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Post by Ace on Aug 10, 2020 13:22:51 GMT
On reading the OP I wasn't sure whether the complaint was about the inhabiting to withdraw funds from a cash account at the moment, or whether it was the known issue of funds stuck in the access accounts. I now assume it is the latter as I have just received a 4 figure withdrawal from my cash account that I instructed on Friday.
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iRobot
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Post by iRobot on Aug 10, 2020 13:28:49 GMT
<snip> The point I am making is why should we as investors ACCEPT it? I have bills to pay, if you want to deliver some kind of upgrade then that is a matter for you. I want to say NO, go back to allowing people to withdraw cash in meaningful amounts and if you want to add a new feature on your platform do so without this disruption, it is simply not good enough. Look on the bright side. Once the Marketplace is in operation, you'll be able to use it to extract yourself from AC in totality and then wave goodbye and say good riddance to AC permanently. Who knows, that sentiment may even be reciprocated elsewhere.
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Aug 10, 2020 13:36:30 GMT
Instead of doing testing in the background on a test platform they have decided to do something on the live platform, the result being we can't withdraw meaningful sums of money. It might have been better to have said "website" rather than "platform". Everyone, including me, seems to have interpreted it as as being the performance of AC not problems with the site which are irritating but not as bad as losing money, as you would have in several other platforms.
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Mikeme
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Post by Mikeme on Aug 10, 2020 13:37:36 GMT
A bit like Trump if you tell yourself you're right you're right! Even in the face of facts everyone else is wrong and Covid doesn't count.
Having been a participant of previous threads that fell into name call, which I apologise unreservedly for. I stop now.
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Post by jasonnewman on Aug 10, 2020 13:39:55 GMT
Everyday AC receives payments from borrowers - this is your capital. Why does AC get to chose to withhold YOUR CAPITAL when you have an outstanding request you withdraw YOUR MONEY?
Not the type of behaviour you would expect from a professional financial company.
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chris1200
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Post by chris1200 on Aug 10, 2020 13:43:20 GMT
Oh my lord stop liking your own posts
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blender
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Post by blender on Aug 10, 2020 13:52:06 GMT
I think the complaint is valid - no capital distribution in August so far. This was supposed to be all fixed in 7th but will now take till 12th. They have apologised. I don't think this thread helps anyone, except perhaps the OP.
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iRobot
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Post by iRobot on Aug 10, 2020 13:54:20 GMT
<snip> The point I am making is why should we as investors ACCEPT it? I have bills to pay, if you want to deliver some kind of upgrade then that is a matter for you. <snip> There is a place for these types of post. If it highlights the lack of wisdom in relying on a high-risk illiquid investment such as P2P for income with which to pay bills, then at least that can be gained from them. (And yes that does cut both ways. Not only do investors need to be more aware of their decisions, but platforms and their regulator need to look at just how effective current risk warnings and other restrictive measures are when it comes to preventing such foolishness.)
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Greenwood2
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Post by Greenwood2 on Aug 10, 2020 13:55:43 GMT
Clearly not worse than Lendy, Collateral, Fundingsecure who have gone bust with heavy losses likely for investors. Probably better than Moneything who are in voluntary winddown and lenders are likely to take some significant losses on several loans Worse than Ratesetter who are slowly returning funds to investors but have just sold themselves to Metro for a song so clearly werent doing great? What about Zopa who have turned themselves into a bank? Or FundingCircle, can you get money out from them amongst all the defaults? How about LendingWorks who have shut the SM and ceased paying interest, or GrowthStreet who have declared a resolution event and therefore effectively sequestrated all investor loans into a common pool Is Octopus Choice worse as they have stopped people from getting out apart from via loan redemptions? Perhaps need to define your definition of 'worst' Edit Absolutely no objection to this post disappearing if the thread is killed What's wrong with that? Makes the Zopa brand stronger and they are continuing with the P2P side, so far so good (unlike RS that seem to be winding down P2P having been taken over by a bank).
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macq
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Post by macq on Aug 10, 2020 14:14:16 GMT
Oh my lord stop liking your own posts It will make you go blind? 
