RateSetter investors have four days left to request investment withdrawals before they will be stopped, until the platform starts returning all money to lenders from 2 April.
The platform is closing the peer-to-peer lending side of its business next month after Metro Bank agreed to purchase its remaining loan portfolio.
The bank had already been funding all new consumer lending on the RateSetter platform following its acquisition of the lender in September 2020 and it was announced last month that it will also purchase its legacy loanbook on 2 April.
P2P accounts will be closed from 2 April and all invested money will be returned to investor holding accounts.
Investors can request their invested funds earlier by 26 March.
RateSetter will stop investment withdrawals from 26 March in preparation for Metro Bank’s takeover of its remaining consumer loan portfolio.
Auto-invest instructions from a bank account to RateSetter will be cancelled from 26 March and investment releases cannot be requested after the same date.
The usual early release fee will apply until then but there is no charge once all the money is repaid as part of Metro Bank’s portfolio purchase.
Funds will be sent to investor holding accounts between 2 April and 6 April.
RateSetter has written to investors to remind them to check if their bank details are correct and for its Innovative Finance ISA (IFISA) users to consider where they may want to transfer their funds to.