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
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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
Best card for travel I have been using Elfin Market for a few months now. I love the Elfin Card, especially when it comes to travelling. Unlimited cash withdrawals and no foreign exchange fees. Tha... See more
This popped up on my FB feed today. I applied not really expecting to be approved my credit isnt the best tbh and was given 2k, yes the interest is slightly higher however i expect this as a low credi... See more
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
Asks customers to review
This company invites their customers to review, whether positive or negative
Replied to 100% of negative reviews
Typically replies within 1 week
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Awful company, zero customer service just another useless tech company
Awful company, signed up was given a limit, first time I actually wanted to use the service they asked for bank statements took 5 days and then told me they were closing my account. Absolutely pointless! To add to this the rate is going up by 7% +. I would stay well away from the supposed innovative tech lenders as the only thing they are doing is disrupting good customer service.
Update: 26/02/24 elfin are now trying to remove the feedback, clearly they don’t want other people to see how awful they are! Well unfortunately it’s verified and genuine so review stays!
January 25, 2024
Unprompted review
Reply from Elfin Market
Dear Jason, to answer your latest comment, this is due to us requesting more information from Trustpilot in order to investigate your query, as we were unable to identify your account from your review. Thank you for providing the information we requested via Trustpilot. To explain, you opened your account in 2021 and requested to draw upon the credit limit for the first time in 2024. As a responsible lender, we had to make sure that the loan given to you was affordable and so we requested more information to validate your income and affordability of the loan. Based on the documents you sent, our Credit Team determined we were unfortunately unable to proceed with the loan request. We sincerely apologise that this caused you inconvenience, but we trust this clarifies the matter. Let us know if you have any questions. Kind regards.
Elfin purse was supposed to be cheaper…
Elfin purse was supposed to be cheaper than your credit cards, my interest rate is 18.25 and they are rising it to 29%. However I have excellent credit and just got a credit card at 10.9%, so won’t be accepting there increase I will be paying it off at the 18.25 and use elsewhere, all my high interest cards I have been closing one by one. Elfin your not cheap anymore, would avoid these
January 22, 2024
Unprompted review
Reply from Elfin Market
Dear Glyn, we appreciate your feedback. We fully understand you are disappointed that we are increasing rates and sincerely apologise for any inconvenience caused. We have explored a number of alternative options over the past year to keep your interest rate from increasing, despite the difficult economic context. The new rate we are offering you is what the platform has been offering to new borrowers with a similar credit profile for the past 6 months. As stated in our email, you can opt out of the rate increase by emailing us, and then pay off your remaining balance at your current interest rate. Do not hesitate if we can be of further assistance.
7.45% increase. joke! should be ashamed Elfin
Yes I agree with many other customers that a hike of 8% plus is highway robbery and using the excuses of the economy. Am I wrongly thinking the interest rate have come down slightly, but yet again the customer gets the short straw.
Yes I appreciate that the economy has changed, but does an 8% increase justify it. Maybe 3 or 4% would have been more realistic.Tutu!! Elfin this maybe the end of your platform as customers will look elsewhere.
Don't bother sending the same response you have sent everyone else because this is a easy option to do. "Close the account by paying it off as the current rate" This wasn't the reason it took this out in the first, it was convenient if and when I needed the extra cash.
January 11, 2024
Unprompted review
Reply from Elfin Market
Hi Paul, we appreciate your feedback. We fully understand you are disappointed that we are increasing rates and sincerely apologise for any inconvenience caused. We have explored a number of alternative options over the past year to keep your interest rate from increasing, despite the difficult economic context. The new rate we are offering you is what the platform has been offering to new borrowers with a similar credit profile for the past 6 months. As stated in our email, you can opt out of the rate increase by emailing us, and then pay off your remaining balance at your current interest rate. Do not hesitate if we can be of further assistance.
My interest rate
My interest rate went up over night 14.5 % can't believe it now you more expensive than my credit cards without the security you get using a credit card
January 10, 2024
Unprompted review
Reply from Elfin Market
Hi Joseph, we appreciate your feedback. We fully understand you are disappointed that we are increasing rates and sincerely apologise for any inconvenience caused. We have explored a number of alternative options over the past year to keep your interest rate from increasing, despite the difficult economic context. The new rate we are offering you is what the platform has been offering to new borrowers with a similar credit profile for the past 6 months. As stated in our email, you can opt out of the rate increase by emailing us, and then pay off your remaining balance at your current interest rate. Do not hesitate if we can be of further assistance.
Just Increased Interest Rates by 8.25%
This was a great idea when they started out. Low interest rates and no charges for foreign transactions.
At one point they had major issues crediting money to the accounts. They changed banks, but this caused a great deal of stress for users whilst payments were missing. No compensation was given. Empty apologies were handed out. The stress was terrible and they didn't care.
Then in 2023 they increased their interest rate by about 2%. This was fully understandable. Yesterday I received an email stating that the interest rates were going up by 8.25% to over 14% by the 10th of February. This is now more expensive than most of my credit cards, which offer 18 months interest free borrowing for a 3.5% fee.
They are now gouging their customers and have ruined the USP of Elfin, for private profit. When I asked for my account to be suspended, as I am not going to pay such outrageous interest rates, I received a condescending reply.
Avoid this company.
January 10, 2024
Unprompted review
Reply from Elfin Market
Hi Christopher, we appreciate your feedback. We fully understand you are disappointed that we are increasing rates and sincerely apologise for any inconvenience caused. We have explored a number of alternative options over the past year to keep your interest rate from increasing, despite the difficult economic context. The new rate we are offering you is what the platform has been offering to new borrowers with a similar credit profile for the past 6 months. As stated in our email, you can opt out of the rate increase by emailing us, and then pay off your remaining balance at your current interest rate. Do not hesitate if we can be of further assistance.
