skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
Posts: 787 
Likes: 424
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Post by skippyonspeed on Oct 11, 2016 18:21:06 GMT
I don't seem to have a problem. Their emails telling me if I have a negative balance always arrive, sometimes two at a time!  |
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Post by Deleted on Oct 12, 2016 1:05:01 GMT
I got 3 emails for the same deposit yesterday! Unfortunately, they didnt credit my account 3 times  |
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Post by dodgeydave on Oct 12, 2016 1:39:14 GMT
Larger amounts; at what amount (roughly) would Currencyfair be cheaper than Transferwise? If I remember correctly, transferwise charges 0.5percent of the amount after eur 500, currencyfair charges eur 3 for each transaction, so for payments higher then eur 600 currencyfair should be the better alternative from the transactioncosts perspective. A big part plays the exchange rate, and I really dont know if cf is better in that regard. It might as well be, that both tw and cf charge different in the uk. currencyfair has a referal program, so that the first transaction is free of charge for the new member and if the transaction is higher then eur 400 or equivalent in any other currency, both the signee and the referee get a bonus of eur 30. there is such a link on my blog or I can pn If anybody is interested in such a referal link. at mods, I hope I am within the rules with this post, if not, please delete and accept my appologies. When i transfer money out of the UK i use HiFx or Global reach partners. Everyone goes on about the charges you also need to look at the exchange rate. Charges mean nothing without a good rate.
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bababill
Member of DD Central
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Post by bababill on Oct 12, 2016 2:43:30 GMT
Worldfirst is good too. minimum or no fees and and good rates.
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Post by buttchopf23 on Oct 12, 2016 6:22:26 GMT
Of course exchange rates are important, as I stated in my post. Currencyfair states that there can be spreads from 0 to 0.65%, depending on how many users are willing to exchange.
A nice feature of currencyfair is that you can wire the money and set an exchange rate. When that rate is achieved, the money will instantly converted.
I will look at the other services, didnt know them.
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JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,323
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Post by JamesFrance on Oct 12, 2016 8:27:11 GMT
HiFx and WorldFirst are foreign exchange brokers so profit from a buy/sell spread. Currencyfair and Transferwise arrange peer to peer exchanges so you can achieve a better rate with them. I used to use a broker before I discovered CurrencyFair a few years ago and always use them now by using their market to get an even better rate than that offered instantly.
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nick
Member of DD Central
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Post by nick on Oct 12, 2016 12:15:51 GMT
I regularly move money in and out and I've never had a problem. The earliest cut-off/processing time I've experienced is 6.10am and the latest 2pm, so if I'm moving money I try to initiate the transfer before 6 am. All my transfers are in sterling so don't have any of the complications of foreign transfers.
I did recently have an issue with receiving (not) an affiliate credit and my support email seemed to get lost and I had to chase with two more emails before getting a response stating that they had resolved by query 5 days after my original email. However, they are normally very responsive and usually respond same/next day. If you have radio silence for 2 days I suspect the email has fallen through the gaps.
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bababill
Member of DD Central
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Post by bababill on Oct 12, 2016 12:23:05 GMT
Google Transferwise and FT and
Izabella Kaminska.
Few good articles written by the author about "What exactly is Transferwise?'"
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stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
Posts: 1,447
Likes: 945
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Post by stub8535 on Oct 17, 2016 22:52:06 GMT
Returning to the title basis can anyone beat this. Sent message to customer service contact on 2.10 about a loan with 7 days remaining. After 5 days followed up. Another 2 follow up messages all preceding unanswered. Snotogram today 17.10 got response that loan will continue to role over until repayment is made.  cs. Why is this loan not treated like Hull loan, new loan introduced and old one paid back. Who decides whether to extend or to roll into new loan? Maybe ss, or company, did not have a good situation to report back which a new loan would need? Raised loads of questions so I sold out. Will be doing so with the rest of my loans over the next few month if ss dont extract their digits and add a degree of predictability into their actions. And we thought p2p was to compete with banks! Oh, wait a minute, long lead times to get answrrs was rife in banking sector! Oh no, p2p are morphing into banks!!!
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
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Post by ilmoro on Oct 17, 2016 23:02:24 GMT
Returning to the title basis can anyone beat this. Sent message to customer service contact on 2.10 about a loan with 7 days remaining. After 5 days followed up. Another 2 follow up messages all preceding unanswered. Snotogram today 17.10 got response that loan will continue to role over until repayment is made. cs. Why is this loan not treated like Hull loan, new loan introduced and old one paid back. Who decides whether to extend or to roll into new loan? Maybe ss, or company, did not have a good situation to report back which a new loan would need? Raised loads of questions so I sold out. Will be doing so with the rest of my loans over the next few month if ss dont extract their digits and add a degree of predictability into their actions. And we thought p2p was to compete with banks! Oh, wait a minute, long lead times to get answrrs was rife in banking sector! Oh no, p2p are morphing into banks!!! Because the Hull loan was an increased loan not just the same loan continued. Loans are only relaunched when there is a change in the loan, either a move to a DFL or an change in the sum lent, other wise they are extended either on an adhoc or formal basis. The borrower covers the interest only a monthly (negative days) or in advance (formal extension and update to days remaining) until repayment/default. Exit is via the SM, interest paid monthly as normal As for the CS issues, par for the course Im afraid, Ive lost track of the number of unresponded enquires I have (well, not rue as I have them all in a folder)
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stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
Posts: 1,447
Likes: 945
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Post by stub8535 on Oct 18, 2016 6:38:18 GMT
Thanks ilmorro
Loan investigation shows material change that reduces stability of the collateral and the business plan but that's ok for ss to just extend ad infinitum?
