twr19
New Member
Posts: 4
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Post by twr19 on Apr 7, 2021 19:54:58 GMT
No funds received here yet. I phoned Ratesetter at 1519 expressing my displeasure. The lady was as helpful as she could have been, explaining that the delay was with Barclays processing the transactions. I requested that Barclays provide compensation for the delay. She promised to pass the request up to her team.
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groon
Posts: 39
Likes: 40
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Post by groon on Apr 7, 2021 20:26:36 GMT
Received this just after 9pm:
"Further to our email to you this morning, we have been working urgently with our payments processing provider to fix the issue that has delayed your RateSetter withdrawal reaching your bank account.
The delay has been caused by a technical issue in the banking system which affected payments scheduled to be processed yesterday but has not affected payments processed today. Our payments processing provider is ensuring that the issue is fixed so that yesterday’s payments can proceed. In the meantime, your money remains in RateSetter’s customer account held with Barclays Bank, ready for transfer to your bank account.
We expect that your money should arrive in your bank account tomorrow. We apologise for the delay and for any inconvenience it may have caused."
Nothing about interest or compensation there. Why am I not surprised?
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Post by bobthebuilder on Apr 7, 2021 20:35:32 GMT
No funds received here yet. I phoned Ratesetter at 1519 expressing my displeasure. The lady was as helpful as she could have been, explaining that the delay was with Barclays processing the transactions. I requested that Barclays provide compensation for the delay. She promised to pass the request up to her team.
A pretty unbelievable excuse. I bank with Barclays and made a payment from my account on 6/4. No problems at all.
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elgerod
Member of DD Central
Posts: 99
Likes: 29
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Post by elgerod on Apr 7, 2021 20:37:42 GMT
Unbelievable and totally unacceptable!
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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 21:09:43 GMT
No funds received here yet. I phoned Ratesetter at 1519 expressing my displeasure. The lady was as helpful as she could have been, explaining that the delay was with Barclays processing the transactions. I requested that Barclays provide compensation for the delay. She promised to pass the request up to her team.
A pretty unbelievable excuse. I bank with Barclays and made a payment from my account on 6/4. No problems at all.
lol don't be silly. retail and business are not the same. they were paying 00s of millions im sure there are different checks.
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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 21:10:13 GMT
No funds received here yet. I phoned Ratesetter at 1519 expressing my displeasure. The lady was as helpful as she could have been, explaining that the delay was with Barclays processing the transactions. I requested that Barclays provide compensation for the delay. She promised to pass the request up to her team. then you better contact Barclays business banking
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Post by eraldorh on Apr 8, 2021 9:04:01 GMT
Still not recieved my money back. They are taking the absolute piss now!
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mickj
Member of DD Central
Posts: 433
Likes: 191
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Post by mickj on Apr 8, 2021 9:10:32 GMT
Been quite good the wind down until now, some egg on face for RateSetter with this last payment hanging in limbo.
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Post by westcountryfunder on Apr 8, 2021 9:27:28 GMT
Some interesting information here: Clearly now well beyond the permitted time for receipt of such payments, but we knew that already. Looks to me as if Ratesetter's large clearing bank partner should be liable to compensate us, but I doubt we'd get a sympathetic hearing from anyone - ombudsman, FCA, or whomever.
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Post by overthehill on Apr 8, 2021 9:43:54 GMT
It's Metro Bank !! The other reason on top of slashed rates that I took my money out of Ratesetter early, paying unnecessary fees, was the uncertainty of the loanbook destiny and having no confidence in Metro Bank to get something right.
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wapping35
Member of DD Central
Posts: 385
Likes: 210
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Post by wapping35 on Apr 8, 2021 9:51:41 GMT
I do love it when an organisation blames a problem on another organisation and omits to accept they are still responsible for the problem since they appointed that organisation to do the job in the first place.
To be fair RS/ Metro Bank are far from the first organisation to do this and certainly won't be the last.
Hopefully I/we will get the repayment today. I envisage zero prospect of any compensation and no doubted a repeat of the blaming it all on the third party they appointed to do the job. " I am really really sorry, but it is not my fault"...
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Post by Badly Drawn Stickman on Apr 8, 2021 9:54:48 GMT
Some interesting information here: Clearly now well beyond the permitted time for receipt of such payments, but we knew that already. Looks to me as if Ratesetter's large clearing bank partner should be liable to compensate us, but I doubt we'd get a sympathetic hearing from anyone - ombudsman, FCA, or whomever. Clearly the question now is, do they do the honorable thing and compensate automatically or do they need to receive a wave of complaints? (probably ought to be a smiley face there really)
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Post by Ace on Apr 8, 2021 10:22:03 GMT
My payment is in my bank account now.
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twr19
New Member
Posts: 4
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Post by twr19 on Apr 8, 2021 10:27:47 GMT
The four lumps of funds I was expecting have now arrived.
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Post by eraldorh on Apr 8, 2021 10:30:29 GMT
Finally got the payment now
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