Squirrel Money Investor Reviews

A couple of suggestions -

When a loan is taken up, put the details in the "Sit back" email so I know how much and at what rate it was accepted.

Allow users to put up multiple offers in different categories with the same cash. Eg I have $500 and would be happy to lend it at 8.5% for 3 years OR 9% for 5 years. But I can't put 2 orders in. Perhaps there is a way I could put 2 orders and have 1 fall away when the other is taken up?

Keep up the great service!

Simple, transparent service with real time investments.

Slightly prefer the web and options available with ratesetter.com.au

Some of the words used are a little odd like .....entity ?? Still not sure what you are referring to.
It would be nice if the repayments attracted a minimal amount of interest while waiting to be reinvested. Otherwise great

Easy to set up the account. The investment method is a little confusing initially, but managed to start. Not knowing anything about the borrower other than the interest agreed and the period makes the investment very remote.
I will certainly build up a portfolio with Squirrel Money

I gave up with the message of identification validation error. I have tried several time to photo my driver license, but it kept error.

It's OK, but in my experience most of the investments are repaid early, quite often well before the initial end of term date which can mean that income steam isn't constant and lacks the 'set and forget' aspect of other P2P platforms as a result.

You have released a lot of information about how the investments work, but there is very little information on how to use the platform. I still find it confusing on how to invest my money into loans. A step by step guide would be really handy.

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.

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..

To use the platform effectively, you have to keep active as the auto-bid features are limited & not very successful unless you are looking for a low interest return. There are a lot of emails and they're not very informative.

As I'm a new investor I was a little unsure about how long it would take for my order/s to be picked up. Some guiding information on this may be useful, just to have some idea of the likely timing from order placement to loan investment.

Very difficult to work out how things work. Spent ages trying to get an investment to actually work out. have found other peer-to-peer sites much easier to use. You have no basic guidelines easily found, if any at all.

I have been investing with Harmoney for sometime but joined Squirrel to spread my risk and can see that there is less risk with Squirrel because of your investor fund. Having that said it takes a long time to get your money placed with Squirrel.
I spoke to your staff and they suggested choosing a lower rate which i'd already done twice in the hope of getting some funds placed but it still took many weeks to finally today, about 6 weeks later i got one $500 investment placed.
I have 20k to invest in Squirrel but i'm now placing some of that into Harmoney because Squirrel can't absorb my funds quick enough. I would suggest that Squirrel may be losing customers and income by not getting investors money placed quicker.With Harmoney i can place funds every day. Squirrel has taken about 6 weeks to finally take up 1 order.

Pretty good overall, with two minor suggestions:
1. It would be good if investors could peruse interest rate bids without having to go half-way through placing a new bid.
2. Regular updates of the Reserve Fund usage and balance would be helpful, to gauge its effectiveness.