I suppose ss get great fees each time so why would they bother doing further research, to ensure loan is secure, as their money is not in the game as an investment? Could it be that ss would have no costs by doing it this way as, to do further research or get a new report or company accounts assessed eats into ss profits.
Ss should, imho at the very least, give an ongoing update about the company that includes, where available, more up to date accounts and comments about changes in the business environment for the company. E.g a major backer walking away or a change in local planning that impacts the original path to revenues.
As for the strategic, from a lenders perspective, planning I would be more likely to buy a loan on sm that has 3 or 6 months to go than one that is rolling indefinitely. What are investors thoughts on this?
I don't think ss will respond to these questions or suggestions anytime soon judging on past performance.
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Liz
Member of DD Central
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Post by Liz on Oct 18, 2016 7:11:33 GMT
Thanks ilmorro Loan investigation shows material change that reduces stability of the collateral and the business plan but that's ok for ss to just extend ad infinitum? I suppose ss get great fees each time so why would they bother doing further research, to ensure loan is secure, as their money is not in the game as an investment? Could it be that ss would have no costs by doing it this way as, to do further research or get a new report or company accounts assessed eats into ss profits. Ss should, imho at the very least, give an ongoing update about the company that includes, where available, more up to date accounts and comments about changes in the business environment for the company. E.g a major backer walking away or a change in local planning that impacts the original path to revenues. As for the strategic, from a lenders perspective, planning I would be more likely to buy a loan on sm that has 3 or 6 months to go than one that is rolling indefinitely. What are investors thoughts on this? I don't think ss will respond to these questions or suggestions anytime soon judging on past performance. SS ultimately 'pays' when the PF pays out, so it is in their interest to protect security.
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pom
Member of DD Central
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Post by pom on Oct 18, 2016 7:13:24 GMT
Thanks ilmorro Loan investigation shows material change that reduces stability of the collateral and the business plan but that's ok for ss to just extend ad infinitum? I suppose ss get great fees each time so why would they bother doing further research, to ensure loan is secure, as their money is not in the game as an investment? Could it be that ss would have no costs by doing it this way as, to do further research or get a new report or company accounts assessed eats into ss profits. Ss should, imho at the very least, give an ongoing update about the company that includes, where available, more up to date accounts and comments about changes in the business environment for the company. E.g a major backer walking away or a change in local planning that impacts the original path to revenues. As for the strategic, from a lenders perspective, planning I would be more likely to buy a loan on sm that has 3 or 6 months to go than one that is rolling indefinitely. What are investors thoughts on this? I don't think ss will respond to these questions or suggestions anytime soon judging on past performance. None of this is new news I'm afraid or likely to change in the short term as there are enough people putting up with it.
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mikes1531
Member of DD Central
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Post by mikes1531 on Oct 18, 2016 19:51:07 GMT
SS ultimately 'pays' when the PF pays out, so it is in their interest to protect security. : That is the theory. It does, however, depend on two things -- 1) The discretionary PF paying out in the first place; and 2) SS/Lendy topping the PF back up to the 2% level afterwards. We've seen enough evidence of SS changing their policies without warning that I'm not prepared to believe what they say they're going to do until they actually do it. And, unfortunately for them, their past inconsistent behaviour will tend to make people not believe they'll do what they say they will if a similar situation were to occur in the future even if they've done it once already. I expect some others feel similarly. Which is why we're all waiting to see exactly how the PBL020 loan is resolved. Or any other loan that may need to go through a 'recovery' process.
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Liz
Member of DD Central
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Post by Liz on Oct 18, 2016 20:01:23 GMT
SS ultimately 'pays' when the PF pays out, so it is in their interest to protect security. : That is the theory. It does, however, depend on two things -- 1) The discretionary PF paying out in the first place; and 2) SS/Lendy topping the PF back up to the 2% level afterwards. We've seen enough evidence of SS changing their policies without warning that I'm not prepared to believe what they say they're going to do until they actually do it. And, unfortunately for them, their past inconsistent behaviour will tend to make people not believe they'll do what they say they will if a similar situation were to occur in the future even if they've done it once already. I expect some others feel similarly. Which is why we're all waiting to see exactly how the PBL020 loan is resolved. Or any other loan that may need to go through a 'recovery' process. The point is that it isn't in SS's interest to write dubious loans. Platform reputation loss and financial loss. Other platforms where the platform has no 'no skin in the game', might have more of an incentive to 'promote' dubious/dross/filth loans.
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cs.
