littleoldlady
Member of DD Central
Running down all platforms due to age
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Post by littleoldlady on Dec 17, 2019 21:31:42 GMT
Can anyone connect?
Edit OK now
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benaj
Member of DD Central
N/A
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Post by benaj on Dec 17, 2019 21:38:15 GMT
It seems to be working
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littleoldlady
Member of DD Central
Running down all platforms due to age
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Post by littleoldlady on Mar 18, 2020 9:11:30 GMT
Can anyone log in?
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liso
Member of DD Central
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Post by liso on Mar 18, 2020 10:10:38 GMT
Yes, logged in as normal now.
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dovap
Member of DD Central
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Post by dovap on Mar 19, 2020 18:38:42 GMT
blah di blah
another liquidity issue:
"In light of this, and to protect the best interests of our clients, we are stopping transactions on the Octopus Choice platform. This means that for the time being, you will not be able to invest new money or withdraw existing money from the product.
We have also decided that we will no longer be taking a servicing fee from the Choice platform (thereby increasing the potential return for all investors). "
"When will you be able to withdraw your capital?
We will be working hard to return capital back to investors as soon as possible, for both outstanding withdrawal requests, and any made in the future.
The loan portfolio will continue to be monitored and serviced as normal. Interest will continue to be paid and credited to your account. Similarly, as individual loans mature, the proceeds will be returned to you as cash.
Any money invested into the Choice IFISA will be kept within the ISA wrapper and Octopus will work with investors to complete ISA transfers as needed.
As soon as more normal market conditions return, we will do everything we can better meet your expectations around making withdrawals from your investment.."
altho
"That’s why, going forward, Octopus will not be taking any servicing fee from the Choice platform. Instead, this will be used to increase returns to all investors.
This means that the target return across the portfolio has increased from the current 4% to c. 5.5%.
This is happening with immediate effect."
is better than the others tbf
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Post by scepticalinvestor on Mar 20, 2020 9:34:26 GMT
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macq
Member of DD Central
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Post by macq on Mar 20, 2020 11:31:22 GMT
Very hard for people who want their cash back now and is the nature of p2p at the moment but at least they have waived the fee and with 13m of their money on the line they have an incentive to keep on top
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iren
Member of DD Central
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Post by iren on Mar 30, 2020 20:46:54 GMT
Just requested a withdrawal of the exact amount of free cash in my account. Received the following email:
“We've received your request to withdraw £xx.xx [amount redacted] from your Octopus Choice account.
Unfortunately, the extreme market environment is causing a large number of investors to try to sell down or liquidate their investments at the same time. To protect the best interests of all our investors, we have taken the difficult decision to stop all trading on the Choice platform.
All we can pay out to you at the moment is any amount that has not been invested into any loans (which we show as the “amount waiting to be invested” in your account overview). This amount is held as cash, and is still available to you. We will withdraw this cash amount in line with your request, although we realise this is likely to be a small proportion of your overall investment.
We are really sorry about this. We are working hard to address this situation, but at present we can’t say how long it will be necessary for.”
Anyone else had this, and was the withdrawal received?
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littleoldlady
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Post by littleoldlady on Mar 31, 2020 8:33:04 GMT
This seems to be a standard email sent in reply to any withdrawal request whether there is enough cash to cover it or not. They are scrambling to sort out their IT after the suspension and in the middle of the lockdown. There are a lot of minor problems to be addressed, some more serious than this one, but hopefully the basic system integrity is OK.
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iren
Member of DD Central
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Post by iren on Mar 31, 2020 12:36:33 GMT
Thanks guys. I will wait and see what happens.
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Apr 1, 2020 15:46:31 GMT
They have now changed the wording of the email. It is still sent out the same whether or not there is enough liquid cash in the account, but the wording has been changed so that it is appropriate either way.
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iren
Member of DD Central
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Likes: 300
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Post by iren on Apr 3, 2020 1:04:10 GMT
The payment I requested on 30 March has just arrived at my bank.
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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 24, 2020 10:03:57 GMT
I've had problems logging in over the last few days, getting worse day by day, now getting 502 Bad Gateway, anyone else having problems? Yes, just got a "looks like were having some issues" response
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littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,045
Likes: 1,862
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Post by littleoldlady on Nov 5, 2021 19:13:52 GMT
Now the log on page does not display properly for me at least on Chrome or Edge.
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