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Post by pepperpot on Nov 7, 2016 15:19:48 GMT
We promote transparency and it is being discussed. The "black box" phenomena is one I don't like personally. I didn't think you'd fall for my "reverse psychology" ploy.  P.S. I think the rates you pay us are too high.
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Post by andrewholgate on Nov 7, 2016 16:01:13 GMT
We promote transparency and it is being discussed. The "black box" phenomena is one I don't like personally. I didn't think you'd fall for my "reverse psychology" ploy. P.S. I think the rates you pay us are too high. As of tomorrow, I'm adjusting your QAA account to pay 2%, or maybe even 1%
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Post by pepperpot on Nov 7, 2016 16:10:41 GMT
I didn't think you'd fall for my "reverse psychology" ploy. P.S. I think the rates you pay us are too high. As of tomorrow, I'm adjusting your QAA account to pay 2%, or maybe even 1% Thank you.  <damn, note to self, never play poker with AH>
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littleoldlady
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Post by littleoldlady on Nov 7, 2016 17:11:29 GMT
Can I clarify some points?
Is money that is earning interest, even if it is shown in the cash account, classified as investment money at risk of loss and not Client Money, and vice versa.
Is the risk of loss on money in the QAA the same as or similar to money in the other accounts paying much higher rates of interest?
When Santander announced a cut in rates on their popular 123 account from 1st Nov I predicted a lot of money looking for a new home. Is there any sign that this has reached the QAA?
How can I tell if there is any spare capacity in the QAA?
If I try to make a direct payment into the QAA account but there is no capacity where does the money go?
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mikes1531
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Post by mikes1531 on Nov 7, 2016 17:13:35 GMT
Even though your QAA says you have nothing invested? I'm using the scenario quoted with the proceeds of a bond while I decide what exactly to do with it. My QAA balance is <0.01 but everything is swept into it. : From what you say, it doesn't look to me like the sweep facility is turned on for all your sub-accounts. My MLIA shows I have a few pounds awaiting investment, and my QAA shows that amount in it. If I click on the 'Show More' link in the QAA section of my Dashboard, I'm shown what part of my QAA balance is from Direct Investment and what portion is 'Lent from Idle Funds'. If I hover my cursor over the latter, it tells me where those swept funds came from -- Cash/GBBA/GEIA/MLIA. If your QAA balance really is <0.01, your other accounts show idle cash, and you want those idle cash balances to be earning 3.75%, then something needs changing. If you can't work out how, give AC a ring and get some assistance. HTH
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elsee
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Post by elsee on Nov 7, 2016 18:09:09 GMT
mikes1531I think my QAA is correct (all the totals add up and the reports show the movements) but I probably didn't pose my scenario clearly enough. My thinking was .... if liquidity is poor and you need your money fast.... if it's swept then your cash and/or MLIA show a balance you can withdraw instantly from those accounts whereas if it's invested you have to withdraw from the QAA and perhaps you could find yourself in a queue? Perhaps there's some coding behind the scenes that means in both cases you'd end up in the same queue. My <0.01 is QAA interest from October still waiting to be reinvested. 
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Post by pepperpot on Nov 7, 2016 19:19:33 GMT
Can I clarify some points? Is money earning interest, even if it is shown in the cash account, classified as investment money at risk of loss and not Client Money, and vice versa. Is the risk of loss on money in the QAA the same as or similar to money in the other accounts paying much higher rates of interest? When Santander announced a cut in rates on their popular 123 account from 1.11 I predicted a lot of money looking for a new home. Is there any sign that this has reached the QAA? How can I tell if there is any spare capacity in the QAA? If I try to make a direct payment into the QAA account but there is no capacity where does the money go? Direct investment into QAA ranks equally with 'swept' investment from other accounts. It is all in QAA so therefore 'at risk' and interest bearing, albeit imho low risk (currently). Swept money is instantly withdrawn when it is given another priority, i.e. a purchase via MLIA/GBBA/GEIA or a withdrawal instruction from the Cash Account to your bank or another of AC's accounts (again, the instant part is 'currently'). I've not been watching the total investment level for a while, but from memory the QAA/30DAA total doesn't seem vastly different to a few weeks ago. The global cap was removed from view a while ago, but all my recent transactions have gone in / come out without restriction, so there is currently capacity and I think the intention was to increase the global cap in line with demand so that it was unlikely to be reached. If there is no capacity when a direct (from bank) deposit is made into QAA/30DAA, I would presume the money would drop in the cash account, but a good question for chris I think.
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happy
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Post by happy on Nov 7, 2016 19:31:54 GMT
andrewholgate Can I ask a stupid question here? If people don't like investing in the QAA can't they just "park" money in the MLIA or cash account and have the QAA set to sweep unused funds? This way the funds are immediately available through either MLIA or cash account? It seems a no-brainer to me. If you do that then the funds are still being invested into the QAA, so there is still risk involved. You're just telling the system to automatically withdraw those funds once they can be put to use elsewhere. However this is an opt-in facility and people don't have to use it. If they choose lenders can leave their funds sat idle in the cash account or MLIA and those funds won't touch the QAA or any account other than the one they explicitly transfer them into. QAA sweeping is a convenience function for those that are happy with the account and would rather their funds weren't left idle if there is opportunity for them to earn some interest, albeit at a lower rate than they are targeting in the longer term. I have to say chris it's good to have you back on the forum. Your contibutions are almost always on point and they are a large part of the confidence I have in my level of investment in AC. Long may it continue.
