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Post by cinereus on May 21, 2020 11:08:02 GMT
That's odd. Mine has been there for a while now and reflects the original amount I requested (all funds), not taking into account subsequent repayments (same with many others who've posted on here). In your 'investments waiting to be released' section, what does the 'amount' say? That part has been bugged for a week when all the 1 Year and 5 Year disappeared as happened to many others.
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
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Post by beagle on May 21, 2020 11:10:14 GMT
Mrs RR
Re: Complaint about Release Status Thank you for raising your concerns with RateSetter. We are sorry you had cause to complain. I understand you have recently contacted RateSetter advising you have requested to release your funds from RateSetter and the status for one of your release requests have changes from queueing to processing. Having investigated this with our Technical Support Team, I would like to apologise your account had experienced a technical system glitch. Unfortunately, in error our system had changed your status from queueing to processing although your funds are still in the queue awaiting to be processed and released. A fix has now been completed and the status has now reverted back to the queueing status. I can reassure you that your position in the release has not been impacted and your request remains registered. Given the above I have decided to uphold your complaint as the system and incorrectly changed your release status. Let me take this opportunity to apologise for any distress or inconvenience caused and to re-assure you that we take all complaints very seriously. We are always striving to improve our products and services and customer feedback is invaluable in helping us to do so. I can confirm that this letter constitutes our Final Response to your complaint. If you are still not happy, you have the right to refer your complaint to the Financial Ombudsman Service, free of charge (the ‘FOS’ at http://www.financial-ombudsman.org.uk) – but you must do so within six months of the date of this letter. If you do not refer your complaint in time, the Ombudsman will not have our permission to consider your complaint and so will only be able to do so in very limited circumstances. For example, if the Ombudsman believes that the delay was as a result of exceptional circumstances. If you would like to know about your right to refer a complaint to the FOS, you can click here to view their customer leaflet or you can request a hardcopy by replying to this e-mail. If you have any questions or would like to discuss the matter further, please do not hesitate to contact us on 0203 142 6226. Yours sincerely, <redacted> Complaints Handler Classic. Gotta love companies who "uphold a complaint" as a final response and then do sweet fa about it. What resolution do you look for? Did they not say sorry as soon as they knew. They accepted the fault per above... Are we really expecting compensation given the current situation. I'm not sure what else they can do, mistakes happen.
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chris1200
Member of DD Central
Posts: 827
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Post by chris1200 on May 21, 2020 11:14:12 GMT
That's odd. Mine has been there for a while now and reflects the original amount I requested (all funds), not taking into account subsequent repayments (same with many others who've posted on here). In your 'investments waiting to be released' section, what does the 'amount' say? That part has been bugged for a week when all the 1 Year and 5 Year disappeared as happened to many others. I'm not sure I entirely understand but, regardless, the 'pending release' amount should be the amount you originally requested in your RYI request(s). If you think you requested more than £7k then I guess you need to give RS a call and see what's up.
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Post by Badly Drawn Stickman on May 21, 2020 11:31:12 GMT
Whilst it is a wonderfully apt name for somebody with the perfect cover story.
Common decency should dictate you all remove it from your quotes, and arguably the original post. Simply Complaints Handler is enough. This is just somebody doing their job after all.
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Post by cinereus on May 21, 2020 11:36:52 GMT
Classic. Gotta love companies who "uphold a complaint" as a final response and then do sweet fa about it. What resolution do you look for? Did they not say sorry as soon as they knew. They accepted the fault per above... Are we really expecting compensation given the current situation. I'm not sure what else they can do, mistakes happen. Surely they should be doing something to prevent it happening again? So far we've had the incorrectly showing as processing. Then the mysteriously disappearing RYIs. While some people have been told not to process again, many others won't read this forum and could innocently jeopardise their RYIs by resubmitting. I've also had two other problems for about a month that RS have failed to acknowledge. RYIs being processed with incorrect amounts and RYIs not able to be processed. They have so far come back to me 4 times claiming "you are unable to request more release requests once a full or partial amount to the value has been requested" which is demonstrably irrelevant to the issue I was having. I'm not for a moment suggesting compo culture kicks in but when bugs and errors are causing people to lose their place in RYI queues they must surely be able to do more than just write back saying "upheld" with no actual action taken?
