warn
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Post by warn on Jun 12, 2020 12:37:22 GMT
All proceeds from Loan Part Sales in my MLA are being sent to Cash Account, even though I have no withdrawal target set so am unable to cancel this behaviour. I've tried doing a withdrawal of £0.01, to see if it reset some internal back-end flag, but no luck; the penny transferred, but sales still go to cash. Repayments are correctly being reinvested as requested. Has anyone else experienced this, and have you any other tricks I can try? I'm getting really tired of logging in three or more times a day just to reinvest -- I'm in the middle of a re-balancing of my MLA holdings and there's a lot of buy/sell traffic. I should add that I raised this with Customer Services, who agreed it was "strange", and undertook to consult with IT and get back to me. That was over two weeks ago. chris , if you could possibly confirm this is on a list somewhere, at least I'll know it hasn't fallen through the cracks. Thanks. |
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IFISAcava
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Post by IFISAcava on Jun 12, 2020 14:14:19 GMT
All proceeds from Loan Part Sales in my MLA are being sent to Cash Account, even though I have no withdrawal target set so am unable to cancel this behaviour. I've tried doing a withdrawal of £0.01, to see if it reset some internal back-end flag, but no luck; the penny transferred, but sales still go to cash. Repayments are correctly being reinvested as requested. Has anyone else experienced this, and have you any other tricks I can try? I'm getting really tired of logging in three or more times a day just to reinvest -- I'm in the middle of a re-balancing of my MLA holdings and there's a lot of buy/sell traffic. I should add that I raised this with Customer Services, who agreed it was "strange", and undertook to consult with IT and get back to me. That was over two weeks ago. chris , if you could possibly confirm this is on a list somewhere, at least I'll know it hasn't fallen through the cracks. Thanks. can't you click on the "on repayment" option on the MLA account box? You can set to reinvest, or withdraw to another account. Mine is set to reinvest and so stays as cash in the MLA pending investment.
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Post by honda2ner on Jun 12, 2020 16:06:05 GMT
I've had the same issue for a while, I logged it on the beta problems list but it still happens.
I think the system remembers your repayment settings (which account to withdraw to) when you set up a sell order on a loan, that setting isn't overwritten when you later change the overall account repayment settings. This means I have a few loans that repay interest and capital to my holding account but any loans that I've made adjustments to now correctly repay back into my MLA.
I got in this mess because I set everything to withdraw to holding during the beta fiasco and set up sell orders on most loans. Then at a later date when I had drawn down enough I switched the MLA back to reinvest all back in the MLA, unfortunately the reinvest instruction only works on sell orders from that point, it doesn't backdate so older sell orders continue to go to the holding account.
You could try going into each individual loan sell order, cancel it and create it again, it's a faff but it might help.
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warn
Member of DD Central
Curmudgeon
Posts: 605
Likes: 632
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Post by warn on Jun 12, 2020 17:12:59 GMT
Thanks for the replies -- honda2ner's theory had be checking for a while, but that's not it (at least, not in my case). And I don't remember there ever having been an option to set either repayment or sales actions for individual loans, so surely it wouldn't make any sense to have the choice stored in the system for each individual loan (not that that necessarily rules out the possibility). My impression always was that the "On Repayment Reinvest" actions applied only to Principal and Interest repayments from the borrower, and that Sales proceeds stayed in the MLA as cash to fund Purchases, unless an as yet unfulfilled request has been made via the "Withdraw" (i.e. Transfer Funds) button. Isn't that how it's supposed to work? Please could chris or stuartassetzcapital give a clear explanation of the design (and check whether the implementation matches it)? |
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