you receive it on 28 May....plus of course the 5.75% p.a. the account pays monthly.
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Post by dan1 on Mar 15, 2019 12:15:16 GMT
*shock*
1% cashback promotion extended until midnight 5th April
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Post by failedtheturingtest on Mar 15, 2019 13:56:29 GMT
What I'd really like is an extension into April so I can use some of next year's ISA allowance for this!
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sl75
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Post by sl75 on Mar 15, 2019 15:53:43 GMT
What I'd really like is an extension into April so I can use some of next year's ISA allowance for this! They'll probably have a different ISA-targeted promotion by then...
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Post by hammertime on Mar 15, 2019 16:31:55 GMT
I agree but we could just do with higher interest on the main accounts. Not just a bit here and a bit there every few months.
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liso
Member of DD Central
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Post by liso on Apr 2, 2019 9:21:11 GMT
Have PM'd you a link if you still need one
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Post by letsgetricher on Apr 2, 2019 13:44:48 GMT
thanks
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withnell
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Post by withnell on Apr 15, 2019 10:55:39 GMT
I've withdrawn some money from my QAA/30DAY and the balance eligible showing for the 90DAY offer has dropped. Anyone else seeing this?
The T&Cs are quite clear that the Eligible Balance is reduced by any Withdrawal Instruction, but this is specifically defined as "giving 90 days’ notice to withdraw your funds by using the ‘withdraw’ function in the 90-Day Access Account in your dashboard."
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liso
Member of DD Central
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Post by liso on Apr 15, 2019 11:19:48 GMT
I withdrew 5K from my 30DAA and my 90DAA eligible balance reduced.
When I queried it with AC I was told that any withdrawals which reduce my overall platform total below what it was when I invested in the 90DAA, in other words my starting balance, my eligible balance would reduce by the same amount.
From AC's point of view it makes sense I suppose, as it keeps money on the platform - lenders will be less likely to withdraw funds if it means losing the cashback.
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warn
Member of DD Central
Curmudgeon
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Post by warn on Apr 15, 2019 13:20:33 GMT
OK, here's my question, and it relates to the (to me) slightly ambiguous "withdrawal notice" part of the T&Cs. Assume my total eligible balance today is £1000, and I have £1000 in my 90DAA account. I'm looking forward to a tenner last week in May. If tomorrow I pay in a further £600 to my 90DAA, I understand that my eligible balance will not increase. Fair enough -- snapshots have been taken. But if the day after tomorrow, I then enter a withdraw notice from my 90DAA for that £600, will it fall? Does that withdrawal notice affect my eligible balance or not? Reason says it shouldn't, of course, but it depends on the code... so, chris ? |
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