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Post by emkayman on May 27, 2018 8:48:18 GMT
So around the end of 2016 I decided to try a small investment in Twino, as a test for one year.
At the end of 2017 I asked for all investments to be sold. Unfortunately the "automatic buy" operated and I inadvertently re-invested.
That would not have been too bad but, I found that I now had 13 pages of deferred and defaulted loans. Why did it buy them?
I cancelled the "Auto Buy" but, the site would not accept my instruction to sell the defaulted loans.
Although I had a stated £860+ Interest, I have not seen a penny of it, moreover after 5 months I have not even been able to recover my initial investment.
Am I alone?
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Post by southseacompany on May 28, 2018 4:23:35 GMT
That would not have been too bad but, I found that I now had 13 pages of deferred and defaulted loans. Why did it buy them? I cancelled the "Auto Buy" but, the site would not accept my instruction to sell the defaulted loans. Twino lets you choose whether auto-invest includes delayed and extended loans, so obviously that setting is the reason such loans were bought (although I'm not sure if this feature was there when you joined). What type of loans do you have: buyback guarantee, payment guarantee, or neither? It's awkward you got stuck with the loans, but it doesn't seem like Twino's fault if you've set up auto-invest and it has been executed as per your instructions.
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kulerucket
Member of DD Central
Posts: 336 
Likes: 93
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Post by kulerucket on May 29, 2018 8:14:48 GMT
So around the end of 2016 I decided to try a small investment in Twino, as a test for one year. At the end of 2017 I asked for all investments to be sold. Unfortunately the "automatic buy" operated and I inadvertently re-invested. That would not have been too bad but, I found that I now had 13 pages of deferred and defaulted loans. Why did it buy them? I cancelled the "Auto Buy" but, the site would not accept my instruction to sell the defaulted loans. Although I had a stated £860+ Interest, I have not seen a penny of it, moreover after 5 months I have not even been able to recover my initial investment. Am I alone? You can't buy or sell defaulted loans so you must have bought them before they defaulted. If you have bought ABC loans just about to default then you're in trouble, otherwise just learn from your mistake, sit it out, and get all of your money and interest back later than you wanted. As southseacompany said, you can't blame Twino for executing your instructions correctly.
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Post by patright on May 29, 2018 8:26:29 GMT
As part of a diversification strategy, Twino can make sense, personally I have made 12% lifetime and now it's 10 which is not too bad but not great either
However, no cash drag whatsoever on my end by setting it at 10%
As part of my overall portfolio, I kept only 5000 euros now at Twino (from a much larger amount previously)
Basically when I pick a platform for diversification, I only invest 5000 euros
Other platform and Mintos come to mind, I am in a much larger amount because
1- Great rates
2- Cash back campaing
3- the marketplace allows for diversification
That is NOT to say there are no risk from the platform itself etc etc but still, it's possible to put in a larger sum in my personal opionion
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kulerucket
Member of DD Central
Posts: 336
Likes: 93
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Post by kulerucket on May 29, 2018 8:40:45 GMT
As part of a diversification strategy, Twino can make sense, personally I have made 12% lifetime and now it's 10 which is not too bad but not great either However, no cash drag whatsoever on my end by setting it at 10% As part of my overall portfolio, I kept only 5000 euros now at Twino (from a much larger amount previously) Basically when I pick a platform for diversification, I only invest 5000 euros Other platform and Mintos come to mind, I am in a much larger amount because 1- Great rates 2- Cash back campaing 3- the marketplace allows for diversification That is NOT to say there are no risk from the platform itself etc etc but still, it's possible to put in a larger sum in my personal opionion The problem is, that there are a large number of alternative sites in the same asset class offering better rates. You can do quite a lot of diversification without needing Twino in the mix. Robo, Swaper, Peerberry, Mintos, ViaInvest and Viventor are all currently better than Twino IMO and these are just the personal loan platforms I have.
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Post by patright on May 29, 2018 8:46:17 GMT
As part of a diversification strategy, Twino can make sense, personally I have made 12% lifetime and now it's 10 which is not too bad but not great either However, no cash drag whatsoever on my end by setting it at 10% As part of my overall portfolio, I kept only 5000 euros now at Twino (from a much larger amount previously) Basically when I pick a platform for diversification, I only invest 5000 euros Other platform and Mintos come to mind, I am in a much larger amount because 1- Great rates 2- Cash back campaing 3- the marketplace allows for diversification That is NOT to say there are no risk from the platform itself etc etc but still, it's possible to put in a larger sum in my personal opionion The problem is, that there are a large number of alternative sites in the same asset class offering better rates. You can do quite a lot of diversification without needing Twino in the mix. Robo, Swaper, Peerberry, Mintos, ViaInvest and Viventor are all currently better than Twino IMO and these are just the personal loan platforms I have. Yeah you are right and at the same time, some of the platform you are referring too are new and with cash drag seems very hard joining recently to put a big amount in Robocash for exemple..my money is just sitting there bringing..well zero
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Post by emkayman on Jun 3, 2018 8:40:11 GMT
OK to say that you cannot sell or buy defaulted loans, so how did my auto buy suddenly produce 13 pages of defaulted or delayed loans, when it had only a fraction before?
