cb25
Posts: 3,528 
Likes: 2,668
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Post by cb25 on Mar 13, 2020 20:25:02 GMT
Yet AC are a fintech company (doesn't 'tech' stand for technology?) who take more than 2 working days to process a withdrawal to a designated bank account that's been used many times before and should have been validated when first designated. Unimpressive.
EDIT: We should evaluate AC (which I've got a lot of time for and money in) only on its own merits, ignoring any status assumed by the fact the British Business Bank invests in it, as the BBB also invested in FC and that doesn't look like its going to have a happy ending.
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Post by aidanw on Mar 13, 2020 22:08:29 GMT
mark your equities are marked to market. How do you know you haven't lost £1 with AC if you can't withdraw it?
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Post by Harland Kearney on Mar 13, 2020 22:22:08 GMT
As much as I support optimism and wish the best for AC, I would think they would have already coded a queing front panel figure, its a situation that is contigent and is a matter of "when" not "if". It will be over 100 hours most likely before the investors are even aware of the simple sell and buy discrepancy. I believe AC will come though this situation, but mainly because other areas to invest are under whelming, other than stocks & shares. Secondly because the Goverment propped up 15 Million pound.
Don't be so quick to praise a platform, even if we are all invested you must always keep your wits about you. Even if it may look anti-platform in the short run.
I lost 14% of my stock value in the recent run, the loss in stocks I am very pleased and I truely wish it falls further so I can buy more postions. (but not including todays rebound, but I'm sure that be crushed on Monday.) However the simple locking of access accounts should ring alarm bells which can only be answered with clear comm from the platform; as well as clear information about the platforms health.
As of right now, other than calculating the cash between access accounts (I believe ive seen the 1% figure thrown around here but somebody correct me if I'm wrong), we have no idea what the health of the access accounts are at. Infact this lack of information may very well cause a panic from investors, even when the real situation was only Minor; whilst AC's reaction was completely justfied in context, context which lenders are unaware.
I watch the following week of how AC handle the situation, which will depend if I will keep my funds invested, as well as my familys side of funds. Please becareful AC, thanks!
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alender
Member of DD Central
Posts: 981
Likes: 683
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Post by alender on Mar 14, 2020 9:11:49 GMT
mark your equities are marked to market. How do you know you haven't lost £1 with AC if you can't withdraw it? AC has gone from a Liquid investment to an Illiquid Investment, these by there nature are always less valuable. After all who would pay the same price for an investment where you can get your money out after a set term against another where it is locked in until some latter unknown time. I am also certain that the loan book value will go down the longer the financial crisis persist.
Hopefully AC will get through this quickly but I am not sure there are many people who would now invest with AC especially as there investment is locked and there are a lot of people who want to get out. Also the very high yields on shares are looking far more attractive than P2P, of course you can lose money on the capital value and dividends can fall but you will not be locked in and there are number of companies/trusts whose tangible assets are worth more (sometimes a lot more) than their capitalisation, the same cannot be said for AC.
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andy5
Posts: 40
Likes: 13
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Post by andy5 on Mar 19, 2020 22:26:39 GMT
Sorry to disagree, but the firm changed something a week ago, but didn't bother telling me. Tonight they sent an email that starts "As you may know ..." No, I didn't know, and now they have a request to explain why not.
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