Chase - Nutmeg £100 opening bonus

RN61

Contacts in event of problems.

Nutmeg

Unit 201- 2nd Floor Vox Studios

1 - 45 Durham Street

London

SE11 5JH
020 3598 1515
support@nutmeg.com

Chase
Freepost at Chase UK, PO Box 17507, Edinburgh, EH12 1PX 0800 376 3333 / 0203 493 0829
ChaseSupportUK@chase.com

Band7

Offer appeared on my iPhone tonight

Band7

Be very careful - - - apparently there is a technical issue if you sign up via Chase. They have lost my money, even though it was deposited directly into Nutmeg, and they presently cannot tell me when they resolve it and when it will be invested. 

Further update: Chase tell me they are not aware of any technical problems between Chase and Nutmeg but Chase CS is able to put you through to Nutmeg CS. I am supposed to be impressed by this, I think.

Nutmeg CS insist that there is a technical issue with Nutmeg accounts opened through Chase.

Nutmeg CS are now telling me that deposits into Nutmeg are not made directly into the customer's account but go into a holding account from which the deposit need to be allocated to the customer account. This despite the deposit being made by Open Banking, and there not being any mention that the money doesn't go straight into your account. Apparently it can take up to 3 working days for it to be allocated to your account. Incredible. I have experience with investing with HL, iWeb, HSBC, Wealthify and InvestEngine - none of them will 'lose' your deposit, and none of them take more than 1 business day to invest your funds.

crumpet_man

Band7 said:

Be very careful - - - apparently there is a technical issue if you sign up via Chase. They have lost my money, even though it was deposited directly into Nutmeg, and they presently cannot tell me when they resolve it and when it will be invested. 

I signed up via Chase and deposited funds via debit card and had  no issues.  Funds are showing in the nutmeg app and also show in Chase app on the save&invest tab.

masonic

Band7 said:

Be very careful - - - apparently there is a technical issue if you sign up via Chase. They have lost my money, even though it was deposited directly into Nutmeg, and they presently cannot tell me when they resolve it and when it will be invested. 

Further update: Chase tell me they are not aware of any technical problems between Chase and Nutmeg but Chase CS is able to put you through to Nutmeg CS. I am supposed to be impressed by this, I think.

Nutmeg CS insist that there is a technical issue with Nutmeg accounts opened through Chase.

Nutmeg CS are now telling me that deposits into Nutmeg are not made directly into the customer's account but go into a holding account from which the deposit need to be allocated to the customer account. This despite the deposit being made by Open Banking, and there not being any mention that the money doesn't go straight into your account. Apparently it can take up to 3 working days for it to be allocated to your account. Incredible. I have experience with investing with HL, iWeb, HSBC, Wealthify and InvestEngine - none of them will 'lose' your deposit, and none of them take more than 1 business day to invest your funds.

I had the same experience as crumpet_man funding via debit card. However, I share your frustration about the delay in investing the funds. I funded my account in the evening of Thursday 9th Feb, so a reasonable timescale for investment would be Friday or failing that Monday. However, I've actually only just had the investments bought today - a week since I funded the account.

Alistair31

crumpet_man said:

Band7 said:

Be very careful - - - apparently there is a technical issue if you sign up via Chase. They have lost my money, even though it was deposited directly into Nutmeg, and they presently cannot tell me when they resolve it and when it will be invested. 

I signed up via Chase and deposited funds via debit card and had  no issues.  Funds are showing in the nutmeg app and also show in Chase app on the save&invest tab.

Likewise. Down £2 already though

PloughmansLunch

Alistair31 said:

crumpet_man said:

Band7 said:

Be very careful - - - apparently there is a technical issue if you sign up via Chase. They have lost my money, even though it was deposited directly into Nutmeg, and they presently cannot tell me when they resolve it and when it will be invested. 

I signed up via Chase and deposited funds via debit card and had  no issues.  Funds are showing in the nutmeg app and also show in Chase app on the save&invest tab.

Likewise. Down £2 already though

Snap! Paid in on Monday via bank transfer and has only just been invested. 

stuartp2000

I think if you read it says they do a funding cycle twice a week. That will explain some of the delays noted above.

mine was invested Tuesday went to 1002 down to 998 and now 1003 clearly I’m not looking at daily longer term but was in the chase app for other things.

I’ve set up a monthly top up so will see how it goes over the next few years but at the moment it’s parked away and I won’t bother too much on how it’s going.

Band7

stuartp2000 said:

I think if you read it says they do a funding cycle twice a week. That will explain some of the delays noted above.

You are probably right. A terrible investment platform though that buys, and probably also sells, just twice a week. 

They have also lied to me. They said they'd get back to me before close of business today, and they have not. Their app also still keeps asking the same questions over and over again, and I have answered them countless times already (I can't get to my dashboard without answering those questions over and over again). I am very, very unimpressed.

masonic

The twice a week dealing delay is compounded by the delay in clearing funds to the customer's account. This sets them apart from virtually all of the competition, as mentioned above. As a relatively expensive product, it is surprising that they operate in such a manner.

It is a good job they don't sell goods, as it would be a right pain waiting at the checkout for a couple of working days for my debit card payment to clear!