ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Feb 4, 2015 10:05:15 GMT
Is anyone else having problems with updating their account? My Faster Payment transfers made on nd February are still not showing in my account, giving me a BACS Deficit. Have emailed savingstream but no response yet. Never had this issue before. Has anything changed recently? Did you also do the manual 'Step 1' of noting your deposit on the site? This is a necessary step for their systems to match up the incoming payments, otherwise they have to track it down. I'm guessing you did, as you've done it before. I do occasionally find it takes a few days to show though, even so; just depends how many other things the guys have had on their plates at the time. They were away for a long weekend and had a lot of stuff to do catching up in the past couple of days, so could be the explanation.
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will
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Post by will on Feb 4, 2015 10:13:39 GMT
Exactly the same here, James.
I paid in 2nd Feb, e-mailed like you. No response.
At the same time, tho', the chunk I've paid for hasn't been taken off me.
I guess that's one good sign ??
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Grezza
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Post by Grezza on Feb 4, 2015 10:13:59 GMT
Hi, my Faster payment was made 5 mins after investing in PBL24, and hasn't cleared into my account yet either, after waiting to get into a loan, I would be gutted if my bid was rejected because of lack of cleared funds. (Yes, did use step 1)
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Post by chrisuk on Feb 4, 2015 10:14:45 GMT
I made a Bacs payment a couple of days ago which was showing in my Saving Stream account as a deficit for several hours. It was eventually changed to a credit but I was quite worried for a while.
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
Posts: 1,370
Likes: 857
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Post by ramblin rose on Feb 4, 2015 10:25:12 GMT
At the same time, tho', the chunk I've paid for hasn't been taken off me. I guess that's one good sign ?? You mean your SS account hasn't been debited for something you think you purchased? Never come across that. Or did you mean the transferred money hasn't disappeared from your bank? Either of those sound distinctly 'not right' to me.
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
Posts: 1,370
Likes: 857
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Post by ramblin rose on Feb 4, 2015 10:29:29 GMT
I made a Bacs payment a couple of days ago which was showing in my Saving Stream account as a deficit for several hours. It was eventually changed to a credit but I was quite worried for a while. Several hours is nothing to worry about - it can often take a day or two to show up at SS. Personally I start to worry and send emails after a couple of days, which I've done on just a couple of occasions, but there has never actually been a problem - just the occasional tardiness at doing what needs doing at the SS end.
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
Posts: 1,370
Likes: 857
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Post by ramblin rose on Feb 4, 2015 10:31:42 GMT
Hi, my Faster payment was made 5 mins after investing in PBL24, and hasn't cleared into my account yet either, after waiting to get into a loan, I would be gutted if my bid was rejected because of lack of cleared funds. (Yes, did use step 1) You're not likely to have your bid rejected, provided you have done the FP. They usually give a fair bit of leeway for banking issues, and as noted, it is normally there in their bank, just not updated into your account.
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Post by chrisuk on Feb 4, 2015 10:35:06 GMT
In my case, I purchased a chunk of PBL24 and then immediately made a Faster Payment to Savingstream to cover the purchase. For several hours it was showing as a deficit even though I knew the funds had left my bank account.
It appears to be a growing problem that Savingstream should rectify as quickly as possible as it's causing some anxiety to investors.
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
Posts: 1,370
Likes: 857
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Post by ramblin rose on Feb 4, 2015 10:44:08 GMT
In my case, I purchased a chunk of PBL24 and then immediately made a Faster Payment to Savingstream to cover the purchase. For several hours it was showing as a deficit even though I knew the funds had left my bank account. It appears to be a growing problem that Savingstream should rectify as quickly as possible as it's causing some anxiety to investors. I guess they need to give some guidelines to manage expectations, which would save a lot of worry from new lenders. As p2p/SS grows there are more and more new lenders who perhaps don't realise they aren't investing with a large organisation with systems to match. Many of these p2p outfits are very small and can't be expected to process things instantly, but that doesn't stop people expecting it anyway, and as you say, worrying when it doesn't happen.
