🙋🏾‍♂️Your Top 5 Questions in May – Answered!

Bondora

Hi there, I’m Temiloluwa from Bondora’s Investor Relations team. Every month, we round up all the most-asked questions we received from investors in one blog post. You can find all the answers to these top questions right here. It’s just another way we provide first-class customer service.

Let’s go through the top 5 questions we received from our investors in May:

Temiloluwa joined Bondora in 2016 as part of the Investor Relations team. Now he leads this group of dedicated Associates.
Temiloluwa joined Bondora in 2016 as part of the Investor Relations team. Now he leads this group of dedicated Associates.

1. Go & Grow: “I calculated the daily return for my Go & Grow account, which is more than what I am currently receiving from Bondora. Why is that?”

Even though you receive a daily payout, the Go & Grow return rate of up to 6.75%* p.a. is calculated using an annual compounding frequency. You may be using the incorrect formula if your calculated return amount doesn’t match what you are earning.

2. Account verification: “What is a source of funds request?”

The source of funds request is a formal way of asking for documents to prove how you obtained the money to make investment payments to Bondora. For example, this could be your salary, a property sale, or inheritance. Not all investors need to complete the request, as it is based on the total amount deposited within the calendar year. Source of funds requests are necessary to comply with the EU AML regulations.

3. Wallet: “Does money in the Wallet earn a return?”

No, the Wallet holds money available that is not invested. To start earning a return, you must first transfer the money to Go & Grow or Go & Grow Unlimited. Alternatively, the money can be invested if Portfolio Manager or Portfolio Pro is activated.

You can find more information about our products here.

4. Go & Grow Unlimited: “I want to transfer money from Go & Grow Unlimited to Go & Grow. Is there a withdrawal fee for this transaction?”

There is a €1 fee for each withdrawal from Go & Grow Unlimited. However, we have some exciting developments planned in the near future that will make managing both Go & Grow Unlimited and Go & Grow accounts even more effortless. Stay tuned!

5. Bank verification: “Will Bondora verify a personal bank account with an electronic money service such as Wise or Revolut?”

If you reside within the EEA and are a resident or citizen, we will verify a personal bank account within an electronic money service.

Learn more about how to verify your bank account here.

And that’s it for this month! We hope we’ve answered all your questions. If you have other Bondora queries, you can easily find the answers on our online support site.