warn
Member of DD Central
Curmudgeon
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Post by warn on Apr 16, 2019 7:50:26 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 ? It's coded on end of day totals only, not individual movements of funds. I don't think that answers my question, though it might just be me being dense. If there is an outstanding 90D withdraw instruction on 23 May, it is taken to reduce a 90D balance. For the purposes of calculating the cashback, does it reduce the end-of-day 23 May balance, or does it reduce the end-of-day 5 Apr balance? In other words, if on 23 May the 90D balance is greater than the "eligible" balance, does a withdrawal instruction for less than that surplus reduce the eligible balance?
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sl75
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Post by sl75 on Apr 16, 2019 8:35:26 GMT
I don't think that answers my question, though it might just be me being dense. If there is an outstanding 90D withdraw instruction on 23 May, it is taken to reduce a 90D balance. For the purposes of calculating the cashback, does it reduce the end-of-day 23 May balance, or does it reduce the end-of-day 5 Apr balance? In other words, if on 23 May the 90D balance is greater than the "eligible" balance, does a withdrawal instruction for less than that surplus reduce the eligible balance? It doesn't look at withdrawal instructions, only end of day balances. If the funds are still invested and not yet withdrawn, even if there's a withdrawal instruction, then they count towards the total invested. The T&Cs explicitly state "If any ‘Withdrawal Instructions’ have been made before 11:59:59pm on 23rd May 2019 the ‘Eligible Balance’ will be reduced by the total value of the ‘Withdrawal Instructions’.".
i.e. only the amount that is not "awaiting withdrawal" counts for the purpose of the promotion on the close date.
Are you saying this part has now been struck from the T&Cs? Did someone forget to tell you to implement that bit?
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Post by chris on Apr 16, 2019 9:05:20 GMT
It doesn't look at withdrawal instructions, only end of day balances. If the funds are still invested and not yet withdrawn, even if there's a withdrawal instruction, then they count towards the total invested. The T&Cs explicitly state "If any ‘Withdrawal Instructions’ have been made before 11:59:59pm on 23rd May 2019 the ‘Eligible Balance’ will be reduced by the total value of the ‘Withdrawal Instructions’.".
i.e. only the amount that is not "awaiting withdrawal" counts for the purpose of the promotion on the close date.
Are you saying this part has now been struck from the T&Cs? Did someone forget to tell you to implement that bit?
I wasn't involved in the build - sorry for my faulty memory!! In which case yes they will be taken into account. As always best to talk to customer services rather than ask me, I'm only here in a personal capacity. I'll edit my previous posts in case someone is misled.
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blender
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Post by blender on Apr 16, 2019 10:06:44 GMT
The T&Cs explicitly state "If any ‘Withdrawal Instructions’ have been made before 11:59:59pm on 23rd May 2019 the ‘Eligible Balance’ will be reduced by the total value of the ‘Withdrawal Instructions’.".
i.e. only the amount that is not "awaiting withdrawal" counts for the purpose of the promotion on the close date.
Are you saying this part has now been struck from the T&Cs? Did someone forget to tell you to implement that bit?
I wasn't involved in the build - sorry for my faulty memory!! In which case yes they will be taken into account. As always best to talk to customer services rather than ask me, I'm only here in a personal capacity. I'll edit my previous posts in case someone is misled. I don't think that is really possible, chris. But no-one is infallible (not even me).
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Post by chris on Apr 16, 2019 10:12:44 GMT
I wasn't involved in the build - sorry for my faulty memory!! In which case yes they will be taken into account. As always best to talk to customer services rather than ask me, I'm only here in a personal capacity. I'll edit my previous posts in case someone is misled. I don't think that is really possible, chris. But no-one is infallible (not even me). It needs to be the case or I'll have to stop posting at all as its not practical for me to post here in an official capacity. I want to continue to support the community as much as is practical but this requires me to post in a personal capacity and to focus on the technical aspects of our operation.
