p2pfan
Member of DD Central
Full-Time Investor
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Post by p2pfan on Oct 7, 2021 23:49:08 GMT
I spoke to a contact yesterday who told me he was frustrated because he's been trying to get a few thousand pounds invested in the 90DAA for a few weeks now, but his sum remains uninvested - it's in a queue, listed under the "My Access Account Marketplace Instructions" header.
What kind of approximate waiting periods are people experiencing before their sums are invested in these Access Accounts?
Thanks.
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
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Post by dave4 on Oct 8, 2021 6:58:52 GMT
AC is still full of money.
So waiting time is ages to infinity at this point .
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Post by Ton ⓉⓞⓃ on Oct 8, 2021 16:51:27 GMT
This other thread is talking about this issue
We're looking at the "overhang" of cash in sitting in the AA's trying to work out when it'll be used up - Just guessing, off the top of my 'ead, at least another month IMHO
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Post by df on Oct 10, 2021 16:33:25 GMT
I can't understand why people are doing this. It is the idle cash that earns nothing and waiting time is infinite. Is it not better to keep it in instant access (Marcus etc.) and invest when the desired p2p accounts are in need of this cash?
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mogish
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Post by mogish on Oct 12, 2021 7:52:49 GMT
I can't understand why people are doing this. It is the idle cash that earns nothing and waiting time is infinite. Is it not better to keep it in instant access (Marcus etc.) and invest when the desired p2p accounts are in need of this cash? I dont understand it either. P2p options are becoming more limited as the weeks go by with platforms seeking funding elsewhere rather than from retail Investors so maybe some folk are happy to wait.
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Post by highfire on Oct 19, 2021 14:11:14 GMT
I can't understand why people are doing this. It is the idle cash that earns nothing and waiting time is infinite. Is it not better to keep it in instant access (Marcus etc.) and invest when the desired p2p accounts are in need of this cash? I dont understand it either. P2p options are becoming more limited as the weeks go by with platforms seeking funding elsewhere rather than from retail Investors so maybe some folk are happy to wait. Yep, that's my view - at least for now.
We've had to wait before for AC to stabilise before - like during the withdrawal stampede.
Pipeline will take a couple of months to start eating in to the queue but little value in suffering x2 transfer lags switching IFISAs.
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Post by Ace on Oct 19, 2021 14:41:50 GMT
I dont understand it either. P2p options are becoming more limited as the weeks go by with platforms seeking funding elsewhere rather than from retail Investors so maybe some folk are happy to wait. Yep, that's my view - at least for now.
We've had to wait before for AC to stabilise before - like during the withdrawal stampede.
Pipeline will take a couple of months to start eating in to the queue but little value in suffering x2 transfer lags switching IFISAs.
AC are actually very efficient with their ISA transfers. I've done many transfers out recently, they seem to be taking somewhere between a couple of days and a week (obviously also depends on the receiving organisation). I'm not planning on transferring any back again, as I don't feel that AC's rates are competitive, but if your expecting a couple of months of cash drag it might be worth getting a return elsewhere for a while.
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iano
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Post by iano on Oct 19, 2021 14:54:09 GMT
I'd definitely have to agree on this, I've been transferring over to LoanPad and between the two of them the transfers literally took days (in fact on one occasion I got the form receipt notification from AC and the next day I got the funds receipt message from LP).
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Steerpike
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Post by Steerpike on Oct 19, 2021 15:03:29 GMT
Same experience here, in the last 4 months I have transferred 5 chunks from AC to Loanpad, mostly in a few days, and the only delay was because I forgot to date one of the transfers. Not only is the transfer fast, the funds are fully invested on Loanpad very quickly. I may invest again on AC if the deal flow picks up.
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Post by highfire on Oct 19, 2021 15:15:59 GMT
Noted about the IFISA transfer speeds - that's reassuring to know.
Also noted that the AA rates aren't what they were on AC, but the other issue I've got is diversification - offerings in the P2P market having contracted - I'm already in LP, UB, AC, CP, KL & LI up to my risk quota. Still looking to spread the risk so not minded to let this one go just yet, although time will tell.
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