Review Time
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.
I opened a SIPP and investment ISA with Prosper in August 2025. I had done some research on 'hands off' (passive) investing and my main takeaway was "costs matter"! So given that Prosper charge no platform fees on these products and even refund the fund costs on selected mutual funds/ETF's (at the time of opening), it seemed like a no brainer to me ... especially considering the majority positive reviews I read before diving in. The account opening, money transfer and investment purchase were all very easy and went through without any issues! and even the SIPP tax relief 'only' took 11 weeks to come through from the tax man ... you do have to go in and invest this manuallly. The platform was quite new, but I liked the company ethos of making investing more accessible and a lot less costly and the people behind it do have some track record (Monzo), so all in all I was happy to add it to my portfolio this year.
I've recently transferred my pensions from a legacy provider to Prosper and am very happy to have done so. Its mission to reduce the impact of platform fees for savers is commendable and in stark contrast to much of the wealth management industry. The platform is intuitive, low cost and when needed, the customer support team responds far quicker than the weeks-long lead time from my old legacy provider. Looking forward to seeing where the team takes the platform and pleased to be on that journey. Many thanks!
I’ve been using Prosper for my SIPP and I’m genuinely impressed with how user-friendly and transparent the platform is. One standout feature for me is how clearly they display the fees associated with ETFs. This makes it so much easier to compare options and make informed decisions about where to invest.The interface is clean, and the fund selection process feels straightforward – no hidden charges or confusing fine print. It’s a refreshing change compared to some of the more traditional providers I’ve used in the past.Overall, a solid platform for anyone looking to manage their pension with more control and clarity.
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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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