dermot
Member of DD Central
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Post by dermot on Feb 4, 2016 11:29:12 GMT
Referring specifically to the GBBA (and to a lesser extent MLIA, into which I have so far dipped only the tiniest of toes...).
For the moment, I am content to let returns be reinvested into GBBA and/or sitting in the QAA until matched.
I am drip feeding cash in, as and when it comes in from other sources, so that I should get a stream of things maturing as the years go by.
Now, at some point in the future, I will want to start drawing down - looking at the GBBA dashboard, I have currently set reinvestment as the default, the other options being withdraw interest and capital repayments or interest only.
Where do those repayments go - cash account or QAA? Being a slothful sort of chap, it would be quite nice if they could just be redirected to my default bank account - is that possible?
Dermot
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Feb 4, 2016 12:09:14 GMT
Referring specifically to the GBBA (and to a lesser extent MLIA, into which I have so far dipped only the tiniest of toes...). For the moment, I am content to let returns be reinvested into GBBA and/or sitting in the QAA until matched. I am drip feeding cash in, as and when it comes in from other sources, so that I should get a stream of things maturing as the years go by. Now, at some point in the future, I will want to start drawing down - looking at the GBBA dashboard, I have currently set reinvestment as the default, the other options being withdraw interest and capital repayments or interest only. Where do those repayments go - cash account or QAA? Being a slothful sort of chap, it would be quite nice if they could just be redirected to my default bank account - is that possible? Dermot Cash account & no you will have to do the withdrawl yourself. Technically you dont have a default bank account as you have to enter the details
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dermot
Member of DD Central
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Post by dermot on Feb 4, 2016 13:04:51 GMT
Referring specifically to the GBBA (and to a lesser extent MLIA, into which I have so far dipped only the tiniest of toes...). For the moment, I am content to let returns be reinvested into GBBA and/or sitting in the QAA until matched. I am drip feeding cash in, as and when it comes in from other sources, so that I should get a stream of things maturing as the years go by. Now, at some point in the future, I will want to start drawing down - looking at the GBBA dashboard, I have currently set reinvestment as the default, the other options being withdraw interest and capital repayments or interest only. Where do those repayments go - cash account or QAA? Being a slothful sort of chap, it would be quite nice if they could just be redirected to my default bank account - is that possible? Dermot Cash account & no you will have to do the withdrawl yourself. Technically you dont have a default bank account as you have to enter the details OK, thanks. Since I have the sweep option enabled, I assume it'll just sit earning 3.75% in the QAA until manually withdrawn then; that's good enough for a 'hands-off' holding account for a short period. cheers, Dermot
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bigfoot12
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Post by bigfoot12 on Feb 4, 2016 13:32:09 GMT
Since I have the sweep option enabled, I assume it'll just sit earning 3.75% in the QAA until manually withdrawn Yes, your assumption is correct subject to your amount being swept being less than £25k, and the QAA not being full. If the QAA is full, your money will queue. Recently the QAA has been expending so this hasn't been a problem, and in the future there are lots of loans promised which will create turnover through the QAA so time in a queue should be short. (Subject to lots of loans arriving.)
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