ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,848
Likes: 11,077
|
Post by ilmoro on Jul 13, 2017 10:01:58 GMT
Hi all, I just wanted to inform you that we have now activated in our transfer in capability. Feedback appreciated!Feedback: It is far too slow. 16/6 Posted form 22/6 received email saying being processed. 5/7 received letter from sending bank that funds sent (they don't say when request received nor when funds sent but they have previously done several transfers to another company very quickly, so I suspect there was a delay before they received the request from Goji) 5/7 received email from Goji saying transfer funds received in form of cheque which needs clearing. 13/7 received email from Goji saying 'Your funds are now ready for investment.' however on trying to invest them find that funds are still 'pending' and on enquiry Goji say they are still waiting to be cleared I will update when the funds finally arrive. Assuming this was a cash ISA well outside the timescales permitted by HMRC. (15 days) Leaving themselves open to formal compliants ... not a good start.
Actually on reflection that was unfair - actually maybe 1 day to slow
|
|
|
Post by Deleted on Jul 13, 2017 12:19:18 GMT
Hi all, I just wanted to inform you that we have now activated in our transfer in capability. Feedback appreciated!Feedback: It is far too slow. 16/6 Posted form [edit: a cash ISA from a High Street Bank] 22/6 received email saying being processed. 5/7 received letter from sending bank that funds sent (they don't say when request received nor when funds sent but they have previously done several transfers to another company very quickly, so I suspect there was a delay before they received the request from Goji) 5/7 received email from Goji saying transfer funds received in form of cheque which needs clearing. 13/7 received email from Goji saying 'Your funds are now ready for investment.' however on trying to invest them find that funds are still 'pending' and on enquiry Goji say they are still waiting to be cleared I will update when the funds finally arrive. I couldn't agree more, the whole system is ridiculously slow. I was surprised not to see my funds invested when I logged in this morning but on live chat they firmly put the blame at the archaic paper process of the previous ISA provider. However in excess of a month from process start to finish doesn't encourage me to send further funds following this trial. 21/6 Posted Form (also transfer from cash ISA) 27/6 Email saying Transfer Authority Form received 4/7 Money left existing ISA account 13/7 No sign of deposit with GOJI and informed by live chat to expect it to appear next week 17/7 onwards
|
|
pom
Member of DD Central
Posts: 1,922
Likes: 1,244
|
Post by pom on Jul 13, 2017 13:03:06 GMT
20/6 posted form 22/6 received 28/6 Santander debited the amount from my cashISA - boo hiss! Got a letter from them a few days later as I recall 11/7 email that the funds were available, except then had to wait ~24hrs to clear 12/7 cleared, invested and queued for the next bond run scheduled for the end of the month - so on the bright side I wouldn't panic yet littleoldlady and jester as there's plenty of time....but I do hope there'll be enough bonds available to satisfy demand after all this!! Santander clearly been a bit rubbish...but the whole thing was a lot quicker for transfers into Lending Works. And perhaps I didn't read enough small print but I didn't realise bonds would only be available at the end of the month...or maybe I forgot
|
|
littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,017
Likes: 1,835
|
Post by littleoldlady on Jul 13, 2017 14:10:06 GMT
20/6 posted form 22/6 received 28/6 Santander debited the amount from my cashISA - boo hiss! Got a letter from them a few days later as I recall 11/7 email that the funds were available, except then had to wait ~24hrs to clear 12/7 cleared, invested and queued for the next bond run scheduled for the end of the month - so on the bright side I wouldn't panic yet littleoldlady and jester as there's plenty of time....but I do hope there'll be enough bonds available to satisfy demand after all this!! Santander clearly been a bit rubbish...but the whole thing was a lot quicker for transfers into Lending Works. And perhaps I didn't read enough small print but I didn't realise bonds would only be available at the end of the month...or maybe I forgot Nor did I. Where does it say that? LLI have been the quickest at processing in transfers for me.
