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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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
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Current review is thus
Current review is thus. Went through the process of entering details for looking into share accounts. Registered. They sent me a link. Didn’t receive it. Checked junk mail following day. Located email. Clicked link. Link had expired. Asked me to go through the whole process again. Not done that. So can’t comment on their financial prowess, services or website functionality just yet.
April 8, 2020
Unprompted review
Reply from OpenMoney
Hi there,
Thanks for leaving us your honest feedback!
We're sorry to hear that you were unable to complete your online advice journey with us. As part of our sign up process we have a secure, two-step authentication process which includes the authentication link we sent to you, this allows us to keep our system secure. Sometimes these emails can fall into junk as our company will not be whitelisted by your email provider. I have passed your feedback to our tech team and this is something we will look in to.
We'd love to hear more about your experience so we can improve our service in the future. If you'd like to give us more feedback, you can email hello@open-money.co.uk and one of the support tem will be in touch.
Thanks,
Tom
Reply from OpenMoney
Hi there, thanks for the positive review! We hope we can continue to provide a great service to you.
Thanks,
The OpenMoney Team
I struggled a bit with their web site
I struggled a bit with their web site, but live chat is available and they are very helpful. When you get to speak to an advisor they are very good.
April 4, 2020
Unprompted review
Reply from OpenMoney
Hi Kevin,
Thanks for your honest feedback. I will pass the positive feedback on to our advisers, I'm sure they'll love to hear it!
We're always trying to improve our website and online journey, so if there's any particular feedback you could give us, we'd really appreciate that. You can contact us via email on hello @open-money.co.uk.
Thanks,
The OpenMoney Team
Very easy to navigate.
April 4, 2020
Unprompted review
Reply from OpenMoney
Hi Stephen,
Thanks you very much for your positive feedback! We hope you continue to enjoy ther service OpenMoney provides for you.
Thanks,
The OpenMoney Team
Spam Emails
I decided not to put any money into OpenMoney evestor. Immediately after opening my account, I have received a heavy increase in spam emails. Somewhere that sells my email address to companies that send spams and junk emails, I don't trust with my money.
April 4, 2020
Unprompted review
Really helpful team through online chat…
Really helpful team through online chat and relatively easy to set up accounts. The only downside is that once you’ve completed the online financial survey and you are sent through your recommendation, you can’t seem to deviate from the recommendation online. Instead you have to speak to someone over the phone. There to protect people I guess but annoying if you already know what you want to do with your money!
April 3, 2020
Unprompted review
Reply from OpenMoney
Hi Sophie,
Thanks for leaving your review!
At OpenMoney, we provide an advised recommendation based on what we think is most suitable for you, using all the answers you have given to the advice questions. We provide a product recommendation, portfolio recommendation and validate to make sure than any desired contributions are affordable and within the specific product allowance(s) for the current tax year.
We don't allow customers to change their recommendation online because we would then be a non-advised service and wouldn't be providing financial advice! If a customer does want to discuss this recommendation - just as you did - they can book an appointment with an adviser who can then determine whether a change to the recommendation would be suitable and in their best interests.
We hope we can continue to provide you with a great service moving forwards!
Thanks,
The OpenMoney Team
Shocking customer service - can;t set up an account or talk to them
I spent over a week trying to set up my account without success. Online chat and email support was useless. OpenMoney wouldn’t speak to me on the phone. Appalling customer service, so I’m going with a competition instead.
March 13, 2020
Unprompted review
Reply from OpenMoney
Hi Deborah,
Thanks for leaving an honest review! We’re really sorry that you had trouble setting up your account and we can only apologise for the difficulties you have faced. We’ve passed this on to our tech team who are going to look into the problem more. Once again, we’re extremely sorry for any inconvenience caused.
Thanks,
The OpenMoney Team
Reply from OpenMoney
Hey Ryan,
Thanks for your honest and positive feedback! It’s always a great thing to hear when our customers are enjoying their experience with us at OpenMoney. We hope you enjoy using the OpenMoney service in the future too.
Thanks,
The OpenMoney Team
Assumptive judgement with no initial advice provided other than "speak to an adviser"
Answered the initial questions saying wanted to save for retirement, armed with a lump sum (with intention to invest in both a pension and in a separate SS ISA) and hoped to get an initial outcome of recommendations on how best to proceed. Instead get a judgement that "you are trying to put more into pension than you have earned and must speak to an advisor"? That is it.
Not impressed - this AI still has some way to go if the intention is to help pave the way for getting good advice out to those who are unsure !
February 19, 2020
Unprompted review
Reply from OpenMoney
Hi Gillbe,
We’re sorry for any inconvenience that may have been caused by our system! The reason why you received that response was because we noticed that you were trying to contribute money that would take you over your pension allowance, which is something we wanted to clarify further.
If you do wish to speak to an adviser, you can still do so by logging into your portal and selecting book appointment. Advisor calls are free of charge. Alternatively, you can speak to a member of the support team and see if they can help, which you can do on live webchat or by emailing – hello@open-money.co.uk
Thanks,
The OpenMoney Team
Confusing and not convinced by the science behind it!
Confusing and not sure about their algorithms! I put in a lump sum deposit that I want a return from in 8 years. If I put the reason as "retirement" is puts it all in a pension, if I select "travelling" it puts it all in an ISA. If I select "just to save" it puts 25% in an ISA and 75% in a pension???? Same goal, same appetite for risk, same end date??? Doesn't give me the reassurance to put my hard earned pennies in based on that! Sorry!!
