eeyore
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Post by eeyore on Feb 8, 2023 20:33:00 GMT
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eeyore
Member of DD Central
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Likes: 734
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Post by eeyore on Feb 9, 2023 13:54:26 GMT
Update: The problem is being fixed by CP but withdrawals to the lender's bank account may not work for those affected by the problem.
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cb25
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Post by cb25 on Feb 10, 2023 10:13:44 GMT
As I'm not a member of DD, not sure if I've experienced the identical problem - put in a withdrawal early yesterday (9th), 24 hours still showed as 'Pending Confirmation', rang CP who said 'the request has been rejected by your bank ... please try again'. I re-issued the withdrawal, was processed very quickly as it is normally. CP had no response when I asked why they weren't being proactive in warning investors they may experience problems with withdrawals. Poor service imo.
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Post by Ace on Feb 10, 2023 11:03:39 GMT
As I'm not a member of DD, not sure if I've experienced the identical problem - put in a withdrawal early yesterday (9th), 24 hours still showed as 'Pending Confirmation', rang CP who said 'the request has been rejected by your bank ... please try again'. I re-issued the withdrawal, was processed very quickly as it is normally. CP had no response when I asked why they weren't being proactive in warning investors they may experience problems with withdrawals. Poor service imo. Thanks. I just repeated my pending withdrawal from yesterday and it went through instantaneously as normal. Bad form from CP to blame other banks rather than admitting that it was their cockup. And, as you say, bad form not to inform us.
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eeyore
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Post by eeyore on Feb 10, 2023 11:14:42 GMT
cb25 - I've sent you a message with the text of the discussion in the DD thread*. Yes, it sounds that you too may have the same issue. My speculation is that an "unexpected" change was made to (some) lenders' external bank accounts on Wednesday 8th and that CP reversed the changes back to the original sortcode & account number on Thursday morning. It appears to be that when any change is made to the external bank account details, the CP system pauses any subsequent withdrawal and flags it as "Pending Confirmation" - this is what happened to my partner with a withdrawal on late Wednesday (after the "unexpected" change to the bank details) and to me when I tried to make a withdrawal on Thursday afternoon after the original sortcode & account number had been reversed by CP. Both of us now have a withdrawal with "Pending Confirmation" status. The target bank details for each individual loan can be checked in the withdrawals log. * I created the thread in DD-Central on Wednesday evening because, at that stage, I feared that either my account or the CP data-base had been hacked.
Update: I too have succeeded in withdrawing funds from CP to my external bank account. (I ignored the "pending" withdrawal and took the whole balance, leaving the orphaned "pending" withdrawal as evidence of the glitch in the CP service.)
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eeyore
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Post by eeyore on Feb 10, 2023 15:28:01 GMT
Here is CP's emailed response this afternoon (Friday 10th) to my initial email appeal for help (evening of Wed 8th):
Thank you for your patience whilst our development team looked into this and many apologies for any frustration this has caused.
A new pension functionality which was released on Wednesday affected a small number of users accounts which led to the withdrawal form showing your CrowdProperty bank details rather than your usual withdrawal account details. This was detected yesterday morning and the update was switched off immediately, resulting in your withdrawal details showing correctly.
Our development team along with our banking provider continued to work on this throughout the day and I can confirm the incident has been resolved and should not affect your ability to withdraw.
I can also confirm a full post-incident review took place this morning to identify how the issue arose and the remedial actions required to ensure this is not repeated.
Please accept our apologies for any inconvenience caused and if you have any further questions please do not hesitate to get in touch.
Comment: Neither my partner nor I have any pension account at CP - just plain investment accounts. Odd that "pension functionality" should affect non-pension account holders! (Unless the bulk of CP lenders do have pension accounts and it's the minority of us non-pension lenders who've been caught-out?)
It appears to me that normal service has been resumed. A plaudit to CP for sorting it out and apologising for the inconvenience - it triggered an emergency review of security on my all P2P accounts.
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