marky
Posts: 21
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Post by marky on Mar 24, 2020 11:16:20 GMT
Hi,
My wife and I just moved £10,000 (each) from a cash ISA into an Assetz Capital IFISA and, interestingly, at the EXACT moment we invested our £10,000 (from Assetz Capital IFISA Cash Account into an ISA 90DAA) - we were repaid £1 into our QAA that has been queued for days ....
I then invested my wife's £10,000 (in the same way) and that triggered another £1 payment ....... payments timed 11:07 and 11:09.
So, in the absence of any transparency of how big the queue is (to withdraw cash) .... it looks like I've just discovered it (by accident) ..... and for all of you that received a £1 (at 11:07 and 11:09) .... you've got my wife and I to thank!
Looks like it's going to be a long wait to get the rest of the money out of the QAA account!
GLA
Marky
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Post by scepticalinvestor on Mar 24, 2020 11:20:47 GMT
Hi, My wife and I just moved £10,000 (each) from a cash ISA into an Assetz Capital IFISA and, interestingly, at the EXACT moment we invested our £10,000 (from Assetz Capital IFISA Cash Account into an ISA 90DAA) - we were repaid £1 into our QAA that has been queued for days .... I then invested my wife's £10,000 (in the same way) and that triggered another £1 payment ....... payments timed 11:07 and 11:09. So, in the absence of any transparency of how big the queue is (to withdraw cash) .... it looks like I've just discovered it (by accident) ..... and for all of you that received a £1 (at 11:07 and 11:09) .... you've got my wife and I to thank! Looks like it's going to be a long wait to get the rest of the money out of the QAA account! GLA Marky
That is fascinating, to say the least! Thanks for sharing.
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alender
Member of DD Central
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Post by alender on Mar 24, 2020 11:28:19 GMT
Hi, My wife and I just moved £10,000 (each) from a cash ISA into an Assetz Capital IFISA and, interestingly, at the EXACT moment we invested our £10,000 (from Assetz Capital IFISA Cash Account into an ISA 90DAA) - we were repaid £1 into our QAA that has been queued for days .... I then invested my wife's £10,000 (in the same way) and that triggered another £1 payment ....... payments timed 11:07 and 11:09. So, in the absence of any transparency of how big the queue is (to withdraw cash) .... it looks like I've just discovered it (by accident) ..... and for all of you that received a £1 (at 11:07 and 11:09) .... you've got my wife and I to thank! Looks like it's going to be a long wait to get the rest of the money out of the QAA account! GLA Marky Just logged on to check my account, no money added, there is either a delay or a queue within a queue (or is that a pool).
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Post by Ace on Mar 24, 2020 11:45:27 GMT
Hi, My wife and I just moved £10,000 (each) from a cash ISA into an Assetz Capital IFISA and, interestingly, at the EXACT moment we invested our £10,000 (from Assetz Capital IFISA Cash Account into an ISA 90DAA) - we were repaid £1 into our QAA that has been queued for days .... I then invested my wife's £10,000 (in the same way) and that triggered another £1 payment ....... payments timed 11:07 and 11:09. So, in the absence of any transparency of how big the queue is (to withdraw cash) .... it looks like I've just discovered it (by accident) ..... and for all of you that received a £1 (at 11:07 and 11:09) .... you've got my wife and I to thank! Looks like it's going to be a long wait to get the rest of the money out of the QAA account! GLA Marky Thanks marky, Any chance you could deposit another £170,000,000 please? 😄
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
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Post by dave4 on Mar 24, 2020 12:07:30 GMT
Got my £2 just gone 11am,thank you
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agent69
Member of DD Central
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Post by agent69 on Mar 24, 2020 12:11:32 GMT
Hi, My wife and I just moved £10,000 (each) from a cash ISA into an Assetz Capital IFISA and, interestingly, at the EXACT moment we invested our £10,000 (from Assetz Capital IFISA Cash Account into an ISA 90DAA) - we were repaid £1 into our QAA that has been queued for days .... I then invested my wife's £10,000 (in the same way) and that triggered another £1 payment ....... payments timed 11:07 and 11:09. So, in the absence of any transparency of how big the queue is (to withdraw cash) .... it looks like I've just discovered it (by accident) ..... and for all of you that received a £1 (at 11:07 and 11:09) .... you've got my wife and I to thank! Looks like it's going to be a long wait to get the rest of the money out of the QAA account! GLA Marky Why?