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
Likes: 322
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Post by beagle on May 21, 2020 11:53:12 GMT
Whilst it is a wonderfully apt name for somebody with the perfect cover story. Common decency should dictate you all remove it from your quotes, and arguably the original post. Simply Complaints Handler is enough. This is just somebody doing their job after all. Could not agree more, just a person doing their job and his name is posted. it's wrong. the person is probably at working from home, they may have kids running around. they are just doing their job
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
Likes: 322
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Post by beagle on May 21, 2020 11:57:27 GMT
What resolution do you look for? Did they not say sorry as soon as they knew. They accepted the fault per above... Are we really expecting compensation given the current situation. I'm not sure what else they can do, mistakes happen. Surely they should be doing something to prevent it happening again? So far we've had the incorrectly showing as processing. Then the mysteriously disappearing RYIs. While some people have been told not to process again, many others won't read this forum and could innocently jeopardise their RYIs by resubmitting. I've also had two other problems for about a month that RS have failed to acknowledge. RYIs being processed with incorrect amounts and RYIs not able to be processed. They have so far come back to me 4 times claiming "you are unable to request more release requests once a full or partial amount to the value has been requested" which is demonstrably irrelevant to the issue I was having. I'm not for a moment suggesting compo culture kicks in but when bugs and errors are causing people to lose their place in RYI queues they must surely be able to do more than just write back saying "upheld" with no actual action taken? you are right , many mistakes are happening I can't fault that. it seems their IT team is at home (maybe in the garden ) but im sure they did something about it as they confirmed the problem itself they just won't fill a complaint reply with how they fixed it. I can imagine their IT are at home though behind a laptop on a sofa it can't be easy. however RateSetter at a time when customer experience is utterly critical it does seem a few too many take place. when and if you get through this I hope you bolster your tech team for these things. it isnt fair on us your source of funds.
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Post by ruralres66 on May 21, 2020 12:31:50 GMT
Whilst it is a wonderfully apt name for somebody with the perfect cover story. Common decency should dictate you all remove it from your quotes, and arguably the original post. Simply Complaints Handler is enough. This is just somebody doing their job after all. Common decency should dictate you all remove it from your quotes, and arguably the original post. Simply Complaints Handler is enough.....
My mistake and not intended to cause any breach or offence. Thanks mods, ......but if RS make mistakes I cannot be chastised for doing same....
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Post by Badly Drawn Stickman on May 21, 2020 13:27:05 GMT
Whilst it is a wonderfully apt name for somebody with the perfect cover story. Common decency should dictate you all remove it from your quotes, and arguably the original post. Simply Complaints Handler is enough. This is just somebody doing their job after all. Common decency should dictate you all remove it from your quotes, and arguably the original post. Simply Complaints Handler is enough..... My mistake and not intended to cause any breach or offence. Thanks mods, ......but if RS make mistakes I cannot be chastised for doing same....
Not a chastisement by me, I get queasy standing on any kind of moral high ground. It was more somebody quoting the post with the name in to suggest you should remove it that seemed odd.
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Post by RateSetter on May 21, 2020 16:11:26 GMT
Good afternoon everyone. Today we have delivered £1.1m and the full update follows below:
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jcb208
Member of DD Central
Posts: 830
Likes: 618
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Post by jcb208 on May 21, 2020 17:02:51 GMT
Considering 1.1 million was returned today it has not made much of a dent in the release queue unless investors still have not reported RYI's here.Well done Ratesetter the returned money has not faltered like we thought and is pretty consistent
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chris1200
Member of DD Central
Posts: 827
Likes: 508
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Post by chris1200 on May 21, 2020 17:30:43 GMT
Considering 1.1 million was returned today it has not made much of a dent in the release queue unless investors still have not reported RYI's here.Well done Ratesetter the returned money has not faltered like we thought and is pretty consistent Clearly the vast majority of RYI requests are not reported here... It will have made exactly £1.1m of a dent in the release queue.
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
Likes: 322
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Post by beagle on May 21, 2020 17:33:14 GMT
well done guys. would be great to get 50 million by month end.
It's a valid point though. I imagine some large values blocking the pipes. Ratesetter can you at least suggest as to how much your peak dropped by after the 16th ?
I do think it fair you perhaps advise us what % of the way you are through each of these days? it might stop people asking you endlessly??? but it's great to see you keep going especially after the rate reduction stuff.
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Post by Badly Drawn Stickman on May 21, 2020 17:53:58 GMT
Considering 1.1 million was returned today it has not made much of a dent in the release queue unless investors still have not reported RYI's here.Well done Ratesetter the returned money has not faltered like we thought and is pretty consistent Clearly the vast majority of RYI requests are not reported here... It will have made exactly £1.1m of a dent in the release queue. Probably not enough, but we always knew it was at best a very basic guide. It would be a very impressive list if they were all recorded. I have to admit I am very impressed with the amounts being released, but there is obviously a bit of rounding going on. I do also wonder if the figures are the initial amounts requested as opposed to the 'as is' figures. Regardless the amounts are still well in excess of what I had anticipated.
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chris1200
Member of DD Central
Posts: 827
Likes: 508
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Post by chris1200 on May 21, 2020 17:57:04 GMT
Clearly the vast majority of RYI requests are not reported here... It will have made exactly £1.1m of a dent in the release queue. Probably not enough, but we always knew it was at best a very basic guide. It would be a very impressive list if they were all recorded. I have to admit I am very impressed with the amounts being released, but there is obviously a bit of rounding going on. I do also wonder if the figures are the initial amounts requested as opposed to the 'as is' figures. Regardless the amounts are still well in excess of what I had anticipated. Well, quite - this wasn't meant to diminish the work done here (obviously the idea of having all of them, or even close, is impossible) - just to express some incredulity that some might be misunderstanding that most (or even all?!) of the RYI requests are detailed on here. It would go someway to explain the consistent "can't believe how slowly it's moving" gripes, just because no-one on this forum has had a release for a few days... And a very interesting point on the initial/as-is figures!
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