ramblin rose
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“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 Jan 16, 2014 20:31:01 GMT
But if the restriction was 1 bid per lender, why have I and my brother-in-law been able to place 2 bids each. There were no error messages on my bids. It looks to me as if the only restriction on bidding was initially the £400 cap and then at some point in the bidding process someone has changed the system to restrict lenders to 1 bid each. If that is the case then this is appalling and goes a long way to destroying FS' credibility. I have had an email advising that the system has picked up a double investment and the second bid will be deleted. I'll not be happy if this happens because my total bids are only £300. Perhaps it was bodged in to prevent the situation that happened to your brother in law and philtb who both unintentionally bid twice due to the error message - I have done it in the past before I got used to the spurious error message after bidding when it's busy. But people should be able to legitimately split their bid amount up into separate smaller bids. I have confidence that they will resolve this to everyone's satisfaction - they always have up until now.
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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
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Post by ramblin rose on Jan 16, 2014 20:33:20 GMT
Given its only just gone over 50%, there is a good chance for a repeat scrum at 3pm tomorrow for top ups ! I was thinking exactly the same myself 
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alison
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Sanctuary!!
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Post by alison on Jan 16, 2014 20:35:38 GMT
But if the restriction was 1 bid per lender, why have I and my brother-in-law been able to place 2 bids each. There were no error messages on my bids. It looks to me as if the only restriction on bidding was initially the £400 cap and then at some point in the bidding process someone has changed the system to restrict lenders to 1 bid each. If that is the case then this is appalling and goes a long way to destroying FS' credibility. I have had an email advising that the system has picked up a double investment and the second bid will be deleted. I'll not be happy if this happens because my total bids are only £300. Perhaps it was bodged in to prevent the situation that happened to your brother in law and philtb who both unintentionally bid twice due to the error message - I have done it in the past before I got used to the spurious error message after bidding when it's busy. But people should be able to legitimately split their bid amount up into separate smaller bids. I have confidence that they will resolve this to everyone's satisfaction - they always have up until now. But I didn't get an error message!! I have just had an email from them asking if I want them to change my investment to £300 (on a single bid I assume) so yes they are actively working on it and I should end up the way I intended. Email was sent after 8pm too so they are putting the effort in.
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Post by fundingsecure on Jan 16, 2014 21:09:21 GMT
To clarify the above thread, the restriction was set so that there could be only one bid per lender. The fact that we did not clarify this is an oversight that we will correct next time.
We found there were three people who "double-bidded" - all of which happened in the first few minutes of the loan going live. We can only assume that these double bidders found that the website was not responding and hit the investment button a second time. We thought we had removed this possibility from the system but apparently not. Our manual procedures ensure that these extra bids are cancelled, unless the bidders expressly confirm otherwise by email.
We did not change the rules midstream.
The remaining (as it stands) 48 lenders did not experience this issue – although it did take a while for the system to catch up with the bids.
That having been said, we are far from happy with our performance today and are meeting with our developers tomorrow to see how we can radically change the process to prevent what has become a far too frequent series of errors.
We remain pleased that our fundamental economic model is rewarding to investors, albeit that the flow of loans is too slow. In the last few weeks we have been diverting our marketing focus from google to referrals. Whilst the take-up can be slow in the short-term, we believe this is the right long-term direction. We have a further partnership in discussion that will speed up the flow of loans once completed.
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mikes1531
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Post by mikes1531 on Jan 16, 2014 22:22:03 GMT
I have just had an email from them asking if I want them to change my investment to £300 (on a single bid I assume) so yes they are actively working on it and I should end up the way I intended. Email was sent after 8pm too so they are putting the effort in. I've received an email from FS as well. They didn't think the loan would be filled completely by the time the bidding restrictions are lifted, but they did offer to cancel my £200 bid and replace it with a £400 bid. They may be right that this loan won't be filled completely by 1500 tomorrow, but I'd rather not take the chance that it is, or that I'm not sitting at my computer at the right moment, or that there's a scrum at the time and I'm not fast enough to place a bid before the loan is filled completely. So I've asked them to organise the £400 bid for me. From our experiences so far, I'd say that Customer Service is one of FS's strong points.
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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
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Post by ramblin rose on Jan 16, 2014 22:35:41 GMT
From our experiences so far, I'd say that Customer Service is one of FS's strong points. Definitely - their responsiveness, fairness and very professional attitude right from the beginning have turned my initial quite strong scepticism about this business into a surprisingly high level of trust. I will certainly be amongst those who continue to support the business through this irritatingly rocky period.