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agent69
Member of DD Central
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Post by agent69 on Mar 24, 2020 12:14:51 GMT
Hi, My wife and I just moved £10,000 (each) from a cash ISA into an Assetz Capital IFISA and, interestingly, at the EXACT moment we invested our £10,000 (from Assetz Capital IFISA Cash Account into an ISA 90DAA) - we were repaid £1 into our QAA that has been queued for days .... I then invested my wife's £10,000 (in the same way) and that triggered another £1 payment ....... payments timed 11:07 and 11:09. So, in the absence of any transparency of how big the queue is (to withdraw cash) .... it looks like I've just discovered it (by accident) ..... and for all of you that received a £1 (at 11:07 and 11:09) .... you've got my wife and I to thank! Looks like it's going to be a long wait to get the rest of the money out of the QAA account! GLA Marky Your calculations are flawed and based on a lack of understanding of how of AC liquidity will be improved through loan repaymenrs as well as addotional investor funds. Your 10,000 in the queue calculation s less than useless, all you are achieving in your ' back on a cigerette packet' calculations is to probably cause additional worry to others who also do not fully understand how the business works and possibly put more strain on investors and the company at this wider crisis time. If you find yourself with spare time, maybe as a result of isolation, educate yourself as to how the investment vehicle of your chouce , Assetz Capital, works. This will have two benefits. One you will gain knowledge that you can then use maybe in part to reassure yourself and others, and two, there will be one less ill-informed, doom monger spreading nonsense about Assetz Capital who, in my informed opinion, are handling a matter not of there making, in a professional pro-active manner. If you are so much more knowledgeable than everyone else, perhaps you would like to tell us what the true figure is?
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marky
Posts: 21
Likes: 60
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Post by marky on Mar 24, 2020 12:27:05 GMT
Hi, My wife and I just moved £10,000 (each) from a cash ISA into an Assetz Capital IFISA and, interestingly, at the EXACT moment we invested our £10,000 (from Assetz Capital IFISA Cash Account into an ISA 90DAA) - we were repaid £1 into our QAA that has been queued for days .... I then invested my wife's £10,000 (in the same way) and that triggered another £1 payment ....... payments timed 11:07 and 11:09. So, in the absence of any transparency of how big the queue is (to withdraw cash) .... it looks like I've just discovered it (by accident) ..... and for all of you that received a £1 (at 11:07 and 11:09) .... you've got my wife and I to thank! Looks like it's going to be a long wait to get the rest of the money out of the QAA account! GLA Marky Why? I started the process of moving some money from my cash ISA to Assetz Capital IFISA whilst we were still in normal market conditions and by the time we were in "lock down" ..... the transfer had already been executed and the cheque was on it's way to Assetz Capital. So .... given I won't need the ISA money for a while ..... I decided to proceed with the investment ... and was surprised that I had triggered a cash payment from my QAA as a result! Marky
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Post by gravitykillz on Mar 24, 2020 12:27:12 GMT
Your calculations are flawed and based on a lack of understanding of how of AC liquidity will be improved through loan repaymenrs as well as addotional investor funds. Your 10,000 in the queue calculation s less than useless, all you are achieving in your ' back on a cigerette packet' calculations is to probably cause additional worry to others who also do not fully understand how the business works and possibly put more strain on investors and the company at this wider crisis time. If you find yourself with spare time, maybe as a result of isolation, educate yourself as to how the investment vehicle of your chouce , Assetz Capital, works. This will have two benefits. One you will gain knowledge that you can then use maybe in part to reassure yourself and others, and two, there will be one less ill-informed, doom monger spreading nonsense about Assetz Capital who, in my informed opinion, are handling a matter not of there making, in a professional pro-active manner. If you are so much more knowledgeable than everyone else, perhaps you would like to tell us what the true figure is? 0.12p
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bg
Member of DD Central
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Post by bg on Mar 24, 2020 12:30:15 GMT
Yesterday #1168 repaid £298k, #957 repaid £248k and #848 repaid £906k.
These repayments did not spark a one for one payment out to investors, Access account cash balance has increased to £5.8m from close to £2m a week ago.
From that I would deduce its not an automated algorithm driving repayments to investors but a manual decision that takes into account deposits, repayments and future funding requirements of dev loans.
