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Post by khampson on Dec 6, 2016 12:09:21 GMT
Before I make a deposit from my bank, can anyone tell me how long it takes to get money invested in the GBBA? when I used this earlier in the year it was taking ages to get mu money on the market, is it still the same? is the Green account the same?
thank you
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Post by d_saver on Dec 6, 2016 12:16:19 GMT
Still quite slow, but seems to be the norm as far as I can see unless you are chosing single investments. I moved some funds there as a new client a few weeks back. It's Slow. Out of the 1k or so I dropped in the gbba, only £72 has been invested. One of the better features of this site though seems to be the lesser cash drag whilst waiting to invest due to the 'instant' access account that still bears some interest. It's the reason I still leave some money there, pending investment.
There seems to be a great appetite for debt and any sort of return that goes with it at the moment. My concern is that companies start making inappropriate loans to meet this appetite, so I'm happy to wait as long as things do keep moving along a bit and the loan quality is good.
I expect this time of year, loans slow down too, perhaps?
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Post by d_saver on Dec 6, 2016 12:18:19 GMT
Just to add, the green account moved a little quicker for me. I think a couple larger chunks got invested, but as far as I can tell, there are fewer loans in this account to go around than the gbba
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registerme
Member of DD Central
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Post by registerme on Dec 7, 2016 9:45:26 GMT
I expect this time of year, loans slow down too, perhaps? Yes I think that's part of it. I've been getting a few hundred quid plus a week away into the GBBA over the last few weeks, but it's slowed down significantly since the weekend (or maybe late last week?). Either new loans or somebody selling out of their GBBA holdings will be needed before it starts to move again, and I doubt that much will happen in December on the new loan front. Still, at least uninvested funds earn the QAA rate.
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Post by driain on Dec 7, 2016 9:50:32 GMT
It was slow earlier in the year then speeded up and I got £5k invested in a few weeks. It is slow now though. I agree that the best approach is to put the money in and set it to be swept into the QAA. That way it is in the queue for the GBBA, when loans become available, whilst earning interest in the QAA.
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annie
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Post by annie on Dec 7, 2016 10:29:48 GMT
I agree with others. Only about 50% of my funds taken up after a number of weeks. But on positive side, if this is the norm than it should be easy to get funds back when wanting to withdraw.
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Post by d_saver on Dec 7, 2016 11:11:38 GMT
Agree. Double edged sword. I'm new to p2p. Coming back to p2p since dabbling in Zopa when they first started, but my other trading activities have taught me liquidity is all. At least for the moment, as you say, it should be easy to exit if needed.
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mikes1531
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Post by mikes1531 on Dec 7, 2016 18:25:41 GMT
'Slow' is one thing -- 'dead stop' is another. Five days have passed since I put some money into my GBBA, and there's been no activity at all.
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jonah
Member of DD Central
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Post by jonah on Dec 7, 2016 22:00:09 GMT
'Slow' is one thing -- 'dead stop' is another. Five days have passed since I put some money into my GBBA, and there's been no activity at all. £51 of 381 bought in my GBBA today.
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Post by steelspanner on Dec 7, 2016 22:16:36 GMT
'Slow' is one thing -- 'dead stop' is another. Five days have passed since I put some money into my GBBA, and there's been no activity at all. £51 of 381 bought in my GBBA today. I had exactly the same taken (£51.61 to be precise)
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trevor
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Post by trevor on Dec 7, 2016 22:30:43 GMT
I was allocated £51.61 today to #328 thru MLIA. No coincidence I'm sure.......
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mikes1531
Member of DD Central
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Post by mikes1531 on Dec 7, 2016 23:27:48 GMT
I was allocated £51.61 today to #328 thru MLIA. No coincidence I'm sure....... That looks like a maximum allocation. My GBBA got some of #381 as well. ( trevor: Are you sure yours was #328?) Mine was a smaller amount because my GBBA is only a test for me, and my investment in #381 was limited to 20% of my account value.
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duck
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Post by duck on Dec 8, 2016 8:33:39 GMT
£51 of 381 bought in my GBBA today. I had exactly the same taken (£51.61 to be precise) In the precise world of AC £51.6172500673006
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Post by driain on Dec 8, 2016 10:01:46 GMT
Exactly the same amount here too. Although to be honest I don't usually look at the detailed transactions just an irregular check on the overall total. AC is more like a savings account for me.
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trevor
Member of DD Central
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Post by trevor on Dec 8, 2016 16:05:23 GMT
My typo..... Should be #381
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