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.
The app does not work
Dissappointing.
Seemed so promising, however the coding of the app itself is so bad it is unusuable. I could not even register. There is this whole spiel about 'minimum viable product' these days, but lets not forget the viable part.
May 9, 2020
Unprompted review
Reply from OpenMoney
Hi James,
We’re sorry to hear you didn’t enjoy the experience of using our app.
Our developers are working hard everyday to make the app more user friendly and fix the issues users are having with the app. We'd love to hear more from you about your experience with the app so we can get a better understanding of what went wrong.
To get in contact with us, you can either contact our support team via webchat by visiting our website – https://www.open-money.co.uk/contact-us or by emailing hello@open-money.co.uk.
Thanks,
The OpenMoney Team
OpenMoney Review
Easy to use set up and liked that it gave me the option of what portfolio I would like to choose on the basis of my circumstances and risk I would be willing to take. Have also found the app very useful which offers you tips on how to manage your money as you can link your bank account to it.
May 8, 2020
Unprompted review
Reply from OpenMoney
Hi Aidan,
Thanks for the positive feedback!
We’re glad that you’ve found our services easy to use and helpful! We hope that you carry on enjoying our services in the future.
Thanks,
The OpenMoney Team
Thorough but easy to follow investment
May 7, 2020
Unprompted review
Reply from OpenMoney
Hi Simon,
Thanks for your positive feedback!
We’re really happy that you found the process easy and we hope we can carry on with the same level of service for you in the future.
Thanks,
The OpenMoney Team
Easy experience
Easy to setup and plenty if detail on investment, terms and conditions.easy to use app/site
May 6, 2020
Unprompted review
Reply from OpenMoney
Hi there,
Thanks for leaving us this great review!
We’re extremely glad that you’ve found the process to be very simple and easy to set up. We hope you carry on enjoying the services we provide here at OpenMoney.
Thanks,
The OpenMoney Team
Excellent so easy to use
May 5, 2020
Unprompted review
Reply from OpenMoney
Hi Adrian,
Thanks for your positive review
Here at OpenMoney we try our best to keep our service simple and effective, so we're glad that you agree!
Thanks,
The OpenMoney Team
Buggy app cant be trusted with personal banking data.
The app asked me to connect my bank accounts. All seemed to onnect AOK but then when it asked me to identify my regular spending (bills) the app kept crashing. It said, "please contact support".
I had to log into my online banking and look for connected apps (not easy) and it said I had a live connection to something called Money Hub.
Buggy app. Very disconcerting given that it had access to all my personal banking data. WOULD NOT RECOMMEND.
May 5, 2020
Unprompted review
Reply from OpenMoney
Hi Griff,
Thanks for leaving us an honest review. We're sorry to hear you had issues with the app. It would be great to hear in more detail what your issue was. If you would like to share that information, please contact us on hello@open-money.co.uk and we'll do what we can to hlep resolve your issue.
Our app is powered by Moneyhub, who provide us with our open banking software and license. Open banking is a safe and secure way for you to share your data with financial institutions. You can find out more about open banking here - https://www.openbanking.org.uk/
Thanks,
The OpenMoney Team
Great service and support
Great online service and really helpful support staff.
May 5, 2020
Unprompted review
Reply from OpenMoney
Hi Charlotte,
Thanks for leaving this positive review!
We’re glad that you’ve enjoyed the service here at OpenMoney. Our friendly support staff are always happy to help you along your financial journey.
Thanks,
The OpenMoney Team
Simply brilliant well done guys
May 2, 2020
Unprompted review
Reply from OpenMoney
Hi Del,
Thanks for the feedback!
We’re glad that you enjoyed your experience with us at OpenMoney and we look forward to hearing from you again in the future.
Thanks,
The OpenMoney Team
Easy to use online advice
April 29, 2020
Unprompted review
Reply from OpenMoney
Hi there,
Thanks for the positive feedback!
We’re glad that you've enjoyed your experience here with us at OpenMoney and we hope that you carry on using our services in the future.
