Payments into Zopa delayed?
Posted 26 June 2012 - 11:10
I'm surprised not to have seen anything on the forum (or any other communication from Zopa themselves) on the impact of the RBS problems on Zopa members (unless I've missed something?)
Has anyone else got money into their Zopa account today?
I suppose it's possible that my bank decided not to use FP for once (though they always have before); I don't have a way of knowing.
If it fails to show up at all - who do I complain to in the first instance - Zopa or FD?
Posted 26 June 2012 - 11:18
Or it could be due to this
Edited by figures18, 26 June 2012 - 11:22.
Posted 26 June 2012 - 11:24
I assume that this is the issue but perhaps Zopa could confirm whether funds going in and out of Zopa have been affected?
Posted 26 June 2012 - 11:36
Posted 26 June 2012 - 11:41
It could be that the problem - if it is indeed to do with the RBS issue - may be affecting some sources but not others, rather than the account as a whole. We shall see.
Posted 26 June 2012 - 11:48
Posted 26 June 2012 - 12:04
Thanks, I should have mentioned that I initiated the payment around lunchtime yesterday, well before the end-of-day cutoff.
Posted 26 June 2012 - 12:08
I'm assuming it's delayed by the RBS issues but was going to poke zopa a bit later if it still hasn't arrived - It's been a while since I last transferred funds so I couldn't remember how long the morning processing took.
Posted 26 June 2012 - 14:09
Posted 26 June 2012 - 15:59
Our ability to send batch files and receive notifications is still operational, so we are disbursing loans, effecting lender withdrawals and running the DD facility to collect loan repayments. Our ability to receive exception reports isn't inhibited. Individual customers who bank with RBS/NatWest etc may experience an issue with being able to make a DD payment, but RBS/NatWest is taking responsibility for the consequences of this.
Individual Lender fundings sent to Zopa have been affected. RBS are still unable to confirm which transactions have definitely cleared since Friday 22nd June, and in some cases are yet to provide details such as the customer reference. We have to err on the side of caution here so are refraining from posting any funds received until we are sufficiently confident the transaction has cleared and has been allocated the right reference. This does mean posting of fundings is being delayed, which is frustrating but necessary.
Posted 26 June 2012 - 16:46
Posted 26 June 2012 - 19:26
Posted 26 June 2012 - 22:47
Due to the RBS/NatWest technical problems that have been widely reported, if you have transferred some money to lend out at Zopa since Friday 22nd June, RBS haven’t been able to confirm receipt of the funds yet (or in some cases, the unique reference you provided). We are speaking to RBS several times a day and will continue to do so until they’ve rectified the issues. We will keep you posted.
It seems from what Tianimo has said here and has been posted 'over there' the only thing Zopa can do is keep chasing them. Even if RBS do give an indication of lender funds receipts until they actually arrive here in the credit file everything's on hold. Obviously Zopa want funds in for the weekend as do the lenders who've sent them across. Ideally RBS will want to work through the backlog even if it means money movement over the w/end and this can be dealt with by Zopa Sat/Sun if the file arrives out of working hours.
Certainly at the moment I wonder if it would be wise for Zopa to send out an e mail to lenders about funding delays. Not everyone reads the forum or Facebook and it may cut down on query e mails/phone calls and tweets...
Edited by figures18, 26 June 2012 - 22:53.
Posted 27 June 2012 - 08:42
Unfortunately I am being as concise as I can: getting consistent and reliable information is a bit of a challenge at the moment. I have reviewed the situation this morning and it looks like they are now up to date with clearing our transactions, though they have not carried over the payment references for a number of transactions - from the looks of things it affects anything received on 22nd June.
We will get all of those with a reference credited this morning - and as many of those without the unique reference, where possible - and will follow up with an email to Lenders.
Posted 27 June 2012 - 09:07
Then again, a quick thought, 23rd was Saturday, so should have been part of last nights payment run.
Posted 27 June 2012 - 14:22
We have been working our way through the 'anonymous' BACS fundings as well - I don't think the team have quite finished but we have been able to identify the majority of those where RBS haven't provided the reference.
Posted 27 June 2012 - 15:25
Good to hear.
I'm pleased to report my money has appeared in my Zopa account - Now to just get it lent out!
Posted 27 June 2012 - 16:20
My funds showed up in my Zopa account around lunchtime - appreciate your efforts sorting this mess out. Hope it calms down soon!
Posted 27 June 2012 - 18:51
I am very much in agreement with figures' comment regarding emailing lenders. I don't use facebook or twitter for this kind of thing given that I access on-line and have supplied my email address. A short email explaining the position would have been appreciated.
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