jane
Posts: 145
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Post by jane on Mar 22, 2020 11:54:27 GMT
Thanks all for your estimates! To the poster who mentioned that the huge FTSE crash on the 12th might have promoted some RYIs, I was one of those Nervous Nellies I've been stupidly using the RS Access (ex rolling) account as a quasi high interest bank account. I will struggle to make rent next month (due on the 5th) if the funds don't get released by then No one to blame but myself. Hopefully the landlord will show some forbearance. Don't forget that you can set the re-investment rate of the access account really high so that any money returned when the repayments are made at the end of the month wont get reinvested. You would then be able to withdraw this money instantly.
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Post by ruralres66 on Mar 22, 2020 13:22:24 GMT
You can apply to withdraw as I did, but it hasn't yet come into my bank. That's 4 days......
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Post by Deleted on Mar 22, 2020 13:40:24 GMT
You can apply to withdraw as I did, but it hasn't yet come into my bank. That's 4 days...... RS withdrawals arrive in your account in the afternoon of the next working day. If you asked to 'release your investment', loan sales are now taking over 2 weeks - when released, you need to withdraw the money to your bank account manually.
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Post by jenna on Mar 22, 2020 14:15:29 GMT
Requests are in a queue, it's been stuck at 9th March the past few days so yours has some way to go yet. You can apply to withdraw as I did, but it hasn't yet come into my bank. That's 4 days......
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Post by jaycee on Mar 22, 2020 16:23:50 GMT
Requests are in a queue, it's been stuck at 9th March the past few days so yours has some way to go yet. You can apply to withdraw as I did, but it hasn't yet come into my bank. That's 4 days...... As long as ruralres doesn't mean there's now a delay on withdrawing from holding account to bank as well as releasing from loans to holding account...
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mark123
Member of DD Central
Posts: 111
Likes: 120
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Post by mark123 on Mar 22, 2020 19:41:54 GMT
On Friday £20,000 was returned from 5 year to my holding account.
Unfortunately I didn't take a note of when I requested the transfer so I can't tell you how many days it took, but it wasn't unreasonable.
Good luck to all, Mark
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victors
Member of DD Central
Posts: 157
Likes: 86
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Post by victors on Mar 23, 2020 8:30:15 GMT
I am currently waiting for my RYI to come through, but in the mean time am withdrawing repayments.
I set my reinvestment rate to 8% and simply cancelled the orders and the money went to my holding account. I do this each day.
When I checked this morning there was an amount on market of 120 pounds. When I went to cancel the order, there were no orders there and the 120 pounds had been reinvested at 3.6%.
Can't understand why.
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Post by amandadee on Mar 23, 2020 8:38:43 GMT
I am currently waiting for my RYI to come through, but in the mean time am withdrawing repayments. I set my reinvestment rate to 8% and simply cancelled the orders and the money went to my holding account. I do this each day. When I checked this morning there was an amount on market of 120 pounds. When I went to cancel the order, there were no orders there and the 120 pounds had been reinvested at 3.6%. Can't understand why. Was just logging on to ask the exact same question! Very annoying as I had about £500 repaid today, have my rate set at 8% yet it’s all been auto invested at 3%?! I’ve had an RYI in the queue since about the 10th - understand there’s a wait there but don’t understand why my repayments are getting auto reinvested in the meantime. Is anyone aware?
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alanh
Posts: 556
Likes: 560
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Post by alanh on Mar 23, 2020 9:02:53 GMT
I am currently waiting for my RYI to come through, but in the mean time am withdrawing repayments. I set my reinvestment rate to 8% and simply cancelled the orders and the money went to my holding account. I do this each day. When I checked this morning there was an amount on market of 120 pounds. When I went to cancel the order, there were no orders there and the 120 pounds had been reinvested at 3.6%. Can't understand why. I've seen that happen before on a monday morning. I think its something to do with a weekend payment run. If you check your transaction history you should find that the £120 was supposed to be rolled over and that it never was an actual repayment. Thats why it does not appear when you go to check what is apparently "on market".
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Post by ruralres66 on Mar 23, 2020 9:25:35 GMT
Requests are in a queue, it's been stuck at 9th March the past few days so yours has some way to go yet. As long as ruralres doesn't mean there's now a delay on withdrawing from holding account to bank as well as releasing from loans to holding account... That's exactly what I am talking about. I had £44 in holding and that came through but the much bigger sum, ( a large repayment early) in holding still has to appear.
In holding with a one off to my bank, it has disappeared from my account summary and total.
Therefore it is in limbo not earning any interest either.
It was a 5 figure sum.
I also did a RYI last week for another chuck - not a peep from that though that is earning interest.
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alanh
Posts: 556
Likes: 560
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Post by alanh on Mar 23, 2020 9:38:11 GMT
Holding account withdrawals come through the next working day. I did a withdrawal on Thursday and received it in my bank account Friday last week.
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Post by ruralres66 on Mar 23, 2020 9:44:29 GMT
Holding account withdrawals come through the next working day. I did a withdrawal on Thursday and received it in my bank account Friday last week. I have just rung RS who say it should be there by 6 pm today as it was instructed on Friday and today is first 'working day'.
Also said it was unacceptable to just put out a vague RYI statement.
People will need to accept the unprecedented situation, of course, and will need to make alternative arrangements BUT what is needed is a much clearer, likely time frame!
I have lodge this as a suggestion and likely complaint and asked senior management and Mr Lewis issue something more helpful!
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Post by sjames on Mar 23, 2020 10:11:28 GMT
I wish I'd known of this forum earlier!
I have had a large 5 figure sum in the rolling market. I have requested that this be withdrawn in full over the weekend. Any thoughts on when I can expect to see it in my bank account?
More importantly, if RS goes under, will my money be safe as presumably investments are separate to RS as an organisation?
Thanks.
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Post by mikael on Mar 23, 2020 11:53:11 GMT
Hi again folks. I managed to get a bit of info on the phone with RS. Looks like they are still working on Monday the 9th late afternoon.
That was the spike day, the person on the phone said requests made Sunday the 8th were very quick and 24h as normal, but this whole chaos started on Monday the 9th and is still on Monday.
Hopefully once Monday is cleared things will speed up, relatively. Based on this info I’d allow 1.5 weeks per day.
No expert though, but worth saying I don’t believe we will lose our money, it’s just taking time. Hopefully someone will dump a couple of million into RS and speed things along!
Good luck
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Post by blueboy on Mar 23, 2020 12:10:04 GMT
I wish I'd known of this forum earlier! I have had a large 5 figure sum in the rolling market. I have requested that this be withdrawn in full over the weekend. Any thoughts on when I can expect to see it in my bank account? More importantly, if RS goes under, will my money be safe as presumably investments are separate to RS as an organisation? Thanks. If RS goes under, you will in all likelihood lose your money.
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