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Post by davee39 on Mar 15, 2016 16:45:24 GMT
The 2 to 4 working days would be consistent with BACS. I wonder if the Faster Payments system has failed causing payments to be diverted along the old route. We should start to see payments coming through from tomorrow (I can tell from by online Bank Statements which route was used for the payment). Sadly FC are rarely forthcoming with any detailed explanations when they hit problems.
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Post by Deleted on Mar 15, 2016 18:01:34 GMT
(Zopa, by comparison, still have 3 day withdrawals as stated, and are NOT overdelivering in this aspect of their service). Good luck to those of you staying with Zopa. I think an innovative company should make a strong stance in using all the possible (and cheap/free) means to help customers feel happier and have an easier management of money. Fast Transfers have been clearly there in the field for many many years and they do not cost the company more than BACS. So, the choice not to use it, is misterious for somone wanting to be leader in innovative finance solutions. Also RateSetter offers a next day FT withdrawal and it works perfectly well. (BTW: we talk about FT; but even when the FC withdrawal were working they were not real time FT... They were just next day rescheduled FT transfers. Again a step behind the potential best practices we should aim for in the future)
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Post by Deleted on Mar 16, 2016 8:25:41 GMT
An update:
Today is Wednesday 16 March and FC has still NOT PAID the money I requested on Friday 11 March, Saturday 12 March and Sunday 13 March.
Five days have gone since my request and the money in question seems to have vanished (not in my FC account and not in the bank!!!)
To add insults to injury FC has paid the (much smaller) sums I have requested on Monday 14 and even on Tuesday 15 March.
And these have been paid by FT automatically early this morning.
So even if FC seems unwilling to explain what happened, it looks to me extremely likely that it is their internal withdrawal requests routines that failed to register events on Friday, Saturday and Sunday. So FC effectively failed to pass those requests to their money processor (which is still perfectly working and in fact processed the following requests coming on Monday and Tuesday). I fail to understand why FC is not open about it and why is not doing an urgent manual repayment for the sums not paid automatically. My guess is that it is a rather basic database query the one to retrieve all affected accounts and few hours of administrative works for the repayments.
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Post by davee39 on Mar 16, 2016 8:57:50 GMT
My Monday payment has NOT appeared so the mystery continues.
HOR1997: A fix may be harder than you think. In my honorable career in IT support I managed to accidentally delete entire databases a couple of times (easy to do if you miss off a ';' from a delete query). Not an easy fix. We already know FC IT runs on a shoestring, and we cannot know the volume of stuck requests. Yes FC is a load of C***, that's why most posters here are pulling out. The positive here is that FC have admitted to a problem so we are not stuck in isolation pondering the missing cash.
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Post by trilby on Mar 16, 2016 9:09:15 GMT
I've received a withdrawal I made yesterday, but not one I made on Monday. So presumably "normal" service was resumed yesterday but withdrawals prior to that are still stuck in the Fiddly Cracks...
Edit: Although since hor1997 has received a withdrawal from Monday, it's likely that there was a cutoff time on Monday before which withdrawals took the slow route and after which they took the fast route. Hopefully my Monday withdrawal will arrive in due course.
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kt
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Post by kt on Mar 16, 2016 9:13:10 GMT
I believe the withdrawals are approved by-hand. So you are at the mercy of a human operator here.
Perhaps they scrolled right past yours.
