Squirrel Money Investor Reviews

About this Company

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 $10 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 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 Reserve Funds in place and building a world class IT platform (the Squirrel P2P Marketplace) we also take looking after our investors’ money seriously.

Squirrel Investing 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 squirrel.co.nz/invest

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123 Verified Customer Reviews

123 Customer Ratings and Reviews

Shopper Approved collects trusted reviews from customers who have made a verified purchase.

4.0

Overall Star
Rating

5 Shopper Approved - Review Star
48
(39%)
4 Shopper Approved - Review Star
44
(35.8%)
3 Shopper Approved - Review Star
22
(17.9%)
2 Shopper Approved - Review Star
6
(4.9%)
1 Shopper Approved - Review Star
3
(2.4%)

Price Satisfaction
4.2
5 Shopper Approved - Review Star
51
4 Shopper Approved - Review Star
51
3 Shopper Approved - Review Star
17
2 Shopper Approved - Review Star
2
1 Shopper Approved - Review Star
2
Would Recommend
4.1
5 Shopper Approved - Review Star
59
4 Shopper Approved - Review Star
33
3 Shopper Approved - Review Star
21
2 Shopper Approved - Review Star
6
1 Shopper Approved - Review Star
4
Customer Service
4.1
5 Shopper Approved - Review Star
30
4 Shopper Approved - Review Star
10
3 Shopper Approved - Review Star
6
2 Shopper Approved - Review Star
3
1 Shopper Approved - Review Star
4
SHOW DETAILS

5-star reviews
48

5-star reviews

5 years collecting reviews

About this Company

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 $10 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 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 Reserve Funds in place and building a world class IT platform (the Squirrel P2P Marketplace) we also take looking after our investors’ money seriously.

Squirrel Investing 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 squirrel.co.nz/invest

Filter
A
Anonymous Customer
06/16/2017 , Helensville

Hi there, a minor improvement would be to be able to see the dollar amounts that have been bid by investors at the various interest rates. This would give you some idea how likely your bid is to go through when looking at the amount of qualified borrowers. Overall seems to be a excellent platform.

Would Recommend
4/5
Price
5/5
Would Invest Again
5/5
Investing Process
4/5

S
Simon
05/17/2017 , Nelson

The website is good and informative. It is dissapointing that the minimum investment each time is $500.00 as this places quite a bit of trust with Squirrel not to get a dud borrower, and reduces the ability of a lender to spread risk a little better. It would be preferable if the minimum was $100.00. I am giving Squirrel a trial for a while in comparison with the other Peer to Peer lenders to try to get a better idea on who can be trusted, and how fees actually impact returns. The Squirrel fees seem to be "fudged " as there seems to be a deduction against principal repaid, as well as interest repaid. I will be interested to see how that works out as it is wrong in my view to make deductions against principal repayments, if that is in fact the case. Fees should in my view only be against interest actually earned.

Would Recommend
3/5
Price
4/5
Customer Service
5/5
Would Invest Again
3/5
Investing Process
4/5

M
Michael S.
05/13/2017 , Auckland

The user interface needs work,
but the underlying idea is great.

Would Recommend
4/5
Price
4/5
Would Invest Again
5/5
Investing Process
2/5

G
Grant S.
05/11/2017 , Stillwater

Hi Squirrel,

service and everything has been great so far.

Just wondered why all the investments are in $500.00 lots?

Kind Regards,
Grant Scurr
0273 501 042

Would Recommend
5/5
Price
5/5
Customer Service
5/5
Would Invest Again
5/5
Investing Process
5/5

J
J. C.
05/11/2017 , Lower Hutt

I find the website is counter-intuitive; it's hard to figure out how to actually invest your money.

Would Recommend
3/5
Price
4/5
Investing Process
1/5
Would Invest Again
5/5

L
LANCELOT C.
05/06/2017 , Alexandra

Hi there,This platform is totally different from others I have used and I am slightly concerned about the lack of information about the investments. Cheers Lance

Would Recommend
3/5
Price
4/5
Customer Service
5/5
Would Invest Again
5/5
Investing Process
2/5

K
Kelvin M.
05/06/2017 , Blenheim

New to this type of investment platform. There is some delay transferring money in and waiting for money to be invested. I was unsure about the bid process. Seems to be OK, will be good to see how it works and get some returns and reinvest over time.

