iRobot
Member of DD Central
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Post by iRobot on Feb 4, 2021 21:19:20 GMT
why is AC letting withdrawals at 0% get through before discounted withdrawals? I'm guessing what you are seeing is AC's distribution of 'natural' loan repayments and the like. Completely separate to anything the the Marketplace may yield (where monies come for other investors, rather than loan repayments). Did you not get a ~10% redemption on your withdrawal sum last Saturday?
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Post by elephantrosie on Feb 4, 2021 21:59:27 GMT
i didnt look closely at the redemption sum. how do i know if i had it?
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Post by elephantrosie on Feb 4, 2021 22:19:30 GMT
0.2% discount to buy £10,000 & 0.4% discount to sell £10,000
There's a spread, which I still don't quite understand why. where did you see this?
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cb25
Posts: 3,528 
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Post by cb25 on Feb 4, 2021 22:19:33 GMT
i didnt look closely at the redemption sum. how do i know if i had it? If the Withdrawal instruction is still in place, click on that instruction on the Marketplace and look for a transaction like "30/01/2021 £72.58 0.00% £72.58 Complete". The 0.00% means the money came out at par.
Otherwise, click the '...' button that's in the top right hand corner of thet Access Account box, then click on View Transactions. If there was a payout, you'll see an entry like "30/01/2021, 01:11 Withdrawal from Quick Access Account (5) £72.58"
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Post by elephantrosie on Feb 4, 2021 22:22:17 GMT
i didnt look closely at the redemption sum. how do i know if i had it? Find an Access Account that had a withdrawal request in place Saturday night. Click the '...' button that's in the top right hand corner of that Access Account box, then click on View Transactions. If there was a payout, you'll see an entry like "30/01/2021, 01:11 Withdrawal from Quick Access Account (5) £72.58" i can see that on my account, but would it states there is a redemption? i cant see that
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Post by elephantrosie on Feb 4, 2021 22:32:14 GMT
If you enter a high figure in the discount box an info panel below will tell you what minimum discount is that you can currently exit at. E.g. when I tested a £10 withdrawal 2 minutes ago and entered 1 (for 1%) in the discount box, it said: "At present, based on current invest instructions, you could immediately sell £10.00 at a discount of 0.40% and receive £9.96 of cash. Please note this is a live marketplace so we cannot guarantee this will remain available." elephantrosie The figures I use below are correct at the time of writing, but are likely to change so please DYOR.
If you do as Ace says - start (but do not execute) a withdrawal action for £10 at (say) 2%, it says "you could immediately sell £10.00 at a discount of 0.40% and receive £9.96 of cash". That tells you where buyers are at the moment, they're offering to buy loans at 0.4% discount (but imo does not answer your question "how do i see what is the withdrawal discounts offered by the rest now")
If you do as dave4 says - start (but do not execute) an invest action for £10, it says "you could immediately invest £10.00 at a discount of 0.20%". That tells you where sellers are at the moment, they're offering to sell loans at 0.2% discount (and imo does answer your question). Problem with this is - you can only determine the depth of the seller queue to the extent of your free cash. The 0.2% discount queue could be £10K long, £50K long,... (Edit: dead-money has just posted above that there is at least £10K on sale at 0.2% discount)
Choices in the above example: -if you're in a hurry, you could sell immediately at 0.4% discount -if you want to offer the same best discount as other sellers, you could put in a withdrawal request at 0.2% discount (but you may be stuck at the back of a very long queue). There is no way to tell how long your withdrawal request will take to complete.
-if you want to offer a better discount to other sellers, you could put in a withdrawal request at 0.3% discount and be at the front of that queue. There is no way to tell how long your withdrawal request will take to complete.
I cant see the discount options when attempted to invest using my IFISA cash. I do not have cash in my non IFISA account.
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Post by Ace on Feb 4, 2021 22:48:13 GMT
Find an Access Account that had a withdrawal request in place Saturday night. Click the '...' button that's in the top right hand corner of that Access Account box, then click on View Transactions. If there was a payout, you'll see an entry like "30/01/2021, 01:11 Withdrawal from Quick Access Account (5) £72.58" i can see that on my account, but would it states there is a redemption? i cant see that A "withdrawal" from an Access Account is a "redemption" of a portion of your loans in that account. The transaction statements use the word "withdrawal" to indicate this.
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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
Posts: 11,329
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Post by ilmoro on Feb 4, 2021 22:53:58 GMT
elephantrosie The figures I use below are correct at the time of writing, but are likely to change so please DYOR.
If you do as Ace says - start (but do not execute) a withdrawal action for £10 at (say) 2%, it says "you could immediately sell £10.00 at a discount of 0.40% and receive £9.96 of cash". That tells you where buyers are at the moment, they're offering to buy loans at 0.4% discount (but imo does not answer your question "how do i see what is the withdrawal discounts offered by the rest now")
If you do as dave4 says - start (but do not execute) an invest action for £10, it says "you could immediately invest £10.00 at a discount of 0.20%". That tells you where sellers are at the moment, they're offering to sell loans at 0.2% discount (and imo does answer your question). Problem with this is - you can only determine the depth of the seller queue to the extent of your free cash. The 0.2% discount queue could be £10K long, £50K long,... (Edit: dead-money has just posted above that there is at least £10K on sale at 0.2% discount)
Choices in the above example: -if you're in a hurry, you could sell immediately at 0.4% discount -if you want to offer the same best discount as other sellers, you could put in a withdrawal request at 0.2% discount (but you may be stuck at the back of a very long queue). There is no way to tell how long your withdrawal request will take to complete.
