stevio
Member of DD Central
Posts: 2,065 
Likes: 894
|
Post by stevio on Apr 6, 2017 7:14:07 GMT
Just out of interest, was it literally a few hours? I wondered how close to say midnight 05 Apr you could deposit and then withdraw? For one account actually minutes. Allowances display ticked over at midnight and cash was redistributed within 10 min (some back in AC 30day an hour later) Interesting. I presume you still lost a days interest somewhere? Is AC 30day a good place to keep funds whilst waiting for better investments? What is the current return?
|
|
nush
Member of DD Central
Posts: 396
Likes: 113
|
Post by nush on Apr 6, 2017 9:33:25 GMT
That was the financial year that was then. All my ISA money safely back in place in flexible ISA for a few hours beofe going back whence it came before anyone notices the echoing holes in my accounts. Congratulations to all those platforms that made it over the line with an IFISA (apologies to any I missed - shout louder- did REBS launch?) but no time to rest on your laurels as the big boys will be coming this year and there are even bigger pots to play for. (nobody got mine yet) Right who's first to launch for 2017/18? pretty much the same for me, still waiting for cash to appear in bank so that it can be put to good use.
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,330
Likes: 11,549
|
Post by ilmoro on Apr 6, 2017 11:09:56 GMT
For one account actually minutes. Allowances display ticked over at midnight and cash was redistributed within 10 min (some back in AC 30day an hour later) Interesting. I presume you still lost a days interest somewhere? Is AC 30day a good place to keep funds whilst waiting for better investments? What is the current return? Inevitable to some extent. Didnt loose a days interest on most of the money but reduced rate for a day, but lost 4 days on AC transfers as it takes them 2 working days to process (over weekend hence extra 2 days) during which time it is in limbo and not earning, FP once processed. Could have limited this to 2 days but didnt want to take risk of them being slow (worse than Lendy in that respect) Depends on your risk/accessibility requirements, on paper it should be available after 30 days to the second but it is invested in their loan book so if that takes a drastic turn for the worse or too many are pulling funds from their/QAA then you might not have access to your cash. On balance I would say yes IMO. Its one of my medium risk places for ISA funds which I dont want to fully risk in the higher rate platforms. Rate is 4.25% currently.
|
|
littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,045
Likes: 1,862
|
Post by littleoldlady on Apr 6, 2017 13:09:37 GMT
Is AC 30day a good place to keep funds whilst waiting for better investments? What is the current return? You get a half per cent more than the QAA which is 3.75% "instant" access in normal conditions. I would prefer the QAA for money which is "waiting for better investments" as those investments might not hang around for 30 days. For general rainy day money I also prefer the QAA because in the event of a run on the fund the 30 day people might lose out badly, but ilmoro takes a different view so it all depends on your own risk/reward attitude.
|
|
stevio
Member of DD Central
Posts: 2,065
Likes: 894
|
Post by stevio on Apr 6, 2017 13:28:21 GMT
Is AC 30day a good place to keep funds whilst waiting for better investments? What is the current return? You get a half per cent more than the QAA which is 3.75% "instant" access in normal conditions. I would prefer the QAA for money which is "waiting for better investments" as those investments might not hang around for 30 days. For general rainy day money I also prefer the QAA because in the event of a run on the fund the 30 day people might lose out badly, but ilmoro takes a different view so it all depends on your own risk/reward attitude. Sorry is that outside AC or is there also an instant access AC QAA account? If outside, is that a one of the current accounts offering 3%+ per chance? Are you limited on the amount paying that rate?
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,330
Likes: 11,549
|
Post by ilmoro on Apr 6, 2017 13:56:47 GMT
You get a half per cent more than the QAA which is 3.75% "instant" access in normal conditions. I would prefer the QAA for money which is "waiting for better investments" as those investments might not hang around for 30 days. For general rainy day money I also prefer the QAA because in the event of a run on the fund the 30 day people might lose out badly, but ilmoro takes a different view so it all depends on your own risk/reward attitude. Sorry is that outside AC or is there also an instant access AC QAA account? If outside, is that a one of the current accounts offering 3%+ per chance? Are you limited on the amount paying that rate? QAA is an AC account. It pays 3.75%, you can direct invest £100k and have a further 25k swept from idle funds elsewhere eg if you have £25k just in the cash account it can be indirectly invested in the QAA and earn 3.75%. The QAA is designed to be liquid under normal circumstances but it invests in AC loan book so is subject to any issues with that (funds would be locked in defaults but only if cash outflows/defaults were significant), though it retains a significant proportion of funds in cash. There is a cap on the total funds it can hold but it hasnt hit that level for ages. Its black box so no indications of which loans money is invested in. Acts as a defacto underwriter for AC loans. The 30day account is a sub account of the QAA. There is an offer running for new signups to get a higher rate 3.90% by signing up through 4thway.
