Read Moneyfarm 44 Reviews Summary 2025

marion strachan rated Moneyfarm 2 stars

3 months ago

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So far really disappointed in the way my CASH ISA is being handled and decidedly unclear or misselling of interest rate information.. I know Cash ISAs are a new product for them. It started off well with a nice welcome call and some chap pointing out that the extra 0.64 percent introductory percentage would be added on at the end of the year .. this had not been clear on initial advertising. So underlying rate of 4.37 percent plus th 0.64 percent at the end made up the 5.01 percent rate as advertised on the tube and on money saving expert. Joined 20 th March. What I found bizarre that without warning or email that I could see the underlying rate just quietly went down to 4.35 and then now 4.33. Not drastic but why no warning. More alarmingly when I transferred my ISA from moneybox to moneyfarm earlier this week it promised 4.33 percent daily rate added daily ( as written on my account website as it still does) I quicky noticed it was not rising the correct amount and worked out is only 3.64 percent. I asked why on chat and got a load of information about how it fluctuates as they are not a proper bank. And that it doesn't add it at weekends but should be fine as only small variations. I do not call 0.69 percent small and it was a Friday. And if it says it will add 4.33 percent daily it should. ( Moneybox does this clearly and states the amount ) I have a call with them to clarify things next week but it looks like this will be a quick money transfer in and out for me. I knew before that it wasn't strictly a bank but feel uneasy and they have lost my trust. So now not sure if what is written on my account as regards interest rate is wishful thinking.

Ash “Ash gog” Gog rated Moneyfarm 1 stars

4 months ago

Hi, I have contacted them and initially were very delighted to speak and explain. I only invested a little amount and at that time I have been told I can withdraw money anyvtime as its my money. Few days later I decided not to invest further and wanted my money back. My designated advisor who initially spoke to me to invest and invest more and when I spoke to him that I want my money back he got really agitated and hung up the phone. I tried to call their customer service but answering machine and ending call. My money is now stuck and can't help myself to get it back. It's alarming for anyone to invest in such companies

James Kearslake rated Moneyfarm 1 stars

4 months ago

👎🏻👎🏻👎🏻👎🏻👎🏻 worst investment platform and company I've ever held money with since first investing 14 years ago. Here are some of my issues: • my application not being processed as I instructed it (apparently I never instructed it, even though I remember specifically inputting the details into their platform) • which also meant I didn't get my cashback offer (funny, isn't it, that my application via a cashback offer happened to just 'not be entered into the system') • ISA transfer delayed and nobody taking ownership to get it done • ISA transfer settling to the wrong portfolio, investing my funds in their managed portfolio • I never wanted their managed portfolio, but I couldn't open a self investing portfolio without opening their managed portfolio as default • when I 'added funds', it defaulted to sending it to their managed portfolio, again automatically investing my money in their robot funds - not what I wanted • raised concerns to customer services - nobody cares • made a complaint - I'll get a response 'within eight weeks' • meanwhile my funds remain invested in their managed portfolio, because nobody in their team understands when they make an error they need to back it out same day, and rectify the client's portfolio to how it should have been • and my last email reinforcing my concerns? nobody even responded. So, apparently deleting my email from the inbox is their strategy to deal with my dissatisfaction. I've worked for investment banks and wealth managers for 16 years of my life; I know what it means to look after someone else's money. Moneyfarm fundamentally fail on their obligations as a money manager. I look forward to the response from their complaints team, but based on my service to date I do not hold out hope for a quality resolution. Not once have I had to consider approaching the Ombudsman, but on this occasion I fear we will be heading down that route. I just don't see anything in their service that shows a culture of customer satisfaction and resolution. I wished I'd seen these reviews before transferring to Moneyfarm. I'd have never joined in the first place. 👎🏻👎🏻👎🏻👎🏻👎🏻