I Demand A Bank Run NOW!!!

I think the reaction here has been way disproportionate given the timeline involved.  So they have had an issue over the last 24/48 hrs in crediting all deposits - something they probably only were alerted too earlier today (after hours last night doesn't count).  Within the course of today they have seemed to have identified the root cause (and appear to imply the cause was the data feed from the bank end) and have communicated that there is issue that they are resolving.  Yes, they could have communicated that they are aware of an issue earlier, but we talking hours not days.  The timing is unfortunate given the large loan launches which has caused frustration from missed opportunities, but I'm not sure that the level of criticism is warranted.  If people still haven't been credited this time next week then that would be a different matter......

This episode highlights one of the drawbacks of an automated process, when things go wrong they tend to go wrong in a big way and take longer to fix versus a manual process - not that i'm advocating a manual process!

Just got my funds, but most of what I wanted gone. So, now I hit the withdraw button. Wonder if I'll ever see this cash again.  SS - You really ballsed this up. Instead of outsourcing your work, HIRE SOMEONE!

This is a company known to work way into a Saturday night, around midnight, and post on here when it suits them, so I must disagree with you on that point.

Click on the smiling face almost at the far right on the row of icons and click the one you want.

Totally agree. I draw a close to it now, but for me as well, if the issue was a genuine problem that was clearly trying to be resolved, then I'd have no problem (as long as it did not occur often). The main thing for me is during contacting them, following up etc., I've formed an opinion of how clueless they appear to be. As a business owner, I'd be mortified of a situation like this affecting my clients. Although I did not loan money, I did  process high numbers of £ transactions in a similar manner, automatically. I understand a bit about the back office flow and the software side and I'm astounded that this could go on for so long and not even be noticed. It's not a few bob, it's potentially 100's of thousands just last 24 hours, missing. Just look at how much has just gone off the SM this evening. How can that imbalance go unnoticed!? After looking into it a bit more, I have some theories why and how they end up in this mess, and it's enough for me to think I'm fairly done with SS for now, unless the opportunity really justifies it. If you are taking millions of people's money, you have to be professional about it.

/mod hat off

The SS deposit 'system' (using the word loosely) is/was well known to have issues when one lender makes multiple identical deposits on the same day .. however this is the first time I think they have managed to lose a whole chunk of transaction data out of the middle of a day's activity. Whoever they are using** needs a swift kick in the wallet, and then they need to explore some system which actually works (I know of no other platform which is even half this bad at deposits, although I know at least one ... LC .. which is even worse at withdrawals). I refuse to believe that the most profitable platform in the known universe can't afford the fees for debit card transaction processing, for instance.

** unclear as to whether it is their bank, or some middle man who is badly challenged in the gorm department.