I have be client of Elfin Market since 5 years and will carry on. Just have praising about this finance compagnie never had a problem to put in or out the money I invest. I did tell all my f... See more
Company replied
While we don't verify specific claims because reviewers' opinions are their own, we may label reviews as "Verified" when we can confirm a business interaction took place. Read more
To protect platform integrity, every review on our platform—verified or not—is screened by our 24/7 automated software. This technology is designed to identify and remove content that breaches our guidelines, including reviews that are not based on a genuine experience. We recognise we may not catch everything, and you can flag anything you think we may have missed. Read more
See what reviewers are saying
What a shambles this company is. When they state a figure to repay your balance, it is never actually correct! Just closed my account. They have fleeced me of additional interest since I opened my acc... See more
Company replied
I have been lending for about 5 years now, steady return around 10% per year, over this time. The app is neat and the Customer service has been spotless.
Hi A fraudulent application of some sort was opened in my name and email following a hacking attempt on Sunday 24/8/25 which has now been reported to authorities and my card blocked wit... See more
Company replied
Company details
Written by the company
Whether it's flexible credit at a low rate or Investing in an IFISA. Elfin Market's P2P platform makes life much easier with flexibility and no hidden fees.
Contact info
Regus, 25 North Row, W1K 6DJ, London, United Kingdom
- contactus@elfinmarket.com
- www.elfinmarket.com
3.4
Average
458 reviews
No history of asking for reviews
This company hasn't invited their customers, so reviews may not be representative
Replied to 100% of negative reviews
Typically replies within 1 week
How this company uses Trustpilot
See how their reviews and ratings are sourced, scored, and moderated.
What is customer service?
A shockingly poor experience with CS. I updated the preferred direct debit date four months ago to reflect my new employment payday. A month later I got a missed payment reminder. Checked the app and my bank account and confirmed the payment should have been taken on time, but it wasn't. I wrote to CS via email as there is no other way to communicate with the company, and they have only replied once to request confirmation of my account details. Despite repeated attempts to resolve this issue, I have had to start the complaints process, which will likely end up with the ombudsman. Judging from the other recent reviews, it is apparent that these cowboys quickly outgrew themselves and their ability to provide a proper service.
February 14, 2025
Unprompted review
Reply from Elfin Market
Dear Dave, we thank you for bringing this to our attention and allowing us the opportunity to investigate. We have now resolved all the points you have raised and we hope that this has been sorted to your satisfaction, as we have been in touch via email with you. Please don't hesitate to let us know if you need any further assistance. Thank you.
Unable so far to close my account!!
Was ok at the start but not now. I asked to close my account which strangely can only be done by email more than two weeks ago and I've heard nothing apart from original automated acknowledgement. Not sure what's happening but not very impressed!!
February 5, 2025
Unprompted review
Reply from Elfin Market
Dear Jim, thank you so much for giving us the opportunity to investigate this. We closed your account on 29 January, please accept our sincere apologies that you were not notified sooner. We have now confirmed this via email. We are sorry to see you go, thank you for being part of the Elfin journey. Let us know if you need anything else. Kind regards.
Don't trust this company
Don't trust this company. Took out a loan on a decent APR and then after a few months they decided that they wanted to dramatically up the APR. I had 2 options, either continue with current APR but not be able to use there loan service in the future or accept there dramatic increase but able to use there loan service in the future. I opted for the latter just incase of an emergency and accepted there increase. No sooner than I did this they put a stop on my account. I've never missed a payment with them and they have increases the APR. This is a scam and I'm currently Intouch with the financial Ombudsman over there scam service as they won't go back to the original APR
February 5, 2025
Unprompted review
Reply from Elfin Market
Dear Stephen, thank you so much for your feedback. We are genuinely sorry that you feel this way and as per our email we have now resolved this with you. Thank you again for giving us the opportunity to look into this and don't hesitate to let us know if you need anything else. Kind regards.
Gone downhill rapidly.
Was a good account to have at one point and then the card went. Now the withdrawal facility gone until you allow them access in your bank account. Don't fall for the responsible lender routine, nobody else does this. Asked for account to be closed and still waiting. Customer service is poor so maybe blessing in disguise.
