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Post by figtree on Mar 1, 2019 23:05:02 GMT
But it shouldn’t be necessary. Put the right reference on the transaction and it should be automatic, in a matter of minutes, without any manual intervention. Or take a debit card transaction like abl.
I’ve not ruled them out (like I say, the loans look pretty juicy) but want to do some more homework first.
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Post by proplend on Mar 5, 2019 10:56:50 GMT
Exactly right hantsowl . It can help speed the crediting process up and identify situations where the incorrect account number has been provided. The prior notice is more of a optional safety measure than a requirement. There have been occassions where it has helped identify a mislabelling of funds by the Lender that would have seen funds applied to an ISA rather than a Classic account for example. We have to be particularly careful with ISAs where there could be tax implications from inadvertently over-subscribing. We can also use the advance notice to identify any problems where expected deposits have not been received. Glad you're considering us figtree Richard |
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