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Wellesley & Co: Peer to Peer Lending reviews

Name: Peer to Peer Lending
Rating: 3.67 (6 reviews)

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3.82

Based on 6 reviews, last reviewed 16th Jan 2020

No new 5 star reviews

in the past 90 days

No new 1 star reviews

in the past 90 days

49%

17%

3 star

17%

Latest highest rating:

5

Had a great experience with wellesly Quick and easy to invest and gain returns above what other standard current account offer. Withdrawals and prompt and within the time frame specified. Reviewed on: 23rd May 2016

Latest lowest rating:

1

Antiquated systems, very poor bad debt record Antiquated systems (ages before I was able to get monthly income directed to my bank account), very poor bad debt record (a largg slice of my 5yr inv... Read more Reviewed on: 16th January 2020

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About this product

Wellesley & Co peer lending reviews on Smart Money People help people like you thinking about what life is like as a Wellesley & Co customer to find this out. What is customer service like? Is the online experience quick and simple? You can find this out by reading our Wellesley & Co peer lending reviews. If you are a Wellesley & Co customer, you can also write your review today!

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Wellesley & Co Peer to Peer Lending reviews (6)

Antiquated systems, very poor bad debt record

Antiquated systems (ages before I was able to get monthly income directed to my bank account), very poor bad debt record (a largg slice of my 5yr investment is currently in default, so clearly not well enough spread), persistent emails trying to get me to invest more. I'm definitely glad I only put a toe in the water with them with a very small slice of my investment pot. Never again. Reviewed on: 16th January 2020

Had a great experience with wellesly

Quick and easy to invest and gain returns above what other standard current account offer. Withdrawals and prompt and within the time frame specified. Reviewed on: 23rd May 2016

Hard to get verified, bad interest rates, and open during banking hours only.

To be verified you will need to physically mail in official copies of banking statements, your ID, and other personal information with public notary stamps on it. If you do online statements you can not be verified here as those will not count. Without verification it is impossible to invest here. The interest rates are only so-so and the better long-term rates do not offer compound interest. On top of it all, the company is only available during banking hours! There are much better places for investing that are easier to work with, easier to use, and with better interest rates. Reviewed on: 15th April 2016

Trustworthy

I would recommend Wellesley & co to friends and family as they are trustworthy and seem to be well equipped to handle my queries. Reviewed on: 16th March 2016

Better interest rates for savers

The dismal interest rates available from banks made me turn to peer to peer lending, with a little trepidation. The whole process was very easy, all done online, sending the money from my bank and then choosing from a number of different interest rates and period for saving. I chose an 18 month savings rate and was very pleased when it recently matured. The return was avbout 3 times the best rate available from a cash isa. Yes there are risks but these are explained on the website. I would recommend it as an option for some of your savings. Reviewed on: 24th December 2015

Good rates on offer

As I'm approaching retirement I have a fair bit of cash in accounts that are not exactly seeing much of a return. So Ive been looking around and came across Wellesley. They seem to be one of the more established companies that are offering rates I haven't seen for my savings since the 90s so a welcomed addition to my financial providers. Reviewed on: 11th December 2015