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Post by chielamangus on Nov 5, 2014 11:55:48 GMT
Have just seen lots of loan parts being sold and reducing my target investment. Then the money is transferred to my cash account. What on earth is going on? yesterday, I praised the system. Now it is behaving like a madman and I have lost all control over it. Even a transfer from the cash account to MIA was not effected. Everything started at 11.42 today. chris - would you please wind the system back and reinstate all my lost loan parts. |
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Post by chielamangus on Nov 5, 2014 12:01:42 GMT
I have lost West London, Wrexham, Redditch, Optical Lens, Liverpool Elec, Leeds and Green Deal !! Can I have them back PLEASE, Chris |
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Post by bracknellboy on Nov 5, 2014 12:09:08 GMT
I've picked up a tiddly bit on an amortising loan because of the inherited target. I would go thorugh and switch these off, but given your experience here I'm loath to touch anything right now.
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Post by mogzi on Nov 5, 2014 12:09:10 GMT
You need to use the @ sign to tag him so he gets a notification. chris |
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Post by chris on Nov 5, 2014 12:13:37 GMT
Have just seen lots of loan parts being sold and reducing my target investment. Then the money is transferred to my cash account. What on earth is going on? yesterday, I praised the system. Now it is behaving like a madman and I have lost all control over it. Even a transfer from the cash account to MIA was not effected. Everything started at 11.42 today. chrischris - would you please wind the system back and reinstate all my lost loan parts. If it's going back to your cash account then you've tried to withdraw funds from you manual loan investment account that weren't covered (entirely) by cash and therefore set a withdraw target. The system then tries to sell loan units to meet your withdraw request.
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Post by batchoy on Nov 5, 2014 12:17:08 GMT
Touch wood I am unaffected, all my targets are disabled, my MLIA is set to withdraw and I am withdrawing cash from my CA as soon as it as arrives. If any transactions do occur (other than repayments and interest payments) then it will be down to a bug in the platform.
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niceguy37
Member of DD Central
Posts: 504 
Likes: 254
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Post by niceguy37 on Nov 5, 2014 12:19:38 GMT
Have just seen lots of loan parts being sold and reducing my target investment. Then the money is transferred to my cash account. What on earth is going on? yesterday, I praised the system. Now it is behaving like a madman and I have lost all control over it. Even a transfer from the cash account to MIA was not effected. Everything started at 11.42 today. chrischrischris - would you please wind the system back and reinstate all my lost loan parts. If it's going back to your cash account then you've tried to withdraw funds from you manual loan investment account that weren't covered (entirely) by cash and therefore set a withdraw target. The system then tries to sell loan units to meet your withdraw request. I think this feature really needs a warning dialog box explaining that there are insufficient funds and that loan parts will be sold to raise the balance, with the lender confirming, before it proceeds to liquidate holdings.
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Post by chielamangus on Nov 5, 2014 12:20:52 GMT
This all started 8 minutes after my cash account was credited. I tried to transfer some of this to the MIA - it did not go, but it triggered a sell off of my loans. Now my cash account is overflowing but I dare not even try to move it to the MIA in case it starts another haemorrhage. I have contacted AC direct and IT are investigating. I'll post the outcome ....
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Post by chris on Nov 5, 2014 12:21:42 GMT
I'm going to scrap that feature - it's a requirement for the automatic accounts as the funds are managed, but for manual accounts I'm going to change it so that you have to reduce your loan targets yourself and the withdraw request will just be used to channel those funds. That will make it more explicit in how it works with the manual investment account.
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Post by chris on Nov 5, 2014 12:23:02 GMT
This all started 8 minutes after my cash account was credited. I tried to transfer some of this to the MIA - it did not go, but it triggered a sell off of my loans. Now my cash account is overflowing but I dare not even try to move it to the MIA in case it starts another haemorrhage. I have contacted AC direct and IT are investigating. I'll post the outcome .... When you tried to transfer funds in to your account it sounds like you've unintentionally hit the reduce investment option rather than increase investment.
