jimbob
Member of DD Central
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Likes: 74
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Post by jimbob on Jun 3, 2016 10:39:50 GMT
Just got a 'please resolve negative balance' email for yesterday's prefund which I FPed almost immediately. Makes me feel a bit naughty, even though I'm doing things correctly. Same here, and immediately after receiving it my balance was updated on SS ! 
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Post by betterthanworking on Jun 3, 2016 10:44:54 GMT
Just got a 'please resolve negative balance' email for yesterday's prefund which I FPed almost immediately. Makes me feel a bit naughty, even though I'm doing things correctly. Same here, and immediately after receiving it my balance was updated on SS ! Me too, on both of my accounts.
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Post by pepperpot on Jun 3, 2016 10:51:04 GMT
Yeah, had the same happen before to me. If the 'please resolve' emails and the crediting of deposits were both automated so the former was done 1 minute after the latter, that would save a lot of unnecessary emails going out.
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ben
Posts: 2,020
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Post by ben on Jun 3, 2016 10:52:29 GMT
They seemed to have been doing banking runs pay in twice a day sometimes as a few afternoons I have had confirmation of pays in.
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Post by trilby on Jun 3, 2016 11:09:54 GMT
Yeah, had the same happen before to me. If the 'please resolve' emails and the crediting of deposits were both automated so the former was done 1 minute after the latter, that would save a lot of unnecessary emails going out. It usually does work that way, but seems to go wrong sometimes and gives the "please resolve negative balance" mail immediately followed by a deposit confirmation mail that resolves the problem. In the one instance that has happened to me, the negative balance shown in the mail bore no relation to the actual negative balance before the deposit, which was doubly baffling!
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warn
Member of DD Central
Curmudgeon
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Post by warn on Jun 3, 2016 16:37:56 GMT
I got a "Please Resolve" note halfway through this morning, having cleared my negative by selling something late afternoon yesterday -- which had as usual been instantly reflected in"My Account". So I sent a polite email wondering whether this was a whoops-scenario, and had a polite response confirming that it indeed was. I'm sure they'll get this stuff sorted eventually.
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littleoldlady
Member of DD Central
Running down all platforms due to age
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Post by littleoldlady on Jun 4, 2016 19:57:34 GMT
I am surprised that this needs any involvement from their bank. Providing they have on-line access to their account (like I have had for 15+ years) why can't they simply write their code to interrogate it? Some cost, if they don't do their own IT, but not a lot. That is possible (known as screen scraping) and is a really poor, brittle and easily broken integration. They need permission from the bank to use secure APIs so that their servers can talk directly to the bank's with an agreed interface subject to a contract that won't change arbitrarily. There is a half way house between screen scraping and APIs. I assume that Barclays offer the facility to download transactions. This ought to be secure enough to credit the SS account. After all, a manual version of this must be how they do it at present. If the deposit is settling a negative balance there is very little risk and I assume that if someone tries to withdraw cash from a positive balance under the current system they somehow check that there really is money there.
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Post by GSV3MIaC on Jun 4, 2016 21:13:53 GMT
I believe (one of the other platforms probably stated) that there is a charge for business accounts to download (or use the API) every time they pull the trigger, hence the reluctance to do so too often.
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Post by chris on Jun 4, 2016 21:27:37 GMT
I believe (one of the other platforms probably stated) that there is a charge for business accounts to download (or use the API) every time they pull the trigger, hence the reluctance to do so too often. That's via the API. littleoldlady the downloadable statements, at least with our bank, are for the previous working day only. So that doesn't get you instant deposits.
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cooling_dude
Bye Bye's for the PPI
Posts: 2,853
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Post by cooling_dude on Jun 4, 2016 21:51:47 GMT
Has there been any actual confirmation provided by savingstream about this potential new feature? boble; can you let us know where you got this information from, please? |
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boble
Posts: 150
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Post by boble on Jun 4, 2016 23:21:12 GMT
Has there been any actual confirmation provided by savingstream about this potential new feature? boble ; can you let us know where you got this information from, please? On the day of my original post, I emailed SS to say that due to the new rules regarding credit balances, it was only fair that a system of "real time" credits should be introduced. They confirmed their agreement and that they were looking into this with their bank. They said that for complex security reasons the setting up of a direct link between the SS accounts system and their banks system, to enable them to "talk" to each other would take longer than they had hoped. I asked if it would be OK for me to share this development on this forum; which they agreed too.
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cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
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Post by cooling_dude on Jun 4, 2016 23:29:00 GMT
Has there been any actual confirmation provided by savingstream about this potential new feature? boble ; can you let us know where you got this information from, please? On the day of my original post, I emailed SS to say that due to the new rules regarding credit balances, it was only fair that a system of "real time" credits should be introduced. They confirmed their agreement and that they were looking into this with their bank. They said that for complex security reasons the setting up of a direct link between the SS accounts system and their banks system, to enable them to "talk" to each other would take longer than they had hoped. I asked if it would be OK for me to share this development on this forum; which they agreed too. Thank you for the reply boble  "Looking into this with our bank", isn't concrete; I quietly hope they don't because it may see the end of INPL...
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boble
Posts: 150
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Post by boble on Jun 5, 2016 8:59:18 GMT
On the day of my original post, I emailed SS to say that due to the new rules regarding credit balances, it was only fair that a system of "real time" credits should be introduced. They confirmed their agreement and that they were looking into this with their bank. They said that for complex security reasons the setting up of a direct link between the SS accounts system and their banks system, to enable them to "talk" to each other would take longer than they had hoped. I asked if it would be OK for me to share this development on this forum; which they agreed too. Thank you for the reply boble "Looking into this with our bank", isn't concrete; I quietly hope they don't because it may see the end of INPL... You could be right CD; however, based on my experience in recent days, I think that for investors who are very active on the platform, it is going to be almost essential that that a credit balance is maintained.
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boble
Posts: 150
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Post by boble on Aug 12, 2016 13:03:43 GMT
Many investors be delighted to learn that Saving Stream are currently working very hard with their bank to set up a live link which will enable credits received into their bank to show on Saving Stream's investor accounts almost instantly. This is taking longer for SS to set up than initially anticipated, due to the resolution of a number of security issues, however, I am assured it is happening. In practice, this will mean that funds received into Saving Stream's bank by Fastpay will show in the investor account almost immediately, however, payments sent by BACS will have to clear the banking system in the usual way. I recently requested an update from SS on this and was advised in effect, that they are still trying to set this up with their bank, however, it is complex. I am a little puzzle by this, as I operate numerous accounts which are updated in real time. My view is that real time credits are an necessary part of the SS platform, both in terms of what is fair and equitable, and for much improved liquidity on the SM. Tim and Liam, please note.
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bloodycat
Member of DD Central
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Post by bloodycat on Aug 12, 2016 14:28:39 GMT
The complexity is in that SS would need to use the bank's API to connect and get the data which almost certainly requires jumping through lots of hoops for security.
They probably do have live updating now via their banks online banking portal, but getting the information from that is a manual process hence why they only do it once a day.
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