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Post by RateSetter on Jan 5, 2021 18:00:25 GMT
Good afternoon all. This afternoon we published a RateSetter Notice about ISA transfers-in and opening new RateSetter ISA accounts. The text will be included in the monthly investor statements which are being emailed out this evening and is copied below for reference:
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c88dnf
Member of DD Central
Posts: 364 
Likes: 266
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Post by c88dnf on Jan 7, 2021 12:51:45 GMT
From which statement, unsupported by any explanation, I assume Ratesetter is simply reinforcing their recent implicit message: "Go away, small investors. We're now just another faceless entity reliant on corporate funding and couldn't care less about you."
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
Likes: 322
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Post by beagle on Jan 7, 2021 14:27:49 GMT
From which statement, unsupported by any explanation, I assume Ratesetter is simply reinforcing their recent implicit message: "Go away, small investors. We're now just another faceless entity reliant on corporate funding and couldn't care less about you." respectfully ( my opinion only) i think the above is a bit nonsense. Why would you want to open a new ISA in a company winding down their investment book. no one suggests they could not care less, however, they are owned by a bank and it has been known since the dotted lines were signed - metro will fund all. to be honest we are more trouble than it is worth. dealing with small investors means handling people like us daily on forums daily.
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c88dnf
Member of DD Central
Posts: 364
Likes: 266
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Post by c88dnf on Jan 7, 2021 14:44:54 GMT
From which statement, unsupported by any explanation, I assume Ratesetter is simply reinforcing their recent implicit message: "Go away, small investors. We're now just another faceless entity reliant on corporate funding and couldn't care less about you." respectfully ( my opinion only) i think the above is a bit nonsense. Why would you want to open a new ISA in a company winding down their investment book. no one suggests they could not care less, however, they are owned by a bank and it has been known since the dotted lines were signed - metro will fund all. to be honest we are more trouble than it is worth. dealing with small investors means handling people like us daily on forums daily. With equal respect, I think you might have forgotten the rationale for P2P existing in the first place. If we all accept we're "more trouble than it is worth", then we might as well lie down and get run over by large corporations in every field. I don't accept that's inevitable and reserve the right to make life as hard as possible for any company that tries that approach.
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beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
Likes: 322
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Post by beagle on Jan 7, 2021 14:54:24 GMT
respectfully ( my opinion only) i think the above is a bit nonsense. Why would you want to open a new ISA in a company winding down their investment book. no one suggests they could not care less, however, they are owned by a bank and it has been known since the dotted lines were signed - metro will fund all. to be honest we are more trouble than it is worth. dealing with small investors means handling people like us daily on forums daily. With equal respect, I think you might have forgotten the rationale for P2P existing in the first place. If we all accept we're "more trouble than it is worth", then we might as well lie down and get run over by large corporations in every field. I don't accept that's inevitable and reserve the right to make life as hard as possible for any company that tries that approach. ratesetter was forced into this due to financials. i am not sure it would be their first choice to be owned by another. i understand the rationale for p2p - a better deal for both parties - however, ratesetter is interested in surviving itself and it's staff which makes sense at the moment. you can reserve the right to make it hard for them - but you might have a stressful life trying to prevent capitalism evolve
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