Squirrel Money Investor Reviews

4.0 Overall Satisfaction Rating

Based on 90 Ratings

5
30 (33.3%)
4
38 (42.2%)
3
18 (20%)
2
3 (3.3%)
1
1 (1.1%)
30 5 stars in a row

Would Invest Again

4.4 Average

5
(58)
4
(20)
3
(6)
2
(5)
1
(1)

Price Satisfaction

4.2 Average

5
(33)
4
(41)
3
(14)
2
(1)
1
(1)

Recommend This Company

4.1 Average

5
(39)
4
(29)
3
(17)
2
(4)
1
(1)

Customer Service

4.1 Average

5
(21)
4
(10)
3
(6)
2
(2)
1
(2)

Investing Process

3.7 Average

5
(29)
4
(26)
3
(19)
2
(11)
1
(5)

Shopper Approved actively collects reviews from actual verified customers, which helps more accurately reflect customer’s overall satisfaction with this company.

Squirrel Money Investor

About Us

Squirrel is not a tech start-up. We’ve been in the business of helping Kiwis borrow money since 2008.

Squirrel was born during the Global Financial Crisis so we’ve got a natural cynicism about the economy and being prudent. We’ve worked hard for our clients and built a strong and trusted brand in the Auckland housing market, arranging over $2 billion in mortgages. And along the way we’ve also won a heap of awards.

Our business is all about helping Kiwis make better financial decisions.

Peer-to-peer – or as we like to call it, person-to-person lending, was an obvious next step for us. It gives everyday investors better returns at the same time as saving borrowers their hard-earned money. By putting Loan Shield in place and building a world class IT platform (the Squirrel Money Marketplace) we also take looking after our investors’ money seriously.

Squirrel Money is about us challenging lending traditions to create more value for our clients. It’s not revolutionary or scary, it’s just personal lending, done better. We believe in total transparency and you’ll find we’re honest and open about how we work, where our funding comes from and what’s happening with your money.

Visit squirrelmoney.co.nz

S

steve
1 week ago , auckland

4.0
Overall Satisfaction Rating

Its a little confusing as to the quality and awareness around the borrower. Harmoney were more transparent on their background. this is more just pot luck.
Recommend this Company
4/5
Price
4/5
Would Invest Again
4.0
Investing Process
3.0
P

PWeb
2 weeks ago

4.0
Overall Satisfaction Rating

At first, way too slow but there are more borrowers now.
Then a tad confusing; I took a while to understand what Squirrel means by recurring loans compared to my thinking on them.
Still a few small gaps (such ae getting an email saying my deposit has been processed but not seeing that reflected when logging in) - but generally the experience is good.
Recommend this Company
4/5
Price
3/5
CustomerService
5/5
Would Invest Again
5.0
Investing Process
3.0
A

Anon
03/18/2020 , Auckland

3.0
Overall Satisfaction Rating

I guess you guys must have been busy. Funds were sitting around for a month before I changed them to one of your new funds - easy from now on I hope.
Recommend this Company
3/5
Price
4/5
CustomerService
4/5
Would Invest Again
4.0
Investing Process
2.0
J

Jiri C.
03/12/2020 , Auckland

5.0
Overall Satisfaction Rating

I've been with Harmoney for almost 3 years and your platform is far more superior, will move to you little by little
Recommend this Company
5/5
Price
5/5
CustomerService
5/5
Would Invest Again
5.0
Investing Process
5.0
S

Steve G.
02/20/2020 , Northland

4.0
Overall Satisfaction Rating

Overall loving the Squirrel experience, very easy-to-use web site, and happy to recommend the service to friends. However there are a few minor frustrations. Firstly that the time taken from placing an investment order to it being allocated to a new loan is quite long, averaging 16 days for the minimum interest rate. There is no indication as to where your orders are in the queue. Furthermore no real indication as to how many loans have been activated in a given period e.g. last 2 business days. This is desirable to illustrate the popularity of Squirrel from the borrowers perspective. Displaying "volume of recent loans" is meaningless. The demand for new orders has been consistently well ahead of borrower's seeking funds, therefore there has been no benefit to seeking an interest rate other than the minimum e.g. 7.5% on 5/7 year loans. However I note that shortly there will only be one rate per product anyway. Keep up the great work!
Recommend this Company
4/5
Price
4/5
CustomerService
4/5
Would Invest Again
5.0
Investing Process
3.0
J

Jane
02/13/2020

4.0
Overall Satisfaction Rating

I think you've done a good job of trying to make the process accessible and transparent but it is not that easy, or rather, it is slow to get your money into an investment. I realise why, but that part of the process is hidden and therefore feels secretive. There is the suspicion that you deliberately take a long time so you can have use of that money. Hatch, for example, puts any money in your account into an overnight fund and pays out on that. I would rather you did that and built a slightly higher fee into your returns because then I can see what's happening. Its hard to know, when your money has been sitting there for a couple of months at the lowest interest rate whether its better to leave it there in the hope that it'll be taken up shortly or take it out and invest it elsewhere.
Recommend this Company
5/5
Price
4/5
Would Invest Again
5.0
Investing Process
3.0
D

Dan
02/07/2020 , Nelson

5.0
Overall Satisfaction Rating

I would like the old option of 2. Years or 3 not left to chance
Recommend this Company
5/5
Price
5/5
Would Invest Again
5.0
Investing Process
4.0
J

Jeremy
01/16/2020 , Christchurch

4.0
Overall Satisfaction Rating

I like Squirrel's set and forget approach to P2P, with just the occasional check required to confirm that my auto-invest is at an appropriate timeframe and rate.
Recommend this Company
5/5
Price
5/5
CustomerService
5/5
Would Invest Again
5.0
Investing Process
5.0
K

