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Thread: Harmoney

  1. #531
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    I thought I'd ask your collective opinion about possibly starting a new thread. I've noticed a few issues with the Harmoney system, some might call them bugs. I mention them to Harmoney, but I wondered if you thought it was worth having a separate thread to highlight these issues to other users. Or just mention them here, or not at all?

    The latest issue I've seen is a loan in an order that is sitting at 0%, and the order was done a few days ago. The loan is no longer in the investment list. I'm pretty sure it wasn't at 0% when I first invested, so it looks like the loan/application has been stopped, but Harmoney have my money locked up and I can't invest it elsewhere as the loan in the order is still "In Funding".

  2. #532
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    Quote Originally Posted by kiwi_on_OE View Post
    I thought I'd ask your collective opinion about possibly starting a new thread. I've noticed a few issues with the Harmoney system, some might call them bugs. I mention them to Harmoney, but I wondered if you thought it was worth having a separate thread to highlight these issues to other users. Or just mention them here, or not at all?

    The latest issue I've seen is a loan in an order that is sitting at 0%, and the order was done a few days ago. The loan is no longer in the investment list. I'm pretty sure it wasn't at 0% when I first invested, so it looks like the loan/application has been stopped, but Harmoney have my money locked up and I can't invest it elsewhere as the loan in the order is still "In Funding".
    I had this issue a week or two ago, although mine was stuck at 98% but showing fully funded. It took several days and much back and forth between myself and a few Harmoney people to get it resolved. They said it was because the loan was a rewrite and then turned down by the borrower they had to wait while the refunds flowed around (Not their exact words, just my recollection). They said they were going to address the problem with a change, I guess that hasn't happened yet, or if it has then it was done incorrectly.

    I have my doubts about their explanation of the problem, it just didn't sound right to me.

  3. #533
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    Their IT systems have been a shambles right from the start - hence new management in that department. But it's still woeful.
    Have you noticed as you arrive at the login screen there is a message that says "You have successfully logged in"? - Doesn't give one much confidence!

  4. #534
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    Quote Originally Posted by Finite View Post
    Their IT systems have been a shambles right from the start - hence new management in that department. But it's still woeful.
    Have you noticed as you arrive at the login screen there is a message that says "You have successfully logged in"? - Doesn't give one much confidence!
    Yes I have seen that one, and;

    - % differences between the full site and the mobile site. My guess is one rounds down, the other up.
    - Navigation on the mobile site is terrible, back button takes you right out of the screen you are in to the top menu, instead of just the screen you are on, so when viewing a loan I am constantly kicked back because I use the back button all the time. (ok so thats a me thing)
    - There seems to be a real slowness in getting loan repayments to show in your account, I can tell when a loan payment has been received because the remaining payment count goes down about a day before the cash arrives. Right now I have 3 repayments doing this, and another due at the same time that is not doing this.
    - Lack of a full transaction history, I grab what I can automatically every day, but it is messy and makes it hard to reconcile things.

    I find their website to be lacking in so many aspects, perhaps I have picky because of my background (IT for 30 years).

  5. #535
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    I have not had any problems with their web site now for several months. I don't know much about IT but I was aware of quite a few shortfalls in the earlier months but now it seems to be ticking along nicely. Lately I have been taking out loans only in A B and C grades and I have noticed a decrease in my arrears and also, for some reason loans being paid off seems to have slowed right down. Maybe lack of funds ex Xmas?? All in all I am quite happy with my investment and my service fees so far are not much over the 1.25% which is a lot better than Lending Crowd.

    Ooops, That 1.25% was on total received, as a % of interest only it is 7.3% which is still better than Lending Crowd but not by much.
    Last edited by Soolaimon; 20-02-2016 at 08:33 AM.
    Soolaimon

  6. #536
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    Attachment 7898

    Have a look at these odd interest rates vs the grade

  7. #537
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    That is very odd, wonder what is going on?

  8. #538
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    Over a day now since I raised my issue with them and no response. But they have been doing something, as my order says it has two loans in it with an annual average interest rate of 0.6%!!! But the three original loans still appear in the order. It's just that one has not been filled. So I'm guessing they're doing some manually butchery of the data to make it sort of about right. Fingers crossed.

  9. #539
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    I took a photo of Loan LAI-00055155 11/2/16 @ 8.47am .... because, at the time it struck me as surely a Harmoney error ... i wonder did anyone here invest in it ... if so has the income figure been altered? ...
    The loan showed monthly income after tax as $22,333.33. (can't see why they'd need to borrow 25,375)
    single person aged 20-29

  10. #540
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    Didn't put anything into that one, I have seen similar things before though. As a general rule if their income seems way higher than what I consider likely then I won't touch it (figuring either they gamed the system and are lying, or there is a bug in the harmoney system, either way it makes me uneasy).

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