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Post by gher56 on Mar 25, 2020 8:20:28 GMT
Hi there,
after noticing a delay in a withdrawal from Grupeer I asked them to know about it, they told me that they are having problems to get back money from their partners and because people are working from home, and they provided no ETA.
Did anybody else experience this?
Thanks
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benaj
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Post by benaj on Mar 25, 2020 8:27:18 GMT
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Post by castor on Mar 25, 2020 9:04:08 GMT
I ordered a withdrawal on March 17th.... It has not reached my account yet. I'm starting to get worried.
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Post by gher56 on Mar 25, 2020 9:12:20 GMT
I had read that update, but it does not mention delays. Before I also received the withdrawals quickly. I did not receive any email saying "we are having liquidity difficulties", on the contrary the marketing emails keep coming in. castor for me the biggest problem is that they are not being transparent, that is never a good sign.
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murphy
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Post by murphy on Mar 25, 2020 10:09:35 GMT
I logged in this morning and you get a warning that they are experiencing issues with withdrawals
Mainly because of the volume of withdrawal requests and lack of payments coming in from loan originators.
Unfortunately the message disappears after you login so i cannot remember it exactly. - it all points to liquidity issues.
To be honest i would be surprised if there are many p2p platforms out there who would withstand this environment if we
all go for the exit at once, transparent or not.
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Post by wiseclerk on Mar 25, 2020 12:55:21 GMT
Current overview (user reported) on several platforms if withdrawals are normal/delayed or stopped
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Post by castor on Mar 25, 2020 14:19:45 GMT
I logged in this morning and you get a warning... "Due to a higher amount of withdrawal requests and a delay in incoming payments from our partners due to the COVID-19 crisis, we are going through the withdrawal requests slower than usual. Our finance team is working from their home offices the same as all Grupeer team. Even though it slows down our daily operations, they still work on each withdrawal request at the moment, but due to the above-mentioned factors we can not say how fast this request can be fulfilled."
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Post by gher56 on Mar 25, 2020 18:15:48 GMT
I logged in this morning and you get a warning that they are experiencing issues with withdrawals Mainly because of the volume of withdrawal requests and lack of payments coming in from loan originators. Unfortunately the message disappears after you login so i cannot remember it exactly. - it all points to liquidity issues. To be honest i would be surprised if there are many p2p platforms out there who would withstand this environment if we all go for the exit at once, transparent or not. One thing is "we are processing a withdrawals backlog because we have less workers on it", another thing is the "lack of payments coming in from loan originators": if my account says I have an non-invested balance I expect Grupeer to have it already on my account (that's why they have the license to keep people's money on their behalf) and not outside of their control. If you do that in another business (declaring that you have X money in the bank while you don't) you can get jailed. The difference between the two is huge and I expect to know which is which if we have to put trust on the platform. As a side note: I am not panicking at all, I planned to move out funds last year in October, I was just waiting on the loans to be repaid. I suspect this current crisis is a very good thermometer to see who is being honest with the money and the liquidity.
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benaj
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Post by benaj on Mar 25, 2020 18:31:54 GMT
Remember there are 27524 Grupeer investors, processing that many bank transfers with new banking solutions may take time.
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Post by gher56 on Mar 27, 2020 7:53:13 GMT
Remember there are 27524 Grupeer investors, processing that many bank transfers with new banking solutions may take time. Are you in a hurry? I am not in a hurry. We are not discussing the speed, see my previous comment: p2pindependentforum.com/post/376187/thread
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Post by kenigmatic on Mar 27, 2020 13:16:33 GMT
Withdrawal delays are obviously caused by liquidity issues. I'm guessing this will all be resolved IF the world wakes up to the FLU SCAM with the next 3 weeks or so & we can all get back to business. If not, you can probably kiss your money bye bye.
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Nomad
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Post by Nomad on Mar 27, 2020 22:45:13 GMT
Various Euro P2P bloggers are writing some very negative comments about Grupeer and its future prospects...
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benaj
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Post by benaj on Mar 28, 2020 9:12:47 GMT
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Post by spaaps on Mar 28, 2020 21:48:13 GMT
I logged in this morning and you get a warning that they are experiencing issues with withdrawals Mainly because of the volume of withdrawal requests and lack of payments coming in from loan originators. Unfortunately the message disappears after you login so i cannot remember it exactly. - it all points to liquidity issues. To be honest i would be surprised if there are many p2p platforms out there who would withstand this environment if we all go for the exit at once, transparent or not. What exit? There is no option for early exit.
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murphy
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Post by murphy on Mar 30, 2020 12:38:35 GMT
I logged in this morning and you get a warning that they are experiencing issues with withdrawals Mainly because of the volume of withdrawal requests and lack of payments coming in from loan originators. Unfortunately the message disappears after you login so i cannot remember it exactly. - it all points to liquidity issues. To be honest i would be surprised if there are many p2p platforms out there who would withstand this environment if we all go for the exit at once, transparent or not. What exit? There is no option for early exit. My last remark was aimed at the p2p market in general, various platforms allow you so sell your positions, i.e individual loans. Some like Mintos and Bondora even have products that facilitate this automatically (in theory) - I was speculating on how the general market might perform if significant numbers did this. In the case of Grupeer it seems its enough for people to claim their outstanding balance which is not encouraging.
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