Kangwan
01/13/2020

5.0
Overall Satisfaction Rating

Far better than money in the bank and easy to use.
Recommend this Company
5/5
Price
5/5
Would Invest Again
5.0
Investing Process
5.0
P

PAK
12/27/2019 , Auckland

5.0
Overall Satisfaction Rating

Very happy with my Squirrel investment. Platform works well and so easy to monitor using the app. Returns are good and much better than at the bank. Have been an investor since Jan 2016. Highly recommended.
Recommend this Company
5/5
Price
5/5
Would Invest Again
5.0
Investing Process
5.0
M

Mark
11/07/2019 , Christchurch

4.0
Overall Satisfaction Rating

Easy platform to use.
Recommend this Company
4/5
Price
4/5
Would Invest Again
5.0
Investing Process
4.0
R

Rudi P.
10/03/2019 , Auckland

5.0
Overall Satisfaction Rating

I'm very excited about using the Squirrel platform to diversify my investment portfolio. Looking forward to many great returns.
Recommend this Company
5/5
Price
3/5
CustomerService
5/5
Would Invest Again
5.0
Investing Process
5.0
S

Stephen
08/28/2019 , Mangawhai

4.0
Overall Satisfaction Rating

Early days yet for our relationship with Squirrel, but first impressions are very positive. The two aspects that we are still coming to grips with is firstly the optimum amount to place on an investment order and how long we will have to wait for the order to be applied to a loan. We need to keep the amount at a relatively lower level so as to potentially benefit from a speedy sale if we need to abandon the loan, but just want a small portfolio of loans so that we do not need to spend time overseeing our account. As there seems to be currently a large pool of investors we have selected the minimum interest rate in each category so as to "get in the queue". We are assuming that in doing this others cannot "overtake us" in the queue and therefore only a matter of time before our investment orders are allocated to new loans. The service received from Squirrel, both phone and email, has been first-rate from the communication and information perspective.
Recommend this Company
5/5
Price
4/5
CustomerService
5/5
Would Invest Again
5.0
Investing Process
3.0
C

Charlotte D.
08/07/2019 , Canterbury

2.0
Overall Satisfaction Rating

As a first time investor I have read up quite a bit on how it all works including anything I could find through squirrel money. The only thing was when it can to actually investing navigating process was a bit difficult and I asked customer service and they where great. Maybe a little video on how to invest on your website for first timers showing that you can choose the interest rate as I thought it was set for the years you picked and I didn't realise the lower the interest the quicker your investment gets picked. Otherwise great thank you
Recommend this Company
5/5
Price
4/5
CustomerService
5/5
Would Invest Again
5.0
Investing Process
3.0
K

Kenneth M.
06/18/2019 , Auckland

2.0
Overall Satisfaction Rating

I also invest in Lending Crowd and Harmoney and your platform is the trickiest. Apart from the lack of loans the process doesn't seem quite right.
Recommend this Company
2/5
Price
3/5
Would Invest Again
2.0
Investing Process
1.0
D

Dean
05/14/2019 , Tauranga

1.0
Overall Satisfaction Rating

I signed up with Squirrel about 6 weeks ago and immediately transferred $10,000. As a trial, before investing more, I distributed the money across 6 investment orders, ranging from low interest rate to high and in the 2-3 year and 5-7 year brackets. I also picked interest rates showing very few other user bids so the queue would be short. I have been very disappointed how long it has taken for the money to be invested. A 6.55% interest rate investment (2nd from bottom) took 5 weeks to finally be invested. And I was offered a Marketplace investment yesterday which I accepted. The rest of the money is still sitting there making no interest. I reached out several time to the Helpdesk trying to get clarity about how long it generally takes for funds to invested. The answers I got were generic and did not offer any new information that differed from what was already available on the website. So far it has not been a positive experience. The $10,000 was a trial with the outlook of investing far more. At this point I am very hesitant to attempt investing any more.
Recommend this Company
1/5
Price
4/5
CustomerService
1/5
Would Invest Again
1.0
Investing Process
1.0
A

Ansel R.
04/04/2019 , Auckland

5.0
Overall Satisfaction Rating

I think the Homeowners Loan is an excellent idea, helping people get to 20% deposit to qualify for better rates. I will be investing as much as I can into it. I wish it had been available to me when I got my mortgage. Squirrel Money is providing an important service at the same time as a really good investment opportunity, exactly what I had hoped peer to peer banking would be.
Recommend this Company
5/5
Price
5/5
CustomerService
5/5
Would Invest Again
5.0
Investing Process
5.0
P

Philip W.
03/09/2019 , Christchurch

5.0
Overall Satisfaction Rating

best P2P provider in New Zealand
Recommend this Company
5/5
Price
5/5
Would Invest Again
5.0
Investing Process
5.0
T

Tiger
02/19/2019 , Auckland

5.0
Overall Satisfaction Rating

Seamless process to invest.
Recommend this Company
5/5
Price
4/5
Would Invest Again
5.0
Investing Process
5.0
R

Robert L.
02/04/2019 , Lower Hutt

3.0
Overall Satisfaction Rating

My page still says that im awaiting identity verification, this was a I. T. issue when i first signed on, i have obviously been able to invest so it has been sorted, but not a professional look especially when i show friends, colleagues etc and im guessing word of mouth would be a larger part of you guys bringing on new clients, just a small thing, but not a great look..
Recommend this Company
3/5
Price
2/5
CustomerService
2/5
Would Invest Again
3.0
Investing Process
2.0
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