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Post by chielamangus on Nov 5, 2014 12:25:13 GMT
Have just seen lots of loan parts being sold and reducing my target investment. Then the money is transferred to my cash account. What on earth is going on? yesterday, I praised the system. Now it is behaving like a madman and I have lost all control over it. Even a transfer from the cash account to MIA was not effected. Everything started at 11.42 today. chrischrischris - would you please wind the system back and reinstate all my lost loan parts. If it's going back to your cash account then you've tried to withdraw funds from you manual loan investment account that weren't covered (entirely) by cash and therefore set a withdraw target. The system then tries to sell loan units to meet your withdraw request. I tried to do the opposite - add funds to the MIA. Have just tried - very gingerly - to transfer a small amount to the MIA again to see what happens. I certainly never intended to withdraw money and am not convinced that I asked it to do it.
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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.
Posts: 1,428
Likes: 1,212
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Post by sqh on Nov 5, 2014 12:27:09 GMT
Have just seen lots of loan parts being sold and reducing my target investment. Then the money is transferred to my cash account. What on earth is going on? yesterday, I praised the system. Now it is behaving like a madman and I have lost all control over it. Even a transfer from the cash account to MIA was not effected. Everything started at 11.42 today. chrischrischris - would you please wind the system back and reinstate all my lost loan parts. If it's going back to your cash account then you've tried to withdraw funds from you manual loan investment account that weren't covered (entirely) by cash and therefore set a withdraw target. The system then tries to sell loan units to meet your withdraw request. That's a ridiculous feature. Do you get a warning ? I am seriously worried that the system has become too complex. I also see that you will be introducing an automatic investment feature with a 2% default holding. I have some loans with over 2% holding, I do not want the system defaulting them to 2%. If I want to sell them I will do so manually.
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Post by chielamangus on Nov 5, 2014 12:34:47 GMT
The system should not work the way you describe. Loan parts were sold which I never authorised and reduced my investments below the targets. If, and a big IF, I somehow asked to reduce my MIA account, this should have been refused as there was no cash there to transfer to the cash account. So the system just selected some of my loan parts and sold them without any permissions. Cash should only be transferred between accounts if it exists. I would like those transactions reversed.
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oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
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Post by oldgrumpy on Nov 5, 2014 12:39:44 GMT
"I am seriously worried that the system has become too complex. I also see that you will be introducing an automatic investment feature with a 2% default holding. I have some loans with over 2% holding, I do not want the system defaulting them to 2%. If I want to sell them I will do so manually."
Me too. If AC does this and messes up by my >2% investments are sold without EXPLICIT instruction from me, I shall be withdrawing from AC.
At the moment nothing untoward is happening on my account, but I am sick of having to relog in every blo*dy time someone posts that faults are appearing, just to check my account is untouched because AC haven't got time to very simply alter the timeout to something greater than 20 minutes, as they have been asked to for a fortnight. This all takes me more time than FC used to, mainly just checking up on AC because of their overcomplex and inadequately explained (in detail) system. 
edit: Yes, I HAVE been logged out again while writing this and reading other posts!!
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oldgrumpy
Member of DD Central
Posts: 5,087
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Post by oldgrumpy on Nov 5, 2014 12:44:17 GMT
I'm going to scrap that feature - it's a requirement for the automatic accounts as the funds are managed, but for manual accounts I'm going to change it so that you have to reduce your loan targets yourself and the withdraw request will just be used to channel those funds. That will make it more explicit in how it works with the manual investment account. So why was it even activated for manual accounts? Not thought through. No flagged up warning that that was about to happen? It seems to me that we should be scared stiff of making mistakes now on this platform. And you still haven't explained last week why, when I raised a target by £20.99, the system promptly raised it by £41.99 then later purchased units to fulfil it!! I did not make a mistake.
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