pap
New Member
Posts: 2
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Post by pap on Feb 14, 2017 21:37:42 GMT
Hi to all,
I am currently looking to invest some money in Twino but as i am newbie i will appreciate any advice on where to invest and how. Using auto invest or picking individually the loans? I will appreciate any feedback on your experience/returns using the platform.
Thanxs
PAP
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kulerucket
Member of DD Central
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Post by kulerucket on Feb 14, 2017 23:25:18 GMT
It's the easiest platform to get the hang of I've seen. Just put a small amount in any work it out. Really, it's not that hard. You can get better loans if you invest manually and log in a few times a day, but the autoinvest is fine if you just want to let it rip.
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Post by geoffrey on Feb 17, 2017 7:50:36 GMT
I'm relatively new on Twino (about 6 months). For most of the time it's been really easy to invest -- loads of available loans. However, over the last month it's been a lot slower to invest.
The only issue you might run into, if you're UK-based, is transferring money cheaply to Twino. If you are going to invest in Euros, you should open an account with Revolut and probably another account with PaySera which will give you a Euro IBAN account of your own (after you've verified your account). Revolut provide the interbank currency exchange rate for free (except at weekends, when you will pay a 0.5% contingency charge, so exchange sterling to Euro on a weekday). From Revolut you can send the Euros for free to your PaySera account. From PaySera you can send the Euros on to Twino for a €0,50 charge (if memory serves me), and Twino will see the Euro transfer as coming from an account in your own name.
Or wait, because Revolut say that they are bringing in personal IBANs for customers "soon", so in principle you'll then be able to send for free from Revolut to Twino and, if they've implemented it properly, the transfer should appear to be coming from an account in your own name. Currently transfers from Revolut appear to be coming from the Currency Cloud, and what's worse, Revolut don't currently transmit the user account details that Twino need to credit your transfer to your account, according to one user. I don't know if anyone else has verified this issue.
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Post by extremis on Feb 18, 2017 16:00:59 GMT
The only issue you might run into, if you're UK-based, is transferring money cheaply to Twino. If you are going to invest in Euros, you should open an account with Revolut and probably another account with PaySera which will give you a Euro IBAN account of your own (after you've verified your account). Revolut provide the interbank currency exchange rate for free (except at weekends, when you will pay a 0.5% contingency charge, so exchange sterling to Euro on a weekday). From Revolut you can send the Euros for free to your PaySera account. From PaySera you can send the Euros on to Twino for a €0,50 charge (if memory serves me), and Twino will see the Euro transfer as coming from an account in your own name. Is Paysera safe to use? I have seen some terrible reviews on Trustpilot: www.trustpilot.com/review/www.paysera.comThey advertise a 0.2EUR fee for outgoing transfers. Also, are you sure Twino accepts money sent from a Paysera IBAN account? I asked Investly about this some time ago and they replied they are not sure they can accept money from Paysera even if a personal IBAN is used (they recommended a normal bank wire transfer).
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Post by Deleted on Feb 19, 2017 0:21:54 GMT
I personally use TSB to transfer money to Twino. I converted my account to a GBP account. You can email them about it and they should be able to do it for you too. Don't want to take currency risk with Brexit looming around.
TSB charges around £10 to transfer to them in GBP. Usually is same day transfer.
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pap
New Member
Posts: 2
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Post by pap on Feb 19, 2017 9:39:22 GMT
thanxs for the replies. i have both a uk account and eur account so i may start investing in euros. what are the average returns and how easy is to withdraw funds?