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,848
Likes: 11,077
|
Post by ilmoro on Jul 13, 2017 14:31:55 GMT
20/6 posted form 22/6 received 28/6 Santander debited the amount from my cashISA - boo hiss! Got a letter from them a few days later as I recall 11/7 email that the funds were available, except then had to wait ~24hrs to clear 12/7 cleared, invested and queued for the next bond run scheduled for the end of the month - so on the bright side I wouldn't panic yet littleoldlady and jester as there's plenty of time....but I do hope there'll be enough bonds available to satisfy demand after all this!! Santander clearly been a bit rubbish...but the whole thing was a lot quicker for transfers into Lending Works. And perhaps I didn't read enough small print but I didn't realise bonds would only be available at the end of the month...or maybe I forgot Nor did I. Where does it say that? LLI have been the quickest at processing in transfers for me. FAQ When will Bonds be issued? At the end of each month, there will be an interim close. At this point new Bonds will be issued to fulfil any applications for the Bonds that have been made and accepted in that month.
|
|
littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,017
Likes: 1,835
|
Post by littleoldlady on Jul 13, 2017 14:47:33 GMT
I think I might be spread over too many platforms. Good for diversity but each is different with its own quirks and I cannot keep on top of them. Maybe time to say farewell to a few, but which?
|
|
|
Post by Michal on Jul 14, 2017 12:52:52 GMT
Feedback: It is far too slow. 16/6 Posted form [edit: a cash ISA from a High Street Bank] 22/6 received email saying being processed. 5/7 received letter from sending bank that funds sent (they don't say when request received nor when funds sent but they have previously done several transfers to another company very quickly, so I suspect there was a delay before they received the request from Goji) 5/7 received email from Goji saying transfer funds received in form of cheque which needs clearing. 13/7 received email from Goji saying 'Your funds are now ready for investment.' however on trying to invest them find that funds are still 'pending' and on enquiry Goji say they are still waiting to be cleared I will update when the funds finally arrive. I couldn't agree more, the whole system is ridiculously slow. I was surprised not to see my funds invested when I logged in this morning but on live chat they firmly put the blame at the archaic paper process of the previous ISA provider. However in excess of a month from process start to finish doesn't encourage me to send further funds following this trial. 21/6 Posted Form (also transfer from cash ISA) 27/6 Email saying Transfer Authority Form received 4/7 Money left existing ISA account 13/7 No sign of deposit with GOJI and informed by live chat to expect it to appear next week 17/7 onwards Hello littleoldlady, jesterThank you for the feedback. Please accept my apologies for the delays to your transfers. We are continually looking at ways to improve and speed up the service for our investors. We will not be satisfied until our investors feel the process is swift and smooth. While there are parts of the transfer process that are not in our control, we do ultimately take full responsibility and are reviewing, as a priority, things that we can do to speed it up. At the moment, the biggest challenge for us is the cheque clearing process. Unfortunately, most of the funds for incoming cash transfers are being received by cheque. We have a process improvement that is being tested and should reduce waiting times. We’re looking to implement this in the next few weeks. We’ll be posting regular updates on the forum with any developments and new products so please visit regularly. In the meantime, we are always available to answer any questions through our live chat or via email at customersupport@gojip2p.com. You can also call our Customer Support on 0203 865 3710. Many thanks Michal
|
|
pom
Member of DD Central
Posts: 1,922
Likes: 1,244
|
Post by pom on Jul 26, 2017 12:33:21 GMT
Hurrah, just had an email saying my cash has been invested in the bonds.
|
|
littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,017
Likes: 1,835
|
Post by littleoldlady on Jul 26, 2017 18:43:05 GMT
Hurrah, just had an email saying my cash has been invested in the bonds. Me too. Now where's that bonus?
|
|
pom
Member of DD Central
Posts: 1,922
Likes: 1,244
|
Post by pom on Jul 26, 2017 20:06:59 GMT
Hurrah, just had an email saying my cash has been invested in the bonds. Me too. Now where's that bonus? Have a feeling - can't remember - we may have to wait til the end?