-if you want to offer a better discount to other sellers, you could put in a withdrawal request at 0.3% discount and be at the front of that queue. There is no way to tell how long your withdrawal request will take to complete.
I cant see the discount options when attempted to invest using my IFISA cash. I do not have cash in my non IFISA account. You should be able to but you need to click on the discounting options for it to display the discount box. Edit You cant see discounts if you have a withdrawal instruction on that access account as you cant have a withdrawal & invest instruction at the same time
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Post by Ace on Feb 4, 2021 22:57:14 GMT
elephantrosie The figures I use below are correct at the time of writing, but are likely to change so please DYOR.
If you do as Ace says - start (but do not execute) a withdrawal action for £10 at (say) 2%, it says "you could immediately sell £10.00 at a discount of 0.40% and receive £9.96 of cash". That tells you where buyers are at the moment, they're offering to buy loans at 0.4% discount (but imo does not answer your question "how do i see what is the withdrawal discounts offered by the rest now")
If you do as dave4 says - start (but do not execute) an invest action for £10, it says "you could immediately invest £10.00 at a discount of 0.20%". That tells you where sellers are at the moment, they're offering to sell loans at 0.2% discount (and imo does answer your question). Problem with this is - you can only determine the depth of the seller queue to the extent of your free cash. The 0.2% discount queue could be £10K long, £50K long,... (Edit: dead-money has just posted above that there is at least £10K on sale at 0.2% discount)
Choices in the above example: -if you're in a hurry, you could sell immediately at 0.4% discount -if you want to offer the same best discount as other sellers, you could put in a withdrawal request at 0.2% discount (but you may be stuck at the back of a very long queue). There is no way to tell how long your withdrawal request will take to complete.
-if you want to offer a better discount to other sellers, you could put in a withdrawal request at 0.3% discount and be at the front of that queue. There is no way to tell how long your withdrawal request will take to complete.
I cant see the discount options when attempted to invest using my IFISA cash. I do not have cash in my non IFISA account. After hitting the "Invest" button an "Invest Funds" dialog panel pops up. Below the "Amount" line in the "Invest Funds" dialog you will see "Discounting Options" underlined. Click "Discounting Options" to be able to enter a discount. EDIT: Crossed with ilmoro, who put it much more succinctly.
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ian
Posts: 342
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Post by ian on Feb 5, 2021 7:15:34 GMT
Question - how much cash is held in the AA accounts today in comparison to last week. Can we anticipate another 10% payout at the end of feb??
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cb25
Posts: 3,528
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Post by cb25 on Feb 5, 2021 9:52:34 GMT
Question - how much cash is held in the AA accounts today in comparison to last week. Can we anticipate another 10% payout at the end of feb?? Answer: probably about the same as post the “10%” payouts. Given the scope for rounding errors involved I wouldn’t like to say or rely on small differences in numbers derived four or five days apart. Anyone on here can anticipate, guess, opinionate away on what might happen at the end of Feb but as of now I’d doubt there’d me much to substantiate that view. Using the same method as when I posted "Cash in Access Accounts is now 17.46%, down from 20.32% on 24 Jan" on 30 Jan, I make the AA cash component to be 18.5%, so closer to after the 10% payout than before it. Even if the cash level rose to 20%+, clearly still down to AC.
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cb25
Posts: 3,528
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Post by cb25 on Feb 5, 2021 17:22:30 GMT
Question - how much cash is held in the AA accounts today in comparison to last week. Can we anticipate another 10% payout at the end of feb?? Just received an email from AC saying there will be another distribution "This distribution will happen on Saturday 6th February and should see a reduction in all eligible withdrawal requests by approximately 20%."
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Post by df on Feb 5, 2021 19:02:13 GMT
Question - how much cash is held in the AA accounts today in comparison to last week. Can we anticipate another 10% payout at the end of feb?? Just received an email from AC saying there will be another distribution "This distribution will happen on Saturday 6th February and should see a reduction in all eligible withdrawal requests by approximately 20%." ...and the warning to preempt any future speculations "it’s important to note that these are very unlikely to continue on a weekly basis".
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ian
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Post by ian on Feb 5, 2021 21:15:08 GMT
Someone with the capability (not me obvs) lets monitor the cash position pre & post the distribution
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tjtl
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Post by tjtl on Feb 6, 2021 7:48:07 GMT
Payout happened over night. Got back £26k, almost exactly 20% of portfolio. Small hat-tip to Assetz, they have made a number of false-steps over the past year but they are getting something of their act together. Put the first repayments and all my RateSetter cash into emerging market funds and Fidelity China Special Opportunities- up 2.6% in under a month- so feeling a lot happier than a couple of months ago (kiss of death for equity performance from here on!).
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