warn
Member of DD Central
Curmudgeon
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Post by warn on Jan 20, 2021 14:17:02 GMT
Live chat agent confirmed: np more cash recycling 'Yes, there have been some minor updates and bug fixes applied to the platform in recent days and this is one of them.' Following on from that, I contacted AC via Livechat:
me: I see from a posting by another investor on the P2P Independent Forum that ‘some minor updates and bug fixes’ have been applied to the platform recently. Can you confirm that one intended consequence of those changes is that it is now impossible to invest in (say) the 30DAA account whilst there are withdrawals pending (within their 30day notice period but NOT showing on the Marketplace). Such investments were allowed last week, but are not allowed this week.
AC: The Lender Team have not been advised that this was included in the updates and fixes so I will raise with the Developers now for their confirmation for you
Your posted that while I was still polishing my rant :-) OK, bug vs policy has now shifted, I hope, to 60/40. And breathe...
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cb25
Posts: 3,528
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Post by cb25 on Jan 20, 2021 14:27:22 GMT
Following on from that, I contacted AC via Livechat:
me: I see from a posting by another investor on the P2P Independent Forum that ‘some minor updates and bug fixes’ have been applied to the platform recently. Can you confirm that one intended consequence of those changes is that it is now impossible to invest in (say) the 30DAA account whilst there are withdrawals pending (within their 30day notice period but NOT showing on the Marketplace). Such investments were allowed last week, but are not allowed this week.
AC: The Lender Team have not been advised that this was included in the updates and fixes so I will raise with the Developers now for their confirmation for you
Your posted that while I was still polishing my rant :-) OK, bug vs policy has now shifted, I hope, to 60/40. And breathe... I've just emailed AC proof (transaction logs etc.) that I was able to Invest last week with withdrawals pending (but not complete) but can't now. Will update when I hear back
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Post by giammy on Jan 22, 2021 10:12:41 GMT
same here, can't invest in 90DD even even if in the 90DD I have no withdrawal requests that have completed the 90d notice
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cb25
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Post by cb25 on Jan 27, 2021 14:34:32 GMT
Having received no response from AC to my email of 20 Jan asking if the change to 30DAA/90DAA accounts was deliberate, I chased it up via Livechat:
me: A week ago, I had a Livechat conversation with XXX. I asked if the change to the 30DAA and 90DAA accounts – where you can no longer Invest when there are Withdrawals still in their notice period (and NOT on the Marketplace) – was deliberate. XXX said they’d raise a ticket, I guess to the tech guys. How long should it take to get an answer to what is essentially a Yes/No question?
AC: Hi xxx, it was certainly deliberate and was just a hotfix on something that investors should not have been able to do in the first place - Invest at the same time at withdrawing
me: Why, given the Access Accounts always allowed that?
AC: well it may have done so pre-discount but since the discount system has been implemented it was not suppose to have allowed it.
me: How was this change communicated to Lenders (it's not just me who noticed it)?
AC: it's not something that needed to communicate as it was a fix to something that should not have been possible
me: Where is the write-up of these rules, given the Withdrawals in question are NOT on the Marketplace, just going through their notice period?
AC: I'm not sure that's something we have provided to investors and would be something I would need to approach over departments for. Only a few investors were investing at the same time as withdrawing as it was counter-intuitive to what the initial system was released to do.
me: Not sure I agree with that, but no point arguing with AC as to what their system should/shouldn't do. Would have been nice if AC had responded to my week old question and follow-up email without me having to chase it.
AC: No problem apologies for the delay with that xxx
me: OK, I'll leave it there. Thanks for your help
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jan 27, 2021 14:47:06 GMT
Slightly off piste but another one of these unannounced hot fixes, I assume, is to the MLIA dashboard display.
Whereas before it showed total cumulative investment in the account both invested in loans and awaiting, now total investment just represents funds in loans.
Its an annoying change as far as I operate my account but probably of little relevance to others
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
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Post by dave4 on Jan 27, 2021 16:30:41 GMT
Thanks cb25 for your investigation.
Hmm
Buy rate now at 1% up from 0.49 yesterday (AC 's its all good have some more interest info may have done this), my withdraw request at 0.6 and 0.7 for sub £100 being ignored over the last 5 days.
I wonder if there will be a rush for the new lending at AC by many existing lenders when they restart lending?.
Or will it be fresh new blood that AC have there eye on??.
I have always been a supporter of AC, and i firmly believe the platform WILL survive.
Question. Would you at what ££ reward recommend to a good friend?
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cb25
Posts: 3,528
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Post by cb25 on Jan 27, 2021 16:59:58 GMT
Thanks cb25 for your investigation. Hmm Buy rate now at 1% up from 0.49 yesterday (AC 's its all good have some more interest info may have done this), my withdraw request at 0.6 and 0.7 for sub £100 being ignored over the last 5 days. I wonder if there will be a rush for the new lending at AC by many existing lenders when they restart lending?. Or will it be fresh new blood that AC have there eye on??. I have always been a supporter of AC, and i firmly believe the platform WILL survive.
