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 Feb 1, 2021 18:23:48 GMT
It's a change in behaviour since last month and from how the system has behaved since the secondary market was launched.
In the 'before' times any notice withdrawal would have been able to exit at zero discount straight to Cash account.
Sorry whats the basis for this statement? I cant see any change in behaviour. If you make a withdrawal request it still has the seem spiel about being able to withdraw to the QAA to take advantage of faster access via the market or direct the withdrawals to the cash account as usual
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dead-money
Rocket to the Moon
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Post by dead-money on Feb 1, 2021 18:24:42 GMT
It's a change in behaviour since last month and from how the system has behaved since the secondary market was launched.
In the 'before' times any notice withdrawal would have been able to exit at zero discount straight to Cash account.
Is this change/fix documented somewhere on the AC website? ROFLOL 
No, AC are as opaque and arrogant on system updates and 'bug fixes' as they are on everything else.
I've asked a number of times that a changelog be publicly available, but that request fell on deaf ears.
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dead-money
Rocket to the Moon
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Post by dead-money on Feb 1, 2021 18:28:48 GMT
It's a change in behaviour since last month and from how the system has behaved since the secondary market was launched.
In the 'before' times any notice withdrawal would have been able to exit at zero discount straight to Cash account.
Sorry whats the basis for this statement? I cant see any change in behaviour. If you make a withdrawal request it still has the seem spiel about being able to withdraw to the QAA to take advantage of faster access via the market or direct the withdrawals to the cash account as usual Previously if you made a withdrawal request on 30D it would serve it's notice, then you had to select whether it went to QAA, if you did nothing it stayed in the withdrawal queue to cash account at zero discount, it didn't automatically move to QAA.
Did you not see this behaviour previously? Do you have any pending or past due notice account withdrawals? Has anyone else seen this change in behaviour?
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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 Feb 1, 2021 18:33:20 GMT
It's a change in behaviour since last month and from how the system has behaved since the secondary market was launched.
In the 'before' times any notice withdrawal would have been able to exit at zero discount straight to Cash account.
Sorry whats the basis for this statement? I cant see any change in behaviour. If you make a withdrawal request it still has the seem spiel about being able to withdraw to the QAA to take advantage of faster access via the market or direct the withdrawals to the cash account as usual Yes, I have withdrawals and nothing has changed. Furthermore a withdrawal request still contains the following Funds awaiting withdrawal from the 90-Day Access Account at par (0% discount) will remain invested and earn interest at this account's rate of interest until a buyer for your investment is found, or you cancel your withdrawal.If anything else is happening then they are in breach of TCF & probably COBS rules as they are required to state rates & fees clearly. You cannot carry out an instruction that a customer has not given you. If the instruction is to withdraw to the cash account you cant withdraw to a different account without notifying the customer & giving them chance to agree
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dead-money
Rocket to the Moon
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Post by dead-money on Feb 1, 2021 18:48:55 GMT
So the 'bug fix' has introduced a bug of it's own, or is now causing a breach of the T&Cs 
Guess you'll find out in due course.
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Post by Ace on Feb 1, 2021 19:24:20 GMT
OK, so it seems the 'Bug Fix' has changed some other behaviour.
30D and 90D withdrawal requests which have served their notice period now automatically move to QAA.
So no more earning that extra .25% / .35% whilst waiting for your pennies to trickle through.
If I've understood you correctly, this isn't the case for my account. I have many withdrawal requests that have served their notice in the 30DAA and the 90DAA that are still earning the higher rate of interest.
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dead-money
Rocket to the Moon
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Post by dead-money on Feb 1, 2021 19:29:00 GMT
OK, so it seems the 'Bug Fix' has changed some other behaviour.
30D and 90D withdrawal requests which have served their notice period now automatically move to QAA.
So no more earning that extra .25% / .35% whilst waiting for your pennies to trickle through.
If I've understood you correctly, this isn't the case for my account. I have many withdrawal requests that have served their notice in the 30DAA and the 90DAA that are still earning the higher rate of interest. OK, did any of them reach the expiry of their notice period since the 'bug fix' (which was on or before 19th Jan)
I've had withdrawals complete their notice period today and move from 30D to QAA with no interaction from me.
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Post by Ace on Feb 1, 2021 19:34:27 GMT
If I've understood you correctly, this isn't the case for my account. I have many withdrawal requests that have served their notice in the 30DAA and the 90DAA that are still earning the higher rate of interest. OK, did any of them reach the expiry of their notice period since the 'bug fix' (which was on or before 19th Jan)
I've had withdrawals complete their notice period today and move from 30D to QAA with no interaction from me.
Ah, no, they all completed their notice periods before that date. Sorry if I misunderstood your point.
