Flender Reviews 47

The company is now gone and they won't refund the money.
Does anyone know if there is an official idependent european organizations who addresses complaints and mediates disputes between individuals and organizations on peer-to-peer lending?
Is anyone thinking of organizing a class action lawsuit at the European level?

Mr. MF - Italy

No communications from Flender now CEO is terminated as of 21/09/2023 which I found on companies House in UK. Recent CFO also left after less than a year, that's the 4th CFO in less 3 years. Also onto their 4th chairman in less 3 years and looking for 3rd head of credit in 2 years. No one answers phone or emails, no collections of debts, loans given to some companies that should never been funded.

Excellent company..been 7 years with them...only draw back is time it takes for with drawers. I advise potential lenders to be realistic...nothing can be guaranteed...l have lost money but also gained far more than l lost .l also like the way they treat borrowers by giving them time to repay.

My withdrawal has been blocked for two weeks, when I asked for explanations I was told that they are processing it but to date I still have not received anything. Something has obviously changed in this company, they are no longer as reliable as I initially thought them. The imposition and immediate removal of the retroactive withdrawal fee demonstrates lack of seriousness. If they don't change their attitude immediately, I will only give negative publicity to this company and advise against investing in it.

I withdrew the funds available on 1st Sept and to date nothing has been received on my bank account. It should be illegal for.them.to keep.the funds.

Fraud

Flender is not responding to phone calls or e-mails and withholding access to your own funds.

Complaint submitted to The Financial Services and Pensions Ombudsman

Flender would want to sort responding to customer complaints fairly lively! Absolute robbery of a new fee introduced and it is not like you can opt to stop using the service because the money is locked down. Their new fee EXCEEDS my monthly profit and so I am going to be PAYING them to hold on to the remainder of my money which will take 3 years to get out. That's €12.5 x 12 months x 3 years = €450 for Flender and all my returns gone. Thieves. The fee should only apply to accounts making huge returns because you are just hurting the small investor. Everyone keep up the negative reviews and they might get their act together and realise this policy makes no sense.

Introduced a 12.5 monthly fee overnight. Not worth investing now. No response from customer service when contacted

Flender have introduced a €12.50 monthly fee. This is totally outrageous and unacceptable. It makes my participation on this platform totally uneconomic. I will try and wind down my participation as soon as I possibly can. Judging from all the negative reviews I am not alone in this. The introduction of this fee will I am sure cause a huge number of investors to leave the platform and I would have doubts about its financial viability going forward. I would urge Flender to reconsider this decision in the interests of the company and lenders. If a fee is to be introduced it should be related to the returns or the amount invested. This is the case with Linked Finance which is another company operating in this space. It is not too late for Flender to admit they made an honest mistake and to rectify it before it is too late.

Call The Police!

At zero notice they imposed a monthly fee of €12,50 and processed it immediately as a 'withdrawal' which means that funds cannot now be withdrawn as only 1 withdrawal permitted per month.

I've checked and notice that holding company NKK Finance Ltd is no longer FCA regulated.

I've emailed to complain - no reply.
I've phoned to complain - 'unbranded' voicemail.

I've reported them to the Central Bank of Ireland via this link and suggest affected investors do likewise. I followed 'Central Bank of Ireland - how to report an unauthorised firm'

Quite clearly this company has now gone 'rogue'.
Do NOT invest and if you can get your money out then do so asap.

Have implemented a monthly fee with no warning have advertised that it applies no fees to lenders. Can not withdraw from my account. Do not invest with this company

Someone in Ireland please warn a regulator or the police about the theft crimes this company is committing since today a few hours ago

Been with them for years, they seemed ok in the beginning, but are terrible- started having huge loses on my investments, companies paying late as well and not being chased, and to top it off they just announced the new monthly fees with hours notice, meaning I’m not able to withdraw any money, as they only allow one withdrawal a month.
Tried to call customer service to see what will happen to the rest of my investments, but to no avail. Losing money left and right and they don’t even bother to answer.
An absolute joke of a company, wouldn’t recommend!

SCAM ALERT SCAM ALERT
An absolute scam of a place, given 2 hours notice in an email about a new monthly fee and then withdrawing the money,
Cant process money withdrawals then because they used up the monthly request to get the money themselves
Absolute SCAM. Stay away from them. Their details are all over the place, has anyone any details about this situation?
Update on 15 September
They automatically lodged my withdrawal back in my flender account instead of my bank, another scam misuse of funds surely someone in the central knows this is happening and is illegal. Stay away they are a SCAM

Sudden fee that applies retroactively for existing investments. Unles you invest a very large monthly sume your gains will be eaten away by this fee. Basically we're lending money for free on their platform. We take all the risk and they take the money.

Added a €12.50 monthly charge and blocked withdrawals. Stay clear.

I believe this suddenly introducing of a monthly fee without the possibility to opt out is illegal. I wonder what they will do if there are not enough funds in anyone's account

The Company is charging 12,5€ per month without any prior communication.
As Investor your are not only running the risk to lose your investment, now in Addition you have to pay for having that risk. Funny. 12,5€ fees per month means that you have to invest at least 3k€ to get positive interests cashflow. crazy.

€12.50 lender fee added per month, no notice, an absolute disgrace.

If the reimbursement of an investment is delayed (and I'm talking about a delay of 8 month), you won't get any news or explanations from Flender. They just don't communicate. They will barely add a comment on the loan page saying they are currently working on a resolution but frankly... after 8 months, I consider my investment as lost. I can handle a loss but keeping the investors uninformed is a lack of professionalism.
But I've just received a mail from Flender (29.98.2023) : they are introducing a monthly platform fee of €12.50 starting this month (not next month or next year, no this month !). They could have implement a fee on all future investments but changing the conditions with such a short notice is a complete disrespect to their clients. A soon as the last loan is reimbursed, I'm out of that s...