LendingCROWD NZ P2P

[malreid]

My payment came through last night.

[Saamee]

Have just been reviewing the latest "Investor Agreement" dated 20th March 2023... link below

Under "Investor Account" Clause 'E' it ONLY states "Any Time request funds be Xfered.

Us Investors have NEVER accepted anything else...

LC CLAUSE E.jpg

https://lendingcrowd.co.nz/content/f...rAgreement.pdf

[Saamee]

In full transparency.

Email sent to Wayne Croad ( Lending Crowd Managing Director )

Hi Wayne,




May I respectfully request you pass this Email on to the Lending Crowd Board ASAP.


You appear to have stopped answering my Emails


I am not sure why you would do that at this time.


Today I have filed a Complaint against Lending Crowd with the Financial Services Complaints Limited.


It would appear that Lending Crowd has acted against the Terms and Conditions as spelt out in the latest Investor Agreement dated 20th March 2023.

Note there are 4 earlier versions however I do not ever recall being asked to accept the newer T & C's.


Within the Investor Agreement - Clause 'Investor Account, sub clause 'E' it clearly states that an Investor can request Lending Crowd AT ANY TIME to transfer funds to the nominated bank account.


View the attachments for further confirmation.


I await any response that you may offer at this time.


My summary of the recent Lending Crowd actions are as follows...



"For some reason.... Some kind of knee Jerk reaction has unilaterally and arbitrarily been taken without any thoughts of ramifications and respect for your long term and loyal Investors and without following good governance where it comes to Investor Relations and updating relevant documentation"


Kind regards,

[beacon]

In full transparency.

Email sent to Wayne Croad ( Lending Crowd Managing Director )

Hi Wayne,




May I respectfully request you pass this Email on to the Lending Crowd Board ASAP.


You appear to have stopped answering my Emails


I am not sure why you would do that at this time.


Today I have filed a Complaint against Lending Crowd with the Financial Services Complaints Limited.


It would appear that Lending Crowd has acted against the Terms and Conditions as spelt out in the latest Investor Agreement dated 20th March 2023.

Note there are 4 earlier versions however I do not ever recall being asked to accept the newer T & C's.


Within the Investor Agreement - Clause 'Investor Account, sub clause 'E' it clearly states that an Investor can request Lending Crowd AT ANY TIME to transfer funds to the nominated bank account.


View the attachments for further confirmation.


I await any response that you may offer at this time.


My summary of the recent Lending Crowd actions are as follows...



"For some reason.... Some kind of knee Jerk reaction has unilaterally and arbitrarily been taken without any thoughts of ramifications and respect for your long term and loyal Investors and without following good governance where it comes to Investor Relations and updating relevant documentation"


Kind regards,

Count me in if you decide to take it further. I doubt good sense will prevail without intervention.

[beacon]

My payment came through last night.

Mine still hasn't, despite available cash in account. I'm with a mainstream bank.
Manual withdrawals used to come through to my bank same night before rule changes - so it appears they haven't AUTOMATICALLY processed my automatic withdrawal

[Mike64]

@Saamee

good on you Saamee, I highly appreciate your complaint step.
I had given them a few more days to improve or modify after my complaint mail.
Wayne had at least responded to my mail but not in a satisfying way at all.

It's my turn now to add onto your complaint Saamee!

Latest LC email from today 3.30pm: The entire website will not be accessible anymore from 11 December on. And their reports have even bugs and wrongs.

Horror how they manage their shut-down.

[Mike64]

...........

[Saamee]

That I cannot do for you!!


But I can make it easy for you by pointing you to the below Online Form...

https://fscl.org.nz/about-us/complaints/complaint-form/

[Saamee]

Count me in if you decide to take it further. I doubt good sense will prevail without intervention.

That I cannot do for You!!

But I can make it easy for you by giving you the link to the Online Form below.

https://fscl.org.nz/about-us/complaints/complaint-form/

[beacon]

That I cannot do for You!!

But I can make it easy for you by giving you the link to the Online Form below.

https://fscl.org.nz/about-us/complaints/complaint-form/

I wasn't talking about FSCL complaints. I was talking about litigation etc.