£137 million of the loan book is looking to exit (AC)

Way back, when I got some money stuck in the GEA, I realised that the MLA was really the only way to go, precisely because you had the flexibility of discounting if you needed it. So I only used QAA/30 day for relatively small amounts of overflow cash. It was, and is, time consuming however.

Converting QA to MLA would be an option, though you'd be left with a lot of suspended/defaulted loans that would be no longer (theoretically) covered by the PF/cash buffer - I suspect the hope is that over time the PF/cash buffer will be replenished enough to cover these again.  

EDIT: And, as others point out, this would increase likelihood that development loans won't be funded and further reduce value of those remaining in QAA. 

You forgot to compound the 4.1% which is effectively 4.18% so your 3.17% becomes 3.25%
This is trivial but shows the confirmation bias that is rampant these days. 

('2p per £1000 per day' is another way to think about the charge)

I’ve got a double amount, £2.34 from 30-day and the same from 90-day. Using two access accounts turned to be beneficial   

The "investment banker" is wrong.
The 4.1% is the [target] gross annual interest rate. AC uses continuous compounding with monthly capitalisation.
£1,000 in the QAA last January have earned £3.488 which is £1,000 * (e^(4.1%/365 * 31) - 1)
Yes, it is very basic.

Edit: Crossed with chris

I wonder how big the exit queue is these days? Its now been a year since lenders were locked in to the "access" accounts and after all that time there is still no end in sight.  The queue is large enough for AC to have come up with the idea of "exit accounts" where they can get rid of these problem investors who would like their money returned to them, although this will take several more years and relies on the loans actually paying back.  Alternatively you can just remain in the "access" account forever reinvesting in new loans but without actually being able to get your money out.  Once again AC have come up with a way of keeping their gravy train going at the expense of lenders.

AC seem to have completely forgotten the point of P2P lending.  Lend money, and when it repays return the repayments to lenders.  Why not just do this?  Look at Ratesetter - they also had an exit queue in the hundreds of millions but each day for several months they returned repayments to investors and in the end the exit queue was cleared and the accounts were run down.  No-one lost any money and it was returned in an orderly and transparent fashion.

The access accounts are in run down and the sooner AC acknowledge this and just get on with giving lenders their money back the better.