I have used Prosper to open a saving accounts and it is fine for that. The only problem is that once you decide to withdraw your money and stop using the particular account (Oak North in my case) they are unable to close it. Hard to believe, but this is the response I have received from them:"Thank you for reaching out. At the moment, we don’t have a way to fully remove or “close” a savings product"You then continue to receive messages about interest rate changes for the account that you no longer use and don't want any more. I asked for this to be stopped. Below is my message the their response:Me:"So just to be clear. What you are saying is that once I have opened an account with prosper the account can never be closed and you are also not able to stop me receiving emails about future interest rate rises for an account that I don’t use and don’t want?"Response:"Thank you for your message, and I completely understand your frustration. We’re currently working on improving the ability to stop specific product-related email updates like interest rate changes, without turning off all communications. Unfortunately, that feature isn’t quite in place yet. We’re really sorry for the inconvenience, and we’re actively exploring ways to make things more flexible and tailored in the near future."I can't believe that they actually won't let you close an account and unsubscribe you from emails, but I have hit a brick wall with their online chat. It's been somewhat frustrating experience dealing with these guys. Maybe if they pay attention to reviews, someone will sort this out.
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Prosper was founded to bring More for You by maximising our members’ potential wealth. We provide pensions, investments (both public and private) and savings accounts that have clear charges.
And we keep them low.
With Prosper’s flexible Stocks and Shares ISA, you get:
No platform or transfer fees
Refunded fund fees on over 30 top ETFs (BlackRock, Vanguard and more)
Real human support when you need it
Our pensions (Self Invested Pension Plans) are also free to open and free to fund.
We charge no platform or transfer fees to move your existing pensions or ISAs to Prosper.
We have market beating cash savings rates on fixed, easy access and notice accounts and again, we take the absolute least possible interest for ourselves that we can so that we can pass on as much value to you as possible.
Recently we have brought our members private markets funds and we intend to much more in the app to bring private markets to our sophisticated investors with a simple interface.
Our members benefit from zero fee access on 30 index funds from the world's leading asset managers, zero platform fees and zero transaction fees. In the future, we will charge members a fair platform fee and low, fair and transparent fees for any other investment products we think represent great value.
Prosper founder and CEO Nick Perrett and Chairman Ricky Knox have previously worked together building Tandem Bank. The company is backed by the founders of Monzo, Capital One and Admiral and other leaders in financial services.
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