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Post by Financial Thing on Aug 20, 2015 11:47:13 GMT
Well done savingstream for paying attention to the customer and forum feedback. |
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Post by nickthefool on Aug 20, 2015 11:47:44 GMT
I think that's in by design? The "pre-funding pot" will use any funds you have available on the site, including any earnings, and if you don't have enough, then it'll effectively ask you for a BACS transfer. They haven't confirmed that yet. As things stand it will work as any instant deposit does now and the BACS deficit will be created, and would have to be manually offset by them on request. That's what I've been asking about. Ok thanks, I misunderstood how it worked then.
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Liz
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Post by Liz on Aug 20, 2015 11:48:11 GMT
Thanks for listening SS. Sounds like a good idea.
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ianj
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Post by ianj on Aug 20, 2015 11:50:08 GMT
Great idea. Just a couple of initial thoughts.
It might be of value to publish on the Pre-funding screen the current Pre-funding total, the number of lenders with the option set, with examples of how that might pan-out for loans of £5k, £1.2m, etc.. Lenders will then have some idea of how their target might translate against any pipeline loan.
While a lender might be happy to have a Pre-funding of £xk, I feel it unlikely that everyone would be comfortable with the full amount in related loans, ie. 11/12/13 or 51/52/53. Can this be catered for?
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merlin
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Post by merlin on Aug 20, 2015 11:50:32 GMT
Must be a better solution to the jammed up system of the last few auctions. I think it would work well for me holidays, illness included.
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ilmoro
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Post by ilmoro on Aug 20, 2015 11:51:02 GMT
savingstream. Great idea, solves IT issue and overfunding issues on launches. Only issue I can see is notifying people of participation given there a few people who dont get selected emails or texts (overseas). Also it would make sense to add prefunding setting to dashboard for reference, its currently unclear as stardust has noted given the confirmation says the same whether turning off or on It didn't say the same for me. It asked was I sure I wanted to switch it on. Started with 'cancel' until I realised I hadn't clicked the button to say 'Yes' and then it said 'set'. Right early on, as soon as I read about it. Same message whether switching off or on, tried reversing off & on and changing amount, same result. Logged off & on too
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ramblin rose
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Post by ramblin rose on Aug 20, 2015 11:52:41 GMT
@nancelot and ramblin rose, can see the entire list now thanks, not sure if it was a fix or I wasn't scrolling  , but as ilmoro pointed out it still says 'cancel' whenever you make a change. Are you sure you clicked on the 'Yes' button, because it didn't say cancel for me when I did. I believe the 'Yes' 'No' buttons may be causing confusion. They aren't necessary if there is an option of £0, which is the exact equivalent of 'No' - probably needs looking at savingstream?
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star dust
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Post by star dust on Aug 20, 2015 11:56:00 GMT
@nancelot and ramblin rose, can see the entire list now thanks, not sure if it was a fix or I wasn't scrolling , but as ilmoro pointed out it still says 'cancel' whenever you make a change. Are you sure you clicked on the 'Yes' button, because it didn't say cancel for me when I did. I believe the 'Yes' 'No' buttons may be causing confusion. They aren't necessary if there is an option of £0, which is the exact equivalent of 'No' - probably needs looking at savingstream? Have edited my original post since you quoted it. Definitely never a set for me! Perhaps yours was a beta version  .
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ramblin rose
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Post by ramblin rose on Aug 20, 2015 11:57:32 GMT
It didn't say the same for me. It asked was I sure I wanted to switch it on. Started with 'cancel' until I realised I hadn't clicked the button to say 'Yes' and then it said 'set'. Right early on, as soon as I read about it. Same message whether switching off or on, tried reversing off & on and changing amount, same result. Logged off & on too Interesting - still changes from 'cancel' to 'setup' for me every time I change it. Curious - doesn't sound like the sort of thing that would be browser-related, but maybe it is. My suggestion of dispensing with them and having a £0 option instead would deal with that anyway. ( star dust )
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ilmoro
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Post by ilmoro on Aug 20, 2015 12:01:10 GMT
Same message whether switching off or on, tried reversing off & on and changing amount, same result. Logged off & on too Interesting - still changes from 'cancel' to 'setup' for me every time I change it. Curious - doesn't sound like the sort of thing that would be browser-related, but maybe it is. My suggestion of dispensing with them and having a £0 option instead would deal with that anyway. ( star dust ) Ah I see what your saying the actual text changes. What does the confirmation message say, thats what we're referring to  
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ramblin rose
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Post by ramblin rose on Aug 20, 2015 12:01:40 GMT
Great idea. Just a couple of initial thoughts. It might be of value to publish on the Pre-funding screen the current Pre-funding total, the number of lenders with the option set, with examples of how that might pan-out for loans of £5k, £1.2m, etc.. Lenders will then have some idea of how their target might translate against any pipeline loan. While a lender might be happy to have a Pre-funding of £xk, I feel it unlikely that everyone would be comfortable with the full amount in related loans, ie. 11/12/13 or 51/52/53. Can this be catered for? Selling out immediately. It's effectively the same as feeling uncomfortable with a loan full stop.
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Post by savingstream on Aug 20, 2015 12:01:59 GMT
We will see how it goes and will keep our eyes open. If you know you are going to be away, let us know, we will deal with it for you. Could you put some kind of time limit on clearing a pre-funded BACs, say 3 days, unless notified otherwise by borrowers? For repeat offenders you could always disable it of course  That is the current default position. Repeat offenders or obvious abusers are locked out of this facility.
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ramblin rose
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Post by ramblin rose on Aug 20, 2015 12:05:28 GMT
Interesting - still changes from 'cancel' to 'setup' for me every time I change it. Curious - doesn't sound like the sort of thing that would be browser-related, but maybe it is. My suggestion of dispensing with them and having a £0 option instead would deal with that anyway. ( star dust ) Ah I see what your saying the actual text changes. What does the confirmation message say, thats what we're referring to o Got to laugh  I am, as you, talking about the confirmation message that I need to respond to. We have different browsers because the message box looks quite different. Will try to do screen shots - not brilliant at jiggery pokery though 
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webwiz
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Post by webwiz on Aug 20, 2015 12:05:32 GMT
An ingenious idea. If it works, and I can see no reason why not, it will be an improvement on the limit system used by other platforms as it caters for pockets of different depths and is fair to all. It also seems to reduce the effect of bots (on new loans), which if not already present soon will be, now they can only pick up chunks on the SM and any surplus above the pre-funded.
Well done SS.
One question: can you make the same system work on (large) chunks that appear on the SM?
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ilmoro
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Post by ilmoro on Aug 20, 2015 12:15:11 GMT
Ah I see what your saying the actual text changes. What does the confirmation message say, thats what we're referring to o Got to laugh I am, as you, talking about the confirmation message that I need to respond to. We have different browsers because the message box looks quite different. Will try to do screen shots - not brilliant at jiggery pokery though Just logged in on Windows Chrome laptop, totally different message & box style. Looks like its a tablet issue (assus android).
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, but as 
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I am, as you, talking about the confirmation message that I need to respond to. We have different browsers because the message box looks quite different. Will try to do screen shots - not brilliant at jiggery pokery though 