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marky
Posts: 21
Likes: 60
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Post by marky on Mar 24, 2020 12:30:32 GMT
Hi, My wife and I just moved £10,000 (each) from a cash ISA into an Assetz Capital IFISA and, interestingly, at the EXACT moment we invested our £10,000 (from Assetz Capital IFISA Cash Account into an ISA 90DAA) - we were repaid £1 into our QAA that has been queued for days .... I then invested my wife's £10,000 (in the same way) and that triggered another £1 payment ....... payments timed 11:07 and 11:09. So, in the absence of any transparency of how big the queue is (to withdraw cash) .... it looks like I've just discovered it (by accident) ..... and for all of you that received a £1 (at 11:07 and 11:09) .... you've got my wife and I to thank! Looks like it's going to be a long wait to get the rest of the money out of the QAA account! GLA Marky Your calculations are flawed and based on a lack of understanding of how of AC liquidity will be improved through loan repaymenrs as well as addotional investor funds. Your 10,000 in the queue calculation s less than useless, all you are achieving in your ' back on a cigerette packet' calculations is to probably cause additional worry to others who also do not fully understand how the business works and possibly put more strain on investors and the company at this wider crisis time. If you find yourself with spare time, maybe as a result of isolation, educate yourself as to how the investment vehicle of your chouce , Assetz Capital, works. This will have two benefits. One you will gain knowledge that you can then use maybe in part to reassure yourself and others, and two, there will be one less ill-informed, doom monger spreading nonsense about Assetz Capital who, in my informed opinion, are handling a matter not of there making, in a professional pro-active manner. Well ...... I simply posted absolute fact of what happened when I invested £10,000 x 2 at 11:07 and 11:09 ... in that it triggered £1 repayments into mine ..... and other lenders ..... Cash accounts. The purpose of my post was not to scare .... but to inform ... other lenders that - based on my experience - for every £10,000 invested would trigger a £1 return for everyone queued. There may well be some clever algorithm that figures out who gets paid what ...... but with the 11:07 and 11:09 repayments being triggered ....... it looks like "my fag packet" has more real world content than your verbal abuse.
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alibaba
Member of DD Central
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Post by alibaba on Mar 24, 2020 12:41:12 GMT
If I may make a suggestion, whatever the true state of play is, can we please treat each other with a little respect and understanding, and not let this site deteriorate into yet another polarised forum which will make me and many others think twice about posting and eventually choosing not to visit this site.
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Post by davee39 on Mar 24, 2020 12:44:15 GMT
My £1 payments came at 10.18 & 10.38.
The repayments appear to be made in batches.
It is impossible to estimate withdrawal rate or queue size
I am monitoring the loan holdings in my QAA, free cash was about 2% after the payout last Fri, now 2.7%.
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Clearly people will disagree during this national meltdown. Many of us are very stressed and worried about both health and finances.
The one thing we can do is remain polite and respectful however much we disagree.
Keep Safe
Dave
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Post by Harland Kearney on Mar 24, 2020 12:46:29 GMT
I don't think cash being paid in is being 100% allocated to the que. The calculation is flawed and without any actual evidence.
AC from their responses and this system, is putting the ability to draw down new loans above that of lenders exiting during these abnormal conditions. Which makes sense, we are only selling out what people are buying in (hense this post)
Repayment of massive loans should be used to fund new loans, secure lender interest, top up the PF & ofc pay AC. I don't believe it should be used in mass to repay lenders at this time, but AC clearly have a reason for this that isn't worth everybody having a fight about.
I agree with Mark, its getting annoying now a little bit on this forum. Allow AC to do their job, it is hardly surprising that withdrawals may take a long time in hard market conditions, when the avg loan lifetime is 1-5 years
Are people on this site even aware of the type of investments they are making...
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alanh
Posts: 556
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Post by alanh on Mar 24, 2020 12:48:15 GMT
At this rate it will take a lot of investors a lot longer than 2 years to get their money out. The facts of the matter are that whilst companies such as Ratesetter are returning anything up to a million pounds PER DAY to investors and being open and truthful about what they are doing, Assetz have decided to say nothing nothing and pay out dribs and drabs of a pound here and there with a £49 payment a few days ago. They are operating a totally hopeless and flawed system and the longer it goes on the little remaining trust in the platform will totally evaporate.
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