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Post by chris on Nov 7, 2016 20:17:42 GMT
If there is no capacity when a direct (from bank) deposit is made into QAA/30DAA, I would presume the money would drop in the cash account, but a good question for chris I think. There's a two stage investment process for the QAA / 30DAA. Funds are transferred into a holding account when you invest directly, one per lender, before being swept into the QAA if there is capacity. When there isn't any capacity remaining the funds instead remain in the queue in that per lender holding account. When a withdrawal request is made those queued funds are moved first followed by funds invested.
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littleoldlady
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Post by littleoldlady on Nov 7, 2016 20:32:40 GMT
If there is no capacity when a direct (from bank) deposit is made into QAA/30DAA, I would presume the money would drop in the cash account, but a good question for chris I think. There's a two stage investment process for the QAA / 30DAA. Funds are transferred into a holding account when you invest directly, one per lender, before being swept into the QAA if there is capacity. When there isn't any capacity remaining the funds instead remain in the queue in that per lender holding account. When a withdrawal request is made those queued funds are moved first followed by funds invested. Where is the amount in the holding account shown? Is it classified as invested (at risk) or uninvested (secure)? Also am I right in thinking that some of the money in the cash account may be invested (eg on loan to the QAA) and some may be uninvested and so subject to Client Money rules? If so where is the split shown?
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Post by chris on Nov 7, 2016 20:54:21 GMT
There's a two stage investment process for the QAA / 30DAA. Funds are transferred into a holding account when you invest directly, one per lender, before being swept into the QAA if there is capacity. When there isn't any capacity remaining the funds instead remain in the queue in that per lender holding account. When a withdrawal request is made those queued funds are moved first followed by funds invested. Where is the amount in the holding account shown? Is it classified as invested (at risk) or uninvested (secure)? Also am I right in thinking that some of the money in the cash account may be invested (eg on loan to the QAA) and some may be uninvested and so subject to Client Money rules? If so where is the split shown? The uninvested portion in your holding account is the amount shown as "Awaiting Investment" on the dashboard. It's is classified as cash in the client money account. Some of the money in the "invested" portion of the account is held as cash and would be classified as cash in the client money, however as that portion of the account is highly fluid I personally think lenders should consider those funds as invested when it comes to assessing risk.
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mikes1531
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Post by mikes1531 on Nov 7, 2016 22:02:45 GMT
How can I tell if there is any spare capacity in the QAA? If you have the sweep feature turned on and watch your account statement, then if any money that comes in is swept instantly, then there's capacity. That's obviously a retrospective view so it may not be a lot of use. In the past, the cap on the combined QAA/30DAA balance used to be a round number. The total balances of those two accounts are shown within the 'Show More' display on your Dashboard. If you add the two balances together and don't get a very round number -- right now it shows £17,223,955 + £22,125,522 = £39,349,477 -- then my guess is that there's capacity, and the cap is set at least as high as £40M.
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ilmoro
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Post by ilmoro on Nov 8, 2016 0:50:40 GMT
littleoldlady hover over any of the uninvested/cash figures on the dashboard and it will give you details of where that cash is. If youve got sweep on it should all show as 0 cash and all in QAA. If there wasnt capacity in the QAA then there would be a sum showing for cash which would be the money queuing to enter. The position of your funds in the queue could be viewed by clicking on the three bars in the QAA and selecting queue position (same goes for 30DAA). Direct invest funds take priority over swept funds, so jump the queue when capacity becomes avaliable. All academic at moment but I suppose might become relevant again if/when IFISA cash hits AC.
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mikes1531
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Post by mikes1531 on Nov 8, 2016 4:05:32 GMT
All academic at moment but I suppose might become relevant again if/when IFISA cash hits AC. If that happens before Apr.'17 I think it'll be an occasion to set the occupants of ilmoro's hat loose for! 
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littleoldlady
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Post by littleoldlady on Nov 8, 2016 10:20:07 GMT
OK here's what I see on my dashboard: At the top are 4 figures. I see that I can customise this to select any 4 out of 6 figures. (Why not just show all 6?) But none of them are "Awaiting Investment". Hovering shows a million decimal places but no further info. Next comes the Cash Account. This shows a figure (which I gather is not actually cash). Hovering shows that it is in the QAA. Moving on to the QAA account and clicking on "Show more" I see Direct Investment + Lent from Idle Funds = Total Investment. The "Lent" figure is a penny different from that shown in "Cash" but hovering shows the correct figure plus a penny from Santa (or somewhere). So far I have been unable to find the fabled "Awaiting Investment" figure. Is this possibly because it is zero at the moment? I realise that I am not a typical investor. Firstly I am not as smart as ilmoro and co and secondly I am not active on this platform, I just leave spare cash in the QAA and only look at the figures occasionally but I have to say chris that I find the platform about as transparent as a brick wall. All I want to see is where my money is and whether it is invested or queuing for investment or in a Client Account. And it would be more transparent if all available information was shown in clear instead of being behind various types of hidden doors, which IMO is just the web designer practicing his skills. |
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