Moneyfarm Customer Reviews & Expert Rating

Managed to mess up a transfer of money from one account to another

Cost me £15k

Acknowledged the mistake

Won’t compensate me

Now I have to fund their mistake from my own pocket in a couple of months

Unbelievable that they can get away with this

It gets better…

So, after they couldn’t transfer money of mine into the right account, which cost me £15k… they didn’t accept responsibility at first, then accepted it was their error. Offered a few hundred quid as compensation, which I obviously declined and then I’ve had 15 back and forth emails with the team and no actual explanation of why it happened and why they won’t put it right for me.

I’m a bit suspicious as to why they can’t work out what the right thing to do is here. So I made a Subject Access Request so that I could understand the chain of events.

Obviously they’ve subsequently managed to not meet the deadline for my Subject Access Request because it’s “complicated”.

This business is incompetent. They give me absolutely no confidence that this is something they’ll make right.

Have come back with another assessment of my case recently.

Case background – they were unable to simply transfer my funds to a pension account. They had a week to move the funds and I called every day to make sure it was fine. They reassured me it was ok and would happen. It didn’t happen…

Has subsequently cost me £15k of tax relief. They have admitted it was their fault, but their “final” compensation offer has come in at a meagre £1,500.

Having to go down the legal route as nobody there wants to accept responsibility for their mistake.

Absolute disgrace of an operation. Do not trust them with your money.

Still refusing to pay me the money that they cost me. I lost £15k in tax relief purely because they couldn’t work out how to transfer money from one account to another.

I called several times to make sure they could do it. I was reassured every time. Somehow they messed it up and then told me it was my fault.

Appalling customer service. Do not seem to care that they are incompetent.

I have the call recordings if anyone is interested lol

Messed up the transfer of my pension funds. Then blamed me for not simply being able to allocate it into my pension account.

Offered £500 as compensation when their incompetence cost me £15k in tax relief. Their error has cost me £15k and they won’t acknowledge it.

I’ve lost out massively due to the company and the customer service is dreadful.

Do not trust this company.

Worst company I’ve ever dealt with.

Messed up the transfer of my funds. Subsequently blamed me for not simply being able to allocate it into my pension account.

Took weeks to “review” the situation. Offered £500 as compensation when their incompetence cost me £15k in tax relief. Tried to say I should transfer more capital in the next tax year to achieve a “similar position” when that is not the case. Their error has cost me £15k and they won’t acknowledge it.

I’ve lost out massively due to the company and the customer service I’ve received since is one of the worst I’ve ever experienced.

Do not trust this company. Do not trust their people. They will not do the right thing when things go wrong. Very disappointed.

After receiving my £10,000 into a Stocks and Shares ISA, they then proceeded to close the account and refuse to return the money. The financial Ombudsman is now having to get involved. Liars, cheats, frauds. Despicable company that must be avoided.

Dreadful business.

Messed up transferring my money into a pension account and has since offered me a pathetic £200 in compensation for the several thousands (>£10k) that it has cost me.

Technology clearly doesn’t work. Despite speaking to their team about 5/6 times they still were unable to allocate my funds to my pension on time.

Have since blamed the error on not being able to “automatically allocate” money into the fund despite me speaking to them several times before the end of the tax year and knowing exactly what I wanted to achieve.

Hiding behind pathetic excuses and not interested in making this right for a customer. It would be refreshing if they would hold up their hands when a clear error has been made, but instead they would rather push the financial loss onto me.

Dreadful business to deal with.

I have just transferred a Cash ISA over to Moneyfarm from Zopa, due to better interest rates. The transfer went smoothly, however the value of the ISA has decreased, even though the interest rate is currently quoted as 4.33%. I’m no financial wizard, but by my reckoning the value should be going up, rather than down. The ‘Chat to Us’ section was of no help and my email to customer services went unanswered. Very disappointed! I will be moving my Cash ISA somewhere else before it disappears completely. Zopa we’re far better by comparison and their website was, in my opinion, more user friendly.

Consistently good performance

Pretty much “outstanding” , easy to contact, smart folk at the other end of the phone along with great financial returns – simple as.

Moneyfarm offers an excellent straightforward platform for investing in a stocks and shares ISA, with ethical options available. I particularly value the clear communication and helpful customer service, with regular updates provided both regarding my specific product and also news and education around broader market conditions.

Sipp

KEEPS YOU UP TO DATE AT ALL TIMES

Drawn into Moneyfarm with a misleading advert, I’m very disappointed. Call centre staff hiding behind terms & conditions to add fees when trying to withdraw my cash.

Returns from Moneyfarm (even on 6/7 risk) have been lower than Wealthify and way lower than Santander (all invested same amount at the same time).

Definitely avoid this one, invest with a proper bank or take independent financial advice, I feel like I’m been scammed by Moneyfarm.

I have a stocks and shares ISA in a mid- risk portfolio. I consider it is well curated. Periodically it is tweaked and improved. I also appreciate that I can call and speak to a knowledgeable staff member who will advise me on risk level and contents of my portfolio. Money farm has an excellent App that is secure, several billion pounds of investment behind it and I feel well looked after.

This is a ‘Robo’ advisor, the middle man between either using the expensive services of a financial adviser or doing it all yourself. Not the cheapest investment option. Ideal for the beginner investor, their is a friendly knowledgeable team on hand you can contact via email or phone if you need a helping hand. Their online platform is very attractive, easy to understand and user friendly. Steady ongoing performance, with the ability to switch up or down the risk scale should you so wish. A simple annual questionnaire determines your appetite for risk. Regular news articles and updates on how your chosen fund is performing.

excellent service

I m very pleased wit their performance so far.

For me, they are an exceptional business and long may that continue. Enjoyed being part of the journey since 2017 and would highly recommend. Feel I am in very good hands when it comes to wealth management.Thank you!