February 6, 2020
Unprompted review
Reply from OpenMoney
Hi KB,
Thanks for leaving your honest review. With our recommendations we aim to provide 3 bits of financial advice;
- Your goal choice determines the investment product or products (ISA, Pension, GIA).
- We ask for your finacial details to determine that any contribtions you are looking to make are affordable and within the specific product allowances
- The answers you give to our risk profile questions determine the investment portfolio we would look to recommend to you.
If you have any more questions, you can contact our friendly support team via webchat on our website. You can also book an appointment with a financial advisor through your OpenMoney portal.
Thanks,
The OpenMoney Team
Went through the online questionnaire…
Went through the online questionnaire and was told to invest. Set up a stocks and shares ISA which was really straightforward
January 30, 2020
Unprompted review
Reply from OpenMoney
Hi Dan,
Thanks for the positive feedback!
We're glad that you have enjoyed your experience with us at OpenMoney and we hope that you carry on using our services in the future.
Thanks
The OpenMoney Team
Came for the high interest
Came for the high interest, not disappointed. Also the app itself is easy to navigate, easy to set up.
January 30, 2020
Unprompted review
Reply from OpenMoney
Hi Tom,
Thanks for the positive feedback! We're glad to hear you found everything easy to set up and we hope you continue to use our service in the future.
Thanks,
The OpenMoney Team
Was recommended the app by a friend and…
Was recommended the app by a friend and find it very useful
January 30, 2020
Unprompted review
Reply from OpenMoney
Hi Teresa,
Thanks for the kind reply. We're extremely happy that you found the app useful for you and we hope that you carry on enjoying the services we provide here at OpenMoney :-)
Thanks,
The OpenMoney Team
Really helpful and now I'm investing.
January 29, 2020
Unprompted review
Reply from OpenMoney
Hi Salim,
Thanks for the positive feedback. We hope you enjoy your OpenMoney experience for the foreseeable future :-)
Thanks,
The OpenMoney Team
Very helpful
Very helpful, after I initially filled in the questionnaire to determine my investment needs I was allocated a 50/50 savings and investment split, I felt on balance since I am paying into a workplace pension that my pension savings were probably sufficient and when I phoned for an appointment with one of their advisors this was amended instantly and I ended up with a stocks and shares ISA. So far I am happy with the product and at the time of investing I believe OpenMoney had the lowest fees of any provider, I can't say if this is still the case today.
January 25, 2020
Unprompted review
Reply from OpenMoney
Hi Nathaniel,
Thanks for the delightful comment! We’re glad to hear that you enjoyed your experience with us at OpenMoney and we hope that you carry on using OpenMoney’s products in the future.
Thanks
The OpenMoney Team
Website keeps freezing.
Website keeps freezing not able to proceed to the end.
January 20, 2020
Unprompted review
Reply from OpenMoney
Hi Peter,
Thanks for your honest review! Yes, we are aware that there are some issues on the website which for some people it doesn’t let them go through, we are currently working on fixing this issue.
Sorry for the inconvenience we may have caused.
If you would like to speak to one of our support team about your experience, you can do so on our live webchat or by emailing hello@open-money.co.uk
Thanks
The OpenMoney Team
Pretty poor
Pretty poor. Dances you back and forth between an app and a website, never clearly presents the products and tries to lead you on to signing up for something you don't want with no way to change which service you want. I was looking for their ISA and their linear click through only went to pension. Frustrating poorly designed and confusing.
January 15, 2020
Unprompted review
Reply from OpenMoney
Hi Harry,
Thanks for your feedback! OpenMoney is an online financial advice service that aims to help people, no matter what their current financial situation. We offer an app for those who are looking to reduce their debt or build up their cash savings and we offer investments in the form of an ISA, GIA or Pension for those who are ready to invest and want to reach their financial goals.
Our advice is based on the financial information and the financial goals you input in our online journey. You are unable to select your own products. However, you can discuss your recommendation with one of our financial advisors for free to discuss your recommendation further. If you would like to book an appointment you can do so in your OpenMoney portal or by emailing hello@open-money.co.uk.
We apologise for any confusion with our advice journey.
Thanks,
The OpenMoney team
Fantastic service that gave me all the…
Fantastic service that gave me all the relevant information I needed in order to make the correct decision about stocks and shares.
January 13, 2020
Unprompted review
Reply from OpenMoney
Hi Iain,
Thanks for the feedback! It's always great to hear such positive reviews from our customers! We hope you continue to enjoy using our OpenMoney products in the future!
Thanks,
The OpenMoney Team
Rubbish could only go so far in the app
January 8, 2020
Unprompted review
Reply from OpenMoney
Hi Juliet,
We're really sorry you experienced these issues with our app and we apologise for any frustration we've caused. We are aware of some issues regarding the app crashes and we are working very hard to fix them! Hopefully, there should be an updated version of our app available tomorrow.
If you would like to speak to one of our support team about the app update or your experience you can do so on our live webchat or by emailing hello@open-money.co.uk.
Thanks
The OpenMoney Team
Looking to invest in stocks and shares…
Looking to invest in stocks and shares and needed it explained in simple manageable terms which this company did excellently!
January 6, 2020
Unprompted review
Reply from OpenMoney
Hi Johnny,
Thanks for the feedback! We really appreciate it.
If you do need any help in the future or would like to know more about what we do, our friendly support team are available on webchat Monday-Friday, 9am-8pm.
Thanks,
The OpenMoney Team
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