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mikes1531
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Post by mikes1531 on Jan 17, 2014 17:14:00 GMT
Here's a new development on the current loan's page....
It shows the loan request to be 91% fulfilled, but instead of there being a button to allow submitting a further bid -- now that the restrictions have been lifted -- there's a note that says...
I wonder what exactly that means?
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bugs4me
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Post by bugs4me on Jan 17, 2014 17:20:10 GMT
Here's a new development on the current loan's page.... It shows the loan request to be 91% fulfilled, but instead of there being a button to allow submitting a further bid -- now that the restrictions have been lifted -- there's a note that says... I wonder what exactly that means? Maybe someone's just offered the balance perhaps?
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mikes1531
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Post by mikes1531 on Jan 17, 2014 17:36:24 GMT
Here's a new development on the current loan's page.... It shows the loan request to be 91% fulfilled, but instead of there being a button to allow submitting a further bid -- now that the restrictions have been lifted -- there's a note that says... " Investments in progress will fully fund this loan."
I wonder what exactly that means? Maybe someone's just offered the balance perhaps? If they did, they failed to follow through -- the loan is now showing 92% fulfilled, and the opportunity to invest has reappeared. (Not that there's any money in my account I could use to bid with!)
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Post by elljay on Jan 18, 2014 10:38:12 GMT
I'm wondering if the gold loan that's due for repayment is going to be back in my account in time to move some funds to this one. The gold one says 0 days remaining on the summary page, but the Due Date on the loan itself is 19-Jan-2014. Guess we'll find out on Monday...
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starfished
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Post by starfished on Jan 18, 2014 11:26:15 GMT
The message wasn't there when I was thinking about adding more around 8pm but then was there by 10pm and has stayed till this morning.
Suspect you might be right on your theory, FS is the only P2P site that often "remembers me" when I go back to their site when I don't log out even if I shut down my computer. I don't mind as it is a pain logging into some of the others and answering several questions which I am not convinced enhances security anyway, but it might be remembering someone's indecision...
If that is the case, it usually takes about 3 days for FS to "forget" me again.
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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
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Post by ramblin rose on Jan 18, 2014 11:41:38 GMT
The remaining (as it stands) 48 lenders did not experience this issue – although it did take a while for the system to catch up with the bids.
That having been said, we are far from happy with our performance today and are meeting with our developers tomorrow to see how we can radically change the process to prevent what has become a far too frequent series of errors.
I think you may be underestimating the frequency of this particular error situation. As a minimum, I believe the system was in the state where it would have applied to me, had I followed the error instructions. After making my bid and waiting a while for a response I got the error message saying there had been a problem and to try again. I am certain that having mistakenly got into that branch of code, it would have allowed me to do so. Basically, when this happens, the initial bid has gone into the database, but the code has gone off down a path that believes it hasn't. On a previous item when I did do as instructed and try again I ended up with an unintended double bid, and it is only because of this that I decided to check first - sure enough my initial bid was in fact there. It is possible I am the only one, but I think not probable - more likely a number of people that were caught out that way previously will have ignored the error message this time round. It was new lenders who, naturally, did as they were told and tried again.
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mikes1531
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Post by mikes1531 on Jan 18, 2014 17:11:48 GMT
The message wasn't there when I was thinking about adding more around 8pm but then was there by 10pm and has stayed till this morning. It's still there now -- late afternoon -- with the loan showing it's within £400 of being fully funded.
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starfished
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Post by starfished on Jan 18, 2014 18:27:25 GMT
The message stopped being there briefly for me sometime in the afternoon so I was able to add in another £50 in but I fear I broke it as it is showing my addition twice and has returned to stopping people adding in funds... I promise I did not hit the back button, etc. I'm sure it will sort itself out shortly as I don't have the funds for the extra bid anyway...
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mikes1531
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Post by mikes1531 on Jan 19, 2014 15:45:13 GMT
The message stopped being there briefly for me sometime in the afternoon so I was able to add in another £50 in but I fear I broke it as it is showing my addition twice and has returned to stopping people adding in funds... I promise I did not hit the back button, etc. I'm sure it will sort itself out shortly as I don't have the funds for the extra bid anyway... Has this been sorted? The message had reappeared earlier today, and now it's gone again. Another gremlin I see is that on the list of Live Loans, this loan shows as being 97.5% funded, whereas it shows to be 98% funded on the actual loan page.
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