The website is not clear to someone starting off. Language used is obscure. Contact with the company I.e is it quilter invest or not. Telephone no not available to quilter invest. Irritating as hell... See more
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I emailed just as they were closing on Friday but still received an immediate response. When the issue remained other solutions were suggested which worked The very helpful Joy stayed for over an... See more
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Wombat is super simple to use. I'd never invested before and opened an account with Wombat to try it out casually at first. Wombat has given me more confidence and even though a lot of reviews menti... See more
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Where most support teams would leave the users query at a cliffhanger. Wombat's support team stuck with me right through the end all the way until a satisfactory conclusion was met. They explained the... See more
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Company details
Written by the company
Quilter Invest makes investing more accessible, giving you one simple platform to save and invest in a way that works for you. Choose from a wide range of investments, including UK, EU and US shares, ready-made funds, and tax efficient accounts such as Stocks & Shares ISAs, Junior ISAs, SIPPs and General Investment Accounts, all in one place. Prefer a straightforward option? Our MyGoals funds offer a choice of risk levels, so you can select an investment approach that matches how much risk you’re comfortable taking. You stay in control, with flexible tools that make it easier to invest regularly, manage your money, and build a portfolio over time. Investing involves risk. The value of your investments can fall as well as rise, and you may get back less than you invest. Quilter Invest does not provide investment advice. Tax treatment depends on individual circumstances and may change. Charges Apply.
Contact info
United Kingdom
- support@quilterinvest.com
- quilterinvest.com
4.2
Great
514 reviews
Asks customers to review
This company invites their customers to review, whether positive or negative
Replied to 50% of negative reviews
Typically takes over 1 month to reply
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Really poor service/app
Really poor service/app, I opened an account with the intention of switching over my savings but so glad I tested with a smaller amount before doing that.
Help pages are not very clear and support is only mon-fri during office hours, but even worse the support is all online via a not very useful chat. You ask a question and a while later someone answers part of your question or they say they don’t understand your question, you then clarify your question and you get that partly answered in another while.
I love the interest rates on offer and love the idea of daily interest being paid, but none of that can ever make up for bad service, I’ll stick with YBS.
January 27, 2025
Unprompted review
Reply from Quilterinvest
Hi Paul. I'm sorry to hear that you have not enjoyed your NuWealth experience. Our customer service team are available via email AND chatbot from 9am-5pm Monday - Friday and are happy to help. Our chatbot's programming is still being developed, your feedback will be taken into consideration as we look to improve the chat.
Kind regards,
NuWealth Team.
Account now closed
I have closed this account due to slow progress of communications., the the opening balance had been returned after 1 day, not for me. Sorry.
January 6, 2025
Unprompted review
Reply from Quilterinvest
Hi there, thank you for taking the time to leave a review. Have you double checked that your response from customer service hasn't ended up in your junk mail? We are also experiencing a higher number of emails at the minute and it may take our customer service team until the next working day to respond.
There are two ways of funding your easy access saving account, via Faster Deposit which can take until the next working day to complete or via Bank Transfer which may take up to 48 hours.
Bondsmith are one of our 3rd party providers, Bondsmith Savings Ltd is an FCA regulated electronic money institution who powers the Savings Accounts feature on NuWealth and briefly holds your funds while they are in transit between NuWealth and GB Bank. Bondsmith Savings Nominees Ltd is a wholly owned subsidiary of Bondsmith Savings Ltd who are the trustee for your funds while they are held at GB Bank. GB Bank is an award-winning, fully authorised and regulated UK bank (FRN: 850286), dedicated to providing accessible and competitive savings accounts.
I can assure you that your fund are safe with NuWealth and our friendly customer service team are there to help.
If you have any questions or require assistance please do not hesitate to reach out to us at support@NuWealthapp.com.
Kind regards,
NuWealth Team.
AVOID, AVOID, AVOID
AVOID, AVOID AVOID. You have been warned. Shockingly clumsy application/verification procedure. Advertised product not available within that app, and so many caveats not published in the headline "offers"
No customer service.
I have closed everything to do with them and, removed the app and will take a slightly lower rate from other superb providers such as Chase Bank and Atom Bank.
