Ace
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Post by Ace on Oct 24, 2019 12:59:59 GMT
I'm new to Kuflink so sorry if this question has been asked elsewhere. If I lend through an IFISA I have no control over which loans I invest in and am locked in. Isn't there an incentive for K to dump their hard-to-shift or less secure loans in it? You missed out that you also get a lower rate for the privilege. For all of those reasons, I only invest in self select loans through K.
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qwakuk
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Post by qwakuk on Apr 29, 2020 10:52:51 GMT
Resurrecting an old thread, hopefully Kuflink rep will see this kuflinkInvested Jan 2019 into the IFISA and checking today shows the original balance and then active interest paid, no option to withdraw or anything. Looking for confirmation it has been reinvested in new loans and effectively end up with compound interest at the end of 5 years assuming no defaults ? |
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Ace
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Post by Ace on Apr 29, 2020 11:19:29 GMT
Information provided by Kuflink on the state of one's investments in their auto-invest accounts is very poor to nonexistent IMO.
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qwakuk
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Post by qwakuk on Apr 29, 2020 11:23:03 GMT
Information provided by Kuflink on the state of one's investments in their auto-invest accounts is very poor to nonexistent IMO. Totally agree, hence the question Slightly concerned as back in January around the time of the first anniversary I was getting emails to say what I wanted to do with the matured money as the system seemed to think I was invested in the one year account ! They told me they had sorted it, so remembered to check today (only 3 months late on my part). If i do not get a response on here, will contact support
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Post by uksoul on Apr 29, 2020 12:17:51 GMT
Information provided by Kuflink on the state of one's investments in their auto-invest accounts is very poor to nonexistent IMO. Totally agree, hence the question Slightly concerned as back in January around the time of the first anniversary I was getting emails to say what I wanted to do with the matured money as the system seemed to think I was invested in the one year account ! They told me they had sorted it, so remembered to check today (only 3 months late on my part). If i do not get a response on here, will contact support Don't expect a quick reply here. They are overwhelmed with enquires at the moment and operating on a very limited staff. Received a reply yesterday from an enquiry sent to support 2 weeks ago.
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jcb208
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Post by jcb208 on Apr 29, 2020 14:34:20 GMT
Had the same problem after my 1 year ISA matured it just sat for 2 weeks in my account after several times of asking it was eventually reinvested.
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qwakuk
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Post by qwakuk on Apr 29, 2020 15:43:05 GMT
Have sent an email, will see how long it takes to get a reply
I looked at the FAQs whilst I was in the site and it mentions the interest gets added to the Wallet (certainly not happened to my knowledge) and a statement provided annually (again not happened).
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Post by elephantrosie on Jul 16, 2020 18:19:15 GMT
reasking the same question I posted last year.
Is kuflink only allowing its IFISA to be auto-invested, rather than select invest?
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Ace
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Post by Ace on Jul 16, 2020 21:39:28 GMT
reasking the same question I posted last year.
Is kuflink only allowing its IFISA to be auto-invested, rather than select invest? Yes.
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Post by jono75 on Apr 2, 2021 11:08:46 GMT
Happy Easter good people, I know it's my own fault for leaving things so late due to deliberating on whether to open an ISA with Kuflink. I decided to bite the bullet then realised that it's a long bank holiday and the last day of the tax year on Monday.
If I open an account now, assuming I can verified at the moment, would I get the money into the account in time. I don't wait to use next years IFISA allowance yet by accident. I wonder if the money would just go into the wallet and then I could transfer it back if it's too late? I believe you can use faster payments to transfer to your account and it may take a day to show up according to the info on the website, so I think it should be possible to do it.
Can't seem to get anyone at Kuflink at the moment.
Thanks very much :-)
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dave4
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Cynical is a hobby not a lifestyle
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Post by dave4 on Apr 2, 2021 11:46:07 GMT
Debit card is almost instant into wallet whatever day it is. usually have to refresh page, or log out/in. Not got a isa account so this my experience is only standard.
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Post by jono75 on Apr 2, 2021 15:53:24 GMT
Thank you, I'm registered now, some things not too obvious on the website but getting there now and can transfer in. They were helpful on the chat (I realised it wasn't just a bot eventually).
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dave4
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Cynical is a hobby not a lifestyle
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Post by dave4 on Apr 2, 2021 19:12:33 GMT
They have always been helpful with me, chat link (9 to 5 ish,office hours) , e mail (usually next day), and apparently via phone tho not had the pleasure yet.
Website is a little bit different (simple / basic ?) but it is all there, just need looking for (i just ask on chat and they point me the way).
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Post by overthehill on Aug 29, 2021 11:49:37 GMT
"You can also Transfer your current Cash ISA, Stock & Shares ISA, Lifetime ISA or IF-ISA, earning up to 7% gross per annum.*"
Kuflink, you should make this statement much clearer in your marketing. The asterisk should point to more meaningful text like...
o You can only transfer in new money which has been invested in the current tax year. o You can't transfer in new money from a cash, stocks & shares or Lifetime ISA if you have already added money to another IFISA in the current tax year.
For people who do open the IFISA only to find out they can't fund it in the way they intended, don't worry just leave it empty, you can open as many IFISAs as you like in a tax year as long as you only put new funds into one.
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corto
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one-syllabistic
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Post by corto on Aug 29, 2021 15:41:20 GMT
"You can also Transfer your current Cash ISA, Stock & Shares ISA, Lifetime ISA or IF-ISA, earning up to 7% gross per annum.*"
Kuflink, you should make this statement much clearer in your marketing. The asterisk should point to more meaningful text like...
o You can only transfer in new money which has been invested in the current tax year. o You can't transfer in new money from a cash, stocks & shares or Lifetime ISA if you have already added money to another IFISA in the current tax year.
For people who do open the IFISA only to find out they can't fund it in the way they intended, don't worry just leave it empty, you can open as many IFISAs as you like in a tax year as long as you only put new funds into one.
Not sure what needs clarification. There is nothing special with KL's ISA? If you download their transfer form it shows that you can transfer this or previous year's money, as well as part of it. The rules that you can only fund a single IFISA per tax year with new money and have to transfer it all if you do, are the tax-man's, not theirs. That holds for all types of ISAs. Also: This is a tautology: "You can only transfer in new money which has been invested in the current tax year." -- What you pay in in the current tax year is by definition "new" money. It would not make sense to turn "old" money from previous years into "new" subscriptions? That would effectively limit your ISA allowance. You can transfer old money into a new account anyway without restrictions. I had several "new" ISAs over the years that have never seen any new money, only transfers in. The second claim you make is not entirely correct. You can transfer all the money from the "other" this-years account to a new IFISA and then add more new money from other ISAs or by cash to that new IFISA; you just always have to transfer all "this-year's money" regardless of ISA type if you transfer new money. If you tried to add new money to two IFISAs that is indeed not allowed. Usually one can avoid this by shifting funds around. If you have an old S&S ISA or cash ISA you could move previous years money from there into a new IFISA and refill the S&S ISA with fresh money. This works because you can pay fresh money into different types of ISAs, but only into one per type. That way you could keep your money in the IFISA that you already paid into and also get the second one filled. Something else: KL do accept forms emailed in, which would make a transfer easy. More and more sites allow this now. Last year several still insisted on an original signature by snail mail. I had a fully electronic transfer from AC to PL last week that cleared in less than 24 hours. That was after having a paper-based one hanging with iWeb that did not finish within 4 months for various mistakes, regardless of several communications with their support team.
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