Would Recommend
4/5
Price
4/5
Would Invest Again
4/5
Investing Process
3/5

H
Harry
04/13/2017 , Wellington

I found the investment process a bit too complicated. On Harmoney you don't have to mess around choosing an interest rate etc. Overall I think the product needs to be more streamlined and simple for newcomers.

Would Recommend
3/5
Price
5/5
Would Invest Again
4/5
Investing Process
3/5

E
Enda C.
04/13/2017 , Wellington

The investment process isn't very intuitive, the Harmoney setup is far simpler and clearer. Perhaps some video guides would help.

Would Recommend
4/5
Price
3/5
Would Invest Again
5/5
Investing Process
3/5

R
Roger E.
04/13/2017 , Auckland

I had to resort to the Customer Care Resolution service when a complaint was dealt with in an unsatisfactory manner, however, eventually the manager contacted me and quickly resolved the issue. Initially I found the method of investing money a little complex but I have now mastered it. I use this site as I believe it is a fairer loan/borrow site than other P2P companies as I have a bit of a problem loaning money at a rate of up to 39% which I consider a bit immoral. To date I have had no defaulting borrowers with Squirrel.

Would Recommend
3/5
Price
4/5
Customer Service
3/5
Investing Process
4/5
Would Invest Again
4/5

A
Alexander F.
03/26/2017 , Auckland

The portal is a little difficult to navigate. I like the loan shield but I hope I don't need it. My preference would be to invest in smaller amounts across multiple loans.

Would Recommend
3/5
Price
3/5
Would Invest Again
4/5
Investing Process
2/5

R
Roderick B.
02/28/2017 , Waipapa


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!

Would Recommend
4/5
Price
4/5
Would Invest Again
5/5
Investing Process
4/5

G
GD
02/18/2017 , Auckland

Simple, transparent service with real time investments.

Would Recommend
5/5
Price
4/5
Customer Service
5/5
Would Invest Again
5/5
Investing Process
4/5

D
David
02/01/2017 , Napier

With the banks paying so little I was looking for something with more reward.
I know the banks are charging good rates for personal loans. Yet it didn't seem that that was being passed onto the customers with money in the bank.

I wanted to get a better return for my investment and yet at the same time help others by offering lower interest rates than a bank would. To me a borrower should have a realistic chance of being able to pay a loan back without being crippled by high interest rates.

I had looked at other P2P Providers, but there interest rates seem to be too high for borrowers and reviews indicated that they weren't necessarily operating fairly.

No such issues with Squirrel Money. A east to use site and totally transparent.

Thanks Squirrel Money!

Would Recommend
5/5
Price
5/5
Would Invest Again
5/5
Investing Process
5/5

E
Elizabeth P.
01/13/2017 , Auckland

I have been with Squirrel lending for the last 2 months and am feeling pretty exited about. Prompt payment so far.

Would Recommend
5/5
Price
4/5
Customer Service
5/5
Would Invest Again
5/5
Investing Process
5/5

R
Richard W.
11/16/2016 , Ngahinapouri

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

Would Recommend
4/5
Price
4/5
Customer Service
3/5
Would Invest Again
4/5
Investing Process
2/5

R
Robin S.
11/16/2016 , Kawau Island

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

Would Recommend
4/5
Price
5/5
Would Invest Again
4/5
Investing Process
4/5

C
Cornel R.
11/01/2016 , Auckland

I can certainly say that I trust Squirrel Money more than any other NZ peer-to-peer lending platform.
Yes, the interest rates are a bit lower compared to the other P2P lenders in NZ but my hard-earned money is a lot safer.
For me is all about trust and I appreciate the transparency when it comes to information disclosure in real-time. I like the "Looking after your money" page on their website.

Would Recommend
5/5
Price
5/5
Customer Service
5/5
Would Invest Again
5/5
Investing Process
5/5

M
Malcolm W.
10/20/2016 , Napier

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

Would Recommend
5/5
Price
4/5
Customer Service
5/5
Investing Process
4/5
Would Invest Again
5/5

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