webwiz
Posts: 1,133
Likes: 210
|
Post by webwiz on Sept 16, 2015 17:36:37 GMT
I gave up waiting for my cash to get into QAA so requested a withdrawal. That just made it disappear completely - not on AC nor in my bank. How long have others found it takes?
|
|
|
|
Post by Butch Cassidy on Sept 16, 2015 17:42:33 GMT
I gave up waiting for my cash to get into QAA so requested a withdrawal. That just made it disappear completely - not on AC nor in my bank. How long have others found it takes? "Currently we do not have a faster payment option for withdrawal requests. Each withdrawal goes through a manual two stage process of approval. Our accounts staff will check to see if the account details you submit are linked to your account. We use a service called Lexis Nexis Bankmatch to highlight whether bank accounts are owned by an individual or not."
I think it took 2 days to hit my bank account, the above was Dom's reply when I asked for confirmation of the process.
|
|
mikes1531
Member of DD Central
Posts: 6,453
Likes: 2,320
|
Post by mikes1531 on Sept 17, 2015 2:43:33 GMT
VERRRRRRRY inconsistent.
I wound down holdings a few months ago and made a large withdrawal from AC, and they paid it straight from AC account to Saving Stream's account, with my SS reference, no questions asked...
A few weeks ago, I made a minor withdrawal from a different AC account, requesting payment straight back into the account it had been transferred into AC from... - several days later, still no funds, and then AC emailed at 5.02pm on a Friday to say no, they will not pay until I provide written evidence that it is my account!
Impressed, not.
IMHO the experience of a few months ago was a serious security faux pas -- AC really shouldn't have paid any withdrawal, and especially not a large one, into an account that isn't in the name of their account holder. Their current procedure sounds more secure, though their response time does seem rather slow.
|
|
webwiz
Posts: 1,133
Likes: 210
|
Post by webwiz on Sept 17, 2015 7:18:37 GMT
AC have made much of the liquidity in their new QAA account. This is a bit hollow if you can't get your money back in a reasonable time.
|
|
sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
Posts: 1,428 
Likes: 1,212
|
Post by sqh on Sept 17, 2015 7:56:04 GMT
I gave up waiting for my cash to get into QAA so requested a withdrawal. That just made it disappear completely - not on AC nor in my bank. How long have others found it takes? My last 5 withdrawals have been consistent, but before the FP deposit setup it wasn't. Withdrawal on July 7th at 17:12. Arrived in bank on July 9th. Withdrawal on July 29th at 16:50. Arrived in bank on July 31st. Withdrawal on Aug 5th at 11:00. Arrived in bank on Aug 6th. Withdrawal on Sept 9th at 12:51. Arrived in bank on Sept 10th. Withdrawal on Sept 14th at 00:50. Arrived in bank on Sept 15th. In all cases it was to the same account I use to make deposits. Conclusion, withdraw before 3pm and you'll get the money in your bank the next day.
|
|
webwiz
Posts: 1,133
Likes: 210
|
Post by webwiz on Sept 17, 2015 9:11:02 GMT
Conclusion, withdraw before 3pm and you'll get the money in your bank the next day. Did not work for me
|
|
sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
Posts: 1,428
Likes: 1,212
|
Post by sqh on Sept 17, 2015 9:27:13 GMT
Conclusion, withdraw before 3pm and you'll get the money in your bank the next day. Did not work for me Maybe they need to do extra checks if it's your first withdrawal. Also, noticed you were brandishing a wad of 50 monkeys, which may exceed daily limits and xfer as BACS (3days).
|
|
sl75
Posts: 2,092
Likes: 1,245
|
Post by sl75 on Sept 17, 2015 12:21:16 GMT
AC have made much of the liquidity in their new QAA account. This is a bit hollow if you can't get your money back in a reasonable time. Indeed: for those who are not "Assetz Capital experts", the line "Average time to withdraw funds over last 7 days" would seem to me likely interpreted as withdrawing funds to a bank account - especially people who are aware of Faster Payments allowing "real time" withdrawals. Maybe a rephrase would be in order?
|
|
SteveT
Member of DD Central
Posts: 6,875
Likes: 7,924
|
Post by SteveT on Oct 26, 2015 10:56:55 GMT
Could someone with recent experience of withdrawing cash from AC help predict when a withdrawal request made early on Saturday morning is likely to hit my bank account? Thanks!
|
|
|
|
Post by chris on Oct 26, 2015 11:03:53 GMT
Could someone with recent experience of withdrawing cash from AC help predict when a withdrawal request made early on Saturday morning is likely to hit my bank account? Thanks! Should be processed today and paid out overnight tonight via Faster Payments. I made a cash withdrawal on Friday afternoon and it hit my account that night. Withdrawals are still a manual process though so I can't give 100% certainty.
|
|
bigfoot12
Member of DD Central
Posts: 1,817
Likes: 816
|
Post by bigfoot12 on Oct 26, 2015 11:03:45 GMT
Probably Tuesday. They will probably process it today and you will get it tomorrow.
Edit Crossed with Chris
|
|
Mike
Member of DD Central
Posts: 651
Likes: 446
|
Post by Mike on Oct 26, 2015 11:16:27 GMT
I have also made my first withdrawal today... Lets see how many more squidlettes will chase after the first batch
|
|
star dust
Member of DD Central
Posts: 2,998
Likes: 3,531
|
Post by star dust on Oct 28, 2015 7:01:30 GMT
AC have got a new procedure whereby on making a withdrawal you receive an email saying
"Bank withdrawal requested
A request was recently made to withdraw funds from your Assetz Capital account
(account name and amount)
This is an automated email, please contact us if this action was not performed by you."
i actually contacted them to say 'it was me', and despite my fears this did not seem to delay the payment. Withdrawal made Monday after 6pm, in my account this morning. Apparently you can turn this off under the notification settings, though I haven't investigated yet.
|
|
|
|
Post by mrclondon on Oct 29, 2015 15:18:59 GMT
chris I'm sure most contributors to this thread would welcome an email notification when the withdrawal has been processed manually and is en-route. There is considerable inconsistency in the number of working days between requesting a withdrawal and receiving the funds, such that it is impossible to plan cashflow following a withdrwal request. For me this is, at present, the number one annoyance with AC.
|
|
|
|
Post by chris on Oct 29, 2015 15:23:01 GMT
chris I'm sure most contributors to this thread would welcome an email notification when the withdrawal has been processed manually and is en-route. There is considerable inconsistency in the number of working days between requesting a withdrawal and receiving the funds, such that it is impossible to plan cashflow following a withdrwal request. For me this is, at present, the number one annoyance with AC. Will make sure it's added to the list of notifications.
|
|