January 3, 2025
Unprompted review
Reply from Elfin Market
Dear Dave, we are so sorry that you have had a bad experience with us recently. We closed your account on 24 January as requested. We have confirmed this via email today. We are required by regulations to refresh our checks on all borrowers from time to time, and this is in line with our responsible lending policy. We perform part of our checks using the Open-Banking technology as it enables us to do this in an automated manner and with full security and data protection. And we will use the Open-Banking access only to perform the affordability check required to unlock your account, in agreement with our Data and Privacy Policies. Don't hesitate to let us know if you need further assistance.
Don’t not trust this company
What initially started ok, turned to an invasive check on account. Have asked to close the account 2 times via email and have been ignored each time. Terrible service and would dread to think how would get assistance if had major issue. Many better alternatives available
January 30, 2025
Unprompted review
Reply from Elfin Market
Dear Kieran, thank you for your feedback. We are truly sorry that you feel that our affordability checks are invasive, however, we are required by regulations to refresh our checks on all borrowers from time to time, and this is also in line with our responsible lending policy. We perform part of our checks using the Open-Banking technology as it enables us to do this in an automated manner and with full security and data protection. And we will use the Open-Banking access only to perform the affordability check required to unlock your account, in agreement with our Data and Privacy Policies. Don’t hesitate if you need further assistance. Kind regards.
This month
This month, They deducted two times of my monthly instalment. I am in need of money urgently, So i am trying to contact via mail. But no response yet. I am mailing for past 8 days. I dono how i get my money back.
January 15, 2025
Unprompted review
Reply from Elfin Market
Dear Sunil, thank you for your feedback. We have responded to your email, please let us know if you have any further questions. Kind regards.
Shocking customer service- won’t resolve a query
They haven’t updated the credit reference agencies and it’s been over 2 months. I have asked for an email to be sent but was asked for the email address. They claim an email was sent in December and January, however equifax have confirmed no email have been sent. They have requested information directly from Elfin market but no response.
November 15, 2024
Unprompted review
Reply from Elfin Market
Dear Daniel, thank you for your feedback. We send a report to Equifax at the start of every month. Please allow us time to investigate this with Equifax. We would be truly grateful if you would email the support team at support@elfinmarket.com so we can get this resolved as soon as possible. Thank you and please accept our sincere apologies for the inconvenience this is causing.
My account was suspended as well
My account was suspended as well. They want to look at my bank account. Very strange and made me uneasy. Been with them from the beginning and will probably close the account.
January 17, 2025
Unprompted review
Reply from Elfin Market
Dear Jacq, thank you for your feedback. The checks you are undergoing now are ongoing monitoring checks to ensure your credit limit is still affordable. They enable us to make sure we have the most up-to-date snapshot of your financial inflows and outflows, based on which we can decide to let you continue to borrow on the platform. Once again, these checks are required by our regulations and are also in line with our responsible lending policy. We are required to verify income and loan affordability on all borrowers from time to time and the Open-Banking technology enables us to do this in an automated manner and with full security and data protection. You can of course decline going through that Open-Banking step, however we will need to keep your account locked as explained as we wouldn’t have been able to confirm your latest income and expenditure. Let us know if you still have any questions about this. Kind regards
Account suspended for no reason
December 2, 2024
Unprompted review
Reply from Elfin Market
Dear Sumudu, thanks for your feedback. As we mentioned in our email to you, this is because, as a regulated lender, we are required to refresh affordability checks on each account from time to time to ensure that the credit limit offered remains affordable to our customers and that we keep on lending in a responsible manner. We have refreshed the checks on your account and unfortunately we are unable to reinstate withdrawals on your account at the moment. We recognise that this is an inconvenience and we are truly sorry that this was not the outcome you hoped for, but this is in line with our policy on responsible lending. You will of course be able to refresh your information and checks in the future and we will let you know when you are eligible. Kind regards.
Excellent service
I've been with Elfin for several years now and while I don't use them that often whenever I have the service has been excellent. Never had any issues. Like several other people who have recently written reviews my account was also temporarily suspended as they needed to reconfirm my information. I expect all financial companies to do this periodically so really not sure why people are bothered by this. It took about a minute to carry out this activity and then my account was ready to use again.
January 6, 2025
Unprompted review
Very poor borrowing suspended until…
Very poor borrowing suspended until they have access to look at my bank account transactions income and expenditure for 365 days. Erm no thanks ive never had any other lender need that info except my mortgage and no other credit application or managing account method from other lenders has asked for this. Is this a scam ? Needless to say refuse to give access so paid it off in full and closed account.
