poppyland
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Post by poppyland on Jun 3, 2016 10:46:37 GMT
I got this email this morning at a time when I have over £3,800 in my available funds......what the hell is going on? The email also addressed me as Mr rather than Mrs. It makes me wonder if their site hasn't been broken into by someone.
Anyone else had the same problem?.........Here's the email.
3rd June 2016
Dear.............
You currently have a negative balance of £-10.98
Please make a bank transfer or sell loan parts to rectify this. Your investments could be cancelled if you do not resolve this matter.
If you have made a bank transfer that has not yet been reconciled, please disregard this email.
Kind regards,
The Saving Stream Team
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ben
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Post by ben on Jun 3, 2016 10:50:38 GMT
I got an email to resolve negative balance. Was pretty sure I did not have one, when logged in did not have one either.
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poppyland
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Post by poppyland on Jun 3, 2016 10:54:00 GMT
Glad to hear I'm not the only one, although it is rather disconcerting. I have emailed them to ask what is going on, and will post the reply here when I get it.
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Post by missydoom on Jun 3, 2016 10:54:20 GMT
Same here, no negative balance since yesterday and sold loan parts to cover so not just a 'waiting for reconciliation' issue.
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Post by wildlife2 on Jun 3, 2016 10:58:37 GMT
Me too, I resolved my negative balance last night  Must just be some error.
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Post by wiseclerk on Jun 3, 2016 11:58:26 GMT
it quoted my balance as of yesterday
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mikes1531
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Post by mikes1531 on Jun 3, 2016 12:52:52 GMT
I got an email to resolve negative balance. Was pretty sure I did not have one, when logged in did not have one either. Some of these emails appear to be sent in error because SS backdate deposits to the time they were received rather than the time they were posted to accounts. So an account may have a negative balance which triggers the email and then when a deposit is credited and backdated the period of negative balance disappears from the transaction statement so it looks like it never happened. It's one of the [presumably] unintended consequences of backdating.
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ped
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Post by ped on Jun 3, 2016 12:56:18 GMT
I had the email today, the negative balance was what I had at 5pm yesterday, after that I sold some loans and had a 1K positive balance by 8pm last night. I have ignored it and put it down to SS email system being very slow.
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poppyland
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Post by poppyland on Jun 3, 2016 13:16:58 GMT
Well, I did get an email from Saving Stream saying that they were sorry, and it was an error.
Another thing I noticed - did anyone else find this too - the restriction on selling loan parts until you have held them for 7 days seems to have been lifted (or maybe it was just temporarily).
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SteveT
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Post by SteveT on Jun 3, 2016 13:19:13 GMT
Well, I did get an email from Saving Stream saying that they were sorry, and it was an error. Another thing I noticed - did anyone else find this too - the restriction on selling loan parts until you have held them for 7 days seems to have been lifted (or maybe it was just temporarily). It's lifted as soon as your negative account balance is cleared.
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poppyland
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Post by poppyland on Jun 3, 2016 13:30:20 GMT
Is that how it works? I thought it was a bit odd that suddenly I was able to sell stuff I had only bought a couple of days before. This is good news for me because sometimes I put money into something less desirable in order to not have it sitting there doing nothing, and then when something better comes up I buy that and sell the other thing. It would be annoying to have to wait 7 days to be able to do this.
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sam i am
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Post by sam i am on Jun 3, 2016 13:36:09 GMT
Is that how it works? I thought it was a bit odd that suddenly I was able to sell stuff I had only bought a couple of days before. This is good news for me because sometimes I put money into something less desirable in order to not have it sitting there doing nothing, and then when something better comes up I buy that and sell the other thing. It would be annoying to have to wait 7 days to be able to do this. The problem is that when you buy the next loan, if this pushes you into negative territory, the 7 day restriction is then re-activated. So if the loan part you want to sell is less than 7 days old, you can't.
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poppyland
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Post by poppyland on Jun 3, 2016 13:40:54 GMT
It works out ok if you have a bit of money sitting in your "available funds". That must be why it all was ok for me when I was buying and selling frantically at 6am this morning!
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sam i am
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Post by sam i am on Jun 3, 2016 13:59:33 GMT
It works out ok if you have a bit of money sitting in your "available funds". That must be why it all was ok for me when I was buying and selling frantically at 6am this morning! Yes, if you stay positive there are no sale restrictions.
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boble
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Post by boble on Jun 3, 2016 14:05:57 GMT
It works out ok if you have a bit of money sitting in your "available funds". That must be why it all was ok for me when I was buying and selling frantically at 6am this morning! If you account then goes back into a negative balance, recent (up to 7 days) purchases are again suspended. I have been very puzzled by what was happening over the past 24 hours and so requested clarification. Here is the official explanation from SS: "The issue we have is that deposits simply credit your account they are not linked with purchases so we don't track if a loanpart has been paid for. Either a user has a positive balance or a negative balance. If a user has a positive balance then they can sell recent loanparts, if they have a negative balance they can't sell recent loan parts.
Our suggestion would be for you to place a float in your account of sufficient value to allow you to remain with a positive balance in order to sell what you want each day.
"
I had thought that once my account had returned to credit, sales of all recent purchases were permitted, and this was the reason for my confusion. However, as can been seen from the above, that is not the case. If you go back into negative, the restrictions are re-applied. Like poppyland, I invest short term in loans I don't really want to be in, just so that the funds are employed.
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Must just be some error.
