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Post by davee39 on Mar 17, 2020 20:27:19 GMT
There may well be extra delay if people are making a withdrawal for the first time.
I get two emails following a withdrawal request, the first confirms the withdrawal request has bee made and is automatic. The second confirms the withdrawal has been processed.
There may be fewer checks on clients who have made regular withdrawals to a longstanding bank account.
Criminals will always be ready to exploit abnormal situations, better to wait than be defrauded.
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Post by Harland Kearney on Mar 17, 2020 20:37:41 GMT
There may well be extra delay if people are making a withdrawal for the first time. I get two emails following a withdrawal request, the first confirms the withdrawal request has bee made and is automatic. The second confirms the withdrawal has been processed. There may be fewer checks on clients who have made regular withdrawals to a longstanding bank account. Criminals will always be ready to exploit abnormal situations, better to wait than be defrauded. Entirely worth noting yes, I've made 10's of withdrawals and have seen no slow down in my processing. Hopefully those with delays will get them sent though asap, maybe AC dont' wanna have recent withdrawals also piling in requests to Support that theres has taken more than 24 hours ect. Entirely possible, although not entirely fair I understand if it were the case (COMPLETE SPECULATION)
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Post by englebert69 on Mar 17, 2020 21:56:52 GMT
Been with AC ages and still waiting for withdrawal from CA on 12/03 am to bank account used many times and support confirmed on list lunchtime today yet still no 2nd email or money. Hope it arrives tomorrow now! Only 250. Not impressed especially after quoting Monday morning for CA withdrawals.
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iren
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Post by iren on Mar 18, 2020 0:11:40 GMT
I am still waiting for the withdrawal I made in the early hours of Thursday. The same bank account has been linked to my Assetz account since inception several years ago, and I have made multiple withdrawals to it in recent months after deciding to run down my P2P exposure. The most charitable explanation from the available facts is incompetence at Assetz. However, as the situation continues, there will undoubtedly be speculation that the client account does not in fact contain the funds that it should and we are facing another Collateral situation.
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Post by Harland Kearney on Mar 18, 2020 0:37:29 GMT
I am still waiting for the withdrawal I made in the early hours of Thursday. The same bank account has been linked to my Assetz account since inception several years ago, and I have made multiple withdrawals to it in recent months after deciding to run down my P2P exposure. The most charitable explanation from the available facts is incompetence at Assetz. However, as the situation continues, there will undoubtedly be speculation that the client account does not in fact contain the funds that it should and we are facing another Collateral situation. Possibly, it could very well be a side effect of the QAA being locked, and no cash being able to get out into other liquid investments (in context of the access accounts only) If they open up the system on Thursday, they must be fully aware that cash outs will be rather high, but the only cash going to the cash account will be cash that truely exists due to the pro-rata pool system. We'll see how all this plays out. I do think that once the automatic pool system is in place, some investors will regain a bit of nerve and further investments will come into the site. My withdrawal I requested yesterday and was done today on time. I don't know why, it was a small figure however.
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Post by EJi on Mar 18, 2020 7:29:53 GMT
Can you shed any light on this.
People are still waiting for withdrawals from last week. Mine was made on Thursday 12th at 11.20am. Other people who have made withdrawals since then are receiving their money back.
Customer services are telling us that the funds will come later that day. The day comes and goes but no funds are sent.
Customer service don't seem to know what's going on so it's pointless telling us to contact them. Your FAQ said funds would come Monday morning but they didn't for some people.
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Post by stuartassetzcapital on Mar 18, 2020 7:48:32 GMT
All cash account withdrawals have been processed and paid out yesterday and will continue to be be so. All Access Account investments that were withdrawn to your Cash Account prior to last Thursday are also available for withdrawal or already sent to you if requested. Access Account investments requested to be withdrawn since then are in a queue.
