jonah
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GBBA
Apr 3, 2016 8:22:55 GMT
Post by jonah on Apr 3, 2016 8:22:55 GMT
Agreed re 7 days as a possible answer. However clarity that the protection kicks in at that point (if that is the case) would be helpful.
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happy
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GBBA
Apr 3, 2016 11:14:35 GMT
Post by happy on Apr 3, 2016 11:14:35 GMT
Agreed re 7 days as a possible answer. However clarity that the protection kicks in at that point (if that is the case) would be helpful. I understand the PF to be discretionary therefore I wouldn't expect to see any hard and fast rules on how or when payments will be made. Considering ACs obvious interest in ensuring the GBBA/GEIA accounts perform to their stated return I would expect where there is any real likelyhood of a payment not being made then PF payment would be considered. chris, do you have any further info on PF operation guidelines for GBBA/GEIA you could share with us?
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GBBA
Apr 3, 2016 11:18:21 GMT
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Post by chris on Apr 3, 2016 11:18:21 GMT
Agreed re 7 days as a possible answer. However clarity that the protection kicks in at that point (if that is the case) would be helpful. I understand the PF to be discretionary therefore I wouldn't expect to see any hard and fast rules on how or when payments will be made. Considering ACs obvious interest in ensuring the GBBA/GEIA accounts perform to their stated return I would expect where there is any real likelyhood of a payment not being made then PF payment would be considered. chris , do you have any further info on PF operation guidelines for GBBA/GEIA you could share with us? It's a question for operations and the directors that form the decision making body. There's no automatic process as it is discretionary, so probably best to ask via the customer service team on Monday and they can get back to you with a comprehensive answer. Sorry!
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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GBBA
Apr 3, 2016 11:51:03 GMT
Post by ilmoro on Apr 3, 2016 11:51:03 GMT
Agreed re 7 days as a possible answer. However clarity that the protection kicks in at that point (if that is the case) would be helpful. Should be noted that the 7 days is discretionary as there are a number of loans that have gone well beyond this without AC feeling the need to take any penalty action in response. Not something that should influence application of provision fund however surely?
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investibod
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GBBA
Apr 3, 2016 12:21:40 GMT
Post by investibod on Apr 3, 2016 12:21:40 GMT
Agreed re 7 days as a possible answer. However clarity that the protection kicks in at that point (if that is the case) would be helpful. Should be noted that the 7 days is discretionary as there are a number of loans that have gone well beyond this without AC feeling the need to take any penalty action in response. Not something that should influence application of provision fund however surely? I think that to remain a discretionary fund, there are limits to what rules can be created; and my understanding is that there are good legal/financial reasons for it to be a discretionary fund. However, I do not see that there should not be an issue publishing the 'guidelines' of how the fund would operate in these circumstances.  These would have to remain guidelines and not legally binding on AC. So we would have to give a little slack if the actual operation did not always comply to the letter (rather than the spirit) of the guidelines.
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warn
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Post by warn on Apr 3, 2016 21:26:51 GMT
Should be noted that the 7 days is discretionary as there are a number of loans that have gone well beyond this without AC feeling the need to take any penalty action in response. Not something that should influence application of provision fund however surely? I think that to remain a discretionary fund, there are limits to what rules can be created; and my understanding is that there are good legal/financial reasons for it to be a discretionary fund. However, I do not see that there should not be an issue publishing the 'guidelines' of how the fund would operate in these circumstances. These would have to remain guidelines and not legally binding on AC. So we would have to give a little slack if the actual operation did not always comply to the letter (rather than the spirit) of the guidelines. Yes, but we wouldn't, would we? We'd get out our indignation thesaurus, whine about compliance, wield the FCA light-sabre, and tell the largely uninterested world that we'd had enough and were withdrawing everything to invest elsewhere. P.S. And yes, tonight's claret was corked, which may have affected my usually sunny and forgiving disposition. P.P.S.  , I suppose.
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jonah
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GBBA
Apr 4, 2016 20:48:07 GMT
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Post by jonah on Apr 4, 2016 20:48:07 GMT
Loan 165 paid out today. Which is nice and my GBBA reinvested most of it which is also nice, helping with diversification, more interest and more cash for the PF.
I was busy at work so didn't ask CS about the timelines for the above. If any does make that call though, any feedback would be interesting to hear.
