Mine tend to be more Saturday offers than any other day of the week. Our busiest days are Wednesday-Sat and I tend to get a late night Saturday offers than any other day.
I’ve had some late Friday take till Monday and Tuesday deposit. My last one was 30 minutes max and deposit that night. I’m sure there are some accounts that are reviewed and others random. The timing of the Holidays and mid-week really slows things down from approvals to offers on down. Hopefully, we can get back to normal here soon!
Hello, I use Square Savings as well! I love it because it's kinda out of sight and out of mind and I don't touch it. As far as loans go. They have been updated up top and explain why the changes are happening. I know most of us pre-COVID were used to that 70% range and could almost guarantee an offer any swipe away. Unfortunately, it was the rollover of 30% eating into your new offer that we could have used for our business that would have helped stretch it out. For about a year and a half, it has been trending higher percentage for the majority of the users. Not all, as we are all different types of businesses and process differently. 85-95% paid off is about the new norm. You will pop in around 70% and a few completely pay off. With the algorithm, there is no way to guarantee if or when it picks you off from a million other users. Loans go out by the thousands every day all day. It doesn't stop. The algorithm does 95% of all of it unless it kicks it out for a human to look at. This is not just Square! All POS services especially loan-based ones and both you mentioned use an algorithm to determine your offer and when. Once you start with them you do start from day 1 ( regardless of whether a rep promises you a guaranteed offer on day 1) that's their job is to get new business. I always tell people who are on the fence go read their public forums, Reddit, etc. 100% of the same topics pop up. The economy and the market have also come into play. Each of these lenders has shareholders to answer to and account for all these loans. So, when I ask people how your metrics and they reply good. That's great, but they are looking for growth, an increase in sales, an increase in swipes, and new customers. A healthy business and no negatives like chargebacks, disputes, etc. All I stated is posted above on click here button and the rest is a simple Google search or asking AI. Good luck honestly! Hold tight they are still lending every day. Keep pushing forward and kick in one of the key points I stated and see if that will trigger a look at your account. I hope this helps explained everything and why.
I'm going to go with @Minion with this. If they don’t need anything unfortunately, for a couple of weeks it was pretty slow so I’m sure it’s backed up. It not even be you but a dozen ahead of you holding or slowing things up. The Holidays landing on Tues/Wed really mess things up. Good luck and keep watching your dashboard and not just an email.
Congratulations!!!! Well, you sound like me when I call customer service 😂 if I don’t like the first answer or they are new and put me hold 7 times to see if they can find out that answer then I let them go and wait a few and call back. That’s the bad part you can call 5 times and get 5 different answers with our cable provider and finally I’m done and want a supervisor please! I’m glad it worked out for you! Honestly, weekends tend to longer so does especially the Christmas and New Years timeframe especially right in the middle of the week. I looked back 3-4 years and just about every one was posting 3-5 business days.
Beautiful! Just an FYI in the future if you’re stuck again look at the calendar and see what federal holiday you missed or those late night/early Saturday morning offers. I’m a Saturday for the most part and Monday for the most part if not Tuesday it’s there! Now, if you get in that spot again a little info for you go to your loan board and look at previous loans and if you’re current loan is in and paid even though no cash yet. It’s processed you’re just playing the waiting game. My little credit union shows pending deposit and I can usually see it there on a Saturday for Monday too. Just a couple of different ways to check instead of the scripted call.
