maotw
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Post by maotw on Apr 2, 2020 14:35:46 GMT
Hope it's OK to use this board to record something - an email sent to AC today. I'd just like it in the public domain somewhere ...
I'm not inviting replies, but it may be of interest to others if they've suffered a similar issue.
I accept that its an act of purest optimism to believe the issue I have with chronology will ever have any significance. I'll post again if they see their error.
*****************
Dawn,
Further to my last, please see the screenshot below – taken on the 12th, showing idle funds off.
The chronology (and proof that it’s my account) of this screenshot can be verified by the total QAA balance, and the value of my direct investments, and the pence just about showing from my total invested. I also have the chat transcripts from the same time (as I’m sure you do).
As I said in the email from my iPhone, I won’t let this go; but I do acknowledge that it’s of low importance just now, but I want it fixed before the queue becomes (if it ever does) chronological again.
If you continue to say its the 19th, my next request will be for the logs of my account, suitably certified as genuine by a senior office at Assetz.
Regards
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Mikeme
Member of DD Central
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Post by Mikeme on Apr 2, 2020 14:39:49 GMT
If you turned off invest idle funds off on the 12th then it was too late.
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maotw
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Post by maotw on Apr 2, 2020 14:43:15 GMT
The issue is that I entered the queue (should have) timestamped on the 12th, and not the 19th as they have done. This was verified at length (ad nauseam!) during a chat - that I have the transcript of.
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dead-money
Rocket to the Moon
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Post by dead-money on Apr 2, 2020 20:40:39 GMT
There is no longer a 'queue' all withdrawals whether issued on 12th / 19th March or later are now in a 'pool' created on 20th March.
Each and every Access Account gets the same slice of each release of funds hence forth until AC changes the house rules again...
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ian
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Post by ian on Apr 2, 2020 20:58:17 GMT
I’m afraid the system is totally inequitable and imho will lead to the sites demise as larger lenders will be forced to take legal action to ensure they are not the only ones left with defaulted loans.
It’s absolutely galling matches loans to you QAAs then applies an arbitrary repayment of sat £50 to everyone when the same loan is redeemed.
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maotw
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Post by maotw on Apr 14, 2020 13:25:34 GMT
Latest from AC if anyone curious.
They've already admitted in an email that I'd turned-off "invest idle" on the 12th, so I can't fathom what further "data" is required.
They've previously said (in a chat, so recorded) that the queue (pool) didn't exist before the 19th, yet I have other withdrawals in it dated 14th.
Stinks of them thinking I'll go-away if they keep trying the fob-off ....... "Key staff" .... "Various Sections" .... what a load of cobblers.
***************
Dear xxxxxx
Compliant regarding: the timestamped withdrawal for turning off the Idle Funds should be on the 12th not the 19th March.
Further to our email on the 7th April 2020; this is to advise you of the progress made since receipt of your complaint.
I am still investigating your complaint. Some of the data needed to formulate a final response has been received but there is still further data needed from some of the key staff within various sections of our business who need to provide feedback.
I apologise for the delay in getting back to you and thank you for your patience.
In the event of my being unable to conclude matters within the next four weeks, I will then write to you again, to let you know what action you can take if you are dissatisfied with progress of the resolution to your complaint.
Yours sincerely.
<removed by mod>
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cb25
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Post by cb25 on Apr 14, 2020 13:30:58 GMT
maotw I don't think you should be giving the full name of AC's member of staff. They have a right to privacy and - I would imagine - expected to divulge it only to you.
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maotw
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Post by maotw on Apr 14, 2020 13:44:12 GMT
maotw I don't think you should be giving the full name of AC's member of staff. They have a right to privacy and - I would imagine - expected to divulge it only to you. I accept that - but only to a point. The individual who sent the email has a public domain profile at Linkedin that names him/her and their role at AC.
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Post by Harland Kearney on Apr 14, 2020 13:51:57 GMT
Yes, it is the same for me my QAA swept funds were turned off less than 20 minutes after the site lockdown on the 13th.
My queue postion is identical to yours, the 19th.
Keep us posted on what happens, as of right now it makes no diffrence and I think it be the same in 4 weeks time reguarding the queue. Best of luck!
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maotw
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Post by maotw on Apr 14, 2020 14:03:25 GMT
Yes, it is the same for me my QAA swept funds were turned off less than 20 minutes after the site lockdown on the 13th. My queue postion is identical to yours, the 19th. Keep us posted on what happens, as of right now it makes no diffrence and I think it be the same in 4 weeks time reguarding the queue. Best of luck! Thanks - and yes, getting to a point of it "making a difference" would be a good sign, perhaps water to wine after that. I guess its you, me and many more .... I think the "4 week" timescale from AC is simply setting the diary date for when I'll be told to FO. But they have boxed themselves into a corner, and the only solution will be to set the correct date, or apologise for the spin & BS they dispensed to me in emails and chat. I really don't want to knock them, but they've gotta play like grown-ups.
