|
Post by RateSetter on Apr 28, 2020 20:11:31 GMT
God evening all. Today we have delivered £0.8m, and the full update is copied below. After reading the first line knowing God saves with RS makes me feel better about already Thank you macq - typo corrected!
|
|
gg
Posts: 83
Likes: 61
|
Post by gg on Apr 28, 2020 22:47:16 GMT
If RYIs were delivered in batches of £1000, sure, someone wanting £2k would be paid in full in two visits to the top of the queue. But someone wanting £100k would reach the top of the queue quicker.
Maybe 10% of your RYI request should be paid each time you hit the top of the queue.
What would be unfair is if those arriving late to the RYI party suffered ALL of the losses due to bad debt (that are likely to arrive in the next few months).
The meaning behind my suggestion remains valid.
gg
|
|
starfished
Member of DD Central
Posts: 298
Likes: 216
|
Post by starfished on Apr 28, 2020 23:22:06 GMT
If RYIs were delivered in batches of £1000, sure, someone wanting £2k would be paid in full in two visits to the top of the queue. But someone wanting £100k would reach the top of the queue quicker. Maybe 10% of your RYI request should be paid each time you hit the top of the queue. What would be unfair is if those arriving late to the RYI party suffered ALL of the losses due to bad debt (that are likely to arrive in the next few months). The meaning behind my suggestion remains valid. It is still not clear to me why if significant losses are coming, the people who moved first should compensate those that moved later, when all had access to the same information? As a counter example, Higher returns for faster cash movements that enables some here to benefit from weekend rates rises are not shared equally with those who don't move fast enough? For the record I have not RYI any of my RS investments.
|
|
gg
Posts: 83
Likes: 61
|
Post by gg on Apr 29, 2020 13:00:25 GMT
It isn’t that early RYI requesters would be compensating those who requested later. It is more about everyone who invested (and made loans) sharing the bad debt burden if and when it comes.
It’s about fairness to all.
gg
|
|
|
Post by BrianC on Apr 29, 2020 15:27:00 GMT
RateSetter, When you give today’s update can you please say how many Access withdrawals were processed today or this week? Access withdrawals seem to have ground to a halt. Less than 100 in over a week despite more than 20,000 in the queue. £1M a day is irrelevant to many of us if the Access queue isn’t moving. Please give us more information on this.
|
|
|
Post by freefalljunkie on Apr 29, 2020 15:58:43 GMT
RateSetter, When you give today’s update can you please say how many Access withdrawals were processed today or this week? Access withdrawals seem to have ground to a halt. Less than 100 in over a week despite more than 20,000 in the queue. £1M a day is irrelevant to many of us if the Access queue isn’t moving. Please give us more information on this. Wholeheartedly agree, more information would be welcome by many on this forum.
|
|
bt
Sir Bufton Tufton, Jean Paul Sartre Zippy, Bungle, Jeffrey Archer Andre Previn and the LSO Hello
Posts: 129
Likes: 53
|
Post by bt on Apr 29, 2020 16:05:56 GMT
I emailed RS and got the standard "more than one month" response.
I persisted and asked if "more than one month" implies less than two months. This was the reply:
If you have requested to release investment on 21st March and due to the current longer waiting times, it is more likely that it could take anything up to two months or even longer for the funds to be released as the liquidity has tightened. When you request to release funds it does purely depend on market liquidity.
|
|
|
Post by RateSetter on Apr 29, 2020 16:44:22 GMT
Good afternoon all. Today we have delivered £1m. Full update is below:
|
|
|
Post by BrianC on Apr 29, 2020 16:47:26 GMT
Pointless standards response It’s getting very old now RateSetter. WHY HAVE ACCESS WITHDRAWALS GROUND TO A HALT!?
|
|
chris1200
Member of DD Central
Posts: 827
Likes: 508
|
Post by chris1200 on Apr 29, 2020 16:54:55 GMT
Pointless standards response It’s getting very old now RateSetter. WHY HAVE ACCESS WITHDRAWALS GROUND TO A HALT!? Surely we know the likely answer? A large amount has been requested in the 112 or so requests between you and mpendle . RS obviously aren't going to give a running commentary on individual withdrawal amounts just for your benefit. At least you know you're coming up pretty soon!
|
|
|
Post by jaycee on Apr 29, 2020 17:07:10 GMT
Pointless standards response It’s getting very old now RateSetter. WHY HAVE ACCESS WITHDRAWALS GROUND TO A HALT!? They could at least have the decency to change the Account Name back to ROLLING from ACCESS, since it turns out that ACCESS is what we definitely don't have, and ROLLING is definitely what it does do whether we like it or not.
Farcical that they are lending again, and paying out to people who subscribed to a 5-year fix faster than to people who subscribed to a "request your money at any time". Borderline false advertising, is "ACCESS".
"ACCESS IN TWO MONTHS, MAYBE, IF WE FEEL LIKE IT".
|
|
|
Post by Deleted on Apr 29, 2020 17:07:25 GMT
Pointless standards response It’s getting very old now RateSetter. WHY HAVE ACCESS WITHDRAWALS GROUND TO A HALT!? I would try emailing them and formulating it as a complaint - use complaints@ratesetter.com RS is not very responsive on this forum, unless you correct a typo of course.
|
|
r00lish67
Member of DD Central
Posts: 2,692
Likes: 4,048
|
Post by r00lish67 on Apr 29, 2020 17:11:13 GMT
Pointless standards response It’s getting very old now RateSetter. WHY HAVE ACCESS WITHDRAWALS GROUND TO A HALT!? Surely we know the likely answer? A large amount has been requested in the 112 or so requests between you and mpendle . RS obviously aren't going to give a running commentary on individual withdrawal amounts just for your benefit. At least you know you're coming up pretty soon! Well quite. Also, I think RS's performance in delivering £30m of RYI requests without having called any form of stabilisation event (at the time of writing) is bordering on miraculous. Well done them! edit: though I do agree there's possibly some scope for further questioning re: access vs 1yr vs 5yr release speeds...
|
|
|
Post by erniec on Apr 29, 2020 17:42:43 GMT
As I understand, Access, 1yr and 5yr are separate pools of money and will move at different rates.
|
|
starfished
Member of DD Central
Posts: 298
Likes: 216
|
Post by starfished on Apr 29, 2020 19:25:52 GMT
Also the 1 year and 5 year markets have a fee which will be helping their financial situation... What they are doing makes. What I think is an interesting question is how much of a fee would some in the access queue be willing to pay to speed up the "access" to their money...?
|
|