thanxs
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Post by geoffrey on Feb 19, 2017 10:18:03 GMT
Is Paysera safe to use? I have seen some terrible reviews on Trustpilot: www.trustpilot.com/review/www.paysera.comThey advertise a 0.2EUR fee for outgoing transfers. Also, are you sure Twino accepts money sent from a Paysera IBAN account? I asked Investly about this some time ago and they replied they are not sure they can accept money from Paysera even if a personal IBAN is used (they recommended a normal bank wire transfer). If you look at those reviews, you'll see they appear to be from people who a) refused to do the full identity check to be able to receive third-party funds via your own IBAN (I wonder why someone thinks they can set up a bank account without ID?); or b) had opened a Paysera account to receive funds from premium phone number scams, etc., and complained when Paysera responsibly shut down the account and returned the scammed funds. I would read those reviews, and the Paysera responses, as proof that they are NOT a dodgy organization and are acting responsibly with regard to ensuring their accounts are not used for money laundering. When you open a Paysera account and fully verify the account, you have effectively opened a bank account with many normal bank account services. This is ideal for anyone who needs to undertake transactions in Euro. Regarding the transfer fee for transfers, e.g., from Paysera to Twino in Euro, via SEPA, the fees are here: www.paysera.com/v2/en-GB/fees/euro-transfers . You can see there that the standard fee is €0.15, but that private clients (i.e. non-business) get 30 free transfers via SEPA per month. Now I'm afraid I can't say if Twino accept Paysera transfers for the initial account verification procedure, because I verified my account with a different bank account, before I had come across Paysera. If you want to operate your account in GBP, then there is no advantage I can see to using Paysera. In that case make the initial transfer to Twino from TSB, Lloyds, HSBC, etc., and then use Revolut for all subsequent transfers (if they've sorted out the problem with the Twino reference not being transmitted with the payment).
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Post by loontik on Mar 4, 2017 19:17:42 GMT
Twino is probably the most easiest platform you can start with especially when using Auto-invest function. Its practically hands free. Set it, forget it (of course be sure to go through the daily statements).
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stevio
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Post by stevio on Mar 23, 2017 21:42:53 GMT
I personally use TSB to transfer money to Twino. I converted my account to a GBP account. You can email them about it and they should be able to do it for you too. Don't want to take currency risk with Brexit looming around. TSB charges around £10 to transfer to them in GBP. Usually is same day transfer. I'm obviously missing something, why is there a cost to sending £ to a £ account? As the OP, I would also be interested in the returns seen on this platform?
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Post by Deleted on Mar 23, 2017 22:46:53 GMT
I personally use TSB to transfer money to Twino. I converted my account to a GBP account. You can email them about it and they should be able to do it for you too. Don't want to take currency risk with Brexit looming around. TSB charges around £10 to transfer to them in GBP. Usually is same day transfer. I'm obviously missing something, why is there a cost to sending £ to a £ account? As the OP, I would also be interested in the returns seen on this platform? Twino's GBP (and Euro) account is in Latvia. Transferring £ to non U.K. Country is reason why bank charges :/
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Post by geoffrey on Mar 28, 2017 7:48:33 GMT
Does anyone know of Twino are able to accept payments in GBP sent from Revolut now? There was an issue before with Revolut not transmitting the sender's Twino account details in the reference field, but that may have changed. Transfers from Revolut are free in any currency.
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Post by Deleted on Mar 28, 2017 9:57:54 GMT
I didn't try Revolut for Twino. I did try it for Robocash and they sent the payment back.
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JamesFrance
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Port Grimaud 1974
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Post by JamesFrance on Mar 28, 2017 16:02:52 GMT
If even my French bank will send euros to any EU country with no charge using SEPA, I don"t see why a UK bank cannot do the same with pounds.
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r1200gs
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Post by r1200gs on Mar 28, 2017 21:54:04 GMT
If even my French bank will send euros to any EU country with no charge using SEPA, I don"t see why a UK bank cannot do the same with pounds. The UK bank can do what it likes when it comes to Pound transfers, simple as that. Why would they do it for free when they don't have to? Your French bank has to send Euro to any EU country at the local rate because that is EU regulation, not because they are particularly generous.
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Post by nesako on Mar 29, 2017 8:33:16 GMT
UK Banks are still one of the most generous in Europe. All other bank accounts I have in EU charge annual fees to just have an account which pays 0% interest and I also pay 30 euro cents for any transfer, even internal, and some also charge 30 euro cents to get money from another bank as incoming charge. In general, they charge for anything there is to charge...
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