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Post by Harland Kearney on Aug 31, 2020 23:44:11 GMT
... Remember, only 2% of investors have set a discount higher than 0%, so the report said on the p2p news. This is why I feel the interest payment will make a significant impact tomorrow. Although if it didn't reach 6% I'd not be surprised, expect at least to dip to 6.5% ... A tell you nothing highly irrelevant bit of PR. 2% of investors sounds reassuringly low but what matters more is the weight of money and if those 2% happen to be the larger investors based on money invested then, well .... Yes of course, that is why I will cash out down to acceptble exposure reguardless of the extent tommorrow. I'm setup just incase things take a interesting turn!
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IFISAcava
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Post by IFISAcava on Sept 1, 2020 4:28:06 GMT
Thoughts for tommorrow guys, what do we think the interest payment will drop discounts too? I've got some money discounted in the 6-4% range. Hope to sell a little, will be holding some investments in AC to term (or well forever as part of my portfilio) but desperately want to reduce exposure before any locks ins occur. Am I the only one who feels uncomfortable due to the unknown next "horse running" annoucement that might come out from them? Hopefully around 6%, depends how much of the £700k interest payment is re-invested or auto re-invested.
What time do the interest payments usually get credited? 9am?
One of my accounts erroneously was still set to reinvest interest - reinvested at 7.6% discount.
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lobster
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Post by lobster on Sept 1, 2020 6:08:18 GMT
Hopefully around 6%, depends how much of the £700k interest payment is re-invested or auto re-invested.
What time do the interest payments usually get credited? 9am?
One of my accounts erroneously was still set to reinvest interest - reinvested at 7.6% discount. I don't know if all the month end processing has completed yet (mine has) but right now as at 7am the discounts are as follows : To buy £1,000 , 7.6% is best rate. To sell £1,000 , 8.23% is best rate. Basically about the same as last night, it seems.
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garfield
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Post by garfield on Sept 1, 2020 6:58:00 GMT
It looks to me like all the interest transactions were done at 0%, regardless of requested discount. On one of my accounts, an instruction was added at 7.16am for <0.01. Something hasn't quite worked methinks! Thus the SM remaining unchanged.
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Post by Ton ⓉⓞⓃ on Sept 1, 2020 7:07:23 GMT
... Remember, only 2% of investors have set a discount higher than 0%, so the report said on the p2p news. This is why I feel the interest payment will make a significant impact tomorrow. Although if it didn't reach 6% I'd not be surprised, expect at least to dip to 6.5% ... A tell you nothing highly irrelevant bit of PR. 2% of investors sounds reassuringly low but what matters more is the weight of money and if those 2% happen to be the larger investors based on money invested then, well ....
For a little more clarity.
(Sic with US spellings.)
Article date 28/8/20
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Post by Ton ⓉⓞⓃ on Sept 1, 2020 7:10:49 GMT
It looks to me like all the interest transactions were done at 0%, regardless of requested discount. On one of my accounts, an instruction was added at 7.16am for <0.01. Something hasn't quite worked methinks! Thus the SM remaining unchanged.
I went into the system of each of my accounts and set them all to buy at around 7.9-7.5%
I can see that I have two that say "Complete - awaiting transfer" both at 7.9%
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savernake
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Post by savernake on Sept 1, 2020 7:32:39 GMT
It looks to me like all the interest transactions were done at 0%, regardless of requested discount. On one of my accounts, an instruction was added at 7.16am for <0.01. Something hasn't quite worked methinks! Thus the SM remaining unchanged.
The discount rate is still the same as it was last night! The monthly interest run doesn't appear to have had any impact at all. Surely this can't be right?
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Post by Ton ⓉⓞⓃ on Sept 1, 2020 7:34:48 GMT
I can see that the QAA has gone from £67mm last night to £68mm this morn. Potentially just £1 could've caused that tho', but on the 23/8/20 it was £66mm
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garfield
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Post by garfield on Sept 1, 2020 7:43:30 GMT
It looks as if it's being done in 2 phases: 1) add the interest to the account it pertains to 2) set up invest instructions via the SM: all timed at 7.16am
So it may all just work out! I'm successfully re-investing at 8%, yes even that <0.01p!
I'm leaving well alone for now!! 
Edit: <0.01p is for a few days interest on £1.14.
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Post by bradley02 on Sept 1, 2020 7:44:44 GMT
Off topic apologies. Does everyone's interest payments look correct this morning ?
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mogish
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Post by mogish on Sept 1, 2020 7:49:07 GMT
18k holding. £71 recieved.
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Post by bradley02 on Sept 1, 2020 8:03:48 GMT
On the 90 day accounts my understanding was 4.1% was to be paid FROM 1st September not 1st August . My interest has been paid at 4.1%
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Post by drphil on Sept 1, 2020 8:11:25 GMT
Hopefully around 6%, depends how much of the £700k interest payment is re-invested or auto re-invested.
What time do the interest payments usually get credited? 9am?
Same here. 
But, of course, could be an opportunity to make a little bit if the discount rate drops significantly
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Post by bradley02 on Sept 1, 2020 8:30:56 GMT
On the 90 day accounts my understanding was 4.1% was to be paid FROM 1st September not 1st August . My interest has been paid at 4.1% From chat... m sure we did give notice of this but would have to find the email. The rate on the account is just a target and what you may receive can be lower. Have I got this wrong, I thought 90 days notice was given on 1st June as required in the 90 day t and cs
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iann
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Post by iann on Sept 1, 2020 9:23:08 GMT
On the 90 day accounts my understanding was 4.1% was to be paid FROM 1st September not 1st August . My interest has been paid at 4.1% From chat... m sure we did give notice of this but would have to find the email. The rate on the account is just a target and what you may receive can be lower. Have I got this wrong, I thought 90 days notice was given on 1st June as required in the 90 day t and cs I also find it strange it is exactly 4.10% for August, either that has been topped up or it's moved to 4.10% early. The time of the deposits (4am ish), suggests a level of automation compared to the recent months.
Apparently an email is due to go out at some point this week.
One of the problems is that the marketing department is the one responsible for these sort of emails which, I think, can get in the way of effective communication.
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