oldgrumpy
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Post by oldgrumpy on Oct 16, 2014 9:08:37 GMT
I referred to an anomaly in another thread, which I would explain after I had benefited from it. OK, I did, quite quickly (not financially!!) but another anomaly has occurred today in the opposite direction, which I will question RS about if "our Kev" can't explain. Earlier in the week I had to change my 5 year order from 6.2% to 5.9% when that large "wall of money" suddenly appeared. There was already nearly £500K in at 5.9% and I expected to go to the back of that queue .... but no! I was slotted in near the front at £57K, and lent out my cash an hour or so later. Cool!! However, this appears now to be a fault in RS's allocation of new orders, which although given order numbers are NOT being placed in that order in the pool for each rate. (edit of 13:36 BST)Today the opposite has happened. I have money left over from yesterday's (repayments reinvestment) order in the 5.9% queue near the back at £452K whereas today's order is in front of yesterday's at £186K. How come? And now, twenty minutes later the positions are: Yesterday's order £357K almost right at the back of the 5.9% queue, today's order at £186K in the queue. The first has moved forward 95K in the queue but the second has moved forward by £122K...surely they should both have moved forward by the same amount. It appears that some 5.9% funds which were behind me have been lent out first Jiggery pokery westonkevRS ? Or new site queuing procedures don't like the purple? Or RS is prioritising certain funds above others, Zopalike, and have "forgotten" to inform the lenders?
Swings and roundabouts for me in the last couple of days.
10:18 Now my order from yesterday has been pushed back to £367K in the queue but there's only £29 listed at 5.8% so why have I gone back £10K in a few minutes on yestrday's order but not done so on today's order?
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oldgrumpy
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Post by oldgrumpy on Oct 16, 2014 9:59:58 GMT
I can understand that some people will be removing orders from the 5.9% pot. As explained above, I currently have two small orders in 5.9%. One dated 15 Oct at the back of the queue!!!! One dated 16 Oct mid-way in the queue. The reversal of queue positions has yet to be explained. Also, this occurs to me as I munch away. How can ANY orders get placed in between my two existing orders, whether or not they have been reversed. In the last hour the gap between those two orders has increased from £144K, to £171K and now to £184K!!! westonkevRS How can that be? In what way is RS "managing" the queues? Now another £50K has come into 5.9% and my 15 Oct order is STILL at the back of the queue, the gap between the two orders has increased to £234K (£245K 11:31, £253 12:23, £268K 12:23, £276K 13:14, £286K 13:20, £296K 13:34, £322K 15:19). I await RS's phone call!! CHECK YOUR E-MAILS, RS(11:19 BST) It appears that all new money today in 5 year is going in front of yesterday's leftovers. (No money has gone in behind my wrongly placed 15 Oct order all morning as far as I can see, still back of the queue at 12:25 - and 13:34)
Time to match up the order numbers to the place in the queues RS. Your system has broken and has been since at least October 14.
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pikestaff
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Post by pikestaff on Oct 16, 2014 13:56:49 GMT
I agree with your diagnosis.
Overnight market rate orders went in at 5.9%. Mine was one of them and it currently has just £46.3k in front of it. I'm hoping they don't fix the problem until it's been lent out!
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oldgrumpy
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Post by oldgrumpy on Oct 16, 2014 14:10:31 GMT
Just checked mine again. Last night's is at £53K. The previous night's is now at £350K so there is a £300K gap between my two, and I am still almost at the back of the queue. No reply from RS yet. I don't intend to phone them at 14p connection charge + 9p a minute (Tight as well as Grumpy). edit: £322K gap 15:18 BST - all incoming money still being prioritized in front of yesterday's. pikestaff 16:02 BST Yours is about to get lent out - my "today order" very soon*. What a pity Ratesetter hasn't lent out yesterday's 5.9% money yet!! Still at the back of the queue and at least £180,000 has been placed at 5.9% in front of yesterday's orders since this morning when I first reported it. Update 16:59 BST. My order for today has been lent out. my order from yesterday is STILL almost at the back of the 5.9% queue of £329K. RS has a lot of investors to write to to explain the answers to some rather blunter questions I have sent them in a second email. Just got automated reply to the first email which I sent hours ago. They hope to reply within two days. Ha ha! * gone My 999th post!!! I'll stop here and let Ton ⓉⓞⓃ get there first, as most of hers are more useful/less frivolous than mine.
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Post by westonkevRS on Oct 16, 2014 17:39:38 GMT
I'll let the Customer Services team answer your question about the queue position, they'll know better especially as they can see your settings and flow of moneg. Although my understanding is that new money can "jump the queue" if it is joining some old money further up the queue. However I will correct grumpy on the telephone charges. RateSetter's is a simple 020 number, we are proud to differentiate ourselves from firms that make money on 08 numbers. So for most people on mobile contracts or BT landline deals, it's free to call us.
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pikestaff
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Post by pikestaff on Oct 16, 2014 18:00:18 GMT
As far as I can tell, all the overnight 5.9% money jumped the queue, and there's no reason why mine should have done so. Never happened before.
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mike
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Post by mike on Oct 16, 2014 20:48:07 GMT
I'll let the Customer Services team answer your question about the queue position, they'll know better especially as they can see your settings and flow of moneg. Although my understanding is that new money can "jump the queue" if it is joining some old money further up the queue. However I will correct grumpy on the telephone charges. RateSetter's is a simple 020 number, we are proud to differentiate ourselves from firms that make money on 08 numbers. So for most people on mobile contracts or BT landline deals, it's free to call us. westonkev I have money in the queue too. I have no idea weather it's in the right or wrong place and I don't have the time to go tracking it. My understanding is that RS operated a simple FIFO queuing system. Is this correct and if that's not the case can you point me in the direction of a clear explanation.
