number5
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Post by number5 on May 17, 2019 10:23:28 GMT
I've made my first withdrawal of investment with live loans this morning. It took about 5 seconds to sell my loan parts and money arrived to my bank immediately as one would expect from a normal bank transfer. I have just made my first withdrawal as well, it was a combination of queued funds and lent out funds. All sold in a few minutes, but how long does the money take to enter my bank account. Do I need to do anything further? I have not had a notification email either Wow already in my bank account... Although each investment comes in as a separate transaction as opposed to one total balance
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michaelc
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Post by michaelc on May 29, 2019 18:19:16 GMT
I've just made another withdrawel for one of my investments that was only 20% invested (i.e. about 80% in the queue). I ticked to re-invest but the full amount now shows on the main screen as "Pending Withdrawal". How can 80% of the amount that was in the queue not be returned to be immediately?
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Post by df on May 29, 2019 20:12:04 GMT
I've just made another withdrawel for one of my investments that was only 20% invested (i.e. about 80% in the queue). I ticked to re-invest but the full amount now shows on the main screen as "Pending Withdrawal". How can 80% of the amount that was in the queue not be returned to be immediately? I don't think you can get part of your investment back, it has to be the whole investment. Presumably you'll have to wait until your 20% is reallocated to other lenders. In current starvation this shouldn't take long. When I withdrew mine not long ago it was a matter of seconds to sell.
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nyneil
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Post by nyneil on May 29, 2019 21:29:51 GMT
I've just made another withdrawel for one of my investments that was only 20% invested (i.e. about 80% in the queue). I ticked to re-invest but the full amount now shows on the main screen as "Pending Withdrawal". How can 80% of the amount that was in the queue not be returned to be immediately? I don't think you can get part of your investment back, it has to be the whole investment. Presumably you'll have to wait until your 20% is reallocated to other lenders. In current starvation this shouldn't take long. When I withdrew mine not long ago it was a matter of seconds to sell. If payment by the borrower is overdue, I believe you will need to wait for the Provision Fund to buy the loan part off you.
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michaelc
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Post by michaelc on May 29, 2019 21:34:44 GMT
Thanks a lot guys - that makes sense I think. LAst time I did this I got the cash within seconds but this time not. Maybe as myneil says its because one or more of the loans are overdue. I'll have a look to see if I can check this.....
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liso
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Post by liso on May 29, 2019 22:17:55 GMT
From Welendus:
" A loan can only be sold if all payments are good and on time. If a loan has a missed payment please note we are not able to sell these loans to other investors."
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michaelc
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Post by michaelc on May 29, 2019 22:49:05 GMT
So for example, you could have a £10,000 investment with only £20 of that invested. If that £20 was invested in a loan that was late, then you'd need to wait up to a month before you could withdraw the remaining £9980 ?
That is obviously more extreme than my situation but if true, interesting nonetheless. Hidden fees comes to mind.
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nyneil
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Post by nyneil on May 30, 2019 9:59:24 GMT
nsiam I've just had a look at the latest withdrawal, which I expected to complete at the end of this month, or next month at the latest, when the PF buys loan parts which are 35 days late, but it's quoting the end of July as the withdrawal date. Why a two month wait?Sorry the attachment appears so small, i couldn't see how to edit it to increase the size. It says: Request Made 05/28/19 Estimated Withdraw 07/30/2019
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benaj
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Post by benaj on May 30, 2019 10:05:10 GMT
nsiam I've just had a look at the latest withdrawal, which I expected to complete at the end of this month, or next month at the latest, when the PF buys loan parts which are 35 days late, but it's quoting the end of July as the withdrawal date. Why a two month wait?Sorry the attachment appears so small, i couldn't see how to edit it to increase the size. It says: Request Made 05/28/19 Estimated Withdraw 07/30/2019 p2pindependentforum.com/post/326199/threadYou might get your money back earlier than the estimated withdrawal date.
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Post by sayyestocress on May 30, 2019 13:07:26 GMT
From my own experience if you had not set to re-invest then the available money would be in your account in the next few working days, the stuck loan(s) would subsequently be sent when paid back / purchased by provision fund. Can't remember what happens with unsold loans when you set it to re-invest but I doubt it's as bad as being made out.
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Post by df on May 30, 2019 14:19:38 GMT
So for example, you could have a £10,000 investment with only £20 of that invested. If that £20 was invested in a loan that was late, then you'd need to wait up to a month before you could withdraw the remaining £9980 ? That is obviously more extreme than my situation but if true, interesting nonetheless. Hidden fees comes to mind. This is why I've decided, from the outset, no mater how much I'll be investing in future, my single investment won't exceed the minimum allowance. I had in mind avoiding scenarios like you've described. Also gives much more flexibility in case I want to liquidate only a small portion of my WLU funds.
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michaelc
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Post by michaelc on Jun 28, 2019 22:25:07 GMT
I've attached a snapshot of my "Investment Portfolio". Some of the "investments" are showing LentOut as zero and yet it still won't close it down and release the funds. Attachments:
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number5
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Post by number5 on Jul 2, 2019 13:35:56 GMT
Does anyone know how to download your deposits and withdrawals into excel....I am keen to work out my XIRR following the standstill of new investments?
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