Ratesetter

Aidanmc

Anyone else experiencing delays in receiving the £100 bonus from Ratesetter?

grumiofoundation

Aidanmc said:

Anyone else experiencing delays in receiving the £100 bonus from Ratesetter?

From what I remember had to email to remind them of bonus. As had fulfilled criteria it was paid within 30 days. 

Aidanmc

Received the bonus today. If i set the Access product to 8% rate now, will the funds go to holding account and available to withdraw?

ZeroSum

Aidanmc said:

Received the bonus today. If i set the Access product to 8% rate now, will the funds go to holding account and available to withdraw?

Yeah, although if you haven't already done it, it's now restricted to max of 5%

wizzards

ZeroSum said:

Aidanmc said:

Received the bonus today. If i set the Access product to 8% rate now, will the funds go to holding account and available to withdraw?

Yeah, although if you haven't already done it, it's now restricted to max of 5%

Firstly the rate you can set is +5% on top of the default lending rate which is currently 3% making 8% as the lending rate unless it change in the last few days ?  Secondly the funds might go to the holding account but my experience is they generally get put in "Amount on Market" which means they waiting to be matched to loans.   So if you want to get any cash you need to withdraw it when its shown in "Holding" or "Amount on market".   If you just make a withdrawal request you will be in the queue which is around the 20000 + mark of people waiting.  So you can wait a very long time at the moment.  Possible a year or two if things don't improve.

Aidanmc

wizzards said:

ZeroSum said:

Aidanmc said:

Received the bonus today. If i set the Access product to 8% rate now, will the funds go to holding account and available to withdraw?

Yeah, although if you haven't already done it, it's now restricted to max of 5%

Firstly the rate you can set is +5% on top of the default lending rate which is currently 3% making 8% as the lending rate unless it change in the last few days ?  Secondly the funds might go to the holding account but my experience is they generally get put in "Amount on Market" which means they waiting to be matched to loans.   So if you want to get any cash you need to withdraw it when its shown in "Holding" or "Amount on market".   If you just make a withdrawal request you will be in the queue which is around the 20000 + mark of people waiting.  So you can wait a very long time at the moment.  Possible a year or two if things don't improve.

Thanks....just set the rate to 8%, and will withdraw when the repayments become available.

I'm also redirecting my 5 year repayments to holding acc, and withdrawing when available.

ZeroSum

wizzards said:

ZeroSum said:

Aidanmc said:

Received the bonus today. If i set the Access product to 8% rate now, will the funds go to holding account and available to withdraw?

Yeah, although if you haven't already done it, it's now restricted to max of 5%

Firstly the rate you can set is +5% on top of the default lending rate which is currently 3% making 8% as the lending rate unless it change in the last few days ?  Secondly the funds might go to the holding account but my experience is they generally get put in "Amount on Market" which means they waiting to be matched to loans.   So if you want to get any cash you need to withdraw it when its shown in "Holding" or "Amount on market".   If you just make a withdrawal request you will be in the queue which is around the 20000 + mark of people waiting.  So you can wait a very long time at the moment.  Possible a year or two if things don't improve.

It was you that told me 5% was max,

Anyway, when they go 'on the market' they won't be lent out at 8% so just log in & cancel, then they automatically move to holding account so you can withdraw 

wizzards

ZeroSum said:

wizzards said:

ZeroSum said:

Aidanmc said:

Received the bonus today. If i set the Access product to 8% rate now, will the funds go to holding account and available to withdraw?

Yeah, although if you haven't already done it, it's now restricted to max of 5%

Firstly the rate you can set is +5% on top of the default lending rate which is currently 3% making 8% as the lending rate unless it change in the last few days ?  Secondly the funds might go to the holding account but my experience is they generally get put in "Amount on Market" which means they waiting to be matched to loans.   So if you want to get any cash you need to withdraw it when its shown in "Holding" or "Amount on market".   If you just make a withdrawal request you will be in the queue which is around the 20000 + mark of people waiting.  So you can wait a very long time at the moment.  Possible a year or two if things don't improve.

