Jeepers
Member of DD Central
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Post by Jeepers on Mar 3, 2017 7:33:26 GMT
If instant deposits aren't feasible, why not bring the old system back where you could tell the system you've made a deposit and buy your loans whilst waiting for it to be reconciled.
To stop any gaming, it could be 3 failed deposits and you're booted off.
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SteveT
Member of DD Central
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Post by SteveT on Mar 3, 2017 7:38:44 GMT
If instant deposits aren't feasible, why not bring the old system back where you could tell the system you've made a deposit and buy your loans whilst waiting for it to be reconciled. To stop any gaming, it could be 3 failed deposits and you're booted off. Because that would still fall foul of FCA requirements. Until cleared funds arrived, SS would be on the hook for any SM parts bought "on tick".
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littleoldlady
Member of DD Central
Running down all platforms due to age
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Post by littleoldlady on Mar 3, 2017 8:32:37 GMT
why not the simplest solution - just process the deposits and withdrawals pronto - whatever system COL have, it's super, and if implemented here, would solve one of my bugbears of SS. I agree. Automated or rapid manual crediting is far superior to INPL which brings all sorts of undesirable side effects.
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jamesc
Member of DD Central
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Post by jamesc on Mar 3, 2017 8:40:47 GMT
I just deposited some funds into COL unbelievable how quick (close to instant), even quicker than MT and they are quick. If COL can do it why can't a much larger outfit like SS do it ? It would completely remove the majority of negatives of removing INPL.
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vmail
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Posts: 457
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Post by vmail on Mar 3, 2017 10:41:57 GMT
Simple, delay the transactions = an extra days interest for SS
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Post by trentenders on Mar 3, 2017 12:45:47 GMT
SS won't be earning interest on your deposits.
They have many failings, and they could obviously apply more resource to processing deposits/withdrawals to improve matters, but it's becoming a witch hunt on here. If SS employed people to manually process payments around the clock, or if they implemented a facility for processing instant payments via debit card, then there would be costs involved. I would bet those additional costs would be passed to lenders through ever lower rates.
If a couple of days worth of interest matters then don't sell loans/deposit on a Friday afternoon...
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dzo
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Post by dzo on Mar 3, 2017 18:12:59 GMT
I don't really have an issue with SS processing deposits/withdrawals the next working day.
If you time it right (i.e. just after midnight, or first thing in the morning) it gets done the same day, and nobody can transfer money in fast enough to take advantage of the fleeting opportunities on the SS SM.
It's a shame INPL had to go though.
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