ltamt
New Member
Posts: 1 
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Post by ltamt on Sept 5, 2017 14:36:13 GMT
Hi,
Just wanted to report an issue I am currently facing while I have been trying to withdraw some money on Lendy. Unlike other P2P platforms, it looks like Lendy does not allow their clients to modify the UK bank account they want to be paid into. They can only pay back into the account from which deposits have been made.
This is a real issue for me since I am using a Revolut bank account and the money paid from that account is seen as originating from a different account named 'THE CURRENCY CLOUD'. I already lost some funds because Lendy has paid my withdrawal into that 'cloud' account which is not linked to my Revolut account. Other UK platforms like Ablrate allows their users to edit their account details after verification, but so far I have not been able to do so with Lendy.
I have been trying to get this sorted out with Lendy Support for almost a month now, but their response has been very dissatisfying so far. They only pointed me out to their FAQ which I was already aware of and never replied to my first emails, but rather after more than a week and several reminders sent. On the top of that, it is good to know that Lendy Support cannot be reached via phone, but only via email/webform, which is highly concerning considering their poor responsiveness.
Has anyone else ever encountered any similar issues?
Any idea how to escalate this further or formally raise a complain?
Thanks.
LM
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star dust
Member of DD Central
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Post by star dust on Sept 5, 2017 14:48:54 GMT
Hi ltamt, and welcome to the Forum. I'll tag Paul64 and Lendy Support for you, which may get a response, but you might want to try a PM to them from your Forum account as well. |
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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
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Post by ilmoro on Sept 5, 2017 15:47:47 GMT
If you have another bank account Im pretty sure that if you send money from that account to Lendy it will be added as a verified account to which withdrawals can be sent. Just select the preferred account from the drop down. Are you using Revolut for a particular reason ... ie overseas investor? ( wiseclerk might be apply to advise as I think he uses Revolut for P2P) |
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0risk
Member of DD Central
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Post by 0risk on Sept 5, 2017 16:22:11 GMT
Just a tip: if you are overseas, you can use Transferwise to transfer directly to your home account.
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lobster
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Post by lobster on Oct 2, 2017 11:43:55 GMT
Hi - does anyone know how long in takes Lendy to process "normal" withdrawals to a UK bank account (HSBC) ? Thanks.
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Post by bonfemme on Oct 2, 2017 12:05:01 GMT
If you request the withdrawal by first thing (8am-ish), it's usually processed the same day in my experience
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mikes1531
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Post by mikes1531 on Oct 2, 2017 12:12:38 GMT
Hi - does anyone know how long in takes Lendy to process "normal" withdrawals to a UK bank account (HSBC) ? Thanks. : There used to be a morning cut-off time -- reportedly variable, and sometimes very early -- and requests received before that time were processed later that day. With interest having been credited to investors' accounts yesterday, however, they probably have hundreds of withdrawal requests to deal with today so that may take a bit longer than usual to deal with. Based on my experience, Lendy send an automated email acknowledging a withdrawal request has been made -- I don't know whether that's a notification you have to opt in to receive -- but don't send an email once the withdrawal has been processed, so the only way to know if it has been dealt with is to keep checking your bank account. I requested a withdrawal at 0445 today, and the money is in my bank account already. (I don't know what time it arrived.)
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nick
Member of DD Central
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Post by nick on Oct 2, 2017 13:18:54 GMT
If you request the withdrawal by first thing (8am-ish), it's usually processed the same day in my experience Sometimes they have processed the payment run as early as 6:30am, but more recently the earliest I've noted has been 8:20am. I now assume a cut-off of 8am to get funds same day.
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sl75
Posts: 2,092
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Post by sl75 on Oct 2, 2017 14:34:29 GMT
Curiously I see that on the "international withdrawal" page, you can select a currency option and country of destination both set to United Kingdom.
The page still proposes to charge a £15 fee for that, but does at least let you enter an arbitrary [IBAN format] account number! (Not planning on trying it, as I already have the correct UK account on the dropdown list on the other page, but could be worth it for some if the amount involved and urgency of requirement are sufficient to risk actually paying that £15 fee!)
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Post by alistairb on Oct 3, 2017 10:45:20 GMT
I have successfully changed my bank account to Transferwise Borderless GBP account which I think operates similarly to Revolut i.e it has a UK Sort Code and account number, but deposits come from a Transferwise account number. I did this using the submit a request form on the support page. I also uploaded screenshots of my Transferwise account details and holder's profile and I now have two accounts showing in the drop down box on the UK withdrawal page. I have just made my first withdrawal to the new account and it works correctly.
Making an international withdrawal in a foreign currency has a Transferwise fee of 0.5%, according to the information given, not £15.
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jfm
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Post by jfm on Oct 4, 2017 8:56:21 GMT
Slightly different issue - bank transfer narrative still saying "Saving Stream..." Perhaps time to catch up with the rebrand, Lendy Support ? |
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n
Member of DD Central
Yet another Nick
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Post by n on Oct 4, 2017 11:48:35 GMT
Slightly different issue - bank transfer narrative still saying "Saving Stream..." Perhaps time to catch up with the rebrand, Lendy Support ? I find it (marginally) helpful as all my bookmars, folders and documents still (and always will) refer to them as 'Saving Stream'. 
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Post by therealmccoy on Oct 4, 2017 15:46:51 GMT
Just a tip: if you are overseas, you can use Transferwise to transfer directly to your home account. I have been trying for several days to initiate an overseas transfer from Lendy, and have been having an increasingly difficult time. When you select "International withdrawal" on the Lendy website, there is a form to be completed, and the only field that allows for account information to be transferred to is an IBAN field. None of my US banks have IBAN numbers. I have checked with my local bank and also with my investment bank (Fidelity). Fidelity has a swift code, but there is no way for a swift code to be provided on Lendy's form. When I have contacted them about this, I get a generic answer with a link to the FAQ which doesn't help me. On Transferwise (which I used successfully to deposit money into my Lendy account), I must fund the transfer by contacting my originating bank and asking them to transfer the money to Transferwise. I don't have any of this information for Lendy. What am I missing? I appreciate any help anyone can give me, and if someone can tag Paul, I would also be appreciative. Thank you.
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registerme
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Post by registerme on Oct 4, 2017 15:50:27 GMT
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Post by therealmccoy on Oct 4, 2017 16:02:07 GMT
Thank you.
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