I have been with OpenMoney for a few years with little issues, until I decided initiate a transfer out of my OpenMoney ISA into another company (standard process normally taking 30 days). 3 mont... See more
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See what reviewers are saying
We were due to remortgage and contacted OpenMoney to help. We were put in touch with Karina who was just brilliant, she was always available and very helpful in her explanations. It was incredibly str... See more
I needed a lot of guidance over a period of a few months as I was fairly overwhelmed and didn't know where to start. Ryan Browns helped me along all the way. He was exceptional at explaining everythin... See more
So far so good. I had a slight problem understanding how to set up the account so I took advantage of the call back option. They explained the mechanics and Also explained pension taxation to me in mo... See more
Company replied
Company details
About OpenMoney
Information provided by various external sources
OpenMoney are here to make financial advice accessible and affordable to everyone.
They offer personalised financial advice through their online platform and offer tools in their app to help people follow that advice and get out of their financial cycle.
Within the app, users can connect all their accounts to the OpenMoney app to see all their money in one place. Once connected, OpenMoney will then start advising you on how to manage your money properly. Sounds great right!
They also offer a personalised recommendation on whether you should manage, save or invest your money, and help you every step of the way.
Based on your goals and financial situation OpenMoney lets you invest from as little as £1 - cheaper than your morning coffee! As well as creating your own diversified portfolio in which they invest in assets from all over the world including shares and bonds in companies and governments worldwide.
Finally, Financial Advice for all.
Contact info
1 St Peter's Square, M2 3DE, Manchester, United Kingdom
- 0161 204 3200
- hello@openmoney.co.uk
- open-money.co.uk
3.7
Average
183 reviews
No recent history of asking for reviews
This company hasn't invited customers recently, so reviews may not be representative
How this company uses Trustpilot
See how their reviews and ratings are sourced, scored, and moderated.
Why your website is not properly…
Why your website is not properly working .I like your concept but please fix this .This would be great. After that I wll surely edit my review for this idea.
June 26, 2020
Unprompted review
Reply from OpenMoney
Hi there!
We apologise if you had trouble using our website and any incovenvience this may have caused. We'd love to get some feedback on what the issues were so we can fix it for you and any future customers.
If you'd like to get back to us, you can contact our support team via the live chat on the website or via email at hello@open-money.co.uk.
Thanks,
The OpenMoney team
Easy to set up and understand
June 17, 2020
Unprompted review
Reply from OpenMoney
Hi Marian,
Thanks for leaving a positive review!
We really appreciate your feedback and we hope that we can carry on providing you with a service which is easy to understand and set up.
Thanks,
The OpenMoney Team
The most crappiest website I have ever…
The most crappiest website I have ever had to deal with. AFter wasting two whole days I went with the another company, and was set up in less than 5 minutes.
Open Money was highly recommended on MOney Saving Expert ( Martin Lewis ) God Bless Martin, not his teams fault these guys can't get their software to work.
If you've been lucky, good for you. I wouldn't recommend them to anyone. Waste of time.
June 14, 2020
Unprompted review
Reply from OpenMoney
Hi Sanjay,
Thanks for your honest feedback!
We apologise that you had difficulty with our online journey and for any inconvenience this has caused. We'd love to learn more about what difficulties you had with the system so we can improve our user experience.
If you would to speak to our support team or if you would like to give any feedback for improvements, you can get in touch with them via live webchat or via email at hello@open-money.co.uk.
Thanks,
The OpenMoney Team
Be careful with your application. "I'll have to take your first answer"
I made a mistake with one of the figures on the initial registration. There was no way to change it. So I couldn't get any plan or recommendations from them.
June 10, 2020
Unprompted review
Reply from OpenMoney
Hi Gary,
Thanks for your constructive feedback!
Firstly, we apologise for the inconvenience we have caused. In order to restart your journey, you would need to contact the customer support team and ask if they could delete your account so that you’re able to start the advice process again.
To get in touch with our support team you can contact them via live webchat or via email at hello@open-money.co.uk.
Thanks,
The OpenMoney Team
Both app and website terrible to use
Both app and website terrible to use. Limited functionality, waste of time.
June 4, 2020
Unprompted review
Reply from OpenMoney
Hi Ben,
Thanks for leaving an honest review!
We’d love to hear any feedback on how we could improve both our app and website and any other functionality which you wish to see in the future. If you’d like to provide us with feedback, please send us an email at – hello@open-money.co.uk that’d be great!
Thanks,
The OpenMoney Team
Easy to set up and good information.
June 1, 2020
Unprompted review
Reply from OpenMoney
Hi Matthew,
Thanks for leaving us a review!
We’re really glad that you’ve found the whole process easy to set up and that you were able to find the information you were looking for. We hope you continue to enjoy our service and we’re always here for you if you ever need us.