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Post by Undecided on Apr 14, 2020 20:35:36 GMT
Latest from AC if anyone curious. They've already admitted in an email that I'd turned-off "invest idle" on the 12th, so I can't fathom what further "data" is required. They've previously said (in a chat, so recorded) that the queue (pool) didn't exist before the 19th, yet I have other withdrawals in it dated 14th. Stinks of them thinking I'll go-away if they keep trying the fob-off ....... "Key staff" .... "Various Sections" .... what a load of cobblers.
*************** Dear xxxxxx Compliant regarding: the timestamped withdrawal for turning off the Idle Funds should be on the 12th not the 19th March. Further to our email on the 7th April 2020; this is to advise you of the progress made since receipt of your complaint. I am still investigating your complaint. Some of the data needed to formulate a final response has been received but there is still further data needed from some of the key staff within various sections of our business who need to provide feedback. I apologise for the delay in getting back to you and thank you for your patience. In the event of my being unable to conclude matters within the next four weeks, I will then write to you again, to let you know what action you can take if you are dissatisfied with progress of the resolution to your complaint. Yours sincerely. <removed by mod> I received almost exactly the same response to my complaint.
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maotw
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Post by maotw on Apr 17, 2020 12:41:00 GMT
I got confirmation that my withdrawal request shown as of the 19th would be changed back to the 14th when normal market conditions return: The following is a record of your online chat. General Info Chat start time Fri, 17 Apr 2020 12:58:18 +0100 GMT Chat end time Fri, 17 Apr 2020 13:08:55 +0100 GMT Duration (actual chatting time) 00:10:37 Operator ****** Chat Transcript Info: Thank you for choosing to chat with us. An agent will be with you shortly. Info: You are now chatting with ******. *****: Hello, how may I assist you? Paul: Hi, I had £nnnn in QAA via direct investment and just over £nnnn in QAA via swept cash balance. I turned both off on the 14th but the swept cash shows a queued date of 19th. I assumed this would eventually be sorted but it is still showing the 19th. Will this be corrected at some point? ******: Hi Paul, like all funds in the QAA (direct or swept), they're in the pro rata pooled queue. The funds would have entered the queue on the 19th, however, how long it will take for them to be released is now completely dependant on new funds coming in and borrowers repaying (or the market conditions changing again). This update page has been updated today if you would like to review our current status :https://www.assetzcapital.co.uk/blog/access-accounts-update Paul: I understand that. When normal market conditions return, will my swept cash withdrawal be corrected to be queued as of 14th? *****: Yes, that is correct. In the fullness of time, as the situation stabilises and liquidity is restored, we intend to switch back to processing the queue in the order in which withdrawal requests were made. At that time, requests will be fulfilled in the order specified by the queue, with amounts not already received during the pro-rata period being paid before moving on to the next request in the queue. We cannot give an indication of when this will happen at this stage as it depends on a degree of balance being restored between withdrawal requests and funds becoming available to service them. We will continue to update this FAQ with new information when we have it. Paul: That’s great. Many thanks. Sounds great - but are you sure they're saying (explicitly) what you think they're saying?
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maotw
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Post by maotw on Apr 17, 2020 16:20:20 GMT
Perhaps, but it'd be "kinda-neat" if they did the good thing and corrected all the timestamps for unsweeping and direct withdrawals.
Or they come on here and explain why (if it's the case) timestamps don't matter.
They've now released the withdrawals from the 12th that were reversed .... are they gonna move onto the withdrawals on the 12th that were given the "it glitch" BS - i.e. those actioned before they announced the lock-out?
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Post by Harland Kearney on Apr 18, 2020 20:48:16 GMT
Perhaps, but it'd be "kinda-neat" if they did the good thing and corrected all the timestamps for unsweeping and direct withdrawals. Or they come on here and explain why (if it's the case) timestamps don't matter. They've now released the withdrawals from the 12th that were reversed .... are they gonna move onto the withdrawals on the 12th that were given the "it glitch" BS - i.e. those actioned before they announced the lock-out? We'll see, I will send a email too if they return to the standard queue system, as I was within the first few minutes of the lockout turning off idle invest for my funds.
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tonyr
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Post by tonyr on Apr 23, 2020 8:29:28 GMT
Perhaps, but it'd be "kinda-neat" if they did the good thing and corrected all the timestamps for unsweeping and direct withdrawals. Or they come on here and explain why (if it's the case) timestamps don't matter. They've now released the withdrawals from the 12th that were reversed .... are they gonna move onto the withdrawals on the 12th that were given the "it glitch" BS - i.e. those actioned before they announced the lock-out? I'm hoping so. To be seen as fair you can't act retrospectically, and AC need to be seen as fair in order to survive.
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