Harmoney

[Saamee]

Does anybody else check that their Harmoney account Withdrawals do actually make it to your bank account?

This week after 18 months with Harmoney, for the 1st time I found that one of my Daily Withdrawals had not been processed and paid into my account.

Harmoney did not know about this error until notified - after investigation stated that their daily processing had failed to pick up the Withdrawal request....

That's why I check daily and reconcile.

[Finite]

im running out of loans to invest in.. im at 800 loans and I have trouble re-investing it all back, i still stick to 25$ per loan.. Thinking of putting more money into the ones with payment protect. Wonder if its better than the ones without

What's the problem?
To obtain the predicted returns you just need to be statistically diversified.
This does not mean having just $25 in each loan, it means spreading your total money over a statistically significant number of loans.

Is their anybody out there who can tell me "How many loans I need to be invested in to have a 95% probability of obtaining the predicted returns"

There sure will be people at Heartland Bank who know - they probably take a least 20% of each loan.

[BJ1]

Achieving the average RAR is just a matter of spreading enough money in the same proportions as Harmoney's overall portfolio and avoiding chunky exposures. An investor would have to be extremely unlucky to be hit with more than average defaults on that basis. There is no need to stick to $25 exposures as long as an investor is careful about chunks while building up a portfolio. I started with a risk profile similar to Harmoney's overall profile and it has worked for me even though some of my participations have been up to $1,400 - but I cherry pick based on 40 years lending experience. See my first post.

[Ellipsis]

Does anybody else check that their Harmoney account Withdrawals do actually make it to your bank account?

This week after 18 months with Harmoney, for the 1st time I found that one of my Daily Withdrawals had not been processed and paid into my account.

Harmoney did not know about this error until notified - after investigation stated that their daily processing had failed to pick up the Withdrawal request....

That's why I check daily and reconcile.

That happened to me this week too.

Two weeks ago they failed to pick up my deposit. It is quite disappointing that these issues still exist so long after launch.

My dashboard balances are constantly incorrect as well. This morning, my cash-available balance was in the negatives despite the fact that there was actually around $200 available. The error was eventually fixed in the afternoon without explanation.

God knows what other issues people have encountered...

[kiwi_on_OE]

Has anyone experienced auto-lending not working? I've had to manually invest in some loans today, that meet my auto-lend criteria and show up when I use that filter, but which weren't picked up by auto-lending. Auto-lend hasn't done anything for me today.

[whitt]

Has anyone experienced auto-lending not working? I've had to manually invest in some loans today, that meet my auto-lend criteria and show up when I use that filter, but which weren't picked up by auto-lending. Auto-lend hasn't done anything for me today.

Yes I have seen this also many times.
My is only assumption is Harmoney might have set a limit on how many auto lend buyers can buy each loan. This would be smart and fair from Harmoney behalf I would do same if my own company. If you didnt then manual investors would vanish quickly since they wont see loans as they get snapped up by auto investors. Eg Limit 50% of loans to autolend .

On a sidenote I find Autolend to be working well. as funds become available they do get used although sometimes it does take a few days.

[kiwi_on_OE]

Yes I have seen this also many times.
My is only assumption is Harmoney might have set a limit on how many auto lend buyers can buy each loan. This would be smart and fair from Harmoney behalf I would do same if my own company. If you didnt then manual investors would vanish quickly since they wont see loans as they get snapped up by auto investors. Eg Limit 50% of loans to autolend .

Thanks.

Whatever the reason, I think it is poor that they haven't done any auto-lending for me today, and that it happens to others too. They do mention a limit on the proportion of a loan that will be auto-lent. But I have my doubts that it is the case in this situation as the loan was about 50% filled, and is still not filled.

I'm only trying to use auto-lend because I see so few loans to manually invest in.

[whitt]

Thanks.

Whatever the reason, I think it is poor that they haven't done any auto-lending for me today, and that it happens to others too. They do mention a limit on the proportion of a loan that will be auto-lent. But I have my doubts that it is the case in this situation as the loan was about 50% filled, and is still not filled.

I'm only trying to use auto-lend because I see so few loans to manually invest in.

There was a loan tonight that did same. It showed in my filtered loans as a autolend type that met my criteria yet wasn't automatically invested by there system.
Maybe try email/ contact us them the question "Kiwi_on_oe" will be keen to hear what answer was?

[whitt]

There was a loan tonight that did same. It showed in my filtered loans as a autolend type that met my criteria yet wasn't automatically invested by there system.
Maybe try email/ contact us them the question "Kiwi_on_oe" will be keen to hear what answer was?

OK
Maybe Kiwi_on_OE is right. The system missed yet another autolend that met my setup again today. That is several this weekend it has missed. On closer inspection it hasnt auto invested in any for 3 days now.

It might be broken completely.

[Dan@Harmoney]

Hi, if Auto-lend does not place an order in a loan that meets your filter criteria it will be because the Auto-lend has met its maximum allocation for that loan and the priority of your order was below the cut-off. There is more detail on how Auto-lend prioritisation works here: https://www.harmoney.co.nz/how-it-works/auto-lend

OK
Maybe Kiwi_on_OE is right. The system missed yet another autolend that met my setup again today. That is several this weekend it has missed. On closer inspection it hasnt auto invested in any for 3 days now.

It might be broken completely.