January 6, 2025
Unprompted review
Reply from Quilterinvest
Hi Ian, Thank you for getting in touch.
There was a short delay in the authorisation of your account as our compliance team just needed to run a few additional checks on your account before they could finalise the activation. At NuWealth we take the security of our customers accounts and funds seriously and have put measures in place that allow us to ensure this. Our customer service team did reply to you on the same day to confirm that your account was now fully up and running.
Our customer service team are available via email and chatbot from 9am-5pm Monday - Friday and are happy to help.
If you would like to reach out to us at support@NuWealthapp.com we would be happy to answer any questions you may have and provide any assistance needed.
All the best,
NuWealth Team.
not a bad App
not a bad App, have sold a little and removed a little preforms to what it says.
A few tech issues but they seem to resolve quickly not drawn out.
Customer service good.
Downside some companies you you want to invest with you have to go to other sites.
December 9, 2024
Unprompted review
Reply from Quilterinvest
What a lovely review, we're so pleased you are enjoying our app and have found our customer service team helpful. Thank you for taking the time, Andy, it's much appreciated!
Thanks, Wombat Team.
Don't invest with them
Don't invest with them. You will never see your money, story upon story and more money to be paid to release your money. Calmo sh ub, was my last hope wich i can recommend for others .
September 30, 2024
Unprompted review
Reply from Quilterinvest
Hi Agnes, could you please contact our customer service team at support@NuWealthapp.com so that we can look into this for you. I am unable to locate an account under the name Agnes Dempsey. Please be assured that we would never withhold a customer's funds and if you are having trouble withdrawing funds please do get in touch so we can assist you.
Kind regards,
NuWealth Team.
Broken trust and massive losses
As far as the app goes, my experience of it has been positive - so positive that, when Wombat/NuWealth asked if its customers would like to invest in the company itself (through crowdfunding platform Crowdcube), I felt it was a good move.
Wombat/NuWealth have progressed so well, as a new fintech, that they have just been acquired by Quilters. However, Wombat/NuWealth have sold their own company shares to Quilters at a 65% loss - in other words, Quilters have bought a bargain.
The effect, however, is that those of us who were stupid enough to buy shares in NuWealth itself, have lost out big time.
No apology from NuWealth for selling to Quilters at a massive loss; no apology for the fact that we, the shareholders, had no say in the matter.
Obviously Quilters are laughing all the way to the bank. The rest of us have lost thousands.
What a despicable way to treat your own investors.
As for trust moving forwards - it is in the toilet.
*************
UPDATE 25/09/2024
I am unmoved by Wombat/NuWealth's corporate response.
The senior management team made sure they were very well looked after in the acquisition. NuWealth cynically used Crowdcube to try and dig itself out of a hole in 2022, which didn't work - so while on a continual financial slide downwards, sold to Quilter, to avoid liquidation. The company was poorly run, is the long and short of the matter.
Which is a shame, because the app and offering were very competitive. HOWEVER, given the very poor management decisions which were made, it also draws my attention to the fact that NuWealth does have FSCS protection, to a maximum of £85,000.
As my investment approaches this threshold, it makes me feel I don't want to exceed this, in the event that NuWealth continues along its poor development path, following which the company (even under Quilter) be deemed not worth retaining.
Why would I take the risk of losing my savings in excess of £85,000, when NuWealth has proven itself prepared to be so dishonest, so lacking in transparency as a company and so prepared to betray its own shareholders?
So I am now looking at alternative providers - at the very least to have an alternative Stocks and Shares ISA - and very probably to move my investments in time.
You cannot expect to operate in such a fundamentally incompetent and dishonest way and not expect to undermine customer trust in you.
To anyone reading this, my personal, revised view of Wombat/NuWealth is that while the app has been a very good offering, the company has not been well run and your savings may be at risk if you choose to put your money into a Stocks and Shares ISA - not because stock market investment carries risks, but because NuWealth has not been run in a manner which indicates a stable and safe business model.
My view: steer clear and look at alternatives.