|
|
littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,045
Likes: 1,862
|
Post by littleoldlady on Apr 6, 2017 14:57:16 GMT
There is an offer running for new signups to get a higher rate 3.90% by signing up through 4thway. I rang them and they said that another family member of an existing lender could open an account and get the deal.
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,330
Likes: 11,549
|
Post by ilmoro on Apr 6, 2017 19:34:05 GMT
Ive added Goji to the table as they do appear to have launched and are therefore I believe the first aggregator platform with an IFISA product
Currently offering a sign up bonus of £50 for £1k investment or £100 for £5k investment.
|
|
mikeh
Member of DD Central
Posts: 499
Likes: 370
|
Post by mikeh on Apr 6, 2017 19:39:59 GMT
Ive added Goji to the table as they do appear to have launched and are therefore I believe the first aggregator platform with an IFISA product Currently offering a sign up bonus of £50 for £1k investment or £100k for £5k investment.
Wow. I'm up for some of that! 
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,330
Likes: 11,549
|
Post by ilmoro on Apr 6, 2017 19:53:59 GMT
Ive added Goji to the table as they do appear to have launched and are therefore I believe the first aggregator platform with an IFISA product Currently offering a sign up bonus of £50 for £1k investment or £100k for £5k investment.
Wow. I'm up for some of that! Ooops
|
|
dzo
Member of DD Central
Posts: 158
Likes: 150
|
Post by dzo on Apr 6, 2017 20:01:50 GMT
Just out of interest, was it literally a few hours? I wondered how close to say midnight 05 Apr you could deposit and then withdraw? For one account actually minutes. Allowances display ticked over at midnight and cash was redistributed within 10 min (some back in AC 30day an hour later) I envy your speedy withdrawals. Did you use a cash ISA? I did the same thing with an Abundance IFISA and their withdrawals take 3-5 working days!
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,330
Likes: 11,549
|
Post by ilmoro on Apr 6, 2017 20:16:33 GMT
For one account actually minutes. Allowances display ticked over at midnight and cash was redistributed within 10 min (some back in AC 30day an hour later) I envy your speedy withdrawals. Did you use a cash ISA? I did the same thing with an Abundance IFISA and their withdrawals take 3-5 working days! Yes, considered Abundance but had problems transferring it to another provider so decided to stick with mainstream providers to avoid complications down the line.
|
|
mason
Member of DD Central
Posts: 666
Likes: 641
|
Post by mason on Apr 6, 2017 20:34:47 GMT
I envy your speedy withdrawals. Did you use a cash ISA? I did the same thing with an Abundance IFISA and their withdrawals take 3-5 working days! Hmm, that's good to know. I'm taking a breather after a lot of money shuffling, but will need to action any withdrawals early in the week by the sound of it.
|
|
dzo
Member of DD Central
Posts: 158
Likes: 150
|
Post by dzo on Apr 6, 2017 20:57:09 GMT
I envy your speedy withdrawals. Did you use a cash ISA? I did the same thing with an Abundance IFISA and their withdrawals take 3-5 working days! Yes, considered Abundance but had problems transferring it to another provider so decided to stick with mainstream providers to avoid complications down the line. What were the problems transferring from Abundance?
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,330
Likes: 11,549
|
Post by ilmoro on Apr 6, 2017 22:14:04 GMT
Yes, considered Abundance but had problems transferring it to another provider so decided to stick with mainstream providers to avoid complications down the line. What were the problems transferring from Abundance? Bank didnt know what P2P was or understand it Didnt know about IFISA Couldnt find Abundance on their system as allowed provider/permitted to accept transfers from (November 16) Expected to receive funds by cheque which P2P lenders cant to provide Once persuaded to provide details to allow electronic transfer, couldnt find the cash Head office ISA dept clueless and had to keep chasing them Took 6 weeks to final get cash into account, fotunately interest payable from application date. No problems from Abundance end, kept me informed throughout
|
|
