jcb208
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Post by jcb208 on Apr 17, 2020 11:10:51 GMT
Not a penny for me still,I expect I'm bottom of the queue Was yours on the 12th? AIUI, this isn't a change to the queue, it's just righting the wrong of those who successfully withdrew on the 12th having their withdrawal reversed after the fact. ( If I have picked up on the right thing, I wish Assetz would highlight changes on their FAQ!) Nope 16th that's why then
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victors
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Post by victors on Apr 17, 2020 11:14:40 GMT
I have one withdrawal from 12th March released. One from 15th March still in queued withdrawals. Did you have one withdrawal reversed on the 12th? Yes, I had one withdrawal request successful, but subsequently reversed. A little later I made another request, but this was errored and the withdrawal was not made.
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alibaba
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Post by alibaba on Apr 17, 2020 11:16:18 GMT
Just had 20k released to cash from the 12th
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Mikeme
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Post by Mikeme on Apr 17, 2020 11:51:05 GMT
Ladies and gentlemen my apologies for jumping the gun. I assumed that all monies had been released and at that time had not got the email explaining.
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Post by henders on Apr 17, 2020 11:54:30 GMT
I have just had my queued funds (from 10.20 am on 12th March) released.
I feel AC come out of this with great credit.
Those who got trapped in backdated lock-in had probably come around to accepting that nothing could be done.
As I saw it the problem was that the software could not handle allowing a valid withdrawal request to through on the same day as the decision to stop withdrwals even if that request was made in advance of the decision.
It was a harsh decision by AC to lock us in.
However, in my opinion, they have now redeemed themselves on this, and well done to them.
I have always put AC as top of my list in the way they deal with investors and, in this instance, they have definately done the right thing.
Those that are still locked in will now be in a smaller group so they will benefit as well.
Well done AC and I will no doubt be re-inveting in due course.
Thank you.
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alanh
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Post by alanh on Apr 17, 2020 13:15:51 GMT
I have just had my queued funds (from 10.20 am on 12th March) released. I feel AC come out of this with great credit. Those who got trapped in backdated lock-in had probably come around to accepting that nothing could be done. As I saw it the problem was that the software could not handle allowing a valid withdrawal request to through on the same day as the decision to stop withdrwals even if that request was made in advance of the decision. It was a harsh decision by AC to lock us in. However, in my opinion, they have now redeemed themselves on this, and well done to them. I have always put AC as top of my list in the way they deal with investors and, in this instance, they have definately done the right thing. Those that are still locked in will now be in a smaller group so they will benefit as well. Well done AC and I will no doubt be re-inveting in due course. Thank you. Calm down a bit. All they are doing is correcting an error they shouldn't have made in the first place.
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jcb208
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Post by jcb208 on Apr 17, 2020 13:48:28 GMT
OK for withdrawels on the 12th I wont be investing again in the access accounts
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agent69
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Post by agent69 on Apr 17, 2020 14:08:58 GMT
Having got over the surprise KUDOS to AC for the actions they took. The majority of us here now have good reason to have supported them and to do so in the future. The majority on here will not have benefitted from this act of largesse
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Mikeme
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Post by Mikeme on Apr 17, 2020 15:04:06 GMT
The majority on here will not have benefitted from this act of largesse Mikeme may have changed his mind later, e.g. when he posted "Ladies and gentlemen my apologies for jumping the gun. I assumed that all monies had been released and at that time had not got the email explaining." I apologised because I had posted factually incorrectly. I still say KUDOS to AC for the actions they took. The majority of us here still have good reason to have supported them and to do so in the future.
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iren
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Post by iren on Apr 17, 2020 18:17:04 GMT
AC would have been in the position of having to respond formally to complaints over this matter, and formulating a response that would stand up under regulation and the law.
If they admitted that the 12 March withdrawal transactions had taken place, as already shown on our statements, they would have no right to forcibly reinvest the funds. If they were to claim that the transactions shown only represented an order for sale rather than the fulfilment of an order in cash, this would have been admitting that their marketing claims of the last few years, that withdrawals were being performed in a fraction of a second, were false and misleading.
In the end, crisis or not, we should all have the right to rely on our statements as evidence that a transaction has actually taken place. Transactions should not be reversible unless an error has occurred. Anything else involves a fundamental breach of trust, and it appears that Assetz have recognised this.
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lara
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Post by lara on Apr 17, 2020 20:45:48 GMT
Ladies and gentlemen my apologies for jumping the gun. I assumed that all monies had been released and at that time had not got the email explaining. Damn, you got my hopes up there Mikeme!
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joh
New Member
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Post by joh on Apr 18, 2020 9:24:40 GMT
Good morning everybody I have been wondering if it wouldn't be a fairer system to instead of processing withdrawal requests giving the same amount of £ back regardless of the size of the withdrawal request, processing them giving the same % of £ back and thus talking some but not full account of the size of the request. So basically instead of processing £10 back for each request say processing 1% of each request (whichever % can be made available for withdrawal on a given day). If you asked to withdraw £100 you are given that day £1, if you requested £10,000 you are given £100. Apologies if that has been suggested and discussed previously; the thread is now so long... Thanks
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Post by Harland Kearney on Apr 18, 2020 10:09:31 GMT
Good morning everybody I have been wondering if it wouldn't be a fairer system to instead of processing withdrawal requests giving the same amount of £ back regardless of the size of the withdrawal request, processing them giving the same % of £ back and thus talking some but not full account of the size of the request. So basically instead of processing £10 back for each request say processing 1% of each request (whichever % can be made available for withdrawal on a given day). If you asked to withdraw £100 you are given that day £1, if you requested £10,000 you are given £100. Apologies if that has been suggested and discussed previously; the thread is now so long... Thanks Yes this has been the point of contention since the lockout. Unfontunely, for some accounts to reach 1% of investment, we'd still all be waiting for a payout at this point. Not if it were a true pro-rata system. AC intend to move away from this pool system as soon as we reach the min' operating level. We will then digest withdrawals on a first come, first serve basis. (Except for those who swept funds, who seem doomed to the 19th reguardless of we requested a withdrawal on the 12 or not so far)
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Post by drphil on Apr 21, 2020 11:06:02 GMT
I had a 30dayAA withdrawal scheduled for 15.30 on 12 March. AC are telling me that this was after the cut-off time of 2.35 so I will have to join the pool.
Could someone please advise if this correct, thanks.
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Post by Harland Kearney on Apr 21, 2020 11:19:32 GMT
I had a 30dayAA withdrawal scheduled for 15.30 on 12 March. AC are telling me that this was after the cut-off time of 2.35 so I will have to join the pool.
Could someone please advise if this correct, thanks.
The pay out for 12th of March only corrected those who made cash withdrawals from their cash accounts, which were inadvertly reversed a couple of days later back to their cash account.
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