Thanks,
The OpenMoney Team
So helpful, excellent service, clear and transparent advice
The web chat service is excellent - I have spoken to several different members of the team over several weeks whilst I take the time to decide what to do. Trying to understand the rules, regulations, risks and benefits to different financial options can be extremely time consuming and often difficult to get a straight answer - but using the web chat service, I got clear information in a way that I could understand which allowed me to spend time thinking about my best options with all the necessary info. I could ask the "stupid questions" I needed to, so that I felt reassured that I was on the right track and hadn't misunderstood something. I also had a phone appointment with financial advisor Will to talk through some more questions, and to discuss my plans again - really useful especially during this time of economic uncertainty.
Would highly recommend using the chat service for any questions you might have, and make use of the financial advice phone call if it's relevant to you.
April 28, 2020
Unprompted review
Reply from OpenMoney
Hi Jessica,
Thank you for the feedback!
It’s always great to hear such positive reviews from our customers! We’ll be definitely sharing this to our support team. We are pleased to hear that you are enjoying the service we provide here at OpenMoney.
Thanks,
The OpenMoney Team
Quick set up
Quick set up. Very easy to use, can’t speak for the results yet but at this early stage I have been impressed.
April 23, 2020
Unprompted review
Reply from OpenMoney
Hi T,
Thanks for leaving us a great review!
We’re extremely happy that you found the process to be very simple and easy. We look forward to providing you with a great service in the future, and we wish you all the best.
Thanks,
The OpenMoney Team
Absolutely awful and unclear service
Absolutely awful and unclear service.
I thought I had researched well enough but clearly not. Setting up the initial payment was clunky and awkward, I had to do a bank transfer to send my initial "lump sum" (£1000) and I chose to set up a Direct Debit for £25 per month.
After checking my account today I could see that there was another £1000 in the account. After contacting Open Money via the webchat on my browser, the assistant told me that was my Direct Debit. I informed them that I only set up a DD for £25, they told me the initial lump sum bank transfer was a DD as well and I should have cancelled it. Then they asked me if I wanted that payment back! I said yes, but will that affect my ISA? (after further research I don't think it would have but I asked because I didn't know). They then told me that I can just call up HMRC and explain and everything should be fine... They also told me to check my manage payments tab of my account and I would see it there as a DD and guess what? It wasn't there. I had to prove this by sending a screenshot of my browser.
Then they just said, it should be there but that must be a problem with the system. very little else was said. I said I would like to complain. They said someone will contact me later in the day and I just got an email adding nothing new and basically telling me it's my fault.
When the initial bank transfer was set up, I followed the directions of the person I was on a webchat with at that point, they NEVER informed me that I was setting up a direct debit or that I would then have to go and cancel anything and I only set it up as a bank transfer from my end.
April 22, 2020
Unprompted review
Reply from OpenMoney
Hi Lewis,
Thank you for leaving us an honest review! We apologise sincerely for any inconvenience caused throughout setting up an account and payments with OpenMoney. The reason we use direct debits for our payments is to keep our overheads low, this allows us to provide our low management fees of 0.5%. If you have any feedback about the process, we would love to hear it so we can improve our experience for future customers. You can send any feedback to hello@open-money.co.uk.
I also believe you are in contact with our support team about resolving your issues. I hope we are able to come to a resolution that fits all as we value you as a customer.
Stay safe,
The OpenMoney team
Very easy to start up for an absolute…
Very easy to start up for an absolute beginner like me. Good advice given and easy to follow. Very pleased with the service
April 20, 2020
Unprompted review
Reply from OpenMoney
Hi Paula,
Thanks for leaving a sincere review! We’re glad to hear that you have enjoyed the service that OpenMoney has provided so far. We hope that in the future, you carry on using our services to help you along your financial journey.
Thanks,
The OpenMoney Team
Initial problem easily resolved
Although I wasn't able to set up exactly what I wanted on line, a single phone call remedied everything. I was also offered a detailed advice service at no cost, which was welcome.
