I withdrew the $400 'market return' profit I had made on my $20,000 as I suddenly needed extra cash. Because of this generous profit I then transferred all my savings to Raiz - $70,000. The first problem was that I noticed the withdrawal amount from my bank account was different to the 'invested amount' in my Raiz account by about $400. Where had that gone? I immediately emailed them and of course had to wait two weeks to hear back. In that time, they increased my 'invested amount' by about $400. Then gold prices dropped and the market became volatile and now I am missing about $800 all up. Just poof, gone, vanished and I know the market is a risk but today they have emailed me to say "please send screenshots of both accounts as proof", which of course is impossible because all that happened two week ago and who would dream you would have to produce a screenshot for them to listen and do something about it. I am now closing my account with them.
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Raiz automatically invests your spare change. Our mobile-first investment platform enables commission free investing, portfolio management with automatic rebalancing and dividend reinvestment, and real-time account monitoring.