rogerthat
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Post by rogerthat on Mar 4, 2020 12:59:19 GMT
Received 12.44 04/03/20
The Joint Administrators are now in a position to open the platform to allow investors to make the relevant withdrawal requests to enable investors to receive the available funds that are held in their accounts.
The platform will initially open for three days, from today’s date 4 March 2020 to 5pm on Friday 6 March 2020, to allow investors to complete withdrawal requests.
Any investor that has not provided AML documentation and/or bank details as previously requested, should proceed to do so immediately.
The requests will be collated and processed on Monday 9 March 2020.
Due to the level of expected withdrawal requests, it is not possible to give a time on Monday 9 March 2020 that the funds will be available, however, it is envisaged that all requests will have been processed by the end of the day.
The platform will reopen to withdrawal requests as normal on Tuesday 10 March 2020.
ISA’s:
Should investors wish to transfer available funds to another ISA provider, they will need to contact their new ISA provider to authorise them to make a transfer request, in line with the ISA transfer rules. The Joint Administrators are not able to provide any advice in relation to tax on ISA’s, and investors are encouraged to seek their own independent advice.
For and on behalf of FundingSecure Limited.
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arby
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Post by arby on Mar 4, 2020 13:17:42 GMT
And the floodgates have been opened! Get your withdrawal request in now! done mine... it says in email “Any investor that has not provided AML documentation and/or bank details as previously requested, should proceed to do so immediately.” I’ve never been requested any documentation, so I’ve just made a withdrawal. I hope it will be ok as my personal and bank details never changed. It's for people where the simple/automated ID checks didn't work. If you weren't asked then you're fine.
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Post by stankroenke1 on Mar 4, 2020 14:53:40 GMT
I have about 2k in my sons name paid in through my account in 2015, how can i show him linked to my account?. btw only £25 is available
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arby
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Post by arby on Mar 4, 2020 15:18:14 GMT
I have about 2k in my sons name paid in through my account in 2015, how can i show him linked to my account?. btw only £25 is available How is it in his name if it's in your account? No judgement here, just trying to understand the position before suggesting solutions.
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Post by stankroenke1 on Mar 4, 2020 17:28:06 GMT
he was a student they have all his details Ie N I no, Full name etc. I had his money in my account, I tnink we got the £25 incentive too.
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criston
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Post by criston on Mar 6, 2020 16:55:56 GMT
My receiving IFISA manager told me the following
'Funding Secure representative told me all enquiries and requests should continue to be sent to their old Stokenchurch address and it would be redirected to the administrators automatically by Royal Mail.'
I posted it first class on Wednesday, my IFISA manager received it yesterday & posted to FS yesterday recorded delivery.
I assume this means Royal Mail has already intercepted it.
Will keep you informed, as we should be able to trace what happens.
FS evidently used to deal with everything electronically.
HMRC guidance suggests that ISA transfers should take place within 14 days
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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 Mar 6, 2020 18:30:45 GMT
My receiving IFISA manager told me the following 'Funding Secure representative told me all enquiries and requests should continue to be sent to their old Stokenchurch address and it would be redirected to the administrators automatically by Royal Mail.'I posted it first class on Wednesday, my IFISA manager received it yesterday & posted to FS yesterday recorded delivery. I assume this means Royal Mail has already intercepted it. Will keep you informed, as we should be able to trace what happens. FS evidently used to deal with everything electronically. HMRC guidance suggests that ISA transfers should take place within 14 days Only for cash ISA 15 days mandatory, everything else is 30 days advisory.
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kielbasa
Member of DD Central
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Post by kielbasa on Mar 9, 2020 12:19:22 GMT
Has anyone who has requested a withdrawal received any money in their bank account yet?
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criston
Member of DD Central
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Post by criston on Mar 9, 2020 12:26:30 GMT
Has anyone who has requested a withdrawal received any money in their bank account yet? Yes
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foolsgold
Member of DD Central
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Post by foolsgold on Mar 9, 2020 12:28:41 GMT
Received...Yes
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arby
Member of DD Central
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Post by arby on Mar 9, 2020 12:52:34 GMT
Yes
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rogerthat
Member of DD Central
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Post by rogerthat on Mar 9, 2020 13:16:31 GMT
yes..the bad news being that its only 2.3% of what im owed  |
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Post by brightspark on Mar 9, 2020 13:22:24 GMT
Yes. it was less than a £5 repayment so a manual transfer was done apparently.
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arby
Member of DD Central
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Post by arby on Mar 9, 2020 13:53:17 GMT
yes..the bad news being that its only 2.3% of what im owed Express it as a % of what you think you'll eventually get back and it'll feel like a much more substantial payment  I got quite a chunky part back today, but the race cars mean I'm writing off a huge amount across those 5(?) loans.
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Post by defaultinator5000 on Mar 9, 2020 17:37:15 GMT
After 4.5 months of administration, I finally got 10% of my money back! Half of that was cash that got stuck when FS went bust so yeah, 5% recovered by administrators so far  .
Presumably the other 95% will be recovered in the remaining 7.5 months, or written off. I wonder which one is more likely...
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