Mikeme
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Post by Mikeme on Jun 1, 2020 12:32:59 GMT
We are missing an important thing about this pandemic and the forecast of 100's of thousands deaths. Even if we don't get a second wave this will move through the world causing that number of deaths unless a vaccine is found vast numbers will pass away. ! The lock downs worldwide are to only SLOW DOWN the spread. Hopefully there will be treatments that reduce the severity and mortality rate.
As an analogy a smouldering fire is easier to control as is used when fires are lit in forests to clear the undergrowth.
So the point of my comment is that this pandemic is going to cause economic upheaval for a long time and those at the lower end of the economic scale will be worse affected. Someone else wrote in P2P recently that loss of interest but keeping the majority of of our capital would be a good outcome.
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blender
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Post by blender on Jun 1, 2020 13:19:52 GMT
Rather off topic, especially on the first of the month. How about making some virus-free threads? Overheard discussion: A. "Well it's first of June and I suppose we should throw a few bones to the 'access' lenders" B. "Oh is it? Do we really have to? can't we just forget or say that we need the cash, or something?" C. " We must give them something, or they might withdraw their money". All: Ha, ha, ha !!! 
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rscal
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Post by rscal on Jun 1, 2020 13:27:54 GMT
The interest payments on my Access Accounts paid out on 1 May @ 18.46 last month, so we'll hopefully see something later today
Edit: I asked AC via Livechat me: Will the Access Accounts (e.g. 90DAA) be paying any interest for May 2020, as there are no interest payments showing on my account? AC: yes they will. Its just not guaranteed to be paid first thing on the 1st of each month. It should be paid at some point today
Don't forget a new month means another quarter payment of the 'Spring 19' cashback [due around 8th I think]
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picnicman
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Post by picnicman on Jun 1, 2020 13:42:32 GMT
The interest payments on my Access Accounts paid out on 1 May @ 18.46 last month, so we'll hopefully see something later today
Edit: I asked AC via Livechat me: Will the Access Accounts (e.g. 90DAA) be paying any interest for May 2020, as there are no interest payments showing on my account? AC: yes they will. Its just not guaranteed to be paid first thing on the 1st of each month. It should be paid at some point today
Don't forget a new month means another quarter payment of the 'Spring 19' cashback [due around 8th I think] - due 9th June and 9th July - assume will be paid on these dates - for what it is worth, my accrued interest on the dashboard as at 31/5 was the equivalent of 4.2% of my total holding in AA. It was 3.75% for most of the month and then jumped up on Saturday 30th. Who knows - we will find out shortly   Cheers P
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p2ploser
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Post by p2ploser on Jun 1, 2020 14:29:55 GMT
We are missing an important thing about this pandemic and the forecast of 100's of thousands deaths. Even if we don't get a second wave this will move through the world causing that number of deaths unless a vaccine is found vast numbers will pass away. ! The lock downs worldwide are to only SLOW DOWN the spread. Hopefully there will be treatments that reduce the severity and mortality rate. As an analogy a smouldering fire is easier to control as is used when fires are lit in forests to clear the undergrowth. So the point of my comment is that this pandemic is going to cause economic upheaval for a long time and those at the lower end of the economic scale will be worse affected. Someone else wrote in P2P recently that loss of interest but keeping the majority of of our capital would be a good outcome. I read a very relevant post on Facebook that said just because the lockdown is easing doesn’t mean that the pandemic is over just that they now have room for you in the ICU. Worth think big about in what we do from here. Anyway back to the subject of this thread. I wonder if AC have issues as still no interest payments in mla since Thursday and also my outstanding fees button still shows zero!
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dead-money
Rocket to the Moon
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Post by dead-money on Jun 1, 2020 14:31:57 GMT
Annoyingly "Accured interest" on Access accounts now showing as Zero, as is "Interest paid this month so far" , so May is now somewhere in the Ether, neither paid nor accured.
Will now have to remember to record accured interest at the end of each month on each account, so there's a record of what's due.
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ceejay
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Post by ceejay on Jun 1, 2020 14:37:17 GMT
Email received - apparently we will be getting 4.1% for QAA and 4.4% for 30DAA/90DAA for May (to be paid today).
