Withdrawal requests slow as RateSetter maintains liquidity
RateSetter has revealed that withdrawal requests peaked on 16 March amid the coronavirus outbreak and have fallen since.
The peer-to-peer lender said it was maintaining liquidity for investors.
It revealed in an update to investors that £4.7m was withdrawn from the platform between the 16 and 22 March, with £1m taken yesterday (23 March).
The platform told investors on 13 March that withdrawal requests were taking longer than usual.
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“The requests are being delivered in chronological order, within our different markets,” RateSetter said.
“We are currently delivering requests from the week commencing Monday 9 March.
“We will continue to keep you updated.
“We have delivered for investors before in challenging circumstances and we will do so again.
“Our focus is also on ensuring the safety of your money as well as the availability, because in a world where share portfolios have tumbled RateSetter has remained stable, albeit less liquid access than in normal conditions.”
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