star dust
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Post by star dust on Jul 2, 2016 10:26:10 GMT
Furthermore, we receive an automated 'withdrawal request' email, when it would be far more useful to receive an email, notifying us of when funds have been processed and returned. I get them, there is a tick box in account, email preferences, both emails - request and processed - are optional. That's how I know the time of yesterday's withdrawal run 
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david42
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Post by david42 on Jul 2, 2016 21:09:01 GMT
I get them, there is a tick box in account, email preferences, both emails - request and processed - are optional. That's how I know the time of yesterday's repayment run Yes, mine is checked too, but I don't receive any notifications for withdrawals having been processed, only made. I receive an email from Saving Stream saying "We are pleased to confirm your withdrawal has been processed and should now be in your account". A minute later I get an email from my bank saying the money has arrived. I used to miss a lot of Saving Stream emails before I changed my email provider from Yahoo.co.uk to Zoho.com.
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adrianc
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Post by adrianc on Jul 3, 2016 8:05:00 GMT
Due to having a withdrawal request processed, sent and received one morning, but not receiving another one that was made some minutes later, and subsequently being told that the second withdrawal had missed the cut-off time, I emailed Tim the following:-
Good morning Tim,
Whilst I appreciate that processing deposits and withdrawals can be time consuming, making it hard to announce what time funds will be received, seemingly you have an official cut-off time for withdrawals to be requested in order for them to be processed that day. May I ask what time that is please?
Many thanks in advance.
Kind regards
********The response I rece ived was:-
Hi ********
This is not fixed in stone, generally withdrawals will be processed between 8am-10am each weekday.
Kind regards,
Customer Services Team
Saving Stream
Somewhat evasive, as this wasn't what I asked. If there is a cut-off time for making withdrawal requests, then there is no reason not to make it official - I was not asking for a time that the funds would be processed, and/or received. Furthermore, we receive an automated 'withdrawal request' email, when it would be far more useful to receive an email, notifying us of when funds have been processed and returned. Sounds to me that it's exactly the answer to what you asked. You asked "What's the cut-off time?" They answered "Anything received before we start the run is processed, and we start it between 8 and 10am". They could put a fixed cut-off in place, but it'd be around 8am. All that'd achieve is deliberately ignoring some requests that are currently processed, between 8am and whenever whoever does the run gets into the office, makes a coffee, and gets started...
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Post by retired2005 on Jul 3, 2016 8:36:59 GMT
Was there a banking run yesterday? I put in two withdrawal requests Friday (mine and OH) and received nothing .....?
THanks as always........
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ben
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Post by ben on Jul 3, 2016 9:03:45 GMT
Does not look like it, I expect it be done tommorow.
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adrianc
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Post by adrianc on Jul 3, 2016 9:55:33 GMT
Sounds to me that it's exactly the answer to what you asked. You asked "What's the cut-off time?" They answered "Anything received before we start the run is processed, and we start it between 8 and 10am". No - I was initially told that there was 'a' cut-off time, And there is. It's the time at which the processing run starts. <shrug> Then mentally pencil-in 8am, and some of the time you'll be pleasantly surprised...
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adrianc
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Post by adrianc on Jul 3, 2016 11:30:32 GMT
And there is. It's the time at which the processing run starts. How do you know that? Did their response state that? No, it merely stated a two hour time-slot for processing - not a cut-off time for withdrawals requests. The cut-off time is the start of the processing run. Whatever time that might be. But we know it's between 8am and 10am. Because the run won't start before 8am. SS could easily just state 8am, and not process anything coming in between 8am and whenever it actually starts. But they don't - they say they'll process anything that's in when the processing starts... Would you prefer that they did ignore your request that came in an 8.05am, and deliberately left it until the following day? Seems to me that you're looking to take offence at something here.
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jonno
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nil satis nisi optimum
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Post by jonno on Jul 3, 2016 11:39:04 GMT
Look guys, without wishing to take sides and in an effort to be helpful, isn't it the following:
If you want to make SURE your transaction is actioned, do it BEFORE 8am;
if you HOPE your transaction might be completed, do it BETWEEN 8am and 10am;
if you really can't be ar*ed either way do it whenever.
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skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
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Post by skippyonspeed on Jul 3, 2016 11:45:47 GMT
I find it bizarre that in 2016 they are processing payments manually, as I said earlier the payment I made on Friday about 2pm was instantaneous 'cos it was all within Barclays with a ref. no. which I assume is unique to me.........I mean hard can it be.
Now, here we are Sunday and I have about 20 transactions all frozen because of the 7 day rule, unless I sell some older ones......which I don't!!
To add insult to injury, I'm half expecting to get an automated e-mail (or 3!!) telling me I have a negative balance!
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adrianc
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Post by adrianc on Jul 3, 2016 11:54:19 GMT
The cut-off time is the start of the processing run. Whatever time that might be. But we know it's between 8am and 10am. Nowhere does it state that, so whatever you say, it is purely based upon your own assumption/s, so we don't know anything. Well, yes. I am assuming that they aren't processing requests that are received after the run...
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adrianc
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Post by adrianc on Jul 3, 2016 11:56:02 GMT
I find it bizarre that in 2016 they are processing payments manually, as I said earlier the payment I made on Friday about 2pm was instantaneous 'cos it was all within Barclays with a ref. no. which I assume is unique to me.........I mean hard can it be. There've been various posts in various forums from various platforms explaining that one - basically, it's prohibitively expensive to integrate the systems with the online banking, because of the fees that the banks would charge. It's much, MUCH cheaper to have Sharon the office junior go through a printed list of requests. Crazy, perhaps. But we've been told many times that it's true. And it's outside of the P2P platform's control.
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skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
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Post by skippyonspeed on Jul 3, 2016 12:28:35 GMT
Seems like Sharon needs some FFF training then!!!  |
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jonno
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nil satis nisi optimum
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Post by jonno on Jul 3, 2016 12:59:50 GMT
Look guys, without wishing to take sides and in an effort to be helpful, isn't it the following:
If you want to make SURE your transaction is actioned, do it BEFORE 8am;
if you HOPE your transaction might be completed, do it BETWEEN 8am and 10am;
if you really can't be ar*ed either way do it whenever. It's kind of you to try to calm this but unfortunately, it looks like that in this particular case, the Friday morning payment run was run at 7am. I'm sure this wasn't intended to prevent people withdrawing their interest but that was the effect for me and obviously it's a little disappointing. I certainly hope it doesn't happen next time the first of the month falls on a Friday. Ah well, that's my bid for a job at the U.N. shot down in flames 
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ilmoro
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Post by ilmoro on Jul 3, 2016 14:39:45 GMT
Im sure SS will solve the problem next time ... by not processing interest payments until midday as before. That way there will be no doubt the withdrawl cutoff point has been missed and we can go back to spending the morning posting about why the interest hasnt been paid.
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sl75
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Post by sl75 on Jul 4, 2016 7:16:33 GMT
The issue is that SS add the interest to our accounts on the first day of the month, or maybe the first working day, but backdate the credit to the last day of the previous month. So although my credits actually were made today (1/Jun) on my list of Transactions they appear with a date of 31/May. AIUI, that's backdating, and IMHO that should be avoided. Worth saying SS are not alone in doing this - I know Lloyds, Halifax, BoS and TSB backdate interest credits this way on their current accounts for starters.... Not to mention practically every credit card I've had back-dates the transaction onto the date it actually occurred, rather than the date that their systems processed it. (Some have shown both dates, presumably to keep the ultra-pedantic happy) Edit: just realised I was responding to a post over a month old - for some reason the forum software was treating the entire thread as unread, and I didn't notice the month!
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