RateSetter 19 Jan 2021. Ratesetter offers queue information so you can see how many exit positions are in front of your exit request: Deposits, Payments & Withdrawals. It’s very easy to use and looks great. However, options are available to make things simpler and keep you in control of your finances. A member started a log of investment requests, ref numbers and payment dates in early April. Michelle Johnson* signed up with RateSetter in 2019 and invested a total of £1,000. Complaints have been ignored. After changes at the firm in the summer, she […] Having multiple credit cards or loans can sometimes be challenging to manage. 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. The Website. This will give you an indication of where you are in the queue. 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 ! It is a pity that Ratesetter have not given this level of information. Use a debit card for instant deposits. Login into ratesetter every morning and evening to withdraw cash thats not matched to lenders. Ratesetter has halved payouts to investors and withdrawals are suddenly taking much longer as a result of the coronavirus pandemic. 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. 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. 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. Withdrawal delays. RateSetter has notified investors that withdrawals are taking longer due to a spike in demand. ... Assetz Capital has queued withdrawals … 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. RateSetter, one of the country’s biggest platforms, said its lenders were experiencing delays when trying to withdraw their money. 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. A number of the payees round here pay into Paypal in Euro or Dollars. 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 Monthly payments have always been on time and withdrawals can be as fast as the same business day. 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. You can recover in excess of £1K a month. ! This will give you an indication of where you are in the queue. 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 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. 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