Thanks,
The OpenMoney Team
Reply from OpenMoney
Hi Luke,
Thanks for leaving us a positive review!
We really appreciate your feedback and we’re glad to hear that you’re enjoying and understanding the service which we provide.
Thanks,
The OpenMoney Team
Persevere and you will find success
At first I had a few problems and even with help from the chat line I still did not manage to achieve what I was aiming for. The problem appears to be that the system is not geared for everyone's different financial situations and therefore isn't always successful (they are working on this I am told).
I did get a telephone appointment with Will and everything got sorted. There was no rush and he was knowledgeable and helpful, talked me through all the options which clarified everything.
If people can get past the fact computers are not always easy to manage I think they would find they can successfully get their application dealt with efficiently and clearly.
Will see how my investments do!!!!
May 29, 2020
Unprompted review
Reply from OpenMoney
Hi Sandra,
Thank you for leaving us a detailed and honest review!
We're happy to hear that our advisers and support staff were able to help you through the journey, nothing beats a human touch! We hope that we can continue providing you with an excellent service.
Thanks,
The OpenMoney Team
only just started
only just started, so no returns yet but seems OK, but app is rubbish. If only the app was the full blown MoneyHub that it's based upon, it would be great.
May 28, 2020
Unprompted review
Reply from OpenMoney
Hi there!
Thanks for leaving us a review.
We partnered with MoneyHub in April this year to provide the money management features in our app, for free! Our development team will be working on adding new features and improving the app experience in the coming months, so we hope we can make the app as useful as possible for you and all of our other customers.
If there's any features you'd like to see in the app, we'd love to hear feedback from our customers. You can contact us with your suggestions at hello@open-money.co.uk.
Thanks,
The OpenMoney team
Transfer-in from another ISA
I was considering transferring money from a Cash ISA to a Stocks and Shares ISA. I visited OpenMoney and completed their financial health check. The questions that they ask to assess which product is right for you is simple and the recommendations made are straightforward, which really attracted me to OpenMoney. I accepted the recommendations, and provided the details of my Cash ISA and how much I wanted to transfer - job done, so I thought. A few days later I noticed that the money appeared in my OpenMoney account, but hadn't left my Cash ISA. That's odd, I thought. A few days later, the money vanished from my OpenMoney account. A phone call to OpenMoney revealed that the transfer had been cancelled because for transfers-in from other ISA products, you should not complete the financial health check, but in fact opt for their 'advised review service'. Looking back at their website, this is stated in small print at the start of the financial health check but isn't very clear. There were no further warnings that I couldn't transfer-in from another ISA as I went through the financial health check and requested the transfer, and OpenMoney didn't contact me after I had requested the transfer to advise me that I needed to take a different route. So in the end I had to re-apply for my transfer via their 'advised review service' (which seemed to me to ask mostly the same questions as the financial health check anyway), meaning the whole process took me many weeks. It would be much better if OpenMoney could integrate these two routes, so that you are asked if you have any other ISA products as part of the financial health check and then directed down the right route. I hope OpenMoney take this feedback on board because otherwise their website and service is very simple and straight forward, but this one issue made the process rather long and frustrating for me. Now awaiting my transfer for the second time - fingers crossed!
May 26, 2020
Unprompted review
Reply from OpenMoney
Hey there!
We are really sorry about the confusion caused by our online journey. Rest assured that we have raised this with our customer experience team and we're looking into how we can make our journey clearer to customers like yourself.
We hope that your transfer goes through smoothly and the rest of your experience with OpenMoney is enjoyable :-)
Thanks,
The OpenMoney team
Reply from OpenMoney
Hi Jack,
Thanks for leaving us a positive review! We really appreciate your feedback and we're happy to hear you're enjoying our service.
We hope you carry on enjoying our services in the future!
Thanks,
The OpenMoney Team
Just got that app but it seemed clear…
Just got that app but it seemed clear and easy to use. They provided some useful advice.
May 23, 2020
Unprompted review
Reply from OpenMoney
Hi James,
Thanks for leaving a review! We're glad to hear you're enjoying our app and the advice we've given so far.
Thanks,
The OpenMoney Team
At the moments it’s too early to rate…
At the moments it’s too early to rate this app\ platform completely.
But it does take too long for money to be transferred from my bank account to the investment ISA and further to actually invest.
Still waiting for this to happen.
May 22, 2020
Unprompted review
Reply from OpenMoney
Hi Eccles,
We're really sorry that you're having trouble with your payment being taken and invested in a reasonable timeframe.
