centurion
New Member
£1m invested P2P.
Posts: 1
Likes: 3
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Post by centurion on Feb 27, 2019 20:14:38 GMT
Given that AC cannot empty my 30-day account in .... 30 days (now 60 days+). I would not be that interested in investing in 90 days. What should I expect, half a year? I think AC needs to calm it all down a bit and be tighter on borrower account control rather than stretch out to get more loans and drag more lenders into this disappointing morass.
Just days ago I withdrew £204,000 from the 30 day account (my whole 30 day balance) and as normal it all came back exactly on time.
I have run many tests with tens and tens of thousands with zero problems.
I have repeatedly moved large blocks of money around (£20k, £50k, £100k+ etc) both on the AC platform and in and out of the AC platform and in again and had no problems of any kind, ever.
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alexs
Posts: 37
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Post by alexs on Feb 27, 2019 20:22:56 GMT
@bobo This is absolutely wrong surely - you cannot have submitted a request for money to be withdrawn from the 30DAA and it didn't pop out exactly when planned - to my knowledge and upon regular enquiry that has never happened to date. You must contact the helpdesk as there is something seriously wrong with your account here and we can't leave such a comment hanging on this thread without an investigation - no-one has ever reported this before ever in £1bn+ of withdrawals - just PM me the account details and will get it checked.... bobo's last comment on Feb 24 at 4:03pm said that he had dropped AC a note. Were you able to track down what happened? These comments hanging around are causing people not to invest in AC, when they seem completely unfounded and not backed up by anyone else so it would be good to close this off. Time for the moderators to step in.
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alexs
Posts: 37
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Post by alexs on Feb 27, 2019 20:27:19 GMT
I havn't asked I only put a small amount of money in to test the system and roughly 3% didn't make it back. But if the interest rate is 6% then 3% means a lot. Not pushing for it on the phone as the phone call would consume all the benefits. @bobo which account are you referring to with 6% interest rate? The 30DAA currently pays 5.10%. I have not experienced any delays with any of the Assetz' Access Accounts and as others on this forum find that your post is misleading unless backed up with any evidence.
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alexs
Posts: 37
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Post by alexs on Feb 27, 2019 20:39:59 GMT
Current stats:
90DAA has £9.008M (compared to 0 at launch of 90DAA)
30DAA has £99.315M (compared to ca £105.360M at launch of 90DAA)
QAA has £57.587M (compared to £57.296M at launch of 90DAA)
Total: £165.91M (compared to £163.156M at launch of 90DAA) which is also an all time high for total money accross all Assetz' Access Accounts
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Post by df on Feb 27, 2019 21:05:22 GMT
That's not likely to improve diversification, at least in my experience. At some point I've tried to drip feed into all auto accounts, never made any difference. With this new 90day - I've put a small amount in and took a note of 10 top chunks, day later doubled the amount and all respective loans doubled accordingly. Works out as 3.6% maximum exposure. However, it doesn't really matter because access accounts don't operate in the same way as GEA and GBAA. Thanks, I thought that might be the case, as I have found previously new funds are often invested into loans that I already have a high % of funds in. The 2 largest investments in both 30 and 90DAAs are for the same loans. I realise these accounts do not work in the same way as the GBBA and GEA but am not totally confident that I will always be able to access the funds within the stated timeframes and that suspended loans may end up as personal defaults even on the access accounts, therefore want to do as much as I can to diversify. These are normally the largest AC loans. Across all AC auto-accounts my highest exposure is to largest loans. I understand why it is happening - algorithm allocates larger proportion to where funds needed most. It's fine with me when it is access account because PF is functional and diversification is much greater due to larger amount of qualified loans. But absolutely not on for GBAA/GEA with extremely high exposure and very questionable future PF payouts. There's no formal guarantee, but so far access accounts have delivered what's promised.
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sl75
Posts: 2,092 
Likes: 1,245
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Post by sl75 on Feb 28, 2019 9:28:20 GMT
I realise these accounts do not work in the same way as the GBBA and GEA but am not totally confident that I will always be able to access the funds within the stated timeframes and that suspended loans may end up as personal defaults even on the access accounts, therefore want to do as much as I can to diversify. You shouldn't be totally confident. Read and understand the section explaining "normal market conditions" at www.assetzcapital.co.uk/invest/our-accounts/90-day-access-account/how-it-works - then read it again, bearing in mind that the author of that section will be biased towards underplaying the risks. E.g. " a number of other situations" includes, for example, a loss of faith in AC specifically (they only highlight " widespread loss of faith in peer-to-peer lending").