Used to be good but not anymore.
December 30, 2024
Unprompted review
Reply from Elfin Market
Dear Louise, thank you for your feedback here.
Your account was locked as we need to refresh some checks to verify that your Elfin credit line is still affordable to you.
As a regulated lender, we are required to refresh affordability checks on each account from time to time to ensure that the credit limit offered remains affordable to our customers and that we keep on lending in a responsible manner.
This includes an open banking step which we use to verify your income and expenditures.
Should anyone not wish to proceed, we will unfortunately be required to keep their account locked for the time being.
We are sorry to see you go but we understand your decision. Don't hesitate to contact us if you need anything in the future. Kind regards.
Account withdrawal suspended for no…
Account withdrawal suspended for no reason.
I have emailed them countless times to close my account still no response.
Email response time is terrible and no working phone number to speak to someone.
Customer service is zero.
December 26, 2024
Unprompted review
Reply from Elfin Market
Dear Chuka,
Thank you for your feedback.
We apologise for any delay you experienced over the Christmas period. We appreciate that it is frustrating waiting, as mentioned in our correspondence to you, we needed to wait for your Direct Debit to clear before we could close your account.
You contacted us on Monday and we have closed your account on Friday, within 3 working days of your request, due to the bank holiday, and the Direct Debit clearance time.
Your account is now up to date, settled and closed and we have responded to your emails. Let us know if you need anything else. Kind regards.
Seems I'm not alone
Seems I'm not alone, they suspended my account, nothing changed, infact I earn more now than when I opened it.
Will no longer use this service as I have better and cheaper options.
I guess they are in trouble and can't afford to lend.
Have requested account closed.
January 2, 2025
Unprompted review
Reply from Elfin Market
Dear Shaun,
Thank you for getting in touch and for your review, we appreciate your feedback.
Your account was locked as we need to refresh some checks to verify that your Elfin credit line is still affordable to you.
As a regulated lender, we are required to refresh affordability checks on each account from time to time to ensure that the credit limit offered remains affordable to our customers and that we keep on lending in a responsible manner.
This includes an open banking step which we use to verify your income and expenditures.
We have closed your account as requested and responded to your email. Don't hesitate if you need further assistance. Kind regards.
This used to be brilliant
This used to be brilliant. I had a line of credit and paid it down a lot, then took money out as needed.
Then Elfin said they were doubling the rate of interest for everyone, unless you froze your account. Annoying, because I wanted to use it...but froze the account and kept making payments.
Paid the balance right back down again, when it occurred to me that even the higher rate of interest was lower than my.other credit card. So, unfroze the account, to pay off the other card using Elfin.
Went to withdraw some money for that today...and as others have said, my withdrawals are suspended. I was asked to reconfirm my income via Open Banking - which my employer doesn't allow me to use.
One of the things I originally liked about Elfin, was having been able to sign up without using it.
This is like having your credit card limit suddenly reduced/being asked to apply for a whole new card, when nothing changed on your side, and you've been not only a great, but an ideal customer. January is the worst time of year for it, too.
Isn't that what every lendor wants - someone who pays the maximum in interest, then repeatedly pays a reassuring lump off the amount?
Will update if anyone is able to help me - my account was frozen but the interest rate still doubled effectively.
Edited to add: emailed customer service on 2nd Jan, got an automated copy paste on 3rd, replied asking for a real answer. No reply as of 6th.
As for the below reply - affordability checks should not be carried out using different processes to the original method and arguably shouldn't treat customers who already passed checks, as liars.
Nor should customer service reps be telling customers what security measures our employers "should" have in place to protect us, given the specific risks of the individual jobs we do.
Fine to keep the account locked - but then bring back the rate of interest it was originally locked at. This is a bait and switch.
January 1, 2025
Unprompted review
Reply from Elfin Market
Dear Amanda, thank you for getting in touch.
Your account has been locked as we need to refresh some checks to verify that your Elfin credit line is still affordable to you. To do this, please follow the instructions on the Elfin app.
This includes an open banking step which we use to verify your income and expenditures. This is personal to you and should not have anything to do with your employer.
As a regulated lender, we are required to refresh affordability checks on each account from time to time to ensure that the credit limit offered remains affordable to our customers and that we keep on lending in a responsible manner.
