Nutmeg Saving & Investment

set up a direct debit when I made the account. Wasn’t clear i was going to have to send them a printed copy of a signed form etc for this to be possible. When I saw the direct debit didn’t work, I attempted another one. Then saw I had to do the form etc, so did that. Spent ages on the help chat asking them to delete the SECOND direct debit. Now still, quite a while later my account is at £0. I can’t see any direct debits. I don’t know if I have the original one and it’s just not shown anywhere, or if the help desk just deleted everything. Going to have to get help again

Some features, like reading or replying to messages from the support team can’t be performed in app. Given how long this app has been out it really should be feature parity with the website now.

Opened two 5-figure investment pots with Nutmeg 2 1/2 years ago. As at today, one has returned 2.15% and the other absolutely nothing. I could have secured a LOT more money by simply sticking it in a building society account. Not impressed. The app itself is okay, the graphs showing returns over time are very useful and the app is generally easy to use. Would I recommend? Given the poor returns, absolutely not. Shame as I have my very considerable pension lump sum due shortly and I won’t be investing in Nutmeg.

The worst investment I hold, for over two years now my total is less than I paid in, I expect ups and downs but not downs consistently

Everything was going well until I needed to withdraw the money. It took them 3 weeks and immense nuisance. If I knew, I wouldn’t had put money here

Reasonable returns and fees aren't bad but the initial attraction was the simple interface. As with SO many companies who have bespoke apps, they feel the need to constantly update it (not bug fixes or any useful functionality improvements) just constant changing of the font or the colour and each time...it makes you log back in again with all your details and set a new passcode and type that in twice. I don't mind useful updates but having to log back in every time there's an update is a pain and the updates are mostly cosmetic (and the last two that updated functions made it even less user friendly)

App worked fine for a time now just authentication errors. None of their faqs work. All browsers. Customer support a low IQ bot. Taking fees works 100% of the time, authentication 0% of the time. Effective denial of service. Will be moving investment away as cannot access portfolio

Unfortunately the app has now had issues with easy bank transfer for months. I’m with nationwide and it’s been an ongoing issue for a few months on and off, but has been a constant issue for a good few weeks now. It’s a great way to put me off putting money in, but I’d rather nutmeg sort this out.

The two major issues where Nutmeg failed: - Poor returns, which were well below the market average. Over the 5 years I was invested with Nutmeg I lost money (due to inflation). My investment made 5% in 5 years… shocking! - Withdrawals took well over a month and the customer service team lied to me about updates. There was a period where no one even knew where my money was and there was a real lack of communication. I had to chase them and even when I did, they were unorganised and chaotic. Honestly, I can’t stress enough how awful my overall experience was with Nutmeg. Losing me a lot of time and money. Stay way clear of this terrible business.

Some basic things need updating, e.g. (1) projections explanatory narrative still mentions lifetime pension allowances and out of date contribution caps (both changed at start of 23/24 tax year). (2) Projections don’t allow changes to assumptions on contributions, they’re just based on direct debits, so miss out expected top up contributions. This should be something you can change. (3) projections chart on the main page and workings when you click for more details don’t make clear assumptions for calculation of lump sum or annuity. Lump sum definitely isn’t 25% of projected values shown of pension pot. (4) initial projection charts and the chart when you click for more detail don’t match and it’s not clear why. (5) a general failing, not an app one, it should not be the case that to make a one off payment it has to be done by direct debit - for an online platform I expect to be able to make direct and immediate payments (6) open banking links are unreliable