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m2btj
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Post by m2btj on Mar 18, 2020 8:13:29 GMT
Thanks for the update stuartassetzcapital it is extremely helpful. I certainly hope that Assetz & other fintech firms will apply for all available government stimulus aid to ensure the long term future of the company & fintech sector. The coming months will be challenging for all. |
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Post by gothteteeshirt on Mar 18, 2020 8:25:25 GMT
It seems to me that when contributors stop posting they are still waiting for payment or a continuous thread of smiley emojis saying 'Got it' (think people need to think carefully over empathy for those who haven't received their outstanding payments) then I think we can safely say that all cash withdrawals are up to date and we then move onto the central issue of queueing. Its Wednesday and tomorrow was touted as D Day but I remain to be convinced that timescales have not slipped. Whilst great to see feedback from AC, I'm sure the wider AC investor community would probably be looking for reassuring updated statements on the the website news feed rather than trawling other news feed sources such as Forums, Trustpilot to interpret hopefully rationally the deluge of postings.
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dawn
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Post by dawn on Mar 18, 2020 8:27:00 GMT
All cash account withdrawals have been processed and paid out yesterday and will continue to be be so. All Access Account investments that were withdrawn to your Cash Account prior to last Thursday are also available for withdrawal or already sent to you if requested. Access Account investments requested to be withdrawn since then are in a queue. Just for clarity so I know - does money in an access account earn that accounts interest rate up to the point that it actually moves or up to the point that it was expected to move (in the past these have been the same thing but not now). I'm sure it is the former but just thought I'd check. For example I have a withdrawal pending from the 30 day access account to the MLA (where it normally gets swept in the QAA). I put in the withdrawal request 31 days ago so it should have come out yesterday (17th). It is in a queue for now and that isn't a problem for me, but will I get 5.1% just for the 30 days or will it be 5.1% for 31 or 32 or 33 days (etc) until the money actually moves? I expect it is the latter as I believe the interest is calculated on the amount actually in the account at specific times.
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Post by henders on Mar 18, 2020 8:37:43 GMT
All cash account withdrawals have been processed and paid out yesterday and will continue to be be so. All Access Account investments that were withdrawn to your Cash Account prior to last Thursday are also available for withdrawal or already sent to you if requested. Access Account investments requested to be withdrawn since then are in a queue. Stuart you say "All cash account withdrawals have been processed and paid out yesterday". I requested a withdrawal from my cash account early last Thursday. My dashboardad shows no money anywhere, yet my balance statement (in reports) shows the money sitting in my Cash Account. The withdrawal is still pending, so your statement doesn't appear to be correct. I get told daily the money is on its way. Can somebody please clarify the situation.
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victors
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Post by victors on Mar 18, 2020 8:41:51 GMT
I withdrew funds from my cash account last Thursday. The balance was reduced and the transaction shown as pending.
I've not received the money yet. Is it going to be paid or am I in a queue now?
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Post by stuartassetzcapital on Mar 18, 2020 8:49:31 GMT
I can only assume you had invested your cash account idle funds in the QAA. Hence the queue. If not then you need to escalate as all cash withdrawals are now processed I understand.
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Mikeme
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Post by Mikeme on Mar 18, 2020 9:03:12 GMT
All cash account withdrawals have been processed and paid out yesterday and will continue to be be so. All Access Account investments that were withdrawn to your Cash Account prior to last Thursday are also available for withdrawal or already sent to you if requested. Access Account investments requested to be withdrawn since then are in a queue. Stuart I did read the blog but obviously misunderstood. For ease of understanding can you confirm that money was taken out of the QAA put into the CA on Thursday morning has been put in the queue? What happens about the money that was already in my CA? I guess its just too complicated to separate the combined amounts. The sum shown in the AC account is reduced by the requested sum amount? Where is that money now? Is there somewhere that shows that it is in the queue? Any capital or interest received going forwards can be withdrawn immediately?
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Mikeme
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Post by Mikeme on Mar 18, 2020 9:10:52 GMT
I withdrew funds from my cash account last Thursday. The balance was reduced and the transaction shown as pending. I've not received the money yet. Is it going to be paid or am I in a queue now? Where does it show pending?
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