blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Jan 19, 2016 20:20:59 GMT
So from an emailed lending review sent today we now know something about the IFISA. We will need to set up a new account for the IFISA with a new email address. And we will not be able to transfer in loan parts - we have to deposit cash and buy them. But at least it seems we will be able to manage the accounts - buy and sell. It seems to be simply a second account within the wrapper. There will be interesting times on the secondary market.
|
|
metoo
Member of DD Central
Posts: 555 
Likes: 432
|
Post by metoo on Jan 19, 2016 20:56:20 GMT
So from an emailed lending review sent today we now know something about the IFISA. We will need to set up a new account for the IFISA with a new email address. And we will not be able to transfer in loan parts - we have to deposit cash and buy them. But at least it seems we will be able to manage the accounts - buy and sell. It seems to be simply a second account within the wrapper. There will be interesting times on the secondary market. The email is riddled with confusing links, some out of date and some going to nowhere useful. I thought I'd tried them all but I can't track down the details. Can you provide the web link to the info page if it's open access? Is there any proper info or is it just dripped out in the survey? As I didn't have answers for all the questions, perhaps I didn't see all the snippets. Thanks.
|
|
|
|
Post by GSV3MIaC on Jan 19, 2016 21:00:41 GMT
So from an emailed lending review sent today we now know something about the IFISA. We will need to set up a new account for the IFISA with a new email address. And we will not be able to transfer in loan parts - we have to deposit cash and buy them. But at least it seems we will be able to manage the accounts - buy and sell. It seems to be simply a second account within the wrapper. There will be interesting times on the secondary market. Actually it said 'may need' for the new email address, and they were asking people if they could/would set up (or already had) a spare email address. Of course we know just how well they listen to answers to that sort of Q, so your 'you will require' might well be right. Good deal on transfers in, but if I'm putting serious money into an IFISA it wouldn't be the FC one. 8>.
|
|
metoo
Member of DD Central
Posts: 555
Likes: 432
|
Post by metoo on Jan 19, 2016 21:06:38 GMT
Is there any proper info or is it just dripped out in the survey? As I didn't have answers for all the questions, perhaps I didn't see all the snippets. Thanks. Read the survey; it seems to be all the info available, AFAIK. Edit: one question was: "How much of your previous ISA subscriptions are you likely to transfer to your Funding Circle IFISA Account?" Thanks. I made up some answers to get through to the information. Didn't submit as I needed "don't know" answers.
|
|
metoo
Member of DD Central
Posts: 555
Likes: 432
|
Post by metoo on Jan 19, 2016 21:08:23 GMT
Good deal on transfers in, but if I'm putting serious money into an IFISA it wouldn't be the FC one. 8>. Which would you go for, given the trickle of deals on many sites and the potential flood of new cash?
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Jan 19, 2016 21:14:01 GMT
So from an emailed lending review sent today we now know something about the IFISA. We will need to set up a new account for the IFISA with a new email address. And we will not be able to transfer in loan parts - we have to deposit cash and buy them. But at least it seems we will be able to manage the accounts - buy and sell. It seems to be simply a second account within the wrapper. There will be interesting times on the secondary market. Actually it said 'may need' for the new email address, and they were asking people if they could/would set up (or already had) a spare email address. Of course we know just how well they listen to answers to that sort of Q, so your 'you will require' might well be right. Good deal on transfers in, but if I'm putting serious money into an IFISA it wouldn't be the FC one. 8>. Thanks for that correction. At present I believe all FC accounts have a unique email address, but of course FC IT will soon cook up a way round that which works faultlessly (as long as you only have one account open at a time). So which is the IFISA of choice?
|
|
|
|
Post by GSV3MIaC on Jan 19, 2016 21:14:29 GMT
If we're talking 'all my ISA money in the world' then I'd spread it around, with a reasonable chunk in RS (because it appears less risky than some, and you can stuff it in for a month and put it into something longer if opportunity presents itself). I doubt there'll be a major 'wall of money' on day1 .. but after the P2P folks get advertising, there may well be. This assumes any/all of the P2P players are actually ready for 'Bang! Go!' on 6th April .. which I personally wouldn't bet on, given their demonstrated systems expertise so far (e.g. see 'New Forum'). 8>.