Doubled interest rates!
After initially low interest rates that made Elgin make sense, they have now doubled their interest rates, making personal loans and even some credit cards with other lenders cheaper. Ruined the USP of Elfin unfortunately.
January 10, 2024
Unprompted review
Reply from Elfin Market
Hi Jack, we appreciate your feedback. We fully understand you are disappointed that we are increasing rates and sincerely apologise for any inconvenience caused. We have explored a number of alternative options over the past year to keep your interest rate from increasing, despite the difficult economic context. The new rate we are offering you is what the platform has been offering to new borrowers with a similar credit profile for the past 6 months. As stated in our email, you can opt out of the rate increase by emailing us, and then pay off your remaining balance at your current interest rate. Do not hesitate if we can be of further assistance.
Hiking APR and lost their appeal
Sadly, what started off as a 5% apr has now increased to 18% in 2 YEARS! Clearly the company are in trouble, so best to steer clear. Existing customers would do well to freeze their accounts, pay off and close.
January 10, 2024
Unprompted review
Reply from Elfin Market
Hi Ben, we appreciate your feedback. We fully understand you are disappointed that we are increasing rates and sincerely apologise for any inconvenience caused. We have explored a number of alternative options over the past year to keep your interest rate from increasing, despite the difficult economic context. The new rate we are offering you is what the platform has been offering to new borrowers with a similar credit profile for the past 6 months. As stated in our email, you can opt out of the rate increase by emailing us, and then pay off your remaining balance at your current interest rate. Do not hesitate if we can be of further assistance.
Started off amazingly well
Started off amazingly well . Apr 4.9 suddenly increased to over 14 % Apr . Card was stolen , no human interaction , and takes on average 4 days to get a reply ! No telephone number for support.
January 10, 2024
Unprompted review
Reply from Elfin Market
Hi Raj, we appreciate your feedback. We fully understand you are disappointed that we are increasing rates and sincerely apologise for any inconvenience caused. We have explored a number of alternative options over the past year to keep your interest rate from increasing, despite the difficult economic context. The new rate we are offering you is what the platform has been offering to new borrowers with a similar credit profile for the past 6 months. As stated in our email, you can opt out of the rate increase by emailing us, and then pay off your remaining balance at your current interest rate. Do not hesitate if we can be of further assistance.
I have send email and they replied soon with in 2days
I have send email, but I didn’t got any response from customer support.
I have paid £1100 to wrong account associated with elfin market ltd from my Barclays account, my elfin account details are as follows
From
Name: Sukumar
Account number: 00000000
Sort code: 00-00-00
To
Name: Elfin market Ltd
Account number: 00000000
Sort code: 00-00-00
Reference: BMXK84EY
But I entered wrong account details as follows
Account name: Elfin marketplace Ltd
Account number: 00000000
Sort code: 00-00-00
Refere: BMXKE4EY
Kindly help me with this transaction as soon as possible.
Today I got response from elfin (Alison) and my money came back to my account.
This was awesome.
Thank you so much for elfin market, I would recommend to everyone,
I would like to give 10 star.
January 2, 2024
Unprompted review
Got account opened and showed the…
Got account opened and showed the credit and said card will not arrive soon as they have run out. First ever company says that. further i tried to withdraw and it was showing next business day with 24-48 hours. Next got email to send bank statement to verfiy myself as they already done credit check. Sent all documents and said we are sorry and will close your account. Seen the replies from others they have sent and its same as always. Wont trust this company and will never apply with this company or suggest. Worest ever company.
December 18, 2023
Unprompted review
Amazing platform
Amazing platform
Great rates and super quick process. Application was done in 5 minutes and withdrawal came straight to my bank account. Wish I could have their physical card but it seems to be too demanded. App is very easy to navigate with clear instructions as to how and when repayments are collected. Well done to the elfin team!
November 29, 2023
Unprompted review
A nicely positioned helping service
A nicely positioned helping service. Amazing service and great facility, very reasonable too. Happy to have such facility that has been greatly helpful for me. Thank you so much.
September 21, 2023
Unprompted review
Easy and reliable
November 10, 2023
Unprompted review
I got the elfin account very quickly…
I got the elfin account very quickly and got 2000 pound of credit and I withdraw money after 1 months,that was my first withdrawal and the money didnt reached on my bank account later they suspended my elfin account asked for more bank statement and later they cancelled my account without giving me any reason. Poor service and its worst than the credit card
November 20, 2023
Reply from Elfin Market
Hi Sharath, we have requested more information privately so we can investigate your account in more details. Thank you for your patience and do not hesitate if you have any further questions. Kind regards
Great service
Great service, after all final checks got done fund's are released immediately into bank once withdrawn and repayments are set out clearly. Would 100% recommend
November 16, 2023
Unprompted review
The best financial support
I had the best financial support for sure from Elfin. They helped me to Save quite a lot of money. But could have been better if the Interest rate I've received was a little bit lower as I've seen on the advert.
A BIG thank you to Elfin and appreciate the help.
November 14, 2023
Unprompted review
Good company
November 9, 2023
Unprompted review
Excellent service.
November 8, 2023
Unprompted review
Great platform
Great platform. Signed up in just a few minutes, made a withdrawal that went straight to my bank account. Interest rates are reasonable and support team is quick and nice. The app is beautiful, I do love their design and colors. Haven’t ordered a card yet as they seem to be out of stock but I actually prefer withdrawing to my Monzo account and using my Monzo card. That’s going to save space in my wallet! Keep up the good work Elfin!
November 6, 2023
Unprompted review
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