April 18, 2020
Unprompted review
Reply from OpenMoney
Hi Ruth,
Thank you for leaving a fantastic review of our service! We’re glad to hear that we could help you set up exactly what you wanted. We hope you all the best and that you carry on enjoying our service in the future.
Thanks,
The OpenMoney Team
Disappointing.
Filled in all the information asked for. Made a small mistake with amount to be saved. Told I would have to speak to an advisor. No option to re-do input figures and re-try. Very frustrating. Money now invested elsewhere.
April 17, 2020
Unprompted review
Reply from OpenMoney
Hi Chris,
Thank you for leaving an honest review and we're sorry to hear you were frustrated with our online process. We’re aware of the issue that you cannot change your information once you have received your final recommendation from us, this is because the advice we give you needs to be based on the information provided.
As a result, we recommended you to speak to an adviser so that they could discuss more about this with you and potentially change your recommendation if it happens to be in your best interests.
To schedule an appointment, you would need to go either to your OpenMoney portal and select book appointment or contact the support team. You can contact our friendly support team via live webchat by visiting the website or by emailing hello@open-money.co.uk
Thanks,
The OpenMoney Team
Requires Access to Bank Account
I didn’t like that you have to allow OpenMoney to access your bank account. How do I know it’s safe?
April 17, 2020
Unprompted review
Reply from OpenMoney
Hi there!
The reason we ask you to connect your bank account is so we can get a complete picture of your finances and give you tips and advice on how to improve your financial situation.
To connect your account, we use a technology called Open Banking which is a safe and secure way for your bank to transfer your information to us. Our application is read only, which means we can’t edit or change anything in your account.
If you want to read more about Open Banking or how we keep your data secure you can read the following blogs - https://www.open-money.co.uk/blog/data-security and https://www.open-money.co.uk/blog/what-is-open-banking
Please feel free to contact our friendly support team if you have any questions. You can contact them via live webchat by visiting the website or by emailing hello@open-money.co.uk
Thanks,
The OpenMoney Team
Simple process, easy to understand
Went through the advice questions and got told investing was right for me - process was simple and the recommendation was explained well. Money hasn’t been invested yet so can’t speak for that service just yet.
April 16, 2020
Unprompted review
Reply from OpenMoney
Hi Aaron,
Thank you for taking the time to leave us a positive review! We’re glad that you’ve found the process to be simple and we’re really happy that you understood how investing with OpenMoney works. We hope we can continue providing you with an excellent service.
Thanks,
The OpenMoney Team
I'm a complete newbie to investing and…
I'm a complete newbie to investing and found the process really simple - the staff were very responsive to questions and I understand how the portfolio works. No problems so far :)
April 16, 2020
Unprompted review
Reply from OpenMoney
Hi Geo,
Thanks for leaving a review on our service! We’re really pleased that you enjoyed and understood our investment process and we hope you carry on enjoying our services in the future.
Please feel free to contact our friendly support team if you have any questions or issues. You can contact them via live webchat by visiting the website or by emailing hello@open-money.co.uk
Thanks,
The OpenMoney Team
I could not do anything in the app.
I could not do anything in the app.
Every time that I tried to singup an unexpected error did not allow me to do it.
April 14, 2020
Unprompted review
Reply from OpenMoney
Hi Alejandro,
We’re really sorry that you’ve been having difficulties accessing our app. We have shared your message with our support and development team and we will look into this issue further.
If you would like help with the app, our support team are on hand Monday - Friday, 9am - 8pm to help with any issues you may be having. You can contact them via webchat on our website or via email at hello@open-money.co.uk.
Once again, we’re sorry any inconvenience caused.
Thanks,
The OpenMoney Team
Will Lenehan was helpful
Will Lenehan was helpful, knowledgable and answered my questions well. The ptocess has been straightforward, thank you
April 9, 2020
Unprompted review
Reply from OpenMoney
Hi Louise,
Thanks for leaving us a positive review, we have shared your message with Will and I'm sure he'll be happy to hear the great feedback!
We hope we can continue to provide you with a great service.
Thanks,
The OpenMoney Team
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