September 17, 2024
Unprompted review
Reply from Quilterinvest
Hi Julia,
Thank you for sharing your experience as an investor, and we really appreciate your support as an early investor in NuWealth. We understand your frustration and disappointment with the outcome of the acquisition, and we sincerely regret the negative impact this has had on your view of NuWealth.
The decision to sell at a lower value was not made lightly. It was driven by circumstances beyond our control, and was made to secure the long-term future of the company in a highly competitive market. Whilst we acknowledge that this outcome did not favour all shareholders, it was a necessary step to secure the company’s mission, employees and customers moving forward.
We are truly sorry that you feel let down, and that you didn’t have the opportunity to be more involved in the process. We are committed to our mission, our users, and our investors, and always strive for transparency, however, involving all shareholders in this decision was not possible.
Your trust and investment in NuWealth has been invaluable, and we’re sorry we couldn’t deliver the outcome you had hoped for.
Thank you again for sharing your feedback. We take it seriously, and will continue working hard to regain your trust.
Please reach out to support@nuwealthapp.com if you have any further questions. Or want to discuss your feedback further.
Best,
Team NuWealth
Awful company
Awful company. Why let you buy stocks and shares which are for the long term then change their name and force you to sell them? costing me £200. It's always suspicious when a company totally changes it's name. I would not trust investing any money with these chancers. AVOID
September 2, 2024
Unprompted review
Reply from Quilterinvest
Hi Clive,
We're sorry you've felt that the name change has negatively affected your experience of our app. The name change only affects the brand name and no other app functionality has changed. Please reach out to support@nuwealthapp.com if there's anything we can do to assist you
Kind regards, NuWealth
Communication so bad it might actually be illegal
Sensible investors hold investments as a long-term plan. They aren’t opening an app to check on them every day, or even every year. They expect to be contacted if something important happens.
Despite that, this company thought it’s OK to change their name, and close down one of their main account products, selling down all the shares, with zero external communication outside the app about either of these decisions, even for customers who they could see don’t even have the app installed and haven’t opened it for years. They left it to their third party provider to email customers saying their shares will be sold and then to the customer to do the detective work about what the hell is going on and who ‘NuWealth’ even are when they’ve only heard of Wombat Invest.
Communication is absolutely key and this company has missed the mark so far it’s quite unbelievable to be honest. There are laws about this stuff so i’m quite curious if they have been broken here. It makes me wonder what other strange decisions they are making and what’s going on in the company. They clearly don’t know their customers. I would not use them again (unless they gave me more free shares, which was the only reason I used them in the first place).
August 10, 2024
Unprompted review
Reply from Quilterinvest
Hi Peter,
I'm sorry to hear this. I can assure you that we are a legitimate business acting within our clearly outlined terms and conditions. We understand the situation is frustrating and we empathise but we are acting with our customer's best interests at heart.
We have consulted with the relevant regulatory bodies and as such the closure of our instant account has been done legally and is in line with our terms and conditions.
Also, regarding the name change we decided to rebrand to NuWealth as the Wombat brand no longer fit the direction our business has taken. We had grown into a mature finance platform, providing different account types for different users needs, and we were of the opinion that the Wombat brand no longer presented the best view of what we have to offer. NuWealth better matches the business as we are now and what we hope to be in future. You can read more about this decision in our CEO, Kane's announcement on LinkedIn from 3rd June: https://www.linkedin.com/pulse/wombat-becoming-nuwealth-nu-way-build-your-wealth-wombatinvest-j9sfe/?trackingId=s%2FDKlv56kfv1Rm8A07yriQ%3D%3D. This rebrand does not affect your account in any way except that the app and all further communications will be via NuWealth.
We sent multiple emails regarding the change in the weeks leading up to both the rebrand and closing our instant account proposition. If you haven't received them that would be because they have either gone to your spam, or you have unsubscribed from all our marketing emails in which case we may not have been able to go through. We also posted about the change on our socials such as Instagram and Facebook.
At NuWealth we pride ourselves on our communication and customer service. Any changes are communicated to customers well in advance and all actions taken are legal and with out customer's best interests at heart.
Kind regards,
NuWealth Team.
