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Post by wyndstryke on Aug 31, 2017 16:40:17 GMT
Maybe we should make a spreadsheet showing average sales by day from the start of the sale.
Mine would look something like this for the current batch:
0 0 0 0 0 68% 0 ...?...
So showing 5 days in the queue, the bulk of it sold overnight when it first reaches the front of the queue, and then typically finishing slower a few days later (previous batches with a total return usually around 95%).
It would also be useful to know the size of each individual chunk, I suspect this is significant in how long it takes to sell, for me it's £10 or less per chunk.
Interestingly 63% of my ISA purchases now have safeguard coverage (therefore must be resales from Access or Core, and neither new loans nor Plus resales). That % has been increasing.
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Post by nogambler on Sept 2, 2017 12:23:43 GMT
Is there any way to see where you are in the queue? I have had £1.5k in the queue since Saturday and nothing yet. Having sold frequently over the years with RS and FC I did not realise how clunky the Zopa sale process is.
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Post by nogambler on Sept 2, 2017 12:29:07 GMT
I also had no idea it took so long to get money out of the Access account. I put in a trial withdrawal for £100 and after 3 days received an email saying they were having issue's on reallocating and would keep my request open for a further 20 days. It's now half way through and they have reallocated about 70%. Isnt it a bit of a worry for what was supposed to be an easy access account? In comparison i also recently liquidated part of a 5 year loan in Ratesetter, had money in my bank the next day!
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Post by wyndstryke on Sept 2, 2017 14:36:07 GMT
Maybe we should make a spreadsheet showing average sales by day from the start of the sale. Mine would look something like this for the current batch: 0 0 0 0 0 68% 0 ...?... Now got 98% back, don't imagine I'll get any more than that (normally it seems to stop at about 95% due to people in the paying stage etc). started 25th aug, this is showing the cumulative % return day by day. 0 0 0 0 0 68% 68 68 98% This is with a £10 chunk size. It's absolutely not an easy access account, you shouldn't treat it like a bank account. It's a no-penalty access account, i.e., you don't get charged the 1% fee. Other than that and the lower interest rate, it's the same as the other accounts. For example, you usually can't sell 100% of your loans, so if you do a sale of 1000 you may be able to sell maybe 950 or whatever, you need to try again after a few days. The following are from the FAQ: help.zopa.com/customer/en/portal/articles/1684618-why-can-t-i-sell-all-my-loans-help.zopa.com/customer/en/portal/articles/1097445-how-do-i-access-my-money-by-selling-loans-
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Post by nogambler on Sept 3, 2017 16:34:58 GMT
I do understand the Zopa offering is not like a bank account but the original Zopa sales pages stated "For customers who value easy access to their money, we’ve created Zopa Access...." - so I don't know why it should not have been considered to be such? 20 days to liquidate £100 doesn't sound easy access whereas my example of RS having money in my bank account the next day clearly is. From the other posts Zopa are clearly struggling with suitable technology to manage the business, but I guess they are working on it, with a backlog of lenders perhaps they feel they don't have to work too hard?
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dorset
Member of DD Central
Posts: 281 
Likes: 187
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Post by dorset on Sept 3, 2017 17:25:07 GMT
£1500 put up for sale last Monday. £1100 came through as sold today. A six day queue.
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Post by wyndstryke on Sept 4, 2017 13:47:06 GMT
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Post by wyndstryke on Sept 5, 2017 23:35:42 GMT
Now got 98% back, don't imagine I'll get any more than that (normally it seems to stop at about 95% due to people in the paying stage etc). started 25th aug, this is showing the cumulative % return day by day. 0 0 0 0 0 68% 68 68 98% As predicted, the 98% was as much as was returned in this sale. So in total it ran from the 25th Aug to 5th Sept, and loans were sold on day 6 and day 9. I'm not going to move any more batches into ISA until the 1% fee is turned off (hopefully soon).
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,328
Likes: 11,544
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Post by ilmoro on Sept 13, 2017 14:48:53 GMT
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