alanp
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Post by alanp on Jan 26, 2016 15:18:17 GMT
Can I just check - can I buy something on the SM (if I am lucky enough one day) and then transfer the funds across to balance my account or do I need to have deposited cash first?
Thanks
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Jan 26, 2016 15:23:22 GMT
Can I just check - can I buy something on the SM (if I am lucky enough one day) and then transfer the funds across to balance my account or do I need to have deposited cash first? Thanks Hi alanp You can have a negative balance first, and then transfer the amount across later. SS will send you an e-mail the next morning to remind you to resolve the negative balance, but you actually have 48hour to do so. If you don't resolve the negative balance within 48hours then SS will put your investments back onto the SM You can also resolve the negative balance by placing the same amount on the secondary market (if you overspend for example, or are diversifying your portfolio) You will find most people on here will invest first, then transfer the amount the next morning; it saves you having money unnecessary sitting in SS bank account.
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SteveT
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Post by SteveT on Jan 28, 2016 16:08:32 GMT
I've just had a email notification from SS confirming my deposit about 1.5 hours after it arrived. I used to be emailed about 09:30 the next day. Has savingstream changed the mechanism to be more like moneything? If so, I like it :-) Edit: Actually - I got two emails - I guess they're testing... Interesting. If they start crediting deposits more regularly through the day then that could be a precursor to doing away with "buy now, pay tomorrow" ...
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ben
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Post by ben on Jan 28, 2016 16:38:29 GMT
Mine was done during the day to the other day
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Post by GSV3MIaC on Jan 28, 2016 17:35:37 GMT
I get two emails every time, and mentioned it on another thread some place as a buglet. Other investors assure me they get two as well (but not two sets of credit!).
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mikes1531
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Post by mikes1531 on Jan 28, 2016 19:03:25 GMT
I sent a FP to SS at 1336 this afternoon. My two deposit confirmation emails were sent at 1557.
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paulg
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Post by paulg on Jan 28, 2016 19:25:16 GMT
Do these latest deposit confirmation emails still include a list of deposit reconcilliation days/times like they used to?
I must admit I've only been making withdrawals from SS lately as I've given up on the SM for investing and the pipeline isn't looking good to me.
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mikes1531
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Post by mikes1531 on Jan 29, 2016 2:35:43 GMT
Do these latest deposit confirmation emails still include a list of deposit reconcilliation days/times like they used to? No.
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oldgrumpy
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Post by oldgrumpy on Feb 22, 2016 13:36:57 GMT
Oh my oh my wot a naughty boy am I, uh? I managed five consecutive no recaptcha rigmarole non bot purchases on the SM  this morning and made several sales of older loans also. Eventually I stopped at about 11:00 with a negative balance of more than £77  and have already received the dreaded email by 13:30
22nd February 2016
Dear oldgrumpy,
You currently have a negative balance of £-77.09
Please make a bank transfer or sell loan parts to rectify this. Your bananas could be cancelled if you do not resolve this matter.
I've never had one of these before so I'd better jump to it! 
(Sorry about the typo  )
PS I expect SS just pick a time at random and press a button to wake up the hamster which emails every "overdrawn" investor regardless of how long they've been in the neg.
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adrianc
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Post by adrianc on Feb 22, 2016 14:26:24 GMT
Your bananas could be cancelled
<wince>
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oldgrumpy
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Post by oldgrumpy on Feb 22, 2016 14:35:01 GMT
Your bananas could be cancelled
<wince> Worry not, my friend! My balance has been neutered  .... neutralised ... levelled  ... ummm restored  .
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treeman
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Post by treeman on Feb 22, 2016 17:57:05 GMT
Oh my oh my wot a naughty boy am I, uh? I managed five consecutive no recaptcha rigmarole non bot purchases on the SM this morning and made several sales of older loans also. Eventually I stopped at about 11:00 with a negative balance of more than £77 and have already received the dreaded email by 13:30
22nd February 2016
Dear oldgrumpy,
You currently have a negative balance of £-77.09
Please make a bank transfer or sell loan parts to rectify this. Your bananas could be cancelled if you do not resolve this matter.
I've never had one of these before so I'd better jump to it!
(Sorry about the typo )
PS I expect SS just pick a time at random and press a button to wake up the hamster which emails every "overdrawn" investor regardless of how long they've been in the neg.
Did a bit of shopping and swapping this morning too - transferred the required to SS by FP at 12:30, got the 'nudge' about 1:30 too, balance still showing as negative .... guess the system is indeed a bit random ....
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Post by sunspot on Feb 22, 2016 19:41:08 GMT
I don't think their negative balance system is entirely automated... A week or two back, I thought I had made a transfer late on a Friday night, but it still hadn't been credited on Tuesday, nor had I received the usual 48 hour warning.
Anyway, I logged into my bank account and the money was still there! I think I must have failed to click the final confirmation and simply logged out. But I learned from my mistake, and only transfer money now after a good night's sleep - lest I make a more serious error.
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adrianc
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Post by adrianc on Feb 24, 2016 9:56:31 GMT
We have a new record...
Yesterday - pre-fund plus loan purchases. Deposit sent to match.
9.00 - bought loan part.
9.18 - confirmation of yesterday's deposit.
9.43 - bananectomy email.
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oldgrumpy
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Post by oldgrumpy on Feb 24, 2016 10:04:45 GMT
Perhaps SS are tightening up on an increasing number of negative balances because too many investors are taking too long to deal with them, i.e. "taking the proverbial".
Having this "pay later" facility is a privilege, not a right. I wonder how long it will last.
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and have already received the dreaded email by 13:30
)
.... 
... ummm restored 
. 