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Mar 16, 2016 9:36:36 GMT
I can't even find a page on my FC account which lists my deposits and withdrawals over time. Is there one? (Or is my appointment with the lovely Kerry at Spec***ers later today a really urgent date?)  edit. Ah! Found them. Scrolling through about two miles of statement shrapnel including millions of 1 & 2p service charges!!!  (edit again: cross posted with stevet - thank you  ) Conclusion: My request of Friday 11 March appeared in my bank on Monday 14 March. My request of Saturday 12 March has not come through to my bank yet. |
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SteveT
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Post by SteveT on Mar 16, 2016 9:42:52 GMT
I can't even find a page on my FC account which lists my deposits and withdrawals over time. Is there one? (Or is my appointment with the lovely Kerry at Spec***ers later today a really urgent date?) There's no summary page but withdrawals appear as "FC Len Withdrawal" in the transactions statement (dated the day you request them rather than when the money hits your bank account)
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Post by Deleted on Mar 16, 2016 10:58:14 GMT
My Monday payment has NOT appeared so the mystery continues. HOR1997: A fix may be harder than you think. In my honorable career in IT support I managed to accidentally delete entire databases a couple of times (easy to do if you miss off a ';' from a delete query). Not an easy fix. We already know FC IT runs on a shoestring, and we cannot know the volume of stuck requests. Yes FC is a load of C***, that's why most posters here are pulling out. The positive here is that FC have admitted to a problem so we are not stuck in isolation pondering the missing cash. I have written (and am writing) code at very high standards for decades. While we don't know the precise details, as FC will not reveal them, I can certainly say for sure that: - the main transation dB is unaffected (I have mine working and other users have reported the same here) - it is extremely easy for those having access to it to extract a list of all the withdrawal requests in a certain date/time range So, assuming the problem was in the routine creating the list to be passed to the withdrawal process (or in the link to this withdrawal process) and was between Friday afternoon and Monday morning, I would have done the following: - put an expert member of the team to check the problem, looking for the cause/bug in the code that created it and try to solve it, making the system once again working and stable (and I think this has been done, as at least all tuesday withdrawals seems to have come trough already in full). - ask to another member of the team to extract the list of withdrawals and remove from this list all the withdrawals which went trough (list provided with 100% certainty by the payment processor). This is a simple 1 hour task for any dB programmer. - get the list of 'missed payment' (and related bank accounts) to an administrative staff an ask him/her to do immediate FT manual payments from an FC available account and at the same time remove them from the processing queue (if they ever been there). The numbers cannot be huge. FC has 47.818 investors. Assuming (being extremely conservative in this) that 2% of them ask a withdraw in a week (so say 1% have asked a withdraw in that non-working time window) it is extremly likely that less than 400 transactions need to be solved/manually done. (this is a conservative assumption not having the full data, but thinking it was the week-end and probably most investors in FC are 'stable' it is possible that in reality the affected transactions are less than 100). If the above was planned properly (as any serious company would do, as a backup for software/hardware/links failures) and executed properly on the first day (instead of the advice FC said they put up on Monday evening), the problem would probably have been solved with much less disruption with everyone receiving their funds yesterday afternoon, i.e. tuesday) and most affected customers not even taking too much of a notice of it.
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tomtom
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Post by tomtom on Mar 16, 2016 17:46:17 GMT
just for record i transferred cash from fundingsecure at 3.30pm this afternoon and it was in my account by 5.45 pm this afternoon, i have withdrawn cash from funding circle on the 12th and 13rd of this month and the cash is still not in my account: this just shows the very poor service we are getting on this site.
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mikeh
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Post by mikeh on Mar 17, 2016 9:13:27 GMT
Monday's withdrawal just come through.
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nick
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Post by nick on Mar 28, 2016 22:47:05 GMT
What are current withdrawal times people are experiencing - is it back to next day if request is given in the morning?
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min
Member of DD Central
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Post by min on Mar 29, 2016 6:13:10 GMT
What are current withdrawal times people are experiencing - is it back to next day if request is given in the morning? Thursday's withdrawal came through this morning but other withdrawals from the weekend yet to show. Mind you probably the bank holidays have messed up the normal 'efficient' service. Certainly the system can't cope with repayments so not surprised it can't cope with withdrawals.
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Post by Deleted on Mar 29, 2016 7:03:48 GMT
Once again the incredible FC team has been surprised by the bank holidays (not that they are written years earlier in any scheduler....).
Withdrawals are back to 'random' times. My Friday and Monday withdrawals have not come through.
Also repayments (even those internal FC-FC, i.e. property loans) are in late/retry mode.
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nick
Member of DD Central
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Post by nick on Mar 29, 2016 7:15:51 GMT
Once again the incredible FC team has been surprised by the bank holidays (not that they are written years earlier in any scheduler....). Withdrawals are back to 'random' times. My Friday and Monday withdrawals have not come through. Also repayments (even those internal FC-FC, i.e. property loans) are in late/retry mode. Great. They have previously told me that since they moved to faster payment that you should see withdrawals early next day if you submit your request before early afternoon (not defined) - obviously doesn't apply at weekends or bank holidays. I wasn't sure whether things were back to normal and that they are still using faster payments after the problems they seemed to have a few weeks back, but it seems from your experience that things have gone back to normal.
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(edit again: cross posted with stevet - thank you 
) 