The reason our process may seem a little slow is because we take money via direct debit. This allows us to keep our costs low and pass those savings directly onto our customers via our low management fees. Once we collect the money via direct debit, it takes a further 3 - 5 working days for your money to be invested in the market. We're aware that this process can be a little slow, especially when you're eager to start investing right away.
If you want an update on when you can expect the money to invested, please contact our support team via live webchat on the website or via email on hello@open-money.co.uk.
Thanks,
The OpenMoney team
Very poor application
Very poor application, gave me zero confidence in their IT capabilities. Left feeling that I could not trust this outfit with my data let alone my money, so opted for Vanguard instead, which has been a much more positive experience.
UPDATE: In response to your reply.... Come on, I think you you know that you've got serious issues with your app. I've just checked the Google App Store and your app currently has 1.9 stars, lots of the reviews detail problems with registration and general glitches.
May 22, 2020
Unprompted review
Reply from OpenMoney
Hi there,
We're really sorry to hear that you found our app difficult to use. We take all of our customer feedback very seriously and we'd love to hear more from you about why you thought it was poor. You can contact us at hello@open-money.co.uk to give your feedback.
Thanks,
The OpenMoney team
Waste of time
Waste of time. Downloaded the app in order to start investing in stocks and shares ISA but gave up because I couldn't find out how. I think it was insisting that I had enough in savings before I could start investing.
Edit - having read the reply, I still stand by my review. This should be made clear to people at the outset (or any other point really), and there should be an option to bypass their own decision which is based on a very simple formula (earnings and savings). If I know my disposable income will increase massively, why aren't I allowed to decide to invest jist 5% of this each month regardless of savings?
Maybe the app is good for people who who are financially illiterate, but not for anyone else that wants to make an informed decision.
May 21, 2020
Unprompted review
Reply from OpenMoney
Hi Jason,
Thanks for leaving us a review! Here at OpenMoney we provide financial advice on our investment products, meaning we assess your current situation to see if you're in a suitable financial position to start investing. To do this we ask you a few simple questions around income, outgoings and savings. One thing that we ask for is that you have enough savings to cover 3 months of your essential outgoings if something unexpected was to happen. If you don't, we recommend that you use our app to increase your savings to build up a cash buffer.
The reason we ask if you have this amount of savings readily available is that we always recommend that your investments are left for a period of at least 5 years. If something unexpected was to happen before then and you needed access to your money, it may have lost value.
We're sorry that you had trouble with our process, but we hope you now understand why it is we gave you the recommendation to save. If you would like further clarification from our team, please contact our support team via live webchat or via email at hello@open-money.co.uk.
Thanks,
The OpenMoney team.
I found the website difficult to…
I found the website difficult to navigate. There is not enough information on the explaining what you are doing. I thought I was going through a Financial Health Check and I was then asked to submit my Pensions/ISA providers. This was not a problem but there is very little to explain if this was a free service or how information supplied at this stage would be used in later assessments. When I did eventually manage to get onto the Financial Health check, the site repeatedly froze at the same page (3 or 4). I was patient and kept going back through it but it just kept on freezing so i have given up.
May 20, 2020
Unprompted review
I was nervous about opening an…
I was nervous about opening an accountant, however the staff were very supportive and helpful.
May 20, 2020
Unprompted review
Reply from OpenMoney
Hi Zoe,
Thanks for leaving us a 5 star review!
The staff here at OpenMoney are always happy to help and guide you through your financial journey and we're here any time you need us in the future.
Thanks,
The OpenMoney Team
British-based company
Website easy to navigate. Telephone appointment was on time and the advisor was very helpful. So far... so good.
May 18, 2020
Unprompted review
Reply from OpenMoney
Hi Simon,
Thanks for leaving a great review of our service!
We’re glad that you’ve received the help you wanted from one of our friendly advisers and we’re pleased to know that you were able to navigate yourself around the website and book an appointment for yourself.
We hope you carry on enjoying OpenMoney services in the future.
Thanks,
The OpenMoney Team
Very easy to set up and the onboarding…
Very easy to set up and the onboarding process has been very smooth - all good so far!
May 16, 2020
Unprompted review
Reply from OpenMoney
Hi Matthew,
Thanks for your positive feedback!
We’re happy to hear that the process has been very simple and easy for you. We hope that you found exactly what you were looking for and that you enjoyed your experience with us here at OpenMoney.
Thanks,
The OpenMoney Team
Great start
Very informative call with Will which has helped me progress my look into investing. So far, excellent experience.
May 13, 2020
Unprompted review
Reply from OpenMoney
Hi Gary,
Thanks for your positive feedback!
The support team here at OpenMoney are always happy to help and guide you through your financial journey. We’re glad that you’ve enjoyed your experience with us so far and we hope you carry on using our services in the future. Also, we’ll pass your kind words on to Will!
Thanks,
The OpenMoney Team
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