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
146 Verified Customer Reviews
146 Customer Ratings and Reviews
Shopper Approved collects trusted reviews from customers who have made a verified purchase.
4.1
Overall Star
Rating
5-star reviews
08/02/2017 , Auckland
1st time user/investor of the platform and I was a bit hesitant especially when it came to transferring money into the trust account. Hope a basic tutorial can be included to help with navigating basic processes and terminology for new members. If there is, I missed it then! I got it eventually and find it easy to use. On another note, if it were a marketplace, why is there a cap on interest rates? Are investors to assume that all borrowers are of the same credit with only the length of borrowing different? The 3 and 5 year rates are almost similar but investors return seems limited when taking on a higher risk. Great start anyway and looking forward to better features and well performing investments. Perhaps include borrowings for 6months-1year? Thanks!
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.
05/13/2017 , Auckland
The user interface needs work,
but the underlying idea is great.
05/11/2017 , Lower Hutt
I find the website is counter-intuitive; it's hard to figure out how to actually invest your money.
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
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.
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.
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.
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
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.
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.
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.
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
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.
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.
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.
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.
03/02/2023
misleading promo
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.
11/22/2020 , Canterbury
Requiring direct debit authority to my bank account is a non-starter.
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