grahamg
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Post by grahamg on Oct 7, 2015 18:24:00 GMT
Been like this since after my last transfer in on the 24sep
You have £xxx.xx available in your account, however we are unable to transfer money out of your account at this time due the following reasons:
You have recently transferred in £xxx.00 via debit card and these funds have not yet been cleared by our payment provider.
Their response was :
Unfortunately there has been a delay in clearing these funds from our payment provider, but our Financial Controller will be finishing this off this evening, so you should be able to see those funds have cleared from tomorrow.
Well tomorrow was the 6th and still not fixed
Anyone had similar issues?
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Jaydee
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Post by Jaydee on Oct 7, 2015 19:54:20 GMT
Been like this since after my last transfer in on the 24sep You have £xxx.xx available in your account, however we are unable to transfer money out of your account at this time due the following reasons: You have recently transferred in £xxx.00 via debit card and these funds have not yet been cleared by our payment provider. Their response was : Unfortunately there has been a delay in clearing these funds from our payment provider, but our Financial Controller will be finishing this off this evening, so you should be able to see those funds have cleared from tomorrow. Well tomorrow was the 6th and still not fixed Anyone had similar issues? Yes, asked for funds to be released on 30th September. Told me that my Bank details had to be verified although the money was returning to the Bank from which I had made Faster Payments from. It took 3 working days to verify my account. I could have walked to their offices from my home in 4 hours. Still waiting for the money to reach my bank account. So now into 7 working days from my withdrawal request. Hope things speed up.
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stevio
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Post by stevio on Oct 7, 2015 20:02:53 GMT
Been like this since after my last transfer in on the 24sep You have £xxx.xx available in your account, however we are unable to transfer money out of your account at this time due the following reasons: You have recently transferred in £xxx.00 via debit card and these funds have not yet been cleared by our payment provider. Their response was : Unfortunately there has been a delay in clearing these funds from our payment provider, but our Financial Controller will be finishing this off this evening, so you should be able to see those funds have cleared from tomorrow. Well tomorrow was the 6th and still not fixed Anyone had similar issues? Yeah had same issue - Debit Card payment was made over a week ago, how can it take that long for them to get their money!
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registerme
Member of DD Central
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Post by registerme on Oct 7, 2015 20:17:14 GMT
Well, let's poke lendingcrowd and see what they have to say!
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Jaydee
Member of DD Central
Posts: 415
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Post by Jaydee on Oct 8, 2015 11:11:54 GMT
Well, let's poke lendingcrowd and see what they have to say! My funds hit my bank account about 30 minutes ago. So now happy and know what period to allow for fund withdrawal. Doubly happy as I've now received my second referral fee.
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stevio
Member of DD Central
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Post by stevio on Oct 9, 2015 9:03:06 GMT
Had email to say funds from Debit Card payment made about 1.5 wks ago now cleared and I can withdraw But now they have to "approve my bank account" - wonder how long this will take! If you made a payment by debit card, looks like it can take weeks to withdraw funds after
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Post by nanniema on Oct 23, 2015 8:27:20 GMT
Still no better today - exactly the same response in spite of the money leaving my account on 6th October by "faster payment".
A lame carrier pigeon walking to Edinburgh carrying my deposit in 1p pieces would have got there by now.
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jimbob
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Post by jimbob on Oct 23, 2015 13:34:54 GMT
Still no better today - exactly the same response in spite of the money leaving my account on 6th October by "faster payment". A lame carrier pigeon walking to Edinburgh carrying my deposit in 1p pieces would have got there by now. Have you contacted them about this ? My experience of time lag from withdrawal request to seeing funds back in my account is as follows: 7 - 14th 11 - 14th 16 - 20th 20 - ?th (26th)
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Post by Deleted on Oct 29, 2015 9:31:18 GMT
My experience - too- is extremely NEGATIVE.
I had deposited a certain sum in the hope to be able to lend to more businesses, but given the constant lack of proposals (and the general sluggishness of the LC current auction model) I decided to withdraw and put them at work elsewhere.
a) Over 15 days after deposit apparently they still had to 'clear the funds' (what??? And in any case how to do distinguish the money from my deposit of 2 months ago??? It seems that any time you make a new deposit, even for a small sum, they reset this 15-20 days-waiting queue). So my first attempt was rejected. b) Went back after 3 days and finally they seemed to have cleared my deposit (some 20 days after it), so I could withdraw and I went for it, but.... they have to 'check the current account'. Well I thought there were automated instantaneous means to check them, but well not for Lending Crowd. A week has gone since my attempt to withdraw money and I still haven't been able even to see the withdraw amount box!!!!
About 25% of my LC investment is unutilised and I cannot promptly withdraw the money. Not even the old Yes-Secure was so slow to let your money go out. I think there will not be another deposit from me on this network, until speed changes radically! I invest here to get returns. If I need 2-3 weeks to withdraw my money (after waiting 2-3 weeks for chances to invest it and not finding any...), my aim is totally defeated!!
