webwiz
Posts: 1,133
Likes: 210
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Post by webwiz on Feb 2, 2015 19:04:41 GMT
It seems that every payment made will have a different payee and reference. When I made my second payment I just reused the first payment in my bank's payment schedule without noticing at first. Don't do the same!
I am hoping that AO can sort it out.
Edit: Later - they very quickly responded, but it has been a week now and they (or their bank) have not yet been able to sort it. It seems to really screw things up so it's important to get the details right.
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james
Posts: 2,205
Likes: 955
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Post by james on Feb 24, 2015 0:32:32 GMT
Oh dear. That's asking for trouble because bank systems are set up to expect the same payee and reference and treat changes to either as a high risk transaction requiring extra checks. Not a problem for debit card payments but nasty for bank transfers.
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savernake
Member of DD Central
Posts: 174
Likes: 142
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Post by savernake on Aug 29, 2017 16:25:09 GMT
Thinking of dipping my toe into this platform. Is the payment reference still an issue? Do you still need to quote a different reference number for each individual project?
I know you can pay by Direct Debit too, but I'd prefer to use bank transfer if possible as this gives me more control over when funds leave my account. However, if it causes problems I'll just stick to DD.
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mary
Member of DD Central
Posts: 698
Likes: 711
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Post by mary on Aug 29, 2017 17:34:14 GMT
Thinking of dipping my toe into this platform. Is the payment reference still an issue? Do you still need to quote a different reference number for each individual project? I know you can pay by Direct Debit too, but I'd prefer to use bank transfer if possible as this gives me more control over when funds leave my account. However, if it causes problems I'll just stick to DD. Fortunately this is now fixed, same reference that is unique to you is used for different investments.
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Post by hugoarchover on Sept 19, 2017 15:20:35 GMT
Thank you all for the discussion regarding payments. Please see below for further information regarding payment on the ArchOver platform:
There are two payment options available to you, both powered by our partner MangoPay:
1) Direct Debit: Used by the majority of our Lenders this enables you to set up a mandate to transfer the amount automatically when you make a pledge. You only need to set up the mandate once allowing all future pledges to be collected directly from your designated bank account. Go to the Bank Account section in ‘My Profile’ to enable Direct Debit. For more information on Direct Debit and how it works, please visit: directdebit.co.uk/. The maximum single payment you can make by Direct Debit is £20,000. Any payments over this limit must be made by bank transfer
2) Bank transfer: After confirming your pledge to a project you will be presented with three pieces of information, a bank account number, a sort code and your lender reference number, allowing you to manually transfer the pledge amount. For each payment that you make via bank transfer, the same sort code, account number and reference is used.
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