MSE News: Ratesetter investors furious as 'technical issue' delays withdrawals after account closure

edited 8 April 2021 at 11:42AM in Savings & Investments
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MSE_Helen_KMSE_Helen_K Forumite, MSE Staff
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MSE Staff
edited 8 April 2021 at 11:42AM in Savings & Investments
Thousands of Ratesetter investors have been left waiting to get their cash back from closed accounts after a 'technical issue' delayed withdrawals made over the Bank Holiday weekend and on Tuesday. The peer-to-peer lender says it's now fixed the problem though, and says payments should arrive in customers' accounts by the end of Thursday (8 April)...

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'Ratesetter investors furious as 'technical issue' delays withdrawals after account closures'


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  • ctdctdctdctd Forumite
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    I'm not furious and my withdrawal arrived today at about 11:45 - so less than a day later than expected.
    Do Money Saving sites make you buy more bargains - and spend more money?
  • edited 8 April 2021 at 12:56PM
    coyrlscoyrls Forumite
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    edited 8 April 2021 at 12:56PM
    I suppose "slightly irritated" doesn't make a good headline.
  • YellowStarlingYellowStarling Forumite
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    I think it was more an excuse for account holders to resurrect the whole '2020 halved interest to make a sale with Metrobank' saga again.
  • edited 8 April 2021 at 2:52PM
    AlexlandAlexland Forumite
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    edited 8 April 2021 at 2:52PM
    dunstonh said:
    Furious because of a day's delay?   That is very Daily Mail of you.

    I'm now really angry about this even though we are unaffected. It really spoilt my day to hear this news! The guy in the article photo looks pretty chilled although the girl in the background seems worried - maybe she hasn't told him the ratesetter money is delayed? He was relying on that money to buy a nicer kitchen...
  • moneysavingheromoneysavinghero Forumite
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    No furious. After all the constant emails advising that this was coming i was expecting to an email when it actually happened. But never got one, so forgot all about and have not even logged into my account to withdraw it.
  • Not bothered about this, just the general experience of having money with Ratesetter: waiting months for a withdrawal last year and the fees on top of this, only to be told all investments would be released anyway. Not furious, but not amused.
  • thegentlewaythegentleway Forumite
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    I’m incandescent with rage now I’ve realised I’ve lost out on at least 0.01p of interest.
    No one has ever become poor by giving
  • edited 8 April 2021 at 3:25PM
    IvanOpinionIvanOpinion Forumite
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    edited 8 April 2021 at 3:25PM
    Alexland said:
    dunstonh said:
    Furious because of a day's delay?   That is very Daily Mail of you.

    I'm now really angry about this even though we are unaffected. It really spoilt my day to hear this news! The guy in the article photo looks pretty chilled although the girl in the background seems worried - maybe she hasn't told him the ratesetter money is delayed? He was relying on that money to buy a nicer kitchen...
    Have you thought about maybe seeking some counselling?  Or do you think maybe a rendition of 'Soft kitty' would suffice?  :)
    Success is going from failure to failure without losing motivation
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