LendingClub no longer allows ACH/EFT withdrawals/transfer outs???

[smihaila]

This feature was working just fine until today. When I tried today to perform a withdrawal, to my perfectly valid external linked bank account, LC website had redirected me to a page stated that I do not have any linked account defined in the system. And suggested wire transfers or mailing a check. But when when I go to my account profile, I surely see my linked account - the same one which I have used 3 days ago for another transfer out. What gives?

Is anyone else experiencing the same? Could it be a bug or LC is starting to behave nasty?https://forum.lendacademy.com/Smileys/default/huh.gif" alt="???" title="Huh" class="smiley" />
Thank you.

[yojoakak]

I've never had a problem with it. Worked again tonight.

[Fred93]

https://forum.lendacademy.com/index.php?topic=4146.msg38264#msg88888888Quote"> from: smihaila on October 27, 2016, 10:16:19 PM

[rawraw]

I've made like 6 withdrawals over the past 3 days.  Working fine for me

[BruiserB]

https://forum.lendacademy.com/index.php?topic=4146.msg1#msg1">Quote"> from: Fred93 on October 27, 2016, 10:52:58 PM

[TravelingPennies]

https://forum.lendacademy.com/index.php?topic=4146.msg38269#msg88888888Quote"> from: BruiserB on October 28, 2016, 01:47:02 AM

[Debt Free]

Might have set off some anti-terrorism funding trigger?  Or an anti-account hacking trigger?  Most likely a simple glitch.

I'd try reactivating your linked account before getting too excited.

[TravelingPennies]

https://forum.lendacademy.com/index.php?topic=4146.msg38268#msg88888888Quote"> from: rawraw on October 28, 2016, 01:42:38 AM

[TravelingPennies]

https://forum.lendacademy.com/index.php?topic=4146.msg1#msg1">Quote"> from: yojoakak on October 28, 2016, 04:36:52 PM

[TravelingPennies]

https://forum.lendacademy.com/index.php?topic=4146.msg38271#msg88888888Quote"> from: Debt Free on October 28, 2016, 02:41:44 AM

[TravelingPennies]

https://forum.lendacademy.com/index.php?topic=4146.msg38275#msg88888888Quote"> from: smihaila on October 28, 2016, 05:25:48 PM

[TravelingPennies]

I've finally got an e-mail reply from LC:

"We reviewed your account and see that you recently updated the bank account associated with your Lending Club account. Please note that the first transfer scheduled acts as a verification step for this new bank account information. Transfers to and from your Lending Club account are processed via Automated Clearing House (ACH) and take 4 business days to complete.

Please note that the pending withdrawal executed on 10/25/2016 and once the transaction completes processing you will be able to schedule additional transfers to and from your Lending Club account.

We hope this is helpful. Please feel free to contact us at (888) 596-3159 with any additional questions."

It all makes sense now. But nowhere in their link account setup they mention that any update (it wasn't a first-time addition) will trigger the 1st transfer making use of the new info, to be much slower and locking the system until they get some sort of ACH confirmation back. What is also interesting, is that that 1st transfer was cleared with my new credit union almost instantly - 1 day after the transfer was initiated on the LC side (Oct 25).

Thank you all for the heads up. Good that it's clarified now.

[TravelingPennies]

So if I understand you, you initiated a change in bank account in the midst of your transfers?  Yes, I could see that locking your account for a short period of time.  Only makes sense security-wise.

[TravelingPennies]

https://forum.lendacademy.com/index.php?topic=4146.msg38284#msg88888888Quote"> from: Debt Free on October 29, 2016, 12:05:04 AM