Hi Everyone,

I'm back I was temporarily blocked and two of my posts deleted so I am reposting along with some more info.

First we had a huge spike in usage this morning about 8 hours ago that caused the app to be slow - very sorry about this we have upgraded our servers to avoid this happening again. Thank you for your support and continuing to support as we grow.

1. passfolioapp.com is our old domain and still listed in some places we are working on updating it everywhere. 2. The instant withdrawal problem has been fixed and any pending ones were processed and should be much faster in the future. Instant withdrawals from the crypto wallet process 24x7. Instant withdrawals from the stock wallet only process between 11:00 and 19:30 WAT Monday through Friday (excluding US market holidays) - if you request a withdrawal outside that window it will process during the next open window.

3. Debit/Credit card deposits - we are working on this and hope to launch it soon. We have to get our compliance team to approve it which we're working on.

4. Performance Calculations - we recently changed the algorithm to use Time Weighted Rate of Return (TWR - https://www.investopedia.com/terms/t/time-weightedror.asp) because it more accurately reflects your actual investment performance and added in crypto performance so these numbers may have changed a lot. Previously we used a simple profit/loss calculation and it was stocks only. We are aware of a few bugs we are fixing such as the total and daily return does not sum exactly to the total and daily return of the individual assets. One problem is crypto trading is 24x7 and stock is not so we need to align the time windows in the calculations. Also a note with TWR is that it is possible to have a positive dollar return but negative percent or vice versa and it is correct - see https://www.marottaonmoney.com/why-do-i-have-a-positive-return-with-a-negative-gain/.

5. We learned that the problem with one of the withdrawals was that the Nigerian bank is rejecting it. I'm told most Nigerian savings accounts have a limit of N20,000 or N50,000 per transfer and to increase it you must give instruction and execute indemnity at any of the bankʼs business offices for higher limits. If we run into this problem we will contact you and let you know. Once you fix it we will then process the withdrawal.

Sincerely,
David Gobaud
Passfolio CEO & Founder

Hi Everyone,

I'm back I was temporarily blocked and one of my posts deleted so I am reposting along with some more info:

1. passfolioapp.com is our old domain and still listed in some places we are working on updating it everywhere.

2. The instant withdrawal problem has been fixed and any pending ones were processed and should be much faster in the future. Instant withdrawals from the crypto wallet process 24x7. Instant withdrawals from the stock wallet only process between 11:00 and 19:30 WAT Monday through Friday (excluding US market holidays) - if you request a withdrawal outside that window it will process during the next open window.

3. Debit/Credit card deposits - we are working on this and hope to launch it soon. We have to get our compliance team to approve it which we're working on.

4. Performance Calculations - we recently changed the algorithm to use Time Weighted Rate of Return (TWR - https://www.investopedia.com/terms/t/time-weightedror.asp) because it more accurately reflects your actual investment performance and added in crypto performance so these numbers may have changed a lot. Previously we used a simple profit/loss calculation and it was stocks only. We are aware of a few bugs we are fixing such as the total and daily return does not sum exactly to the total and daily return of the individual assets. One problem is crypto trading is 24x7 and stock is not so we need to align the time windows in the calculations. Also a note with TWR is that it is possible to have a positive dollar return but negative percent or vice versa and it is correct - see https://www.marottaonmoney.com/why-do-i-have-a-positive-return-with-a-negative-gain/.

5. We learned that the problem with one of the withdrawals was that the Nigerian bank is rejecting it. I'm told most Nigerian savings accounts have a limit of N20,000 or N50,000 per transfer and to increase it you must give instruction and execute indemnity at any of the bankʼs business offices for higher limits. If we run into this problem we will contact you and let you know. Once you fix it we will then process the withdrawal.

Sincerely,
David Gobaud
Passfolio CEO & Founder

Hattbricker:
Who has successfully made a withdrawal with passfolio? I made a withdrawal almost 20hours now even though I chose instant withdrawal and they charged extra fees for that but nothing in my account and when I contacted them, they said they've sent the funds already. Don't know what next to do.

Hi Hattbricker,

This is David the founder of Passfolio - thank you for using Passfolio! I want to reassure you that if you submitted a withdrawal it is being processed. All withdrawals have been processed on time except for three. Two withdrawals had an error saying the bank was unavailable at the time of the request. When this happens we resubmit the withdrawal periodically until it processes. One of these happened maybe 1-2 weeks ago and was completed and there is another one right now we are working on processing.

One additional problem has come up with a misconfiguration in Flutterwave that we are working to fix ASAP that is impacting one withdrawal (I'm guessing yours). We only recently launched the Nigeria forex support so this bug is new but Flutterwave should fix the issue Wednesday Nigeria time. You did select instant so it should have processed by now - if you're the user that emailed support we already replied and gave a reward for the amount of the fees because of the issue. Sorry for the delay and we are working to get it distributed ASAP. If you have any other questions you can email support@passfolio.us or me at david at passfolio.us

Sincerely,
David Gobaud
Passfolio CEO & Founder