But the target rates are being reduced to 3.75/4.0/4.1 for the time being...
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blender
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Post by blender on Jun 1, 2020 14:49:52 GMT
Yes, changes to the target rates seem logical because the accounts are still open to new investment. But what about the names of the accounts - which are a tad misleading? The 30D and 90D accounts now mean that the access times are not 30 days and 90 days, but 30 days and 90 days longer than quick access, which itself has an access time of greater than 90 days. How can you offer a 'quick access account' which for the foreseeable future is not going to provide quick access, by any reasonable definition. Unless you sell at a discount - and where is that facility please?
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Post by hornetbrad on Jun 1, 2020 15:33:20 GMT
Interest now in there
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jlend
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Post by jlend on Jun 1, 2020 15:57:06 GMT
Worth bearing in mind the Unallocated cash in the PFs for each of the access accounts has reduced over the last three updates for a number of reasons. These are the figures that AC have to provide as per the regulations.
There are separate figures for allocated cash but not for all 3 quarters.
Whether or not any extra interest on the 90DAA is worth the risk is difficult to judge right now. Monthly updates from AC would be very useful right now rather than the quarterly updates.
QAA
End Oct 2019 1.16m
End Jan 2020 0.71m
End April 2020 0.4m
30DAA
End Oct 2019 1.3m
End Jan 2020 0.85m
End April 2020 0.47m
90DAA
End Oct 2019 0.49m
End Jan 2020 0.23m
End April 2020 0.11m
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benaj
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Post by benaj on Jun 1, 2020 16:08:33 GMT
Interest Paid @ 01/06/2020, 15:30
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alender
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Post by alender on Jun 1, 2020 16:11:57 GMT
Email received - apparently we will be getting 4.1% for QAA and 4.4% for 30DAA/90DAA for May (to be paid today). But the target rates are being reduced to 3.75/4.0/4.1 for the time being... Can someone remind me what the old target rates were? QAA 4.1% 30D 5.1% 90D 5.75%
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Post by closetotheedge on Jun 1, 2020 16:25:45 GMT
Email received - apparently we will be getting 4.1% for QAA and 4.4% for 30DAA/90DAA for May (to be paid today). But the target rates are being reduced to 3.75/4.0/4.1 for the time being... I admin 5 family accounts and all were 3.75% although money is held in 30DAA and 90DAA. Did I read the email wrong I thought it said 4.1% and 4.4%.
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Post by closetotheedge on Jun 1, 2020 16:31:50 GMT
Email received - apparently we will be getting 4.1% for QAA and 4.4% for 30DAA/90DAA for May (to be paid today). But the target rates are being reduced to 3.75/4.0/4.1 for the time being... I admin 5 family accounts and all were 3.75% although money is held in 30DAA and 90DAA. Did I read the email wrong I thought it said 4.1% and 4.4%. Sorry ignore me. It was my hopeless schoolboy maths. Was as they said in the email. Somehow I worked it out wrong every time. 10 weeks of living inside watching endless netflix has done for me.
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p2pfan
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Full-Time Investor
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Post by p2pfan on Jun 1, 2020 20:14:33 GMT
Yes, changes to the target rates seem logical because the accounts are still open to new investment. But what about the names of the accounts - which are a tad misleading? The 30D and 90D accounts now mean that the access times are not 30 days and 90 days, but 30 days and 90 days longer than quick access, which itself has an access time of greater than 90 days. How can you offer a 'quick access account' which for the foreseeable future is not going to provide quick access, by any reasonable definition. Unless you sell at a discount - and where is that facility please? Yes, the names are not just a tad but highly misleading. I'm surprised that while AC have the time and energy to give lenders a kick in the teeth almost every fortnight over the last few months they haven't gotten around to renaming the accounts. I suggest: QAA = 1,460 Day (4 Year) Access Account 30DAA = 1,490 Day Access Account 90DAA = YBDBYESYMNAA (You'll Be Dead Before You Ever See Your Money Non-Access Account)
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Cheers P
