Funding Circle, Ltd.
Client Reviews on Funding Circle, Ltd.
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Adding to the overhwhelming pile of 1 star reviews. Despicable and utterly useless. Do not ever sign up to get finance with these cheats.
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Attitude of complaints dept is rude and awful!!!
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I don't normally review things but, this place is so terrible and people deserve to know!
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Worst customer service I have ever had. Poor.
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ABSOLUTELY ABYSMAL. Do not know where to start my experience
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financial freak show - do yourself a favour, really don't waste your time here.
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A failed investment vehicle. 7 defaults by bad debtors in 2019 alone, no insurance policy for lenders (unlike Ratesetter who do provide security for their lenders) Ratesetter have returned me a profit and Funding circle have lost me on average 1.4%Utterly misleading marketing, using your money to lend to high risk companies even when you select "Conservative" lending to only A/A+ companies, yet still loose your money while collecting their fees. Avoid. Shop around and choose another provider.
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Funding Circle's trick of withholding withdraws is to say they have to sell ALL of the depositor's "loan parts" to meet the withdraw request before they release funds. This is now taking over three months and is increasing. They could release funds after each individual part is sold; but no. As their loses increase I would suggest to any potential investor to avoid Funding Circle like the plague
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Misleading... The advertising made it sound like I'll be lending to the businesses but the truth is that they lend the money on your behalf. That means you don't choose how much and to whom you want to lend they invest 10-20£ in hundreds of loans. The only control you have is to choose between two options less and more risky. My retirement account has more options than this and gets better returns. I thought this could be a fun alternative to ISA stocks and shares but it's like one of those products for old people that is so simplified you only give your money for a promise of a return. Also I don't even see the point of letting me know what businesses I'm lending to when I have no control over it.Update: to get the cash out is a problem too! They are asking for copies of my bank statements! Paying money in is easy getting them back not so much! Question have Fidelity ever done anything like that with my ISA account? No - it was easy for me to invest disinvest get cash in and out. It's cos they are professional and this is just a mockery of a financial services provider. I presume they struggle with liquidity so have to deploy stalling tactics...
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Single handedly using all the trees!The amount of junk mail this company sends out is unreal, they borderline harrass businesses my works receives so many for their different clients, I return them, I have even written a letter explaining that we are a regestered office for some businesses and that we do not forward junk mail or marketing - asking them again please take care of the planet and stop sending it repeatedly and they carry on!**UPDATEStill receiving junk mail
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