Not the best experience
Not the best experience, initially I tried to redraw my money in 2022 but wasn’t able to. I had no choice but to leave my money in there. Fast forward August 2024 when the company is being closed. I tried to take out my money as they told me to do so in their emails but unfortunately I could not. I’ve now had to sell my stocks.
August 6, 2024
Unprompted review
Reply from Quilterinvest
HI Deborah, thank you for your review.
You were unable to withdraw your funds in 2022 as the funds in your account were from promotional bonuses you received in November 2022. As per our terms and conditions, promotional bonuses are required to remain in the account they were credited to for a minimum of 90 days.
We are closing down our instant account; this was a difficult decision but after careful consideration, we decided that this was in our customer's best interests.
As you had assets remaining in your Instant Account after the sell-down deadline (5th August), we have sold them for you and will deposit the money back to your bank account. The withdrawal process will be automatically initiated on Tuesday next week. If you would like to request withdrawal before this point you are able to do so via the app. Please ensure your nominated bank details are updated and correct.
Rest assured your money will be in your bank account next week.
If you have further questions or need assistance please do not hesitate to reach out to us at support@nuwealthapp.com.
Kind regards,
NuWealth Team.
Good interest rate. Great to see interest added daily, love this A/C
Good interest rate.
June 13, 2024
Reply from Quilterinvest
What a lovely review, we're so pleased you are enjoying our app Ernie; we think it's pretty great too!
If you ever need assistance please don't hesitate to reach out to our friendly customer service team at support@wombatinvest.com.
Thanks, Wombat Team.
Wombat invest have today lost approx…
Wombat invest have today lost approx 40k of my investment today, this is obviously very concerning, I have reported this discrepancy to support but the issue remains- I’m so worried, but really want to highlight this issue with anyone looking at becoming a wombat customer..
Another issue I had with wombat was that earlier in the year, they shared my contact, address and investment details with another customer.
June 13, 2024
Unprompted review
Reply from Quilterinvest
Dear David,
We wish to assure you that your funds are secure, and we are actively collaborating with our third-party custodian to expedite the resolution of this issue.
The discrepancy arose due to an error made by our third-party custodian during the processing of a corporate action. Our dedicated customer service team promptly addressed your emails, and our lead developer initiated an investigation without delay. We have also urgently contacted our third-party provider to investigate this display issue.
We sincerely apologize for any inconvenience and distress this situation may have caused. Rest assured, we will keep you informed as soon as we receive an update. In the meantime, please feel free to reach out if you have any further inquiries.
Best regards,
The Wombat Team
Reply from Quilterinvest
Hi Richard, thank you so much for taking the time to leave us such a wonderful 5 star review; we're so happy to hear that you found our onboarding process simple and are enjoying saving with our app. If you ever need assistance please reach out to us at support@wombatinvest.com.
Best wishes.
Wombat Team.
Reply from Quilterinvest
Hi Nicholas, thank you so much for taking the time to leave us such a glowing 5 star review; we're so happy to hear that you have enjoyed using our app. Best wishes. Wombat Team.
Hopeless app
Hopeless app. I’ve tried to log in repeatedly since opening my account. But the app covers the password field within”continue” tab so you can’t insert the password. Wombat response was that I must have adjusted my photo settings on my iPhone and to revert the setting to normal 🤔. Tried that (despite not having changed the settings) but the app still didn’t let me input my password. So I am still unable to log in. Luckily I only transferred £5 when opening the account as I didn’t want to risk a higher amount. I’ve decided to invest my money elsewhere as can’t trust the app to manage/access my money.
May 4, 2024
Unprompted review
Reply from Quilterinvest
Hi there,
Thank you so much for taking the time to leave us a review. I am sorry to hear that you haven't enjoyed your Wombat experience. Please contact our customer service team at support@wombatinvest.com and we will endeavour to resolve this issue ASAP for you.
Kind regards,
Wombat Team
easy to use system
May 17, 2024
Reply from Quilterinvest
Hi Andrew, thank you so much for taking the time to leave us such a glowing 5 star review; we're so happy to hear that you have enjoyed using our app. Best wishes. Wombat Team.
Funding New Account
Account set up all OK but, cant seem to see how i transfer money into my new account?
