New Rule of not holding funds#160

This new rule is not suitable for me, a senior (over 70 yrs old). I deliberately hold excess funds in my account until a short-term loan becomes available for investment. At my age I don’t want to be holding long-term financial obligations. So, the new rule arbitrarily assigns my excess funds to whatever loans are available, the first one streteching out 10 years. If this continues, I will have to stop all re-investment and begin liquidating my account.

Hello Jeff,

I understand your concerns and appreciate you sharing how this change affects you, especially given your preference for short-term investments.

As Trine is a registered payment institution under the supervision of the Swedish Financial Supervisory Authority and not a bank, we are not permitted to hold cash in your account over time. Due to these regulatory obligations, investor funds cannot remain in your account for more than 30 days. This is why it is mandatory to select how you would like your repayments to be handled, either through automatic withdrawals to your bank account or automatic reinvestments according to your chosen investment criteria.

With the automatic reinvestment option, you can set a schedule that allows up to 30 days to decide on a new investment. You can update this setting here: https://trine.com/monthly

You can also set the maximum loan payback period, and we will match any loan payback period equal to or lower than the selected value.

I hope this helps to clarify. Please do not hesitate to reach out if you have any more questions.

Best,
Liz

Liz,

Many thanks for your prompt and detailed response. I will research the ‘maximum loan payback period’ option - Jeff