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Post by chrisuk on Feb 4, 2015 11:04:37 GMT
I'm sure it states somewhere on the website that your Faster Payment must arrive within 24 hours of making a purchase. If it sometimes takes longer than this for Savingstream to update their systems it's bound to cause worry amongst investors. I was certainly getting twitchy, especially as it was only my 2nd investment and I am new to Peer2Peer lending!! My account was eventually updated just before I went to bed thank goodness, otherwise I probably would not have slept too well!!
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paulg
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Post by paulg on Feb 4, 2015 11:12:31 GMT
I had one of these BACS deficits showing for 2 weeks, even though I'd made the transfer straight away and made several more deposits/Bacs transfers in the meantime which were processed normally within a few hours. When I emailed SS about it they rectified it instantly. It never affected the loans I'd bought into so I don't worry about these delays any more.
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baldpate
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Post by baldpate on Feb 4, 2015 11:21:32 GMT
I had the same problem this week - purchased PBL24 on Monday & immediately initiated BACS transfer. Still showing as deficit Tuesday pm, so phoned SS, Shortly after the transfer was credited & the deficit disappeared.
I only phoned because my previous experience had been that it was all squared away within a few hours. As other posters have said, delays tend to make investors twitchy given how valuable is the 'instant funding' approach taken by SS.
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will
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Post by will on Feb 4, 2015 11:46:12 GMT
At the same time, tho', the chunk I've paid for hasn't been taken off me. I guess that's one good sign ?? You mean your SS account hasn't been debited for something you think you purchased? Never come across that. Or did you mean the transferred money hasn't disappeared from your bank? Either of those sound distinctly 'not right' to me. Errr, no. What I know I purchased showed up ok in my Transactions. The money went from my bank via Fast Payment ok, the purchase having previously been covered by Instant Deposit (as on dozen(s) of previous occasions). What I meant (& seemingly garbled) was that after the expiry of 24hrs my purchase has not reverted back to being offered for sale - as has happened at least once before, recently, when a 'cheater' never paid up within the required time. Guess that's still clear as mud?
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
Posts: 1,370
Likes: 857
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Post by ramblin rose on Feb 4, 2015 11:50:03 GMT
You mean your SS account hasn't been debited for something you think you purchased? Never come across that. Or did you mean the transferred money hasn't disappeared from your bank? Either of those sound distinctly 'not right' to me. Errr, no. What I know I purchased showed up ok in my Transactions. The money went from my bank via Fast Payment ok, the purchase having previously been covered by Instant Deposit (as on dozen(s) of previous occasions). What I meant (& seemingly garbled) was that after the expiry of 24hrs my purchase has not reverted back to being offered for sale - as has happened at least once before, recently, when a 'cheater' never paid up within the required time. Guess that's still clear as mud? Perfectly clear - me being dense 
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
Posts: 1,370
Likes: 857
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Post by ramblin rose on Feb 4, 2015 11:58:01 GMT
I'm sure it states somewhere on the website that your Faster Payment must arrive within 24 hours of making a purchase. If it sometimes takes longer than this for Savingstream to update their systems it's bound to cause worry amongst investors. I was certainly getting twitchy, especially as it was only my 2nd investment and I am new to Peer2Peer lending!! My account was eventually updated just before I went to bed thank goodness, otherwise I probably would not have slept too well!! I would probably worry too if I were a new lender these days - perfectly understandable. Your experience, and others is exactly why they should perhaps give some more guidance. What it actually states on the webiste is that you must make (i.e. instigate) a BACS transfer (which can take up to 3 days to arrive) rather than that an FP must arrive in your account. You, and other new lenders, have no way of knowing that it can take a day or two for them to update the system. Some of the larger p2p outfits never update FP payments into your account until the following day, so it is extremely good that SS get them updated the same day in most cases. More guidance rarely does any harm, and in most cases can do a lot of good. Edit: meant to add, welcome to the SS forum  You will find that the SS experience is not always so hair-raising, although I must say you jumped in to one of the smaller and riskier platforms for your first p2p experience  (Most people start with the comfort of the larger, better established and comparitively worry-free outfits  )
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You will find that the SS experience is not always so hair-raising, although I must say you jumped in to one of the smaller and riskier platforms for your first p2p experience 
(Most people start with the comfort of the larger, better established and comparitively worry-free outfits 
)