Squirrel Money Investor Reviews

About this Company

Squirrel has been in the business of helping Kiwi borrow money for homes since 2008, arranging over $10 billion of mortgages.

Our mortgage advice is always impartial and honest, because the only goal is to leave you better off. And since 2015, Kiwi investors have trusted us with over $300 million of their savings too.

Our business is all about helping Kiwi make better financial decisions. 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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144 Verified Customer Reviews

144 Customer Ratings and Reviews

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

4.1

Overall Star
Rating

5 Shopper Approved - Review Star
64
(44.4%)
4 Shopper Approved - Review Star
45
(31.3%)
3 Shopper Approved - Review Star
22
(15.3%)
2 Shopper Approved - Review Star
7
(4.9%)
1 Shopper Approved - Review Star
6
(4.2%)

Customer Service
4.2
5 Shopper Approved - Review Star
37
4 Shopper Approved - Review Star
10
3 Shopper Approved - Review Star
6
2 Shopper Approved - Review Star
3
1 Shopper Approved - Review Star
5
Would Recommend
4.2
5 Shopper Approved - Review Star
76
4 Shopper Approved - Review Star
34
3 Shopper Approved - Review Star
21
2 Shopper Approved - Review Star
6
1 Shopper Approved - Review Star
7
SHOW DETAILS

5-star reviews
64

5-star reviews

6 years collecting reviews
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M
Michael S.
05/13/2017 , Auckland

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

Would Recommend
4/5
Would Invest Again
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
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
Customer Service
5/5
Would Invest Again
5/5

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
Customer Service
3/5
Would Invest Again
4/5

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
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
Would Invest Again
4/5

A
Anonymous Customer
01/24/2023

Dont make anything worse, keep improving for BOTH your investor AND borrower customer base and Squirrel Money will continue to be amazing

Would Recommend
5/5
Would Invest Again
5/5

M
Marty
10/22/2022

No communication. After the onboarding process nothing happens and communication is lacking.

Unclear process. No idea what the added value of Squirrel is. Nothing happens, no news or updates. Nothing.

Would Recommend
1/5
Customer Service
2/5
Would Invest Again
2/5

A
Andy
10/16/2022 , Auckland

Squirrel is very easy to use. I was new to investing and i found the app works great, and the service in particular is easy to understand and follow. I also love how the team communicates about how things are going and let us know about any upcoming changes.

Would Recommend
3/5
Would Invest Again
5/5

C
Chris
09/29/2020 , Canterbury

Your website is very slow compared to other websites on the same internet connection. Sounds like you have issues with your IT service team as a customer service person told me they were waiting on IT service desk to help fix an issue. The contact time was very slow compared to your competitors.

Would Recommend
2/5
Customer Service
1/5
Would Invest Again
1/5

C
Charlotte D.
08/07/2019 , Canterbury

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

Would Recommend
5/5
Customer Service
5/5
Would Invest Again
5/5

K
Kenneth M.
06/18/2019 , Auckland

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.

Would Recommend
2/5
Would Invest Again
2/5

T
Tane C.
10/02/2018 , Christchurch

Annoying to have to accept loans through email. Flicking back and forth from the app. Should all be on the app.

Would Recommend
2/5
Customer Service
3/5
Would Invest Again
2/5

N
No T.
09/04/2023 , Nelson

Squirrel Money prompts you to fill out a LOT of personal information, before speaking to an adviser. Once you have invested a lot of time and personal information, they refuse to work with you if you have also contacted another broker, forcing you to exclusively work with them. It's plain unethical.

Would Recommend
1/5
Would Invest Again
1/5

A
Alan I.
04/12/2023 , Manawatu

I was going to invest - until I found I had to scan a QR code. Since I don't have a smartphone, and have no intention of getting one, I couldn't do that. I therefore decided to close my account. It's a pity that our "inclusive" society increasingly doesn't cater for those over 80.

Would Recommend
1/5
Would Invest Again
1/5

A
Anonymous Customer
03/02/2023

misleading promo

Would Recommend
1/5
Customer Service
1/5
Would Invest Again
1/5

A
Antony
05/05/2021 , Auckland

Tried to open a/c - provided all the correct documents. When I tried to complete Step One I couldnt. No explanation what was wrong. Tried Helpdesk - no reply, no help. Very poor service. I cancelled my account, but still can login to my account even after I was sent a confirmation the account was closed. Am deeply concerned they have all my personal details. No response from Squirrel about my concerns and am contacting the FMA about the way they seem to be data mining.

Would Recommend
1/5
Customer Service
1/5
Would Invest Again
1/5

C
Chris
11/22/2020 , Canterbury

Requiring direct debit authority to my bank account is a non-starter.

Would Recommend
1/5
Would Invest Again
1/5

D
Dean
05/14/2019 , Tauranga

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.

Would Recommend
1/5
Customer Service
1/5
Would Invest Again
1/5

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