It was you that told me 5% was max,

Anyway, when they go 'on the market' they won't be lent out at 8% so just log in & cancel, then they automatically move to holding account so you can withdraw 

Originally I said which is in one of your quoted responses "The only way to get any money out of Access before you reach the front of the repayment queue is to increase the rate manually upto +5% (the max allowed) on top of the base rate"
After I saw your minor misquote I subsequently edited it to make clearer as follows.
The only way to get any money out of Access before you reach the front of the repayment queue is to increase the rate manually upto +5% (the max allowed) on top of the base rate giving you a lending rate of 8%.
No they are being lent out at 8% after a while.  They at least go into on the market.  I had left it a few days and some if not all of the money is gone from the holding account.  Which means I am getting a 4% return on the 50 quid or so I lent out the other 4% going to the provision fund.

 

wizzards

Aidanmc said:

wizzards said:

ZeroSum said:

Aidanmc said:

Received the bonus today. If i set the Access product to 8% rate now, will the funds go to holding account and available to withdraw?

Yeah, although if you haven't already done it, it's now restricted to max of 5%

Firstly the rate you can set is +5% on top of the default lending rate which is currently 3% making 8% as the lending rate unless it change in the last few days ?  Secondly the funds might go to the holding account but my experience is they generally get put in "Amount on Market" which means they waiting to be matched to loans.   So if you want to get any cash you need to withdraw it when its shown in "Holding" or "Amount on market".   If you just make a withdrawal request you will be in the queue which is around the 20000 + mark of people waiting.  So you can wait a very long time at the moment.  Possible a year or two if things don't improve.

Thanks....just set the rate to 8%, and will withdraw when the repayments become available.

I'm also redirecting my 5 year repayments to holding acc, and withdrawing when available.

I would put in a withdrawal request as well.  It doesn't stop you making adhoc withdrawal requests as well for anything that happens to end up in the "holding" or "on market".  It just decreases the amount left "queuing"  This is what I have done for the access, the 5 year accounts.  The queue on the 5 Year is probably in the thousands so you probably won't have to wait as long as the Access.

ZeroSum

wizzards said:

ZeroSum said:

wizzards said:

ZeroSum said:

Aidanmc said:

Received the bonus today. If i set the Access product to 8% rate now, will the funds go to holding account and available to withdraw?

Yeah, although if you haven't already done it, it's now restricted to max of 5%

Firstly the rate you can set is +5% on top of the default lending rate which is currently 3% making 8% as the lending rate unless it change in the last few days ?  Secondly the funds might go to the holding account but my experience is they generally get put in "Amount on Market" which means they waiting to be matched to loans.   So if you want to get any cash you need to withdraw it when its shown in "Holding" or "Amount on market".   If you just make a withdrawal request you will be in the queue which is around the 20000 + mark of people waiting.  So you can wait a very long time at the moment.  Possible a year or two if things don't improve.

It was you that told me 5% was max,

Anyway, when they go 'on the market' they won't be lent out at 8% so just log in & cancel, then they automatically move to holding account so you can withdraw 

Originally I said which is in one of your quoted responses "The only way to get any money out of Access before you reach the front of the repayment queue is to increase the rate manually upto +5% (the max allowed) on top of the base rate"
After I saw your minor misquote I subsequently edited it to make clearer as follows.
The only way to get any money out of Access before you reach the front of the repayment queue is to increase the rate manually upto +5% (the max allowed) on top of the base rate giving you a lending rate of 8%.
No they are being lent out at 8% after a while.  They at least go into on the market.  I had left it a few days and some if not all of the money is gone from the holding account.  Which means I am getting a 4% return on the 50 quid or so I lent out the other 4% going to the provision fund.

 

Well I might give that a go then & get 4% for 6 months, the 8% thereafter