I am a novice in this way of investment but am so glad I only invested a test amount. safer under the mattress I think!
Glad to inform that after 5 months I finally have my original investment back now, I will wait to see the pennies come rolling in to cover my £860+ posted interest.
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Post by captainconfident on Nov 20, 2019 18:35:49 GMT
Liked the title of this thread so I thought I'd ask this question here: What rates are people getting on Twino? I see that the only ones available for manual investment are 60 month, 8% loans.
Do the 10% and over loans appear frequently enough to be interesting? How long would it take to get 5k away at that rate in the current market?
Thanks for any opinions!
CC
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Post by kl on Nov 26, 2019 11:59:48 GMT
You can see the current interest rates here www.twino.eu/en/profile/investor/invest/available-investment-loans/interest-ratesThe volume listed by type is in the monthly account summary they email you. For October it was: Loans listed from 01.10.2019 to 01.11.2019 Short-Term Loans | BuyBack Guarantee Country Term Rate (%) Volume PL 1-2 10 €7,139,077 RU 1-2 10 €9,890,709 RU 1-2 14 *(CE) €2,140,011 KZ 1-2 12 €1,130,744 Installment Loans | Payment Guarantee Country Term Rate (%) Volume LV 3-12 8 €120,202 LV 13-60 8 €1,197,914 PL 3-12 10 €127,518 PL 13-60 10 €254,419 RU 1-2 10 €14,738 RU 3-12 10 €8,274 I only do short term loans. With on average over 500k€ per day 5k doesn't take very long. |
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Post by theitalianleathersof on Nov 29, 2019 17:43:48 GMT
Hi, i am really surprised to read such bad comments about Twino. It has been years that I use the platform and consistently gained more than 10%/year. if you want a more detailed opinion, I have wrote my review here: theitalianleathersofa.com/twino/ |
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Post by captainconfident on Nov 30, 2019 15:37:18 GMT
OK, so what am I doing wrong? I've had an auto bidder on for a week which has hooked nothing. 10% min interest, BB guarantee, no currency exp, all loan types, portfolio size set to 1000, 40 per loan, several countries chosen. The other parameter is 1-12 months, as I don't want to live with Twino forever.
I see the daily email where they say for instance 250k of 10% Polish loans most days of the week.. What am I doing wrong? Are they all over 12 months? Or are the loans simply not being allocated to me?
Edit
Finally, today it bought bits of 10x 1 month Polish loans. Still quite a long way to go but a sign of life at least.
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Post by kl on Dec 3, 2019 18:36:43 GMT
New loans are indeed harder to get. Cash is building up  |
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dme
Posts: 10
Likes: 2
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Post by dme on Dec 5, 2019 8:33:40 GMT
OK, so what am I doing wrong? I've had an auto bidder on for a week which has hooked nothing. 10% min interest, BB guarantee, no currency exp, all loan types, portfolio size set to 1000, 40 per loan, several countries chosen. The other parameter is 1-12 months, as I don't want to live with Twino forever. I see the daily email where they say for instance 250k of 10% Polish loans most days of the week.. What am I doing wrong? Are they all over 12 months? Or are the loans simply not being allocated to me? Edit Finally, today it bought bits of 10x 1 month Polish loans. Still quite a long way to go but a sign of life at least. Hi! It happens to me the same. One Twino lifehack I use when the cash is piling up is to go just after the midnight (CET) to the platform and to search for the loans manually and normally I am able to invest all the pending amount (looks like it is the time they release some new loans). IMHO there is something wrong with their autoinvest.
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Post by captainconfident on Dec 5, 2019 10:05:49 GMT
Thanks dme, very generous of you to have shared that tip. I'm stuck at about 40% invested after 10 days or so. I was wondering if those figures at the bottom of the daily email about new loans were even real. Much as I would like to invest with Twino, making a special effort after midnight to find loans very much contrasts to the fire and forget of Viainvest and Peerberry, to name but two. I'm going to be pulling out of this platform after these 1 month loans end. Shame. I made thousands in interest from Twino back in the day when it used to work smoothly. |
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Post by captainconfident on Nov 19, 2020 19:56:01 GMT
I should update that after my initial moaning, Twino has been fine this year. There has been no cash drag at all and I'd put it right up there with the other 'fire and forget' Baltic fin-tech platforms.
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