Ratesetter offers queue information so you can see how many exit positions are in front of your exit request: Deposits, Payments & Withdrawals. A number of the payees round here pay into Paypal in Euro or Dollars. Monthly payments have always been on time and withdrawals can be as fast as the same business day. In either method, Paypal translates into GBP before withdrawal and charges a rather punitive 2.5% foreign currency exchange fee. I have decided not to invest further with Ratesetter since being with them from the beginning. After changes at the firm in the summer, she […] Having multiple credit cards or loans can sometimes be challenging to manage. The withdrawal updates page is still available to view on RateSetter notice board if you click on the 'View All' link, it's been pushed back due to more recent updates published on the notice board. This will give you an indication of where you are in the queue. ! A member started a log of investment requests, ref numbers and payment dates in early April. RateSetter tells customers: “Your money in the queue is still on loan and continues to accrue interest.” In an update on its website on Tuesday, the company said it was “very sorry it is taking longer than usual to process [withdrawal] requests. RateSetter has notified investors that withdrawals are taking longer due to a spike in demand. Complaints have been ignored. Michelle Johnson* signed up with RateSetter in 2019 and invested a total of £1,000. Those making withdrawal requests after me are instead being paid out and my balance request has today been placed at the end of a queue of over 7000, with a fictitious request date of 1 August attached to it and I have received an email relating to it purporting to acknowledge a withdrawal request made today. Some investors with peer-to-peer lender Ratesetter are still waiting for their cash over seven months after trying to withdraw their investments, with 1,000s in virtual queues to access their money However, options are available to make things simpler and keep you in control of your finances. The platform suggested that coronavirus uncertainty could be to blame, as more people want to withdraw their money in the face of stock market losses. RateSetter, one of the country’s biggest platforms, said its lenders were experiencing delays when trying to withdraw their money. Login into ratesetter every morning and evening to withdraw cash thats not matched to lenders. They've sold the 1 year option and the other 3 options take too long to get your money back. You can recover in excess of £1K a month. This is working well for me and I hope to recover a large % of my money long before I reach the end of the lenders withdrawal queue ! Whereas I was able to cancel my investment and receive my money immediately at the beginning of the year, investors are now having to wait at least 8 weeks. It is a pity that Ratesetter have not given this level of information. It’s very easy to use and looks great. Withdrawal delays. ... Assetz Capital has queued withdrawals … Use a debit card for instant deposits. The Website. This will give you an indication of where you are in the queue. Ratesetter has halved payouts to investors and withdrawals are suddenly taking much longer as a result of the coronavirus pandemic. With my Paypal UK account, the only way I seem to be able to withdraw these is into a GB bank account or onto a debit card. For investors in Access/Plus/Max who requested a withdrawal on or after 13 March, I recommend you look at the P2P Independent Forum website on Ratesetter. A saver who has been trying to get her money out of the UK’s biggest “peer-to-peer” (P2P) website since August has been told her request is 19,050th in the queue for withdrawals. RateSetter 19 Jan 2021.
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