May 20, 2024
Reply from Quilterinvest
Hi Hugh,
Thank you for taking the time to leave us a review. To transfer funds into your account you need to open the app to the home page > click add money. I have attached some links to our FAQ and the Wombat learning hub that you will find useful in helping you to get started using the app:
We also have free courses in investing and saving to help you develop your knowledge and understanding, the: Wombat Wisdom Investing course and our Wombat Wisdom Savings course.
I hope this helps. Please let me know if you have any other questions. You can reach our friendly customer service team at support@wombatinvest.com
All the best,
Wombat Team
Company does not look after is client base …
Started to invest £25 over at least 5 years I now have £12. This company does not look after there client base and my other 2 company's I invest in fiatvision and plumb have there clients back. All this co.pany want is fees fees fees avoid this company like the plague you WILL loose your investments and not only from stock and shares dropping but from company policies. Wombat is absolute Rubbish I am cashing in what is left I expect a clause will comeuppance somewhere saying you have to pay the entire amount as fees so you will be left with zero no shock. Be warned £1 !a month for what ! Nothing no emails advise until NOW AFTER THE REVIEW. I use plum have done for 6 years and they don't charge and make me money. This is some sort of scam
May 24, 2024
Unprompted review
Reply from Quilterinvest
Hi Graeme,
We're sorry to hear this. At Wombat our customers are at the heart of everything we do and our fees are highly competitive.
All standard accounts became subject to our fees from 1st December 2021 regardless of the account value. An email was sent out on 16th November 2021 to all our users advising of this change.
The fees consist of a £1 Wombat fee that's charged and billed monthly and a 0.10% platform fee that's charged annually but billed monthly. We will always take your fees from your cash balance if possible. However, we will sell a small amount of your largest investment to realise the cash to pay for your fees if you do not hold a cash balance at the time of the fees run. This will happen automatically. You can see how much your fees will be based off your portfolio by going to the Fees and Changes page within the Accounts section of the app. You can check what the fees will be as your portfolio grows in this area of the app as well.
Fees are billed on 10th of every month, or the closest working day following the 10th. You will be able to see this and any associated sell orders to cover your fees under the Transaction History page within the Accounts section of the app.
I can assure you we are not a scam and are fees are highly competitive. All accounts created before 1st December 2021 received an email informing them of the change in fees and all accounts created after this date will have agreed to the fees during account registration.
Many thanks,
Wombat Team
Why does it take long for money to go…
Why does it take so long for money to go in and out of the account, compared to say Atom?
May 16, 2024
Reply from Quilterinvest
Hi Kevin, thank you for taking the time to leave us a review. For our base rate tracker savings account withdrawals are processed within 1 working day. As your withdrawal was instructed on Friday afternoon you can expect the funds to settle in your bank account by close of business today. Please do not hesitate to get in touch at support@wombatinvest.com if you have any questions or if we can be of assistance.
Kind regards,
Wombat Team.
Honstly I didn’t have a clue what to do…
Honstly I didn’t have a clue what to do they don’t make it simple
May 7, 2024
Reply from Quilterinvest
Hi Sarah,
I am sorry to hear that you did not enjoy our app.
Our customer service team are more than happy to answer any questions and they have already emailed you offering to answer any questions you have regarding the app. They also included links to our FAQ (https://www.wombatinvest.com/faq) and the Wombat learning hub (https://www.wombatinvest.com/learning-hub) that you may find useful.
They also advised you of the free courses in investing and saving that Wombat offer to help customers develop their knowledge and understanding. Wombat Wisdom Investing course (https://www.wombatinvest.com/campaigns/wombat-wisdom) and Wombat Wisdom Savings course (https://www.wombatinvest.com/campaigns/wombat-wisdom-savings.)
If you could provide any specific feedback regarding the app and what we can do to improve we would be very appreciative of this; we are always looking to improve our app and make it accessible for all.
Kind regards,
Wombat Team
Reply from Quilterinvest
Hi Michael, thank you so much for taking the time to leave us such a wonderful 5 star review; we're so happy to hear that you found our onboarding process simple and are enjoying our app. If you ever need assistance please reach out to us at support@wombatinvest.com.
Best wishes.
Wombat Team.
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