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[HollowOak]

I noticed this after the major overhaul to launch "New Prosper."

Preceding that event, it was possible to have standing transfers. If there was enough money in one's account, they would fire and transfer the stated amount out. If not, the transfer would fail and be rescheduled for the next scheduled date. This was convenient and a low-cost activity for Prosper, since there were no actual costs beyond simply running the transfer to see if there was enough money in one's account.

After "New Prosper," I noticed that some of my standing transfers were missing. I rescheduled some (it wasn't possible to schedule new ones after the amount in my account had been committed).  Today I received my 3-year anniversary card from Prosper and I thought I'd sign in to see how my oldest loan was stacking up. Imagine my dismay when I noticed that most of my standing transfers had been canceled again.

Anyone else noticing this?  What is the benefit of not allowing inactive lenders that are prohibited by rules and regulations from lending to transfer their money out? One has to start wondering how Prosper benefits from having our money in their FBO account (and if it still is an FBO account).

Of course, the load on their servers from all the inactive lenders logging in to reestablish their failed transfers will be significantly higher than simply checking to see if a standing transfer should be scheduled. But are they perhaps hoping that additional eyeballs on their site will tempt eligible lenders back? Would that be enough incentive to do this?

As usual, I've sent a email to Prosper. When an explanation comes forth, I shall update here.

[bamalucky]

You are basically banned..

Standing orders never work he you are banned.

[DCS]

Same thing happened to me.  I had automatic scheduled transfers for every day of the week, and an additional big monthly one.  They're all gone from the "Scheduled Transfers" list now.

Also, under "Past Transfers", the most recently scheduled automatic transfers (including the big monthly one set to happen in early June) are shown as "Failed."  Prosper must have cancelled them all.

[ira01]

You are basically banned..

Standing orders never work he you are banned.

HO's not banned.

[Urbi_et_Orbi]

Yep - my standing outbound transfers have been deleted.  I have, of course, received no notification from Prosper of this action being taken.

[bamalucky]

You are basically banned..

Standing orders never work he you are banned.

HO's not banned.

Sure he is,as are lenders in 49 states..

[Xenon481]

Prosper has always done this for Suspended (Banned) members.  I had a thread where I went off about it:

http://www.prospers.org/forum/prosper_cancelled_my_transfers_updated_62008-t7267.0.html

It appears that they are now essentially considering anybody outside of California as Suspended.

[ira01]

Prosper has always done this for Suspended (Banned) members.  I had a thread where I went off about it:

http://www.prospers.org/forum/prosper_cancelled_my_transfers_updated_62008-t7267.0.html

It appears that they are now essentially considering anybody outside of California as Suspended.

Yes, as a banned lender, I knew that -- but I doubt Prosper is treating all non-CA lenders as "suspended."  For example, suspended lenders cannot see extended credit data, and cannot send PM's -- is that the case for non-CA lenders?  This seems like either a bug or a "feature."

[Xenon481]

Prosper has always done this for Suspended (Banned) members.  I had a thread where I went off about it:

http://www.prospers.org/forum/prosper_cancelled_my_transfers_updated_62008-t7267.0.html

It appears that they are now essentially considering anybody outside of California as Suspended.

Yes, as a banned lender, I knew that -- but I doubt Prosper is treating all non-CA lenders as "suspended."  For example, suspended lenders cannot see extended credit data, and cannot send PM's -- is that the case for non-CA lenders?  This seems like either a bug or a "feature."

True, I had forgotten about that part until I just recently regained Suspended status.

[ira01]

Prosper has always done this for Suspended (Banned) members.  I had a thread where I went off about it:

http://www.prospers.org/forum/prosper_cancelled_my_transfers_updated_62008-t7267.0.html

It appears that they are now essentially considering anybody outside of California as Suspended.

Yes, as a banned lender, I knew that -- but I doubt Prosper is treating all non-CA lenders as "suspended."  For example, suspended lenders cannot see extended credit data, and cannot send PM's -- is that the case for non-CA lenders?  This seems like either a bug or a "feature."

True, I had forgotten about that part until I just recently regained Suspended status.

I haven't gotten to that thread yet -- How long past the arrival of Prosper employees this morning did you last?   

[Urbi_et_Orbi]

I can't remember the last time another purveyor of securities gave me what amounts to a "time out" whereby I was precluded from accesing my account or viewing data related to my securities.

[Xenon481]

True, I had forgotten about that part until I just recently regained Suspended status.

I haven't gotten to that thread yet -- How long past the arrival of Prosper employees this morning did you last?   

They killed my listing and gave me a 30-day suspension around 2pm Pacific.

[ira01]

True, I had forgotten about that part until I just recently regained Suspended status.

I haven't gotten to that thread yet -- How long past the arrival of Prosper employees this morning did you last?   

They killed my listing and gave me a 30-day suspension around 2pm Pacific.

Wow, it took them 5 whole hours! 

[Xenon481]

True, I had forgotten about that part until I just recently regained Suspended status.

I haven't gotten to that thread yet -- How long past the arrival of Prosper employees this morning did you last?   

They killed my listing and gave me a 30-day suspension around 2pm Pacific.

Wow, it took them 5 whole hours! 

Probably more like 30 minutes.  You can't work on an empty stomach before lunch and they all deserve a long lunch.

[God-Father]

Same thing happened to me.  I had automatic scheduled transfers for every day of the week, and an additional big monthly one.  They're all gone from the "Scheduled Transfers" list now.

Also, under "Past Transfers", the most recently scheduled automatic transfers (including the big monthly one set to happen in early June) are shown as "Failed."  Prosper must have cancelled them all.

So here is what I believe to be the scoop.  Any standing orders you had before Prosper 2.0 will poof the first time they fail (they may poof the first time they execute, pass or fail).  I have setup new standing orders since they have been back up and these are behaving the way they always have.