For the £15k for 2016/7 then FC might be tolerable .. when I say 'all my ISA money' I mean the £x00k which may have built up since ISAs started, way back when (plus rolled in PEPs or whatever) assuming you got lucky with your stocks and shares. 8>.
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Jan 19, 2016 21:32:23 GMT
I am only considering two FC accounts for 2016/7 allowances.
All those Autobidders with existing FC accounts of £10k + will be interested in getting the relatively high interest tax-free, and FC are going to wish to encourage them to open a second IFISA account. I think there could be turmoil on the SM from March as people sell to transfer in cash and from April 6 as people try to buy from the new accounts or transfer their holdings via the SM. I just need to work out have to do the transfer efficiently myself, and how to profit from other people doing it inefficiently. I wish I had 0.25% of all the money transferred.
|
|
|
|
Post by hj on Jan 19, 2016 23:34:14 GMT
A new email account won't be happening for me, I have enough trouble following the 2 I have. SO if that is a requirement, it will be a good time for me to look at the other options.
|
|
metoo
Member of DD Central
Posts: 555
Likes: 432
|
Post by metoo on Jan 19, 2016 23:43:42 GMT
A new email account won't be happening for me, I have enough trouble following the 2 I have. SO if that is a requirement, it will be a good time for me to look at the other options. Is that really how you take your financial decisions?  I don't think you'd actually have to look at the emails ongoing. They'd be duplicates of the ones you already get. But on the other hand, looking at other options is no bad thing, spreading your risks.
|
|
|
|
Post by hj on Jan 19, 2016 23:55:35 GMT
A new email account won't be happening for me, I have enough trouble following the 2 I have. SO if that is a requirement, it will be a good time for me to look at the other options. Is that really how you take your financial decisions? I don't think you'd actually have to look at the emails ongoing. They'd be duplicates of the ones you already get. But on the other hand, looking at other options is no bad thing, spreading your risks. Yeah, I think knowing that you will receive and see all relevant communications about your investments is one of the more important considerations. Not the only one ofc, but kinda a building block upon which some of the other important considerations rely. Genuinely. I am a bit of a dinosaur, admittedly, but I doubt I can be alone in wanting (needing) to stick to the email address(es) I have. Its like if a company doesn't want to deliver to my home I probably won't pay them to provide something I want delivered.
|
|
metoo
Member of DD Central
Posts: 555
Likes: 432
|
Post by metoo on Jan 20, 2016 0:03:14 GMT
Is that really how you take your financial decisions? I don't think you'd actually have to look at the emails ongoing. They'd be duplicates of the ones you already get. But on the other hand, looking at other options is no bad thing, spreading your risks. Yeah, I think knowing that you will receive and see all relevant communications about your investments is one of the more important considerations. Not the only one ofc, but kinda a building block upon which some of the other important considerations rely. Genuinely. I am a bit of a dinosaur, admittedly, but I doubt I can be alone in wanting (needing) to stick to the email address(es) I have. Its like if a company doesn't want to deliver to my home I probably won't pay them to provide something I want delivered. It's a fair point. Maybe they'll listen if enough people feel that way. Probably it's why they're asking now.
|
|
|
|
Post by gadget on Jan 20, 2016 3:42:39 GMT
A separate email address doesn't mean a different email account.
Most email accounts eg Hotmail Gmail etc allow you to use multiple aliases for the same account. Eg gadget+fc1@gmail.com will go to the same inbox as gadget+fc2@gmail.com
I'm more annoyed that I won't be able to transfer my loan parts to a new isa account. Not looking forward to having to start my portfolio from scratch...
|
|
bigfoot12
Member of DD Central
Posts: 1,817
Likes: 816
|
Post by bigfoot12 on Jan 20, 2016 8:39:01 GMT
The bigger problem seems to be that FC doesn't work well with more than one account in a browser. I have no personal experience of this, but there are several reports on this forum that even when logged in to a different account some information can be cached from the previous account. Several people use a different browser for each account.
Is it as bad as that?
|
|
|
|
Post by GSV3MIaC on Jan 20, 2016 8:46:26 GMT
No, it's worse. 8>.
Use a different browser, or a private/incognito window, that should work.
|
|
