beagle
Investor in ratesetter, funding circle, lendy (lesson learnt) and AC
Posts: 670
Likes: 322
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Post by beagle on Apr 7, 2021 8:43:40 GMT
you make payments on weekends yes. do they work on weekends - no. they have never made payments over the weekend. Beyond doubt in the big scheme of things it is 'no big deal' However that an institution decides to close peoples accounts (presumably at a time to suit their financial ends) on a day when they are well aware they cannot make payment and then does not make said payment as soon as is possible deserves criticism. That they clearly will not care is to their shame. you are right . now it seems there is still no payments. it is poor.
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macq
Member of DD Central
Posts: 1,934 
Likes: 1,199
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Post by macq on Apr 7, 2021 9:36:18 GMT
you can see it now - a high powered meeting with all the top brass discussing when would be the best time to close the product and pay it back
And the winning answer was on the Weekend of a double bank holiday?? (and throw in new tax year/ISA season as a bonus)
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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 Apr 7, 2021 9:48:22 GMT
you can see it now - a high powered meeting with all the top brass discussing when would be the best time to close the product and pay it back And the winning answer was on the Weekend of a double bank holiday?? (and throw in new tax year/ISA season as a bonus) they probably wanted to avoid the new tax year
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adrianc
Member of DD Central
Posts: 9,978
Likes: 5,131
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Post by adrianc on Apr 7, 2021 10:07:44 GMT
Yup, pure coincidence that the new tax year happened to coincide with Easter.
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Post by Badly Drawn Stickman on Apr 7, 2021 10:27:32 GMT
An email blaming the bank is being sent out, money heading your way...... So all good then
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adrianc
Member of DD Central
Posts: 9,978
Likes: 5,131
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Post by adrianc on Apr 7, 2021 10:31:34 GMT
An email blaming the bank is being sent out, money heading your way...... So all good then Just received here. "Your money is on its way to your bank account
Dear adrianc,
We are sorry that your recent withdrawal request has not arrived in your bank account yet.
We sent out the payments from RateSetter on time yesterday, but they were held up by a payments processing issue in the banking system. Our payments processing partner is working to fix this and ensure that your money arrives in your bank account as soon as possible. We apologise for any inconvenience this may cause. We will update you later today.
The RateSetter Team"
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Post by moonraker on Apr 7, 2021 10:36:50 GMT
Just got the email. Bit ominous: "We will update you later today". Still, no big deal.
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coogaruk
Hello everyone! Anyone remember me?
Posts: 706
Likes: 464
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Post by coogaruk on Apr 7, 2021 12:05:41 GMT
Hmm. You're right of course, but I often make bank transfers at weekends and even did a large transfer on Easter Sunday - it arrived in seconds. So the blockage can only be Ratesetter themselves or their bank. I'm sure we'll all get paid tomorrow, but considering the promise of payment by 6pm today, I suspect there's been a problem. you make payments on weekends yes. do they work on weekends - no. they have never made payments over the weekend. Yesterday wasn't on a weekend.
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travolta
Member of DD Central
Posts: 1,506
Likes: 1,214
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Post by travolta on Apr 7, 2021 17:28:09 GMT
Not there yet. Maybe in alphabetical order. Dammit I knew it was bad to marry Mr Zzafeld.
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Post by tpolllll on Apr 7, 2021 17:38:16 GMT
So much for updating us later today...
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starfished
Member of DD Central
Posts: 298 
Likes: 216
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Post by starfished on Apr 7, 2021 17:42:58 GMT
Gosh we retail investors are a tough bunch! They are really not going to miss us  |
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Post by moonraker on Apr 7, 2021 18:01:30 GMT
Just got the email. Bit ominous: "We will update you later today". Still, no big deal. No updates yet, but no doubt people are working long into the evening to sort things out. It's becoming a slightly bigger deal now. I did have plans for the money and it doesn't matter if these are delayed a bit, but had I been counting on using the proceeds today ...
Who among us will be the first to start to crack and wonder if someone's done a runner with our dosh? 
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Post by mfaxford on Apr 7, 2021 18:03:32 GMT
Requested the withdrawal yesterday (Tues) and it's in my bank now (it wasn't at 5pm when I last looked) so they've managed it for some of us.
I wonder if the list for yesterdays requests was a bit shorter than everyone who got their requests in over the extended weekend.
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Post by tpolllll on Apr 7, 2021 18:10:48 GMT
Gosh we retail investors are a tough bunch! They are really not going to miss us I really don't think we are. This is a £300 million + loan book. If another bank was waiting on this money and it was delayed by 2 days I think they'd be looking at compensation or litigation. I've had to pull funds out of another ISA to cover me for this delay.
Ok, I'm done moaning now.
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Post by westcountryfunder on Apr 7, 2021 18:18:51 GMT
Requested the withdrawal yesterday (Tues) and it's in my bank now (it wasn't at 5pm when I last looked) so they've managed it for some of us. I wonder if the list for yesterdays requests was a bit shorter than everyone who got their requests in over the extended weekend. Lucky you! Those of us who are still waiting are going to be paid some more interest. I estimate 0.000001%pa. I jest of course!  
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