Question. Would you at what ££ reward recommend to a good friend? Wrt to 0.7% being ignored for the last 5 days, that's odd, as I created a Withdrawal request at 0.7% discount yesterday (26 Jan) at 23.00 and sold most of it by 12.20 today (when I decided to cancel the request)
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
Posts: 1,056
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Post by dave4 on Jan 27, 2021 17:11:18 GMT
Its still live and showing no takers?? as i type 17.09pm. Obvious my money isn't good enough for some.  |
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
Posts: 1,056
Likes: 617
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Post by dave4 on Jan 27, 2021 17:18:28 GMT
... I wonder if there will be a rush for the new lending at AC by many existing lenders when they restart lending?. Or will it be fresh new blood that AC have there eye on??. I have always been a supporter of AC, and i firmly believe the platform WILL survive. ...Count me in. I’m setting aside cash for that very moment. I’ve also diarised: March 2022: Pile into the first new-lending loan on AC. Also have a little ££ waiting , tho ill have a read through the info first and a good think before spending my pocket money. May even reinvest my QA funds 
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dead-money
Rocket to the Moon
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Post by dead-money on Jan 27, 2021 19:31:33 GMT
Live chat agent confirmed: np more cash recycling 'Yes, there have been some minor updates and bug fixes applied to the platform in recent days and this is one of them.' My recycling Access pot will have to migrate from 30D/90D to QAA, and instead of just investing Cash into QAA and transferring it into a notice account, it'll be (i) cancel QAA withdrawal request, (ii) invest into QAA, (iii) re-enable QAA withdrawal request. All while running notice accounts down to zrro. I'll lose 0.25% interest and gain hassle, AC will lose some stability of funding and a lot of my goodwill. FT for a game of soldiers. I know where this April's ISA will be going.
The arrogance of AC never ceases to amaze ! Dressing up material functional changes as bug fixes.
The 'Access accounts' remain highly illiquid yet, I received a marketing email in the form of a 'Savings calculator' so the fallacy of them being akin to 'bank accounts' continues.
Yep, FT game of soldiers, I'm off too buy Gamestop and Tesla positions...
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
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Post by ilmoro on Jan 27, 2021 21:00:35 GMT
Minor?? Without warning?My recycling Access pot will have to migrate from 30D/90D to QAA, and instead of just investing Cash into QAA and transferring it into a notice account, it'll be (i) cancel QAA withdrawal request, (ii) invest into QAA, (iii) re-enable QAA withdrawal request. All while running notice accounts down to zrro. I'll lose 0.25% interest and gain hassle, AC will lose some stability of funding and a lot of my goodwill. FT for a game of soldiers. I know where this April's ISA will be going.
The arrogance of AC never ceases to amaze ! Dressing up material functional changes as bug fixes.
The 'Access accounts' remain highly illiquid yet, I received a marketing email in the form of a 'Savings calculator' so the fallacy of them being akin to 'bank accounts' continues. I might be wrong but if it's the one I received it was from Assetz Exchange so unrelated to the AA. That's said the point about P2P in any way being promoted as savings is a valid one.
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dead-money
Rocket to the Moon
Posts: 746
Likes: 654
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Post by dead-money on Jan 27, 2021 21:13:18 GMT
Ah, yes, you're right, that's Assetz Exchange, with something even less akin to a bank account.  |
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ian
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Post by ian on Jan 27, 2021 21:15:30 GMT
One word - TRUST - completely gone with this shower. They make the rules up as they go along.
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Post by Harland Kearney on Jan 27, 2021 21:44:36 GMT
I have been re-investing income and repayments (those outside the AA's) for the past few months, I cannot now of course. I expect the rate to not shoot up, but also not move downwards anymore. Who is going to be buying in now? In reaility not many people ever were buying at these levels, just repayments chewing up discounts. However this isn't entirely bad as it releases investors who have no postion for AC. This is going to become harder now and rates will increase as a result of demand. (why else sell at discount)
How does a bug go on since the start of the accounts? This was most certainly intended in my eyes.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
Likes: 11,549
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Post by ilmoro on Jan 27, 2021 22:22:00 GMT
I have been re-investing income and repayments (those outside the AA's) for the past few months, I cannot now of course. I expect the rate to not shoot up, but also not move downwards anymore. Who is going to be buying in now? In reaility not many people ever were buying at these levels, just repayments chewing up discounts. However this isn't entirely bad as it releases investors who have no postion for AC. This is going to become harder now and rates will increase as a result of demand. (why else sell at discount) How does a bug go on since the start of the accounts? This was most certainly intended in my eyes.Perhaps chris , stuartassetzcapital would like to comment? It does seem a ill though out 'bug' fix. One consequence will be that in normal conditions those lenders who like to manage their liquidity in the notice accounts by operating a system of scheduled withdrawals will no longer be able to add additional funds to the accounts. These little tweaks are reducing the functionality of the platform from my perspective. HK nothing preventing you from reinvesting income/repayments you just have to make a choice, in or out, I suspect in most cases the decision will be out currently which seems to be the wrong result for AC.
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