adrian77
Member of DD Central
Posts: 3,895
Likes: 4,122
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Post by adrian77 on Apr 13, 2020 7:31:42 GMT
So between 9th and 17th over 6 thousand requests - be interesting to see what number we are at in a weeks time
As I said I would rather not but if need happy to wait a month or so if it means the platform stays afloat
I thank you
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Post by Deleted on Apr 13, 2020 9:16:43 GMT
So between 9th and 17th over 6 thousand requests - be interesting to see what number we are at in a weeks time As I said I would rather not but if need happy to wait a month or so if it means the platform stays afloat I thank you The 16th was the worst day apparently. The key is the average withdrawal amount. 6000 x 1000avg = 6 million 6000 x 5000avg = 30 million But could be more or less than these.
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Post by freefalljunkie on Apr 13, 2020 12:20:05 GMT
Mine to add into the mix:
16/03/20 1 pm 377672 Access 17/03/20 9pm 380560 Access 17/03/20 9pm 380855 1 yr 20/03/20 385162 pm Plus
Interesting that Ratesetter have been less than transparent about the size of the queue or the time it is likely to take, yet by giving us these reference numbers they have inadvertently let the cat out of the bag. I actually wouldn't mind the wait in itself if I was confident of getting my money back in full - I am much more concerned with the likelihood that Ratesetter is going to be simply swamped with loan defaults over the next couple of months and the provision fund is tiny in comparison. The silence from Ratesetter about the massively increased lending risk is deafening - that makes me seriously concerned.
It is obvious that Ratesetter reps read this forum and indeed post on it, so hear this. If you don't want investor confidence to collapse entirely thus threatening the viability of your business, you need start communicating openly about what you are doing to manage the hugely increased lending risk posed by the Coronavirus lockdown.
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alanh
Posts: 556
Likes: 560
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Post by alanh on Apr 13, 2020 13:37:24 GMT
Mine to add into the mix:
16/03/20 1 pm 377672 Access 17/03/20 9pm 380560 Access 17/03/20 9pm 380855 1 yr 20/03/20 385162 pm Plus
Interesting that Ratesetter have been less than transparent about the size of the queue or the time it is likely to take, yet by giving us these reference numbers they have inadvertently let the cat out of the bag. I actually wouldn't mind the wait in itself if I was confident of getting my money back in full - I am much more concerned with the likelihood that Ratesetter is going to be simply swamped with loan defaults over the next couple of months and the provision fund is tiny in comparison. The silence from Ratesetter about the massively increased lending risk is deafening - that makes me seriously concerned.
It is obvious that Ratesetter reps read this forum and indeed post on it, so hear this. If you don't want investor confidence to collapse entirely thus threatening the viability of your business, you need start communicating openly about what you are doing to manage the hugely increased lending risk posed by the Coronavirus lockdown. I think Ratesetters response to this crisis so far has been more or less faultless. They are sending out daily updates and weekly summaries to investors. They are returning millions of pounds per week to those investors looking to release their investments. They recently bolstered the provision fund cash level by over £4 million. Look at some of the other platforms on this board - hardly any communication at all, extra levels of fees introduced, virtually zero money returned to investors at all, shambolic decisions being made, reductions in investor transparency. The list goes on. As investors we will always want to get more information out of the platforms we are invested in than they are prepared to give out, but in comparison to the rest the data we are getting from RS is ahead by a country mile.
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sussexlender
Member of DD Central
Cheat seeking missile
Posts: 550
Likes: 916
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Post by sussexlender on Apr 13, 2020 14:15:56 GMT
I made 2 requests to withdraw from my Access account held in my Everyday account.
13.03.2020 number 375188 (missed off the last 8)
15.03.2020 number 376067.
I do feel that RS are showing the lead in keeping investors informed, at a very difficult time for all of us, when compared with the awful behaviour of some other P2P platforms.
Wishing all on the Independent Forum a healthy Easter. NHH
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Post by sebp on Apr 13, 2020 21:22:51 GMT
Hi - 1st post on this forum - and first of all thank you all for your contribution and hard work Here are my ref numbers (both from the 12/03): 373873 & 374479 Should now be ready soon - fingers crossed!
**** Edit **** Both are regarding access account
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Post by hovisloaf on Apr 14, 2020 1:32:24 GMT
Here's another to add to the list 19/03.
Ref # 382611 1 year market
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Post by mla on Apr 14, 2020 7:37:33 GMT
Access 19/03/2020 382694
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jane
Posts: 145
Likes: 214
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Post by jane on Apr 14, 2020 10:32:06 GMT
Mine to add into the mix:
16/03/20 1 pm 377672 Access 17/03/20 9pm 380560 Access 17/03/20 9pm 380855 1 yr 20/03/20 385162 pm Plus
Interesting that Ratesetter have been less than transparent about the size of the queue or the time it is likely to take, yet by giving us these reference numbers they have inadvertently let the cat out of the bag. I actually wouldn't mind the wait in itself if I was confident of getting my money back in full - I am much more concerned with the likelihood that Ratesetter is going to be simply swamped with loan defaults over the next couple of months and the provision fund is tiny in comparison. The silence from Ratesetter about the massively increased lending risk is deafening - that makes me seriously concerned.
It is obvious that Ratesetter reps read this forum and indeed post on it, so hear this. If you don't want investor confidence to collapse entirely thus threatening the viability of your business, you need start communicating openly about what you are doing to manage the hugely increased lending risk posed by the Coronavirus lockdown. Dear Freefall Junkie,
We are sorry that you feel that way about our communication.
