mikes1531
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Post by mikes1531 on Apr 26, 2014 20:13:10 GMT
I invest in Assetz both through my Ltd Company and as an individual.
I have just experienced a 'glitch' in the system. Log onto Assetz in my personal capacity and transfer some money in using my personal Go Cardless password. Invest the money. Log off. Log on as Ltd Co. Say I want to transfer £XXX in. No password requested (different passwords for personal and Ltd Co) just the usual completion 'congratulations' message.
The money has been transferred from my personal account into my Ltd Co Assetz account.
Obviously the separation is not as compete as I would expect. I've noticed that if I try to do a second GoCardless transfer shortly after I've done one, I find I'm still logged in to GC. But I am still shown the confirmation screen so that I can see enough details of the account GC is going to charge that I know it's the right one. I haven't a clue how long the GC sign-in will stay active before timing out, and I've never noticed whether there's a sign-out option on the confirmation screen. Presuming there's a GC website, you might be able to go there and sign out. Further to the above, I've discovered that there's a line at the top of the GC confirmation screen stating the email address you are logged in as. It contains a 'Not you?' link. I didn't try that, but usually that logs you out and/or allows you to log in as a different user. HTH
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duck
Member of DD Central
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Post by duck on Apr 27, 2014 5:41:28 GMT
Thanks for the responses.
Yes you can change user at GoCardless - you need to do that to download the two different statements. I can only assume that you remain logged into GoCardless for 5 minutes at minimum. In future I will look for the 'not you' prompt - admit I didn't look for it but I wasn't given much chance this time!
What is clear is that changing accounts on Assetz doesn't break the link to GoCardless .... which is what I wanted to highlight.
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Post by chris on Apr 27, 2014 11:12:46 GMT
I always amazes me why these firms are happy to lose customers altogether & lose their income in the process instead of making a sensible decision of increasing fees reasonably & retaining custom. Probably greed. And a misplaced feeling that, now that they've build up a steady stream of business providing a service that lots of people are happy to use, they can push their prices skywards and inertia will cause people to continue to use the service despite the increased fees. This is where the concept of the ' economic moat' applies -- if they don't have a big one, and I don't think GC do, then they're going to lose out to new startups trying to get going, and who may fall into the same trap a year later and lose out to... etc., etc. I actually suspect it's to do with their recent VC fund raise. As has been pointed out we are in the process of switching as for us any transfer over £200 via GoCardless is already more expensive than a debit card system. With the fee cap we lived with that as GC was convenient and the debit card providers have historically been a pain to work with, and several refuse to work with P2P platforms, despite there being a small fraud risk with GC. However GC's shift in fees has made their solution completely impractical for us. Within the next week or two we'll be switching over to a debit card solution. Of course the current bank transfer mechanism will continue to work as well, and we're in talks with a new provider who can help give us a close to real time feed from the bank account drastically speeding up how long it takes to transfer money in that way. At some point we may also create our own GC like Direct Debit solution. I'm certainly keen on doing so as resources allow and any hurdles within the banking industry are overcome. The bug mentioned in the last couple of posts does indeed look like a GC session issue that we won't be able to correct from our side.
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duck
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Post by duck on Apr 27, 2014 13:44:36 GMT
I agree and IMHO if it is known about it is relatively easy to work around. I've now worked out how a similar 'event' happened at the end of last month which means I have a convincing argument for my accountants at year end  |
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