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mikes1531
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GBBA
Apr 11, 2016 23:08:39 GMT
Post by mikes1531 on Apr 11, 2016 23:08:39 GMT
Loan 165 paid out today. Which is nice and my GBBA reinvested most of it which is also nice, helping with diversification, more interest and more cash for the PF. I think I'm being discriminated against! My small GBBA's last purchase was on 20/Nov/15, with my statement showing about 60 interest or principal payment credits since then -- none of which have been reinvested!
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jonah
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GBBA
Apr 12, 2016 4:52:04 GMT
Post by jonah on Apr 12, 2016 4:52:04 GMT
Loan 165 paid out today. Which is nice and my GBBA reinvested most of it which is also nice, helping with diversification, more interest and more cash for the PF. I think I'm being discriminated against! My small GBBA's last purchase was on 20/Nov/15, with my statement showing about 60 interest or principal payment credits since then -- none of which have been reinvested! I've had 100% investment two or three times so far this year... So it sounds like a bug! I'm assuming you have the 'reinvest income and principal ' option set.
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mikes1531
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GBBA
Apr 12, 2016 16:08:54 GMT
Post by mikes1531 on Apr 12, 2016 16:08:54 GMT
I think I'm being discriminated against! My small GBBA's last purchase was on 20/Nov/15, with my statement showing about 60 interest or principal payment credits since then -- none of which have been reinvested! I've had 100% investment two or three times so far this year... So it sounds like a bug! I'm assuming you have the 'reinvest income and principal ' option set. Yes, it is set to 'Reinvest Repayments and Interest'. (I just double-checked in case that setting had somehow been disturbed -- but it hadn't.)
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investibod
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GBBA
Apr 12, 2016 19:03:08 GMT
Post by investibod on Apr 12, 2016 19:03:08 GMT
I've had 100% investment two or three times so far this year... So it sounds like a bug! I'm assuming you have the 'reinvest income and principal ' option set. Yes, it is set to 'Reinvest Repayments and Interest'. (I just double-checked in case that setting had somehow been disturbed -- but it hadn't.) I think maybe it gets stuck sometimes and needs a little prod to push it along. My GBBA had a small balance slowly growing from interest and repayments. It had not made any purchases for about a week. My GEIA had a few pence that were unlikely to get invested before Christmas. So I withdrew these to my cash account and then transferred them to by GBBA. Within the hour my GBBA was fully invested.
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GBBA
Apr 15, 2016 21:11:11 GMT
Post by chris on Apr 15, 2016 21:11:11 GMT
mikes1531 - worked it out, you're fully invested now.
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mikes1531
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GBBA
Apr 15, 2016 21:35:26 GMT
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Post by mikes1531 on Apr 15, 2016 21:35:26 GMT
mikes1531 - worked it out, you're fully invested now. : I am indeed! That's brilliant. Thanks for sorting this out. Now if you could do the same for my GEIA... (But I expect that's due to a shortage of GEIA-eligible loans rather than an IT issue.) Go ahead and take the rest of the day off! 
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duck
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GBBA
Apr 16, 2016 7:23:11 GMT
Post by duck on Apr 16, 2016 7:23:11 GMT
chris .. (But I expect that's due to a shortage of GEIA-eligible loans rather than an IT issue.) ... Is your account maxxed out on 218, 225 & 241? My MLIA accounts have been picking these up on a very regular basis (no I'm not complaining!) OK sometimes just the odd £ but at other times £100+.
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mikes1531
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GBBA
Apr 16, 2016 18:59:42 GMT
Post by mikes1531 on Apr 16, 2016 18:59:42 GMT
chris .. (But I expect that's due to a shortage of GEIA-eligible loans rather than an IT issue.) ... Is your account maxxed out on 218, 225 & 241? My MLIA accounts have been picking these up on a very regular basis (no I'm not complaining!) OK sometimes just the odd £ but at other times £100+. I don't think it could be. I opened it in Nov.'14 and it might have maxxed out on some loans at that time because there weren't that many available, but I've added nothing to it since then, so it's very unlikely to have been able to max out on any loans made since then -- which would include the three mentioned above -- because all it's had to invest since then is a few bits of interest and capital repayments. So perhaps it is 'stuck' in the same way my GBBA was stuck. Can you give it a kick, chris?
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, I suppose.
