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Post by giammy on Apr 1, 2021 7:22:57 GMT
why interest has not been paid today?
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warn
Member of DD Central
Curmudgeon
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Post by warn on Apr 1, 2021 7:43:01 GMT
why interest has not been paid today? Perhaps as an April Fool jape? To celebrate your 1-year anniversary? 
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Post by chris on Apr 1, 2021 7:51:35 GMT
why interest has not been paid today? Perhaps as an April Fool jape? To celebrate your 1-year anniversary? Was going to make the same joke. It's being processed, should show in accounts in the next 1 - 2 hours.
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alender
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Post by alender on Apr 1, 2021 8:25:22 GMT
Interest now paid in my accounts.
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ptr120
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Post by ptr120 on Apr 1, 2021 8:47:17 GMT
Looks like it has been paid now
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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 1, 2021 16:31:16 GMT
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alender
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Post by alender on Apr 1, 2021 17:38:07 GMT
This is difficulty to explain, we seem to getting contradictory messages from AC or as you say is it an April Fool?
From P2Pfinacenews
"with lots of investment into the platform, including from RateSetter, Assetz Capital may need to limit investment into the platform."
and
“There’s no guarantee but the figures suggest the access accounts will be back to normal in April.”
But there is a need (at least that what AC told us in the email 22/3/2021) to split the AAs into exit and new lending accounts but this make no sense given the statements from Stuart's article on P2Pfinacenews, why limit incoming funds, just use these to pay out those who wish to leave. Also does this mark an end to the SM, if there so much money trying to come in and no where for it to go then perhaps the answer is an SM that can trade at a premium.
The most logical explanation is that from 22 Mar to 1 Apr there have been significant changes. It would be nice if AC could give us some statements on the plans for AAs, are Exit Accounts still being planed? what will happen to the SM, if AC were to be clear on what will be happening in as little as 1 month's time it could well increase confidence and bring the AAs back to normal in a very short time.
I think that P2P in general is facing a very difficult situation, on one hand cheap Government money picking up the best loans until support ends. When support ends the risks will increase for lenders especially those who bought into loans before the end of Government support. Also the steady increase in Bond Yields may mean that the low interest rate environment should start to change.
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number5
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Post by number5 on Apr 4, 2021 15:00:43 GMT
I was using the QAA accounts a couple of years back, however I am looking to invest back into them again before the ISA deadline.
I remember reading there was a withdrawal freeze during Covid.Is there still an issue with withdrawals, or have they resumed to 30/90 day?
Or is there anything else I should know about the QAA's that has changed over the last few years?
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Post by df on Apr 4, 2021 15:30:30 GMT
I was using the QAA accounts a couple of years back, however I am looking to invest back into them again before the ISA deadline. I remember reading there was a withdrawal freeze during Covid.Is there still an issue with withdrawals, or have they resumed to 30/90 day? Or is there anything else I should know about the QAA's that has changed over the last few years? It's getting better with withdrawals, but the accounts are not back to normal yet. As you probably have noticed the rates are lower. You are not allowed to invest if you are in withdrawal queue, you have to cancel your withdrawals first. The loan book is thinner because the loans are repaying, but no new loans coming in since year ago. AC is planning to restart consumer lending soon and if that happens AAs might get back to normal again.
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number5
Member of DD Central
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Post by number5 on Apr 4, 2021 15:54:24 GMT
I was using the QAA accounts a couple of years back, however I am looking to invest back into them again before the ISA deadline. I remember reading there was a withdrawal freeze during Covid.Is there still an issue with withdrawals, or have they resumed to 30/90 day? Or is there anything else I should know about the QAA's that has changed over the last few years? It's getting better with withdrawals, but the accounts are not back to normal yet. As you probably have noticed the rates are lower. You are not allowed to invest if you are in withdrawal queue, you have to cancel your withdrawals first. The loan book is thinner because the loans are repaying, but no new loans coming in since year ago. AC is planning to restart consumer lending soon and if that happens AAs might get back to normal again. Yea I gave noticed the rates are lower, theres not much a jump between 30 day and 90 day I remember you could make a withdrawal for every day for 30 days consecutive and effectively you had an immediate access account. Cancel if you didn't want to invest. With the new rule, can you no longer do that?
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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
Likes: 11,549
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Post by ilmoro on Apr 4, 2021 16:00:34 GMT
It's getting better with withdrawals, but the accounts are not back to normal yet. As you probably have noticed the rates are lower. You are not allowed to invest if you are in withdrawal queue, you have to cancel your withdrawals first. The loan book is thinner because the loans are repaying, but no new loans coming in since year ago. AC is planning to restart consumer lending soon and if that happens AAs might get back to normal again. Yea I gave noticed the rates are lower, theres not much a jump between 30 day and 90 day I remember you could make a withdrawal for every day for 30 days consecutive and effectively you had an immediate access account. Cancel if you didn't want to invest. With the new rule, can you no longer do that? You can do it still but wont be able to add any funds to the account directly while there are any withdrawal requests are active. Doesnt stop transfers from other accounts, other than cash, or reinvestment of interest AIUI.
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Post by df on Apr 4, 2021 16:14:12 GMT
It's getting better with withdrawals, but the accounts are not back to normal yet. As you probably have noticed the rates are lower. You are not allowed to invest if you are in withdrawal queue, you have to cancel your withdrawals first. The loan book is thinner because the loans are repaying, but no new loans coming in since year ago. AC is planning to restart consumer lending soon and if that happens AAs might get back to normal again. Yea I gave noticed the rates are lower, theres not much a jump between 30 day and 90 day I remember you could make a withdrawal for every day for 30 days consecutive and effectively you had an immediate access account. Cancel if you didn't want to invest. With the new rule, can you no longer do that? You can withdraw from one and add to another. ATM I keep my scheduled withdrawals on 90day going and invest some into 30day. But these 90day withdrawals are in queue since about January 2020. If you start from scratch, by the time you build your daily withdrawal schedule the new rule might disappear and everything could be back to what it used to be before COVID.
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iRobot
Member of DD Central
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Post by iRobot on Apr 4, 2021 16:18:00 GMT
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number5
Member of DD Central
Posts: 449
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Post by number5 on Apr 4, 2021 16:32:02 GMT
I was using the QAA accounts a couple of years back, however I am looking to invest back into them again before the ISA deadline. I remember reading there was a withdrawal freeze during Covid.Is there still an issue with withdrawals, or have they resumed to 30/90 day? Or is there anything else I should know about the QAA's that has changed over the last few years? It's getting better with withdrawals, but the accounts are not back to normal yet. As you probably have noticed the rates are lower. You are not allowed to invest if you are in withdrawal queue, you have to cancel your withdrawals first. The loan book is thinner because the loans are repaying, but no new loans coming in since year ago. AC is planning to restart consumer lending soon and if that happens AAs might get back to normal again. With no new loans coming, what are the chances of say £20k being deposited and invested today?
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Post by df on Apr 4, 2021 17:35:38 GMT
It will be ironic if the withdrawal queue turns into investment queue, I hope not I don't know what the plan is, but the most sensible solution I've seen was Zopa stopped allowing new deposits until they had room for new money.
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