LendingCrowd, my suggestion is to listen very carefully. People don't like to wait weeks to get their money. This model is UNWORKABLE.
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Post by pepperpot on Oct 29, 2015 12:02:10 GMT
Just to bring balance to the force, my experience has been extremely positive. I fished for a referral on 8 Oct and now have the account fully operational, deposits and withdrawals have all been processed within 1 - 2 days (deposits same day usually). My first test withdrawal of £5 was made on 27th Oct and has just landed in my bank account today.
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Post by Deleted on Oct 30, 2015 12:09:57 GMT
My experience - too- is extremely NEGATIVE. I had deposited a certain sum in the hope to be able to lend to more businesses, but given the constant lack of proposals (and the general sluggishness of the LC current auction model) I decided to withdraw and put them at work elsewhere. a) Over 15 days after deposit apparently they still had to 'clear the funds' (what??? And in any case how to do distinguish the money from my deposit of 2 months ago??? It seems that any time you make a new deposit, even for a small sum, they reset this 15-20 days-waiting queue). So my first attempt was rejected. b) Went back after 3 days and finally they seemed to have cleared my deposit (some 20 days after it), so I could withdraw and I went for it, but.... they have to 'check the current account'. Well I thought there were automated instantaneous means to check them, but well not for Lending Crowd. A week has gone since my attempt to withdraw money and I still haven't been able even to see the withdraw amount box!!!! About 25% of my LC investment is unutilised and I cannot promptly withdraw the money. Not even the old Yes-Secure was so slow to let your money go out. I think there will not be another deposit from me on this network, until speed changes radically! I invest here to get returns. If I need 2-3 weeks to withdraw my money (after waiting 2-3 weeks for chances to invest it and not finding any...), my aim is totally defeated!! LendingCrowd, my suggestion is to listen very carefully. People don't like to wait weeks to get their money. This model is UNWORKABLE. Just an update on the saga of withdrawing from Lending Crowd and all the obstacles that this company is creating to slow down the cash out... Obstacle 1 - Clearing the previous deposit - 20 days (even if the deposit was done almost 2 months earlier) Obstacle 2 - Verification of the bank details - 4 days and going To slow down the process further, they now asked me a copy of statement from this account (which I promptly sent). The saga continues.... at present my guess is that 30 days will not be sufficient to get my money out! None of the many platforms I used in the past was so sluggish (have they cashflow problems???) Just think before giving your money out to this outfit....
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arbster
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Post by arbster on Oct 30, 2015 13:05:24 GMT
Just to bring balance to the force, my experience has been extremely positive. I fished for a referral on 8 Oct and now have the account fully operational, deposits and withdrawals have all been processed within 1 - 2 days (deposits same day usually). My first test withdrawal of £5 was made on 27th Oct and has just landed in my bank account today. Thanks pepperpot. Almost missed your post amongst cacophony of grinding axes...
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Post by lendingcrowd on Oct 30, 2015 17:31:47 GMT
Hi everyone,
Thank you for your posts.
We use a third party payment service provider for debit card payments, and this company does not transfer the funds to us for 7 days after the payment has been made, meaning the funds do not 'clear' for at least 7 days after the initial payment. This is a timescale that unfortunately we are unable to influence.
The first time an investor wants to withdraw money, they are required to submit their bank details for verification. This is part of our security process to help protect our customers' funds and prevent against fraud. We may need investors to send in a bank statement to verify these details if they have transferred in funds by debit card. This process only needs to be completed the first time an investor wants to withdraw money.
We have this process in place to reduce the risk of fraud and to protect all our customers.
Kind regards,
LendingCrowd
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Post by Deleted on Oct 30, 2015 18:15:34 GMT
We use a third party payment service provider for debit card payments, and this company does not transfer the funds to us for 7 days after the payment has been made, meaning the funds do not 'clear' for at least 7 days after the initial payment. This is a timescale that unfortunately we are unable to influence. According to the statement above the maximum delay in clearance of incoming funds would be 7-10 days. Unfortunately in my case my initial deposit was done on 5 september 2015. Last week (ca 20 October, i.e. 45 days after that) I needed to withdraw. I went to do that on site and was prompted with the standard sentence that my funds had not yet cleared (!). So definitely something is not working in this process. Coupling this with the very long current account verification, the end result is that there might be a huge delay (even 15 days) for lenders in withdrawing own money. And this is a unique negative feature of Lending Crowd, as I haven't seen this on other p2p networks (not even in the really badly managed ones like Yes-Secure).
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Post by GSV3MIaC on Oct 31, 2015 17:03:38 GMT
We may need investors to send in a bank statement to verify these details if they have transferred in funds by debit card. This process only needs to be completed the first time an investor wants to withdraw money. That'll be interesting for those of us with internet-only accounts .. shall we use my printer, or yours? 8>.
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