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dovap
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Post by dovap on Aug 10, 2020 14:18:25 GMT
<snip> The point I am making is why should we as investors ACCEPT it? I have bills to pay, if you want to deliver some kind of upgrade then that is a matter for you. I want to say NO, go back to allowing people to withdraw cash in meaningful amounts and if you want to add a new feature on your platform do so without this disruption, it is simply not good enough. Look on the bright side. Once the Marketplace is in operation, you'll be able to use it to extract yourself from AC in totality and then wave goodbye and say good riddance to AC permanently. Who knows, that sentiment may even be reciprocated elsewhere. unless you're lucky enough to hold some of those other zombie accounts I guess - now if they'd wrap that junk into this new market offering then there'd be even more bargains up for grabs.
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JamesFrance
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Port Grimaud 1974
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Post by JamesFrance on Aug 10, 2020 14:29:12 GMT
Look on the bright side. Once the Marketplace is in operation, you'll be able to use it to extract yourself from AC in totality and then wave goodbye and say good riddance to AC permanently. Who knows, that sentiment may even be reciprocated elsewhere. unless you're lucky enough to hold some of those other zombie accounts I guess - now if they'd wrap that junk into this new market offering then there'd be even more bargains up for grabs. I have been trying to exit from GBBA2 and Assetz platform since it was suddenly cancelled by AC. I have no trust in this company whatsoever.
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iRobot
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Post by iRobot on Aug 10, 2020 15:13:31 GMT
unless you're lucky enough to hold some of those other zombie accounts I guess - now if they'd wrap that junk into this new market offering then there'd be even more bargains up for grabs. I have been trying to exit from GBBA2 and Assetz platform since it was suddenly cancelled by AC. I have no trust in this company whatsoever. / JamesFrance - hear what you're saying, but ... The OP has previously stated they have their life savings in an access account and they just want it back. The Marketplace would afford them that opportunity. Yes, a discount is likely required but given the OP's often repeated forecasts of AC's imminent and disastrous demise, I'd wouldn't be surprised if the OP felt that a 5 or even 10% discount was good value. jasonnewman - will you be utilising the Marketplace when / if it launches on Wednesday?
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agent69
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Post by agent69 on Aug 10, 2020 16:11:47 GMT
Clearly not worse than Lendy, Collateral, Fundingsecure who have gone bust with heavy losses likely for investors. Probably better than Moneything who are in voluntary winddown and lenders are likely to take some significant losses on several loans Worse than Ratesetter who are slowly returning funds to investors but have just sold themselves to Metro for a song so clearly werent doing great? What about Zopa who have turned themselves into a bank? Or FundingCircle, can you get money out from them amongst all the defaults? How about LendingWorks who have shut the SM and ceased paying interest, or GrowthStreet who have declared a resolution event and therefore effectively sequestrated all investor loans into a common pool Is Octopus Choice worse as they have stopped people from getting out apart from via loan redemptions? Perhaps need to define your definition of 'worst' Edit Absolutely no objection to this post disappearing if the thread is killed Well, things were looking quite rosy this week:
- I've had a half price steak and chips in Weatherspoons (other eating establishments are available) today that wasn't dry and rubbery
- The forcast is for sunny weather for my golf tomorrow
- Wednesday is looking like a bumper day for AC with all the repayments that we have seen over the last week, and a chance to shift my remaining QAA holdings at a modest discount.
And then you had to remind me of all the other dross that I still own (appreciate you not mentioning TC)
TA very much, and hope you are looking forward to a happy Wednesday
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iRobot
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Post by iRobot on Aug 10, 2020 16:22:20 GMT
Well, things were looking quite rosy this week:
- I've had a half price steak and chips in Weatherspoons (other eating establishments are available) today that wasn't dry and rubbery
<snip>
How were the carpets? Whenever I've been forced into a 'Spoons the carpets tended to be stickier than the bbq'd ribs ...  Hopefully shutdown would have provided plenty of opportunity to get the shampooers in.
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