Post by spiral on Feb 8, 2015 12:31:31 GMT
Having just introduced my mother to RS I have realised that some things could be put in place to aid non computer savvy people.
The main one for her was because of her age, she would only like to operate in the shorter markets (1 month initially)
She would also only like to login to withdraw funds.
As she cannot be certain as to when withdrawals would need to be made, it is a must that she regularly has money available to withdraw but with a lump sum deposit, all repayments would come in on the same day.
ISTM therefore that RS could do with an auto spread function whereby it takes your current holding account sum and adds that to the expected repayments during the next calendar month and divides that by the number of working days and places that amount on market.
This would ensure that all of your funds get equally distributed through the month.
I accept that in the first month this wouldn't be very efficient as most of the money wouldn't be put to work but the alternative is that I'll need to do this for her daily but even then after the first month, I wouldn't pick up on early repayers which would also need to be re-spread and should she make any withdrawals, this would also need to reassess the distribution.
I also assume (not having the option to check as I have no funds on offer) that if you want to withdraw funds the only amount presented is that in the holding account and those on offer need to be cancelled prior to becoming available. If that is the case, it would be useful to present the combined sum as available and if required, an offer is automatically cancelled as part of the withdrawal process.
The main one for her was because of her age, she would only like to operate in the shorter markets (1 month initially)
She would also only like to login to withdraw funds.
As she cannot be certain as to when withdrawals would need to be made, it is a must that she regularly has money available to withdraw but with a lump sum deposit, all repayments would come in on the same day.
ISTM therefore that RS could do with an auto spread function whereby it takes your current holding account sum and adds that to the expected repayments during the next calendar month and divides that by the number of working days and places that amount on market.
This would ensure that all of your funds get equally distributed through the month.
I accept that in the first month this wouldn't be very efficient as most of the money wouldn't be put to work but the alternative is that I'll need to do this for her daily but even then after the first month, I wouldn't pick up on early repayers which would also need to be re-spread and should she make any withdrawals, this would also need to reassess the distribution.
I also assume (not having the option to check as I have no funds on offer) that if you want to withdraw funds the only amount presented is that in the holding account and those on offer need to be cancelled prior to becoming available. If that is the case, it would be useful to present the combined sum as available and if required, an offer is automatically cancelled as part of the withdrawal process.