|
|
|
Post by Michal on Jul 27, 2017 14:45:40 GMT
Me too. Now where's that bonus? Have a feeling - can't remember - we may have to wait til the end? Hi pom littleoldladyThank you for your posts. We had a very successful, fully subscribed bond launch yesterday. Please do keep monitoring your online accounts as we will be gradually increasing the level of data and information available to you about your investments. Regarding the bonus, you are correct that this will be paid at maturity with the amount depending on your level of investment. If you have any specific questions about your individual bonus please feel free to contact us at customersupport@gojip2p.com or give us a call on 0203 865 3710. Many thanks Michal
|
|
fp
Posts: 1,008
Likes: 853
|
Post by fp on Aug 6, 2017 16:55:35 GMT
20/6 posted form 22/6 received 28/6 Santander debited the amount from my cashISA - boo hiss! Got a letter from them a few days later as I recall 11/7 email that the funds were available, except then had to wait ~24hrs to clear 12/7 cleared, invested and queued for the next bond run scheduled for the end of the month - so on the bright side I wouldn't panic yet littleoldlady and jester as there's plenty of time....but I do hope there'll be enough bonds available to satisfy demand after all this!! Santander clearly been a bit rubbish...but the whole thing was a lot quicker for transfers into Lending Works. And perhaps I didn't read enough small print but I didn't realise bonds would only be available at the end of the month...or maybe I forgot Are you sure? I recently transferred a cash ISA from Santander to Halifax, the whole process was completed within 48 hours..
|
|
pom
Member of DD Central
Posts: 1,922
Likes: 1,244
|
Post by pom on Aug 6, 2017 17:06:37 GMT
20/6 posted form 22/6 received 28/6 Santander debited the amount from my cashISA - boo hiss! Got a letter from them a few days later as I recall 11/7 email that the funds were available, except then had to wait ~24hrs to clear 12/7 cleared, invested and queued for the next bond run scheduled for the end of the month - so on the bright side I wouldn't panic yet littleoldlady and jester as there's plenty of time....but I do hope there'll be enough bonds available to satisfy demand after all this!! Santander clearly been a bit rubbish...but the whole thing was a lot quicker for transfers into Lending Works. And perhaps I didn't read enough small print but I didn't realise bonds would only be available at the end of the month...or maybe I forgot Are you sure? I recently transferred a cash ISA from Santander to Halifax, the whole process was completed within 48 hours.. As much as I can be, Goji were telling me repeatedly it hadn't arrived with them yet, and whilst LW was quicker it was not particularly quick reaching them either. But who knows? Not sure comparing it with transfers between 2 banks is really like for like tho.
|
|
pom
Member of DD Central
Posts: 1,922
Likes: 1,244
|
Post by pom on Sept 1, 2017 11:10:09 GMT
Hmm so as well as cash drag getting invested into the bonds, there would appear to be quite a bit once you have the bonds too, looks like they're perhaps treated as totally separate issues (well I hope that's the case as if my first months growth is the average of everyone on the platform then the eventual return isn't going to be good!)
|
|
|
Post by Michal on Sept 4, 2017 10:36:48 GMT
Hmm so as well as cash drag getting invested into the bonds, there would appear to be quite a bit once you have the bonds too, looks like they're perhaps treated as totally separate issues (well I hope that's the case as if my first months growth is the average of everyone on the platform then the eventual return isn't going to be good!) Hi pomMany thanks for your post. I'd like to clarify how our July bond's investment funds were deployed and how the repayments are structured and subsequently reflected in your online account. The cash drag for last month's investment run was minimal since it launched with nearly all of the bond's capital invested in the first few weeks and with 99.99% of the bond's funds currently deployed. The reason your growth to date figures may appear lower than expected is because we only recognise income on receipt of repayments, unlike some platforms, and so a delay in updating the figures is a natural part of the loan repayment process. As an example, if we invested in a 3-month loan at the end of July, we would only input the interest repayment when it came in around the end of October. It would only be then that you would see that growth reflected in your account. We are working hard to continually improve the way we communicate with our investors and ensure all information about the structure of our investments is absolutely clear and transparent so your feedback is extremely appreciated. Additionally, we are constantly looking for and deploying improvements in our customer experience. We will take on board the impact delays in investment cycles have on investors and hope that the product improvements we aim to release in the near future will address these concerns. As always, feel free to contact us at customersupport@gojip2p.com or give us a call on 0203 865 3710 if you have any questions. Kind regards Michal
|
|