Should you not wish to proceed, we will unfortunately be required to keep your account locked for the time being.
Let us know if you have any questions. Kind regards.
Seems a few are having the same issue…
Seems a few are having the same issue with accounts being suspended even though I have more money in my bank account than the my credit limit , very strange indeed, perhaps they are in trouble, perhaps why they pulled the card as well, couldn't fault it at one point I had a great rate at 6% then they upped it to 14 , now suspended 👎
2nd edit hahah funny how they
get a couple of positive reviews, don't look genuine to me
December 28, 2024
Unprompted review
Reply from Elfin Market
Dear Paul, we appreciate your feedback here. As a regulated lender, we are required to refresh affordability checks on each account from time to time to ensure that the credit limit offered remains affordable to our customers and that we keep on lending in a responsible manner. We are sorry that we are unable to help you right now but you will be able to refresh your information and checks in the future and we will let you know when you are eligible. Don’t hesitate if you have any further questions. Kind regards
The best borrowing and Financial…
The best borrowing and Financial Institutions in UK ,very very happy with them,i'am regret because they canceled the green psyhical Elfin Cards.💪👋🥰🤗
December 27, 2024
Unprompted review
are they in trouble
was great at first always paid back before time i have good credit rateing also money in bank but they just put me on tempory hold suspending my account very strange
December 24, 2024
Unprompted review
Reply from Elfin Market
Dear Michael, thank you for your feedback. As a regulated lender, we are required to refresh affordability checks on each account from time to time to ensure that the credit limit offered remains affordable to our customers and that we keep on lending in a responsible manner. We are sorry that we are unable to help you right now but you will be able to refresh your information and checks in the future and we will let you know when you are eligible. You can still make payments when your account is locked. Don't hesitate if you need further assistance. Kind regards.
Was good but now not so good!
Very good service and good interest rate. Didn't use the credit for a few months and borrowed again a couple of weeks ago. Went to pay off the £85 i borrowed and had to do open banking for a review of my account. Now I am unable to borrow. Very strange because nothing has changed since I opened the account. So I've closed the account, which is a shame because it was a good service.
December 8, 2024
Unprompted review
Reply from Elfin Market
Dear Tony, thank you for your feedback. As a regulated lender, we are required to refresh affordability checks on each account from time to time to ensure that the credit limit offered remains affordable to our customers and that we keep on lending in a responsible manner. This includes an open banking step which we use to verify your income and expenditures. We are sorry that we are unable to help you again right now and we understand your request to close your account, which we have now processed and we have responded to you via email. Thank you so much for being part of Elfin Market and feel free to come back to us anytime in the future. Kind regards
I have made a withdrawal it’s more than…
I have made a withdrawal it’s more than 36 hours now..but it hasn’t arrived in my bank account yet…I have written an email regarding that also..but no response…no help…like this I’ll end up paying for that which I haven’t received…poor service…
December 4, 2024
Unprompted review
Reply from Elfin Market
Dear Maanav, thank you for your feedback. As mentioned in our email, unfortunately, your withdrawal was held up by our bank for additional anti-fraud checks, which is why it was not paid instantly to your account. Although there was a delay, your withdrawal was released the following day. We apologise, this is beyond our control and unfortunately occurs from time to time. We also called you to let you know that your money had been released. Let us know if you have any questions. Kind regards.
Hi one quick question
Hi one quick question? I heard effing market don't have physical card? Is it true?
November 22, 2024
Unprompted review
Reply from Elfin Market
Hi Marco, thank you for reaching out. Elfin Market does not currently offer a physical card. Our core feature is that you can withdraw from your Elfin Credit account directly into your registered bank account and use the funds as you wish. So you don’t need a physical card to be able to use your Elfin Credit account. If you have any further questions, please contact support@elfinmarket.com. Kind regards.
The Trustpilot Experience
Anyone can write a Trustpilot review. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active.
Companies can ask for reviews via automatic invitations. Labeled Verified, they’re about genuine experiences.
Learn more about other kinds of reviews.
We use dedicated people and clever technology to safeguard our platform. Find out how we combat fake reviews.
Learn about Trustpilot’s review process.
Here are 8 tips for writing great reviews.
Verification can help ensure real people are writing the reviews you read on Trustpilot.
Offering incentives for reviews or asking for them selectively can bias the TrustScore, which goes against our guidelines.