The vast majority of our customers are still invested in Ratesetter whilst they wait for their investments to be released. As a freefall junkie I am sure you will be very pleased with the direction the provision fund takes in the coming months. When implementing Going Rates we promised that this would result in stable interest rates for our lenders and we have successfully cut the going rates several times to compensate you for additional risks you may for facing while investing with us during these difficult times. You will be glad to hear we have no plans to increase the going rate.
We have also implanted changes to our website, in record time, to allow you to cancel your RYI requests. We did this because of our love for customers, we just know how many of you were regretting your decisions, and not because we are desperate to keep as much money invested as possible. Who knows, this intervention alone may keep us solvent for a few extra weeks.
Past design decisions to make it incredibly difficult and confusing to set your own rates and to make all loans re-invest automatically are bearing fruit. So many of our customers are now having their repayments reinvested against their wishes and this increases the amount of funds invested!
You may have noticed difficulties in logging into the Ratesetter website recently. Do not worry, we can assure you that this essential work will ensure that, should the worse happen, administrators will be still be able to keep our website open so you can see what you have lost.
If you visit our homepage you will see a carefully selected sample of the positive reviews our customers have been leaving on Trustpilot recently (we can assure you that these are representative or the reviews being received, so no need to bother visiting Trustpilot directly).
Kind Regards Ratesetter
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adrian77
Member of DD Central
Posts: 3,895
Likes: 4,122
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Post by adrian77 on Apr 14, 2020 10:36:49 GMT
well that is reassuring I don't think!
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alanh
Posts: 556
Likes: 560
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Post by alanh on Apr 14, 2020 11:03:03 GMT
I would imagine that falsifying communications from Ratesetter is the sort of thing that people get sued for
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Post by james91 on Apr 14, 2020 11:29:02 GMT
I enjoy a joke - but not sure now is the right time. Many of us have a lot of money on the line, and for a second I thought that was a real post from Ratesetter.
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aju
Member of DD Central
Posts: 3,484
Likes: 917
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Post by aju on Apr 14, 2020 11:31:16 GMT
I would imagine that falsifying communications from Ratesetter is the sort of thing that people get sued for Isn't jane joking in a tongue in cheek ironic way. That's what I read it as!. No need to worry I'm not sure Ratesetter is actually looking at anything on here apart from their own broadcasts.
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aju
Member of DD Central
Posts: 3,484
Likes: 917
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Post by aju on Apr 14, 2020 11:35:05 GMT
I enjoy a joke - but not sure now is the right time. Many of us have a lot of money on the line, and for a second I thought that was a real post from Ratesetter. Me too, I'm still relending in RS if it's any consolation - damn fool I here you say but please don't tell Mrs Aju either - We are trying to pull out of Zopa though in quite a big way but sadly have been in their queue - assuming there is one of course - for nearly a month now since Mar 17th with not as much as a sniff yet. Relend is off so draw down is working but its very slow .... and it's been a long weekend but at least we are still alive - so far!
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Post by blueboy on Apr 14, 2020 11:43:32 GMT
Mine to add into the mix:
16/03/20 1 pm 377672 Access 17/03/20 9pm 380560 Access 17/03/20 9pm 380855 1 yr 20/03/20 385162 pm Plus
Interesting that Ratesetter have been less than transparent about the size of the queue or the time it is likely to take, yet by giving us these reference numbers they have inadvertently let the cat out of the bag. I actually wouldn't mind the wait in itself if I was confident of getting my money back in full - I am much more concerned with the likelihood that Ratesetter is going to be simply swamped with loan defaults over the next couple of months and the provision fund is tiny in comparison. The silence from Ratesetter about the massively increased lending risk is deafening - that makes me seriously concerned.
It is obvious that Ratesetter reps read this forum and indeed post on it, so hear this. If you don't want investor confidence to collapse entirely thus threatening the viability of your business, you need start communicating openly about what you are doing to manage the hugely increased lending risk posed by the Coronavirus lockdown. Dear Freefall Junkie,
We are sorry that you feel that way about our communication.
The vast majority of our customers are still invested in Ratesetter whilst they wait for their investments to be released. As a freefall junkie I am sure you will be very pleased with the direction the provision fund takes in the coming months. When implementing Going Rates we promised that this would result in stable interest rates for our lenders and we have successfully cut the going rates several times to compensate you for additional risks you may for facing while investing with us during these difficult times. You will be glad to hear we have no plans to increase the going rate.
We have also implanted changes to our website, in record time, to allow you to cancel your RYI requests. We did this because of our love for customers, we just know how many of you were regretting your decisions, and not because we are desperate to keep as much money invested as possible. Who knows, this intervention alone may keep us solvent for a few extra weeks.
Past design decisions to make it incredibly difficult and confusing to set your own rates and to make all loans re-invest automatically are bearing fruit. So many of our customers are now having their repayments reinvested against their wishes and this increases the amount of funds invested!
You may have noticed difficulties in logging into the Ratesetter website recently. Do not worry, we can assure you that this essential work will ensure that, should the worse happen, administrators will be still be able to keep our website open so you can see what you have lost.
If you visit our homepage you will see a carefully selected sample of the positive reviews our customers have been leaving on Trustpilot recently (we can assure you that these are representative or the reviews being received, so no need to bother visiting Trustpilot directly).
Kind Regards Ratesetter
🤣🤣🤣 This is hilarious. Yeah I know most us are in danger of losing money, but there’s not much we can do about it. May as well at least appreciate some gallows humour.
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