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star dust
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Post by star dust on Apr 16, 2019 10:54:46 GMT
I don't think that is really possible, chris. But no-one is infallible (not even me). It needs to be the case or I'll have to stop posting at all as its not practical for me to post here in an official capacity. I want to continue to support the community as much as is practical but this requires me to post in a personal capacity and to focus on the technical aspects of our operation. I'm sure that however frustrating and limiting for you, that you do post here is very much appreciated by everyone. It's also a benefit to AC too so I hope they and you can continue to walk the fine line.
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blender
Member of DD Central
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Post by blender on Apr 16, 2019 20:26:14 GMT
Appreciated absolutely.
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alexs
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Post by alexs on Apr 18, 2019 18:48:08 GMT
Total over all Access Accounts has crossed 180 Mio today. An increase of 17.5 Mio since the 90DAA was introduced two months ago.
36.8 Mio in the 90DAA
85.0 Mio in the 30DAA
58.8 Mio in the QAA
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number5
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Post by number5 on Apr 24, 2019 11:12:19 GMT
I added some funds to the 90 day account, if I was to request a withdrawal say today and then in 89 days I decide I do not require these funds anymore, can you cancel the withdrawal?
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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
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Post by ilmoro on Apr 24, 2019 11:21:24 GMT
I added some funds to the 90 day account, if I was to request a withdrawal say today and then in 89 days I decide I do not require these funds anymore, can you cancel the withdrawal? Yes. Just click on queued withdrawal requests & click cancel.
I believe a number of forumites do just that with rolling requests on the 30day market
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number5
Member of DD Central
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Post by number5 on Apr 24, 2019 11:37:15 GMT
I added some funds to the 90 day account, if I was to request a withdrawal say today and then in 89 days I decide I do not require these funds anymore, can you cancel the withdrawal? Yes. Just click on queued withdrawal requests & click cancel.
I believe a number of forumites do just that with rolling requests on the 30day market Thank you Yes, I was thinking of doing something similar...with the 90 day market
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theta
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Post by theta on Apr 24, 2019 19:27:43 GMT
So you can request to withdraw 1/x of your balance every 90/x days, and cancel if not needed, and you have effectively halved the locked duration of the account?
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number5
Member of DD Central
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Post by number5 on Apr 24, 2019 20:03:04 GMT
So you can request to withdraw 1/x of your balance every 90/x days, and cancel if not needed, and you have effectively halved the locked duration of the account? Is there a restriction what you can withdraw? I.e. the 'x'? I have say £1k....and have request 10 x £100, all with a withdraw date in 90 days time. I can also cancel them...
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Post by madmitch on Apr 24, 2019 20:44:03 GMT
I have say £1k....and have request 10 x £100, all with a withdraw date in 90 days time. This is asking for 100% of your funds in 100% of the time. No point. If you don't want all or any of it, come the time, you simply reinvest or cancel.
However, if your £1k was invested at the rate of £250 every 22/23 days with an immediate withdrawal request then that sets up a rolling system. Alternatively, if you wanted to invest your £1k straight away; you make an immediate request for £250, another £250 in 22/23 days,.......etc.
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number5
Member of DD Central
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Post by number5 on Apr 24, 2019 21:58:17 GMT
I have say £1k....and have request 10 x £100, all with a withdraw date in 90 days time. This is asking for 100% of your funds in 100% of the time. No point. If you don't want all or any of it, come the time, you simply reinvest or cancel.
However, if your £1k was invested at the rate of £250 every 22/23 days with an immediate withdrawal request then that sets up a rolling system. Alternatively, if you wanted to invest your £1k straight away; you make an immediate request for £250, another £250 in 22/23 days,.......etc.
What is the significance of the 22/23 days? My understanding of the rolling system was that...I can request £100 to withdraw everyday. So in 90 days time, everyday going foward I should be able to withdraw £100 if I want to, otherwise cancel it. Same process everyday. But obviously it will take 90 days to get it fully rolling Am I getting something wrong here?
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