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Post by geraldine1210 on Sept 18, 2016 7:11:55 GMT
I'm annoyed that I had to reduce my prefunding and sell a few bits. Really frustrating. IMHO, geraldine1210 didn't have to do what she did. If I had no reason to believe that the transfer had gone amiss, and therefore that the money probably was in SS's account and SS just hadn't dealt with it because it was the weekend, then I would have acted as if it had been credited to my account and left my pre-funding as it was. My account subsequently might have looked like it was more negative than I would have wanted, but my experience with SS deposits suggests that when they finally got around to putting the money into my account they would backdate it to the date it actually was received and the resulting transaction list wouldn't show an excessive negative balance at all. You are probably right. Maybe I should have bitten on the bullet and let the negative balance grow to the level of my funding that was waiting to go through.
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spiral
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Post by spiral on Sept 24, 2016 12:46:02 GMT
Anyone had funds credited today?
Funds I sent last night are not yet credited. I appreciate it's Saturday but was wondering if I'm alone or others are in the same boat.
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david42
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Post by david42 on Sept 24, 2016 17:48:10 GMT
Anyone had funds credited today? Funds I sent last night are not yet credited. I appreciate it's Saturday but was wondering if I'm alone or others are in the same boat. I am in the same position. Funds I sent last night have not been credited today. Saving Stream usually has a payment run on Saturday morning. Today must have been an exception.
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jcb208
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Post by jcb208 on Sept 24, 2016 18:36:55 GMT
Savingstream should really decide If they are going to do a regular Saturday payment run or not at least we will know where we stand then
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mikes1531
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Post by mikes1531 on Sept 25, 2016 2:12:42 GMT
With so little available on the SM lately, perhaps SS didn't think anybody would need their account credited this weekend -- and decided to go sailing instead. (It might be their last opportunity before the storms hit!  ) |
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SteveT
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Post by SteveT on Sept 25, 2016 7:37:46 GMT
Savingstream should really decide If they are going to do a regular Saturday payment run or not at least we will know where we stand then Deposits and withdrawals are processed Monday - Friday (mornings). There have been occasional Saturday runs when major loans were launching but these are very much the exception, not the rule. Work on the basis of assuming Mon-Fri and you won't be disappointed.
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spiral
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Post by spiral on Sept 25, 2016 7:42:09 GMT
With so little available on the SM lately, perhaps SS didn't think anybody would need their account credited this weekend -- This was my first thought. In the past my weekend credits have been following a new launch so they're likely to have several to process as well as wanting the money in their account. My next question then is when this gets credited, will it appear as a Saturday transaction or Monday i.e. will my statement appear as £0 cash from yesterday or tomorrow?
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adrianc
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Post by adrianc on Sept 25, 2016 8:18:54 GMT
My next question then is when this gets credited, will it appear as a Saturday transaction or Monday i.e. will my statement appear as £0 cash from yesterday or tomorrow? From the time at which the payment is credited to your SS account. So, tomorrow morning.
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nick
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Post by nick on Sept 25, 2016 15:13:20 GMT
My next question then is when this gets credited, will it appear as a Saturday transaction or Monday i.e. will my statement appear as £0 cash from yesterday or tomorrow? From the time at which the payment is credited to your SS account. So, tomorrow morning. In my experience the credit is recorded per the date it is credited at their bank, ie if the transfer was by FP on the Saturday I would expect that the credit will be dated the same date on your statement once it gets recorded. Eg last week I made a deposit just before midnight on Wednesday which was processed by SS on Thursday with the credit dated Wednesday the cash transaction date.
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mikes1531
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Post by mikes1531 on Sept 25, 2016 18:39:51 GMT
In my experience the credit is recorded per the date it is credited at their bank, ie if the transfer was by FP on the Saturday I would expect that the credit will be dated the same date on your statement once it gets recorded. Eg last week I made a deposit just before midnight on Wednesday which was processed by SS on Thursday with the credit dated Wednesday the cash transaction date. That's my experience as well -- credit is dated when it arrived in SS account. This can create a situation where you receive a 'Please resolve negative balance' email but when you look at the running balance on the Transaction statement you don't find any negative balance at all!
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spiral
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Post by spiral on Sept 26, 2016 9:26:14 GMT
Well I can confirm that the money I sent Fri has a transaction date of today on my statement.
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mikes1531
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Post by mikes1531 on Sept 26, 2016 15:31:42 GMT
In my experience the credit is recorded per the date it is credited at their bank, ie if the transfer was by FP on the Saturday I would expect that the credit will be dated the same date on your statement once it gets recorded. Eg last week I made a deposit just before midnight on Wednesday which was processed by SS on Thursday with the credit dated Wednesday the cash transaction date. That's my experience as well -- credit is dated when it arrived in SS account. This can create a situation where you receive a 'Please resolve negative balance' email but when you look at the running balance on the Transaction statement you don't find any negative balance at all! Well I can confirm that the money I sent Fri has a transaction date of today on my statement. Every time I think I know how SS works... I find out I don't! 
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adrianc
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Post by adrianc on Sept 26, 2016 15:38:32 GMT
In my experience the credit is recorded per the date it is credited at their bank, ie if the transfer was by FP on the Saturday I would expect that the credit will be dated the same date on your statement once it gets recorded. Eg last week I made a deposit just before midnight on Wednesday which was processed by SS on Thursday with the credit dated Wednesday the cash transaction date. That's my experience as well -- credit is dated when it arrived in SS account. This can create a situation where you receive a 'Please resolve negative balance' email but when you look at the running balance on the Transaction statement you don't find any negative balance at all! If you're seeing the credit on the transaction, then it's been processed by them. It's the bit before that - when the credit has been received at SS's bank, but the staffer hasn't finished their first coffee and gone into the online banking yet - that's being asked about. IIRC various platforms's reps have explained that it's prohibitively expensive to have live connections between their online banking and their internal systems, so they're reliant on somebody going through and doing it manually.
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mikes1531
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Post by mikes1531 on Sept 26, 2016 16:50:15 GMT
That's my experience as well -- credit is dated when it arrived in SS account. This can create a situation where you receive a 'Please resolve negative balance' email but when you look at the running balance on the Transaction statement you don't find any negative balance at all! If you're seeing the credit on the transaction, then it's been processed by them. It's the bit before that - when the credit has been received at SS's bank, but the staffer hasn't finished their first coffee and gone into the online banking yet - that's being asked about. : Perhaps I didn't make myself clear. The scenario is... - On Day 1 you're allocated a bit of a new loan, or you buy something on the SM, and that gives you a negative balance.
- You make a bank transfer later on Day 1 to put your account positive again.
- The credit hasn't been applied to your account by early on Day 2, so the system sends you a 'Please resolve negative balance' email.
- Your bank transfer is acknowledged later on Day 2, credited to your account but dated the day it was received (Day 1), and your balance is positive again.
- You look at your Transaction statement, find your balance has been positive for all of Day 2, and wonder why you received that email.
It's not a big problem, but it might lead to some investors being confused. Simple ways to solve the problem are either to make sure all deposits have been credited to investors' accounts before generating those chasing emails, or not backdating the credits on the Transaction statement. Judging from spiral's message above, SS may have opted for the latter approach.
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elsee
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Post by elsee on Oct 25, 2016 16:34:24 GMT
Anyone else not had any deposits from yesterday credited yet? I have 3 showing and 1 missing (couldn't resist some of the stuff on offer so overspent!)
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