If it ever happens, it is likely that "normal market conditions" would end for everyone at the same time, and that this would be a disaster for AC unless very nimbly managed. Exactly how AC would manage the situation is yet to be defined, but it would certainly involve at least some investors being unable to access funds within the stated timeframes.
If you need total confidence that you'll be able to access funds within stated timeframes, you need a FSCS-protected bank account, not a P2P investment account. The known risks of sudden and unexpected loss of liquidity is one reason for the higher rate compared to FSCS-protected savings accounts from banks.
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ceejay
Posts: 975
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Post by ceejay on Feb 28, 2019 10:12:58 GMT
I havn't asked I only put a small amount of money in to test the system and roughly 3% didn't make it back. But if the interest rate is 6% then 3% means a lot. Not pushing for it on the phone as the phone call would consume all the benefits. @bobo which account are you referring to with 6% interest rate? The 30DAA currently pays 5.10%. I have not experienced any delays with any of the Assetz' Access Accounts and as others on this forum find that your post is misleading unless backed up with any evidence. I'd be prepared to bet a few pennies that @bobo has made a booboo - what he described is the sort of thing you might expect from GBBA(2) - and he's got his wires crossed. With all the ensuing hullabaloo, he's probably now keeping his head down and hoping that we all go away...
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jlend
Member of DD Central
Posts: 1,840
Likes: 1,465
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Post by jlend on Feb 28, 2019 10:48:50 GMT
Are there separate PFs for the QAA and 30DAA or it is one pool of money?
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cb25
Posts: 3,528
Likes: 2,668
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Post by cb25 on Feb 28, 2019 12:13:02 GMT
May not always get the 1% bonus on new money.
Recently as money came out of the 30DAA I placed it into the 90DAA. -5 transactions totalling £14K invested in 90DAA. Each time added a matching withdrawal request -didn't expect any of that existing money to be eligible for the 1% bonus
Yesterday, added £1K new money to my AC a/c, put it into the 90DAA (6th transaction), no withdrawal request -should now have £1K eligible for the 1% bonus
Today another £1K came free from the 30DAA, put it into the 90DAA (7th transaction), with a £1K withdrawal request (6th one)
But my eligible 90DAA funds is showing as £0. Guess it's because the 6th withdrawal request was 'matched' against the addition of £1K new money yesterday, rather than against the £1K existing money that came free from the 30DAA today.
Have emailed AC to check.
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Post by stuartassetzcapital on Feb 28, 2019 13:49:48 GMT
Are there separate PFs for the QAA and 30DAA or it is one pool of money? They are separate.
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sl75
Posts: 2,092
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Post by sl75 on Feb 28, 2019 16:07:52 GMT
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... I've been continuing to monitor (but not posting every update!), net inflow of funds has indeed been continuing.
As of a few minutes ago, the total of the 3 accounts was about £166.08M, with £9.85M in the 90DAA, representing an increase of nearly £1M per day of net new money for the last 3 days - not too shabby at all!
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cb25
Posts: 3,528
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Post by cb25 on Feb 28, 2019 16:44:52 GMT
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Post by hammertime on Feb 28, 2019 17:12:03 GMT
Guys get a life or dont invest  |
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jlend
Member of DD Central
Posts: 1,840
Likes: 1,465
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Post by jlend on Feb 28, 2019 18:01:10 GMT
Are there separate PFs for the QAA and 30DAA or it is one pool of money? They are separate. Thanks stuartassetzcapitalDoes the 30DAA PF grow at a slower rate than the QAA then given the difference in the interest rate? If so is the risk on the 30DAA higher than the QAA?
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rscal
Posts: 985
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Post by rscal on Mar 1, 2019 11:36:55 GMT
I made an opening deposit to the 90DAA yesterday and was paid some interest at midnight (being the last day of the month). Now it appears this is a fraction of a day's interest - certainly not a whole day's interest. I'm not unhappy in the least. This seems to verify that interest does accrue on shorter time intervals than 24 hours - as one would expect from any company which goes to 20 places of decimals! When withdrawing funds I assume the moment/time of day of the withdrawal/transfer will equally result in a part-day's of trailing interest also?
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