Kairi joined Bondora nearly five years ago when there were fewer than ten people in the company. Starting as an assistant, Kairi has worked across several departments within Bondora and—as a result—knows the business inside and out. She’s now leading our Associates’ team and strives to give first-class customer service to all of our investors.

The top 5 questions from investors in October - Answered by Kairi

This is the third in a series of monthly posts, in which Kairi will answer questions received by her team each month. Here are the top 5 questions received from investors in October.

1. Yesterday I made a deposit to my Bondora account, but I can’t see it yet. Is everything fine with my payment?

Transactions can take anywhere from 1-3 business days to reach your Bondora account, depending on the speed of the bank(s). Rest assured, you’ll receive a notification as soon as the money arrives in your Bondora account.

If it has been longer than 3 business days and you still don’t see the money in your Bondora account, contact our support team at investor@bondora.com. Please provide your payment confirmation, so we can look into it for you right away and help to sort out the delay.

2. I’m new to Bondora and am curious as to what happens with loans that have missed their monthly payments—is that money lost?

Occasionally, a borrower defaults on their monthly payments. When this happens, Bondora takes care of collecting any debts that occur—so for non-performing loans, we use a simple 3-step collection process in order to claim back these debts.

We always aim to collect on all debts from the debtors, however, the speed can vary depending on the country where the loan was issued. Our debt process is continued until the amount agreed by the courts is recovered or—in rare cases when the loan is not recoverable—the claim is written-off.

For a detailed overview of the process, check out our Our 3-step Collection & Recovery Process.

3. What is the main difference between Go & Grow and the other products Bondora offers?

The fundamental difference between Go & Grow and our other products—Portfolio Manager or Portfolio Pro—is the liquidity.

Go & Grow is a popular choice if you’re looking for a simple service in which there’s no need to use a Secondary Market to gain fast access to your cash. This may prove more difficult with Portfolio Pro or Portfolio Manager, as you depend on the demand of other investors while liquidating your investments via the Secondary Market.

With Go & Grow, you don’t invest directly in specific loans but instead your money is distributed amongst claims within the Go & Grow portfolio, meaning we take care of the heavy lifting— and there’s no added hassle with selling. We go more into depth and you can learn more about Go & Grow with our detailed Go & Grow guide.

4. Do I need to pay taxes on my investments?

In general, the profits earned through Bondora are taxed based upon the gross income received, but it depends on the residency of the investor. Please check with your local tax authority to learn if, how, and when you need to report your various income sources and declare them in accordance with the law.

To make tax reporting easier for our investors, we have prepared a PDF Tax Report with the necessary information included. The report can be found on the Reports page on your Bondora account.

5. How do I identify my account in order to make a withdrawal?

You may already know that we ask all our customers to undergo an identification process, which is in accordance with the requirements of the AML Directive in the EU.

This simply means that—by the time you wish to make a withdrawal from your account—we need you to:

  • Provide a color copy of your ID document. This can be a clear smartphone photo of, for example, your ID card (both sides) or your passport ID pages.
  • Verify your personal bank account by making a regular (SEPA) bank transfer

It’s an easy one-time process: to identify your account, simply go to the “Withdrawal” section on your account and complete the missing steps.

In case you have any further questions, please feel free to contact us—our team is more than happy to assist you in any way. You can email us at investor@bondora.com or (during business hours, Mo-Fr: 9–17 EET) reach us by phone at +44 1568 6300 06.

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