Any experience of 'Moola' robo-investment?

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  • chockydavid1983
    chockydavid1983 Posts: 713 Forumite
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    Is there a link to the offer or is applied automatically?
  • Voyager2002
    Voyager2002 Posts: 15,286 Forumite
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    chockydavid1983 wrote: »
    Is there a link to the offer or is applied automatically?

    The offer has now been pulled: they cite "overwhelming demand".
  • Alexland
    Alexland Posts: 9,653 Forumite
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    Voyager2002 wrote: »
    The offer has now been pulled: they cite "overwhelming demand".

    Interesting, I wonder if everyone that signed up before it was pulled were in the first 500 or however many they are going to honour? I might drop them a message and ask about our accounts.
  • Herbalus
    Herbalus Posts: 2,634 Forumite
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    Alexland wrote: »
    Interesting, I wonder if everyone that signed up before it was pulled were in the first 500 or however many they are going to honour? I might drop them a message and ask about our accounts.

    They said upon sign-up that they would confirm eligibility for offers when they check the account opening etc in the coming days.

    I was concerned about the first 500 when I signed up this morning, but expect them to tell me within the next week whether I made it. If not I will call them next week.
  • buyhighselllow
    buyhighselllow Posts: 243 Forumite
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    I was tempted by this offer this morning, but having done some research including this

    http://citywire.co.uk/wealth-manager/news/diary-of-a-digital-investor-what-are-they-doing-with-my-moola/a1031653

    I decided it was a very flakey way of investing
    Over £2K made from bank switches and P2P incentives since 2016 :beer:
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
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    buyhighselllow wrote: »
    I was tempted by this offer this morning, but having done some research including this

    http://citywire.co.uk/wealth-manager/news/diary-of-a-digital-investor-what-are-they-doing-with-my-moola/a1031653

    I decided it was a very flakey way of investing

    I don't see why, AFACS the article isn't that different to Jeremy Ckarkson criticising a Honda Jazz because it doesn't have the same acceleration as a Bugatti Veyron.
  • Alexland
    Alexland Posts: 9,653 Forumite
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    Yeah that Citywire article and the relatively high fees don't both me. I went for their mid risk option and have pretty low expectations but will give them a year to persuade me they are any good but I think it's unlikely.
  • buyhighselllow
    buyhighselllow Posts: 243 Forumite
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    AnotherJoe wrote: »
    I don't see why, AFACS the article isn't that different to Jeremy Ckarkson criticising a Honda Jazz because it doesn't have the same acceleration as a Bugatti Veyron.

    The rather odd fund selections based on profile made them as attractive as a 1970's Trabant :p
    Over £2K made from bank switches and P2P incentives since 2016 :beer:
  • Shedman
    Shedman Posts: 1,495 Forumite
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    One of the things that concerned me about going for the ISA option on this offer is that the cashback is paid after 6th April next year and will be paid into the ISA account per the T&Cs... "If you have an ISA account and you have not yet used your ISA allowance then it will be paid into your ISA account"

    This would presumably be regarded as a subscription of funds to a 2019-20 ISA and hence would automatically mean that you have committed to Moola for the 2019-20 Stocks & Shares ISA by default - which of course may not have been something you intended?

    The wife and I have therefore gone for the GIA instead.
  • LHZ
    LHZ Posts: 54 Forumite
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    Shedman wrote: »
    One of the things that concerned me about going for the ISA option on this offer is that the cashback is paid after 6th April next year and will be paid into the ISA account per the T&Cs... "If you have an ISA account and you have not yet used your ISA allowance then it will be paid into your ISA account"

    This would presumably be regarded as a subscription of funds to a 2019-20 ISA and hence would automatically mean that you have committed to Moola for the 2019-20 Stocks & Shares ISA by default - which of course may not have been something you intended?

    The wife and I have therefore gone for the GIA instead.
    Excellent point. I will contact them tomorrow and try to get them to switch it to GIA.
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