johnt
Investing in Ratesetter, Zopa and Assetz Capital since 2013
Posts: 127
Likes: 71
|
Post by johnt on Dec 21, 2020 23:38:57 GMT
I made a withdrawal yesterday (Sunday) evening and usually I would expect to see it hit my bank account around 4pm the next day but it's nearly midnight and I still haven't received it. Don't suppose anyone else is in a similar position?
|
|
ceejay
Posts: 971 
Likes: 1,149
|
Post by ceejay on Dec 21, 2020 23:44:11 GMT
I expect they're busy!
|
|
johnt
Investing in Ratesetter, Zopa and Assetz Capital since 2013
Posts: 127
Likes: 71
|
Post by johnt on Dec 21, 2020 23:48:59 GMT
Surely a withdrawal is an automated process.
|
|
|
|
Post by Deleted on Dec 22, 2020 7:39:29 GMT
A withdrawal I made a few days ago took until about 11pm to arrive but it did arrive. Has yours arrived now (next morning)?
There have been several delays for me in the past, at least one of which I got compensation for.
|
|
johnt
Investing in Ratesetter, Zopa and Assetz Capital since 2013
Posts: 127
Likes: 71
|
Post by johnt on Dec 22, 2020 8:16:12 GMT
A withdrawal I made a few days ago took until about 11pm to arrive but it did arrive. Has yours arrived now (next morning)? There have been several delays for me in the past, at least one of which I got compensation for. Nope still not received. I'll give them a call later
|
|
johnt
Investing in Ratesetter, Zopa and Assetz Capital since 2013
Posts: 127
Likes: 71
|
Post by johnt on Dec 22, 2020 10:01:08 GMT
Apparently the number of withdrawals made over the weekend has broken their systems. Withdrawals should be processed today but no promises.
|
|
|
|
Post by Deleted on Dec 22, 2020 10:57:43 GMT
Apparently the number of withdrawals made over the weekend has broken their systems. Withdrawals should be processed today but no promises. Thanks for the update. Maybe I'll hold off initiating another withdrawal for now.
|
|
coogaruk
Hello everyone! Anyone remember me?
Posts: 703
Likes: 463
|
Post by coogaruk on Dec 22, 2020 12:52:53 GMT
As I understand it RS withdrawals are 'next day' and as Sunday is not a bank working day would normally expect your request not to have been actioned until yesterday, with 'next day' being today when the funds should arrive in your bank account.
It may be helpful/reassuring to know that each time a withdrawal requst is made, on the final screen before confirmation (if I recall correctly) the RS system advises the date funds are expected to be credited to your bank.
Most if not all of the withdrawals I have made tend to credit my bank late afternoon/early evening at the latest.
It's also worth bearing in mind that banks' systems have their own quirks and glitches from time to time too. One example of this is when I make a transfer from my bank to NS&I it's usually credited there next day but when I do it on a Friday sometimes not till the following Tuesday.
|
|
|
|
Post by Deleted on Dec 22, 2020 14:07:02 GMT
RS withdrawals requested over the weekend are normally credited into your bank account on Monday, but that didn't happen this week obviously.
|
|
benaj
Member of DD Central
Posts: 4,858
Likes: 1,591
|
Post by benaj on Dec 22, 2020 14:18:16 GMT
It can hit our bank after 4pm via faster payment.
|
|
johnt
Investing in Ratesetter, Zopa and Assetz Capital since 2013
Posts: 127
Likes: 71
|
Post by johnt on Dec 22, 2020 16:52:21 GMT
Normally a withdrawal made Friday - Sunday would be credited to my bank account by 4pm Monday. It's now after 4pm on Tuesday so gave them another ring. They advised that all withdrawals are processed manually and the sheer volume of withdrawals made over the weekend has caused problems not just as a backlog but also caused other issues as well. They've advised that as far as they know, they've now caught up and to wait until tomorrow now and ring back in the morning if it hasn't arrived by then.
I'm gobsmacked that a company like Ratesetter manually processes withdrawals in this day of age. What kind of archaic infrastructure are they working on? Excel spreadsheets and VB databases?!
|
|
beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
Likes: 322
|
Post by beagle on Dec 22, 2020 18:27:52 GMT
Normally a withdrawal made Friday - Sunday would be credited to my bank account by 4pm Monday. It's now after 4pm on Tuesday so gave them another ring. They advised that all withdrawals are processed manually and the sheer volume of withdrawals made over the weekend has caused problems not just as a backlog but also caused other issues as well. They've advised that as far as they know, they've now caught up and to wait until tomorrow now and ring back in the morning if it hasn't arrived by then. I'm gobsmacked that a company like Ratesetter manually processes withdrawals in this day of age. What kind of archaic infrastructure are they working on? Excel spreadsheets and VB databases?! it depends on who processes them and how the data is transferred. ratesetter don't hold the funds but a third party. banks are always like this. I wouldnt be gobsmacked.
|
|
star dust
Member of DD Central
Posts: 2,998
Likes: 3,531
|
Post by star dust on Dec 22, 2020 21:22:27 GMT
Assume they've caught up with their payments by now as the withdrawal of my 85% RYI from yesterday evening was in my bank account by close of play today.
Unfortunately, RS still haven't released the remaining 15% of my RYI though which is still marked as 'pending' despite approximately £4m of RYI releases today 
|
|
|
|
Post by Deleted on Dec 23, 2020 8:21:04 GMT
Assume they've caught up with their payments by now as the withdrawal of my 85% RYI from yesterday evening was in my bank account by close of play today.
Unfortunately, RS still haven't released the remaining 15% of my RYI though which is still marked as 'pending' despite approximately £4m of RYI releases today I had a "stuck" RYI a while ago. After about 10 days I contacted them and they released it, so it's not the first time.
|
|
benaj
Member of DD Central
Posts: 4,858
Likes: 1,591
|
Post by benaj on Dec 23, 2020 8:27:47 GMT
Sorry to hear those who can’t get the money back in their bank accounts quickly.
Wait a minute, are we even talking the same thing. Cash available for withdrawal is not the same as pending RYI right?
My last ££££ withdrawal on the 17th Dec hit the bank on the 18th.
|
|