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jlend
Member of DD Central
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Post by jlend on Feb 1, 2021 20:00:47 GMT
Sorry whats the basis for this statement? I cant see any change in behaviour. If you make a withdrawal request it still has the seem spiel about being able to withdraw to the QAA to take advantage of faster access via the market or direct the withdrawals to the cash account as usual Yes, I have withdrawals and nothing has changed. Furthermore a withdrawal request still contains the following Funds awaiting withdrawal from the 90-Day Access Account at par (0% discount) will remain invested and earn interest at this account's rate of interest until a buyer for your investment is found, or you cancel your withdrawal.If anything else is happening then they are in breach of TCF & probably COBS rules as they are required to state rates & fees clearly. You cannot carry out an instruction that a customer has not given you. If the instruction is to withdraw to the cash account you cant withdraw to a different account without notifying the customer & giving them chance to agree Also from the access account market place blog that was updated with the secondary market description. This is the link at the the top of the AC home page. www.assetzcapital.co.uk/blog/access-accounts-updateIn the FAQs What interest rate will I receive on my 30DAA & 90DAA funds whilst they await release beyond the standard notice periods? (Updated: 12/08/20) Target interest rates remain capped at the currently advertised rate of the account you are seeking to withdraw from.
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Post by Harland Kearney on Feb 1, 2021 20:36:58 GMT
OK, so it seems the 'Bug Fix' has changed some other behaviour.
30D and 90D withdrawal requests which have served their notice period now automatically move to QAA.
So no more earning that extra .25% / .35% whilst waiting for your pennies to trickle through.
If I've understood you correctly, this isn't the case for my account. I have many withdrawal requests that have served their notice in the 30DAA and the 90DAA that are still earning the higher rate of interest. Similar to you Ace, I have a notice served thats still in the 90DAA and payouts getting though still whilst sitting in the 90DAA rate band. If they change this, I will exit at a "discount" for good.
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Post by chris on Feb 1, 2021 21:16:37 GMT
So the 'bug fix' has introduced a bug of it's own, or is now causing a breach of the T&Cs
Guess you'll find out in due course.
That's not expected behaviour, nor does it seem to be happening for others. If that is what has happened on your account please could you contact the help desk so that it's correctly recorded, investigated, and rectified if there is a bug.
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cb25
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Post by cb25 on Feb 3, 2021 17:34:07 GMT
OK, so it seems the 'Bug Fix' has changed some other behaviour.
30D and 90D withdrawal requests which have served their notice period now automatically move to QAA.
So no more earning that extra .25% / .35% whilst waiting for your pennies to trickle through.
I've just had a 30DAA withdrawal complete its notice period (at 17.25 today, 3 Feb) and it's still in the 30DAA -30DAA, QAA and Cash balances are unchanged
-30DAA Pending Withdrawals shows it as complete -Marketplace shows it as a withdrawal request with 0% discount, Source 30-Day Access Account, Destination Cash
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Post by Companion Cube on Feb 3, 2021 17:56:35 GMT
OK, so it seems the 'Bug Fix' has changed some other behaviour.
30D and 90D withdrawal requests which have served their notice period now automatically move to QAA.
So no more earning that extra .25% / .35% whilst waiting for your pennies to trickle through.
I've just had a 30DAA withdrawal complete its notice period (at 17.25 today, 3 Feb) and it's still in the 30DAA -30DAA, QAA and Cash balances are unchanged
-30DAA Pending Withdrawals shows it as complete -Marketplace shows it as a withdrawal request with 0% discount, Source 30-Day Access Account, Destination Cash
Well yes, that seems right to me. Your withdrawn 30D funds are now in the queue at par and are now eligible for the next 10% par withdrawal, in fact for any par withdrawals where they weren't before. You can now transfer the withdrawal amount to QAA and withdraw at a discount if you want it as cash now. If one were able to just transfer everything into 30D, wait a month and then completely exit at par then I would have performed this queue jump back in August. If I understand you correctly, your options are: 1. Sit and wait until your position at par is reached (you're currently at the back but people will join behind you) 2. Transfer in to QAA (no cost to transfer) and enjoy instant cash at market discount but at a lower rate (perfectly fair) Hope this helps
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cb25
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Post by cb25 on Feb 3, 2021 18:16:01 GMT
I've just had a 30DAA withdrawal complete its notice period (at 17.25 today, 3 Feb) and it's still in the 30DAA -30DAA, QAA and Cash balances are unchanged
-30DAA Pending Withdrawals shows it as complete -Marketplace shows it as a withdrawal request with 0% discount, Source 30-Day Access Account, Destination Cash
Well yes, that seems right to me. Your withdrawn 30D funds are now in the queue at par and are now eligible for the next 10% par withdrawal, in fact for any par withdrawals where they weren't before. You can now transfer the withdrawal amount to QAA and withdraw at a discount if you want it as cash now. If one were able to just transfer everything into 30D, wait a month and then completely exit at par then I would have performed this queue jump back in August. If I understand you correctly, your options are: 1. Sit and wait until your position at par is reached (you're currently at the back but people will join behind you) 2. Transfer in to QAA (no cost to transfer) and enjoy instant cash at market discount but at a lower rate (perfectly fair) Hope this helps Thanks for the response, I always transfer the 30DAA request into the QAA. I wrote this one up simply because it was not as suggested by dead-money
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dead-money
Rocket to the Moon
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Post by dead-money on Feb 3, 2021 18:26:39 GMT
Thanks cb25 looks like something specific to my accounts then.
Moot point for me now, as have now fully exited all Access accounts and ISA transfer requests have been initiated. (Ignoring the <0.001p left in limbo)
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