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: 11,545
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Post by ilmoro on Nov 1, 2024 7:34:06 GMT
Another c£3m distributed, about 3.8%
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Post by Ace on Nov 6, 2024 17:06:31 GMT
A couple of very minor corrective interest payments for Feb and Mar 2024 were made today with description "Corrective interest payment for Quick Access Account for month 2024-03 at 0.14% per annum".
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min
Member of DD Central
Posts: 615
Likes: 182
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Post by min on Nov 7, 2024 7:13:53 GMT
A couple of very minor corrective interest payments for Feb and Mar 2024 were made today with description "Corrective interest payment for Quick Access Account for month 2024-03 at 0.14% per annum". And yet in my cash account it doesn’t say where the money has come from.
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Post by Ace on Nov 7, 2024 8:31:50 GMT
A couple of very minor corrective interest payments for Feb and Mar 2024 were made today with description "Corrective interest payment for Quick Access Account for month 2024-03 at 0.14% per annum". And yet in my cash account it doesn’t say where the money has come from. Yes, same here. The detail is listed in the QAA account transactions.
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Post by oppsididitagain on Nov 8, 2024 20:57:55 GMT
#1530 paid 1.2 Mil today. does that warrant an extra payout ?
What is the amount needed to ask AC for an extra monthly distribution ?
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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: 11,545
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Post by ilmoro on Nov 8, 2024 21:11:43 GMT
#1530 paid 1.2 Mil today. does that warrant an extra payout ? What is the amount needed to ask AC for an extra monthly distribution ? Wait to next week when the £1.7m from #601 will mean there will be about £3m free cash ... that will about the same as with 1557 Edit And another £10k of the interest required to hit the 4%
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Post by oppsididitagain on Nov 11, 2024 13:35:45 GMT
Today 601 paid 1.8Mil in Capital and a lot of back-dated interest, Surely they need to release these funds along with #1530
Fingers crossed
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Post by frank121 on Nov 11, 2024 13:58:08 GMT
Today 601 paid 1.8Mil in Capital and a lot of back-dated interest, Surely they need to release these funds along with #1530 Fingers crossed When I requested an early repayment last month due to one of the big loans repaying - they bluntly told me they have "done it" but it was a "one off"!
So don't get any ideas, ok. 
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Post by oppsididitagain on Nov 11, 2024 20:24:26 GMT
Ive sent them another Email asking for funds to be redeemed from the QAA
Let's see what they decide to do.
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morris
Member of DD Central
Posts: 272
Likes: 155
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Post by morris on Nov 13, 2024 12:56:57 GMT
#1245 funds received today.
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Post by oppsididitagain on Nov 13, 2024 17:39:29 GMT
I was told. no extra distribution this month before month end, due to , too many people putting ISA transfers
I think thats pathetic, over 3mil repaid and they are keeping it. Yet they tell us to withdraw ASAP from the QAA so we can re invest the money..
I would suggest others E mail them and ask what the criteria is for an extra distribution
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Post by bob2010 on Nov 13, 2024 18:43:10 GMT
I was told. no extra distribution this month before month end, due to , too many people putting ISA transfers I think thats pathetic, over 3mil repaid and they are keeping it. Yet they tell us to withdraw ASAP from the QAA so we can re invest the money.. I would suggest others E mail them and ask what the criteria is for an extra distribution So presumably they'll be paying us interest on our cash that they are holding?? Hmmm
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Post by frank121 on Nov 13, 2024 18:59:23 GMT
I was told. no extra distribution this month before month end, due to , too many people putting ISA transfers I think thats pathetic, over 3mil repaid and they are keeping it. Yet they tell us to withdraw ASAP from the QAA so we can re invest the money.. I would suggest others E mail them and ask what the criteria is for an extra distribution Well I didn't think they would do it again, they told me off last month for requesting such a outrageous thing! In my opinion they should release these big pay-outs when necessary and not hold onto them. The main reason people are putting in more ISA transfers is because of the upcoming fee which keeps getting delayed! They bring all this on themselves and cry about it.
From my complaint about AC encouraging us to withdraw funds (in their quarterly update emails) but then making it difficult to access by introducing fees:
"The section of our 31/01/2024 quarterly mailers that refers to encouraging Lenders to withdraw funds in a timely
manner is a call to action for those Lenders who have, to date, still not made any attempt to withdraw their funds
since December 2022 when the Retail Platform closed.
We have a regulatory duty of care to make Lenders aware that funds are being repaid and that they should look to
remove them from the platform. The FCA has also asked firms to encourage investors to remove cash which is
earning no interest and AC has been doing so for some time, since well before the date of the mailer, in order to
comply with that request."
They say this "encouragement " is only directed at investors who have not "made any attempt to withdraw funds" rather than the investors who have and continue to do so. I say this is nonsense of course and goes against FCA/CASS rules i.e they have a duty to encourage all investors to withdraw cash which is not earning interest which is why a fee free transfer each month makes sense. The FOS do not agree tho, because otherwise AC will sink and become insolvent yada yada. (AC have have provided confidential forecasts!) Did those forecasts take into consideration all those extended and increased monitoring fees; I do wonder…
Anyway the silver lining from their response is: When the ISA fee is finally introduced, naturally the number of ISA transfers will sink and those transfers that are requested will be charged for. Therefore, no excuses for mid-month payouts when large loans are repaid. ;p
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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: 11,545
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Post by ilmoro on Nov 13, 2024 20:10:15 GMT
I was told. no extra distribution this month before month end, due to , too many people putting ISA transfers I think thats pathetic, over 3mil repaid and they are keeping it. Yet they tell us to withdraw ASAP from the QAA so we can re invest the money.. I would suggest others E mail them and ask what the criteria is for an extra distribution So presumably they'll be paying us interest on our cash that they are holding?? Hmmm Yes, it's still in the AA so earning 4%.
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Post by bob2010 on Nov 13, 2024 21:29:09 GMT
So presumably they'll be paying us interest on our cash that they are holding?? Hmmm Yes, it's still in the AA so earning 4%. So they are paying it out of their own profits? I thought they only passed on the actual interest they receive from the borrowers less the 0.9% fee
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