sd2
Member of DD Central
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Post by sd2 on Apr 20, 2019 20:29:34 GMT
, its the total elligible funds balance that relates to the qualifying funds in each individual account ie funds over & above star
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Post by df on Apr 20, 2019 22:22:16 GMT
I think it's a very good offer. Apart from standard p2p risk I can't see any downsides. I took advantage of this offer to open my first IFISA.
Being naturally cautious I am in the instant access fund. My concerns are that money in the 30 / 90 day accounts earns a bit more, but if the sticky brown stuff was to hit the fan the QAA withdrawls would be such a drain there would be no liquid assets left for the rest.
It's good to be cautious, but it is very unlikely that suddenly everyone decides to withdraw from access accounts. These types of accounts are more popular among retail investors. Many people don't have time and/or expertise to enter manual lending world. As I see it, the main risk is the collapse of platform and it doesn't look that AC is any close to such situation. I use QAA only for "swept" money (i.e. keep some float in MLA for new loans) because I don't really need instant withdrawal, I wouldn't risk putting any money that I rely on into p2p. I actively use 30-day making daily withdrawals/investments - if MLA waiting money is getting thin I put withdrawals there, if it has too much I put money back into 30-day. When 90-day was launched I transferred about half of my 30-day funds there.
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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 20, 2019 23:19:34 GMT
You know that you cant send money direct to your IFISA it all goes through your standard account (except ISA transfers)? The starting balance is the total balance on the platform in both ISA & standard accounts, its the total elligible funds balance that relates to the qualifying funds in each individual account ie funds over & above starting balance.
I sent £4200 direct the isa account following instruction on the site. Its now arrived but there is mo mention of bonuses. Ok, looks like the FAQs are out of date. Any bonus will show the following day after it polls at midnight (ie should show now)
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on May 9, 2019 18:13:06 GMT
One problem with ISA's is the transfer times. They're a lot better than they were a few years ago, but 2 weeks to make a faster payment is not good. I'm posting this, because I made a transfer into AC last week and it's still not cleared. I've investigated my transfer and found that AC received my faster payment on May 2nd (cleared funds), but they haven't credited my account yet. I have chased it 4 times via the helpdesk, and found that the money is only part of the deal, it also requires a THF (Transfer History Form). For some reason it seems the sending company decided to post the THF rather than send an email, that was a mistake, but it doesn't seem to matter, because the AC ISA department have had an electronic copy for 2 working days and still haven't completed the transfer, and they don't have to, because they are allowed 2 weeks.
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