In the month of February, we focused mainly on our newly simplified withdrawal process and the use of Transferwise for deposits and withdrawals. Check out more details below.
Top p2p lending tips for new investors
If you are new to p2p lending and you are wondering what it is, it’s simply a system that matches borrowers to investors who want to lend and earn more on their money.
Tips: Here are some help tips to get you started
Research p2p lending: Firstly, look for platforms with solid track record like Bondora that has been in the market for over 10 years.
Understand the risk involved: Secondly, It’s important to fully understand the associated risks of investing with p2p lending because this will guide you in building a good investment strategy for yourself.
Take advantage of p2p automation: And lastly, we recommend taking advantage of automated investment options like the Go & Grow, Portfolio Pro and Portfolio Manager in Bondora. This way you can still get p2p lending experience while letting the platform do most of the work for you.
3-step withdrawal process
First, click the withdraw tab on your main menu and select Payment type which can be VISA, SEPA, Transferwise or Bondora
In Step 2, choose from which of your Bondora account you want to withdraw from, for example, your main Bondora account or your Go & Grow accounts.
And in step 3, select which bank account you want to withdraw to and the amount, then click the confirm button. It’s that easy!
How to make a correct Transferwise withdrawal
If you have a non-Euro bank account registered on your Bondora profile and you want to make withdrawals, the Transferwise option is for you.
From the Withdraw page, select the Transferwise option in step 1, choose the account you want to withdraw from in step 2, and most importantly in step 3 enter the amount you want to withdraw and select the currency that matches the currency of your bank account. Then click the confirm button to finish up, and you’re done!
When to use Transferwise for withdrawals from Bondora
Transferwise withdrawal option is aimed for Bondora users who have a non-euro bank account to help them easily complete their cross-currency transactions.
Please keep in mind that Transferwise doesn’t support EUR to EUR transfers, so in case you have a euro bank account, the SEPA withdrawal option is the right option for you. For your transaction within the Eurozone, simply choose the SEPA option in Step 1 of the withdrawal process and proceed with the next two steps to complete your withdrawal.
Adding money to Bondora account – outside Eurozone
Do you have a non-euro bank account and you’re worried about the high transfer charges? Well, you need not. Here’s a tip that might help you save money.
If TransferWise operates in your country, you can use it for your cross-currency transactions to help to save money on currency conversion costs. Another option is to set up TransferWise Borderless account which allows you to make transfers to your Bondora account usually at considerably lower charges than via an international bank transfer.
Once you send money via a service like TransferWise, please remember to provide us a screenshot of your bank details page, so we can verify them for your withdrawals. And don’t hesitate to contact our support if you have any questions – our team is happy to assist.