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oldgrumpy
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Post by oldgrumpy on Oct 16, 2014 21:37:12 GMT
I said: "My 999th post!!! I'll stop here and let Ton get there first, as most of hers are more useful/less frivolous than mine"
Can't wait any longer
Now, westonkevRS
Let me put you right about phone charges. BT/Virgin etc have various tariffs for various charges. "Free" calls can be "weekends" or "evenings and weekends" or "all the time depending on the tariff you are on. Outside those restrictions, "pay as you go" charges apply. Mine (apart from weekends, as I make very few calls) are 17.5p connection charge + 10.6p a minute to normal landline numbers (like that of RS). I hadn't realised they'd gone up so much!! I think I'd better look at my options.
We await action from your Customer Services in less than 48 hours. Unless you have alerted them, I wouldn't be surprised to find my 15 October order (which is STILL almost at the back of the 5.9% queue at £194K but should have been lent out by now) has been pushed to the back of tomorrow mornings repayment orders! As I said, this has been going on since Tuesday to my knowledge.
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baz657
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Post by baz657 on Oct 16, 2014 22:57:21 GMT
Something's not right with the three year queue as well. I'm now wondering if all this apparent queue jumping is another of the reasons for the current lower rates due to frustrated investors moving their money to a lower rate after seeing they've been overtaken at their chosen rate. The three year rate is currently almost a half percent lower than it was just 4 days ago!
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oldgrumpy
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Post by oldgrumpy on Oct 17, 2014 9:36:23 GMT
Twelve hours ago I said: "I wouldn't be surprised to find my 15 October order (which is STILL almost at the back of the 5.9% queue at £194K but should have been lent out by now) has been pushed to the back of tomorrow mornings repayment orders! As I said, this has been going on since Tuesday to my knowledge."
Guess what!!My Wednesday morning order is STILL at the back of the 5.9% queue (at £363K); all today's repayment orders have been put in front of it (including mine)! I have had an email reply saying they are looking into it and sent them a screen shot of my own "unmatched money" page. (edit: ...to which I have had the automated reply saying they'll try to deal with in in<48 hours) 10:51 BST In tha last ten minutes another £16K has gone in 5.9% .... IN FRONT OF all orders from 15 Oct.
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Investor
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Post by Investor on Oct 17, 2014 9:49:46 GMT
Twelve hours ago I said: "I wouldn't be surprised to find my 15 October order (which is STILL almost at the back of the 5.9% queue at £194K but should have been lent out by now) has been pushed to the back of tomorrow mornings repayment orders! As I said, this has been going on since Tuesday to my knowledge."
Guess what!!My Wednesday morning order is STILL at the back of the 5.9% queue (at £363K); all today's repayment orders have been put in front of it (including mine)! I have had an email reply saying they are looking into it and sent them a screen shot of my own "unmatched money" page. I thought FILO was a type of pastry until I discovered Ratesetter
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oldgrumpy
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Post by oldgrumpy on Oct 17, 2014 10:17:53 GMT
Stand? Bah! Never mind the title of this thread!!!!! My money has fallen over and gone to sleep in the queue. GIVE IT A POKE, KEV!
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Post by p2plender on Oct 17, 2014 10:57:16 GMT
17 hours ago westonkev said:
oldgrumpy Avatar
20 hours ago oldgrumpy said:
I'll let the Customer Services team answer your question about the queue position, they'll know better especially as they can see your settings and flow of moneg. Although my understanding is that new money can "jump the queue" if it is joining some old money further up the queue.
However I will correct grumpy on the telephone charges. RateSetter's is a simple 020 number, we are proud to differentiate ourselves from firms that make money on 08 numbers. So for most people on mobile contracts or BT landline deals, it's free to call us.
westonkev I have money in the queue too. I have no idea weather it's in the right or wrong place and I don't have the time to go tracking it. My understanding is that RS operated a simple FIFO queuing system. Is this correct and if that's not the case can you point me in the direction of a clear explanation.
I've lost track of who said what but I think we should just weather this current 'queue' storm.....
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wapping35
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Post by wapping35 on Oct 17, 2014 14:44:30 GMT
There is definitely a problem with the RS queuing system.
I called them this morning and they told me they are looking at it.
I have money in the 5 year market at 5.9% and it seems to be super glued to the back of that queue. Well actually it is £1,100 in from the back of that queue and has been in that position (exactly that position) since Wednesday morning.
I have had money matched in 5.9% which was added latter. i.e. Oct 16th was matched on Oct 16th and today I have had some of my Oct 17th repayments matched. I have a second batch of Oct 17th repayments which is now near the front of the queue, whilst that Wednesday morning money is £142k behind it. It was "only £66k behind it at 7.30 am this morning.
Anyway RS said they would call me back when they have resolved the issue and that was at 9am.
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oldgrumpy
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Post by oldgrumpy on Oct 17, 2014 14:50:44 GMT
"I think we should just weather this current 'queue' storm....."
I'll weather it when Ratesetter do something about it. It has been wrong most of the week. They have been told yesterday. Replied this morning. At this moment they have matched all the 5.9% orders for 16 October and most of the orders for 17 October (today) including mine, but a large tranche of orders from the morning of 15 October is STILL at the end of the queue with all today's and yesterday's repayments and manual orders being placed in front of it. Those orders may well not be matched until after the weekend now.
All they have to do is nudge the programme which puts the orders in numerical sequence for disbursement. That shouldn't take all day. I wonder, has it actually been malfunctioning since the new website was launched?
First screen shot 13:56 BST today. I have added second screen shot taken at 16:44 BST. My order for today has been matched. Whoopee. My order for 15 October is still at the back , and around another £100k has been placed into the 5.9% pool IN FRONT OF ME (and all the others left over from Wednesday).
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