It's not just the quick deposits which are impressive. This week I had an urgent need for £1000 to help someone out and I knew which platform to turn to. It took only half an hour to sell some loans and have the funds in my bank account. My spare cash will be coming here.
COL are the fastest in the universe. The other day I added some £ and did the transfer and then went onto the website to fill in the notification of deposit form and then I took a pause to have a sip of tea or scratch my arm or something and by the time I had refreshed the screen the funds were available for lending and I was able to grab beauties offering between 12 and 14 percent.
The challenge I have with this platform is finding the self-confidence to increase my stake because there are opportunities there at amazing rates of interest at the moment and why not, but on the other hand there is that understandable caution in the back of my mind about a newish platform and not knowing the ins and outs of the big Chiefs behind it all.
There was a lenders' visit reported on here with a platform q&a, worth a look.
Not happy this morning. Quite a lot of jewellery. Bought with my total available balance. Transfered some more. Informed collateral. Refreshed screen, ready to buy some more. Still sitting waiting as jewellery disappears. :-(
Edit: In at last. Managed to get some more, but definitely missed some. In fairness, it took about 25 minutes. However, we have been spoiled recently with deposits within a couple of minutes. Much faster than most platforms.
Made a deposit today and filled in the deposit form. Came back 2 mins later and my funds were there ready for lending. And as a result I have hit a 5 figure sum on COL for the first time. An indication of my growing confidence in the platform - not to mention my appreciation of 14%.
I am an active investor on the MT and COL platforms. I have a small % of my P2P funds tied up in suspended LY loans. All views I express are mine and mine alone and nobody should regard anything I write as financial advice (as if they would be so stupid!).