IMHO: eSuperfund is useless
We were unable to login into e-super to access our superannuation information, despite being with them for over 7 years. There is no phone number to call, so we spoke with the auditors of esuper (a different firm in Melbourne). We have recently found several reviews where others have not been able to find phone numbers either. Suddenly, after contacting the Victorian auditors of this organisation (which we found via an ASIC search), we received contact from a Customer Service Manager, advising he cancelled our account. This came via email - sti...ll no phone number and he still has not given access to ensure they have provided complete materials. In my honest opinion, the people involved are shonky business people and e-super should be banned from offering such services, because the inability for customers to contact them by phone (and lack of response to emails) does not demonstrate professional services. In my opinion, operators of this business should lose his/her licenses to operate. In my opinion, they fact the business claims that they are skilled in customer service are at best, deceptive, at worst, evidence of a [Content Removed].
- Verified customer
Been a client for a number of years. The service was fairly reasonable at the start.
It gradually deteriorates over time. Now it becomes increasingly cumbersome to deal with them. For 2019 compliance work, I provided all the information in the format esuperfund required with all supporting documents. Now it basically asks for the same information in a different way. The annual tax return cannot progress with these 'incomplete' items which esuperfund clearly has all the relevant information.
Stop mucking around. By the way, with double digits ...increase in price every year, it will soon (if not already) price you out of the competition for the sub-par service . Be careful what you wish for. For me, I'm starting to look for alternatives. Bottom line: I am looking for an administrator that lessen the burden of compliance, tax return from me so I can focus on managing my SMSF. Now esuperfund is increasing my burden.
- Verified customer
Deceitful behaviour and misleading advertising
This company wanted to unilaterally increase our annual fees leading up to our complaint to the AFCA. In my view, their customer service is absolutely pathetic and their management of complaints is appalling. This is a recurrent issue as Esuperfund Pty Ltd has paid $30,600 in penalties after ASIC issued three infringement notices for false or misleading online advertising. Each infringement notice imposed a penalty of $10,200. The advertisements related to Esuperfund's business of providing self-managed superannuation fund (SMSF) establishment and administration services online to clients. Each advertisement ran between 31 January 2014 and 8 May 2014.
Site is not working the same.
Been with them since 2017. Was working fine until this year.
Cannot update my banking or coding.
My property disappeared for months and it took two complaints to have it reappear.
If I cannot update my financial information I will be leaving them. Anyone have a good alternative?
October 2nd 2019 Update: Service poor with E super will be leaving because of changes they have made.
Have complained since August. They have not resolved issue. They ask you to tell them when it is good to call and don’t call at the time you give them. Mark Needham ...then calls and does not leave a number to contact him on. Very poor service and my account is no longer accurate. They have stopped you being able to update and code your information in a timely manner. I will find an alternative to take do audit and other compliance for tax etc.
Canceling our application based on a scenario question !
super aggressive and bad customer services.
we asked questions based on a scenario that might happen in the future.
and they cancelled our fund registration application from their end and without even asking for our confirmation!!!
What a service!!!
- Verified customer
Look Around For Another SMSF Agent
I have been with esuperfund for many years.
I have always found them to be very impersonal. When you do ask them a question they give you a prepared answer. Many times I have had to ask the same question over and over until I received a proper response.
They have limited scope of products they allow.
Am currently waiting for more than 3 months for my return to be prepared for last year after providing all the info they requested.
You can do better.
No support at all
This company provides no support at all. Ring their number as if you're an existing customer and try to get through if you don't believe me.
Absolutely Useless and Zero Customer Support
Use these guys at your own peril.
They are cheaper than the others for a reason. No Support And No Care!!
If your return has any issues beyond what their tax clerks can handle they will simply axe you as a client and remove your usage from their platform to prevent you from asking anymore questions (which by the way is the only way you can communicate with these people as they have no access to any phone support whatsoever).
Do yourself a favor, Use Somebody Else!!
Don't trust these guys with your accounts.
Removing as a Client has Consequences
As widely experienced and reported, clients who don’t conform to eSuper’s accounts, investment criteria or schedule requirements will be dropped as a client without prejudice or confirmation. That’s fine. It happened to me but was deserved although I discovered a number of elapsed FY later. What is very important to note and be aware is that once eSuper cease serving you they do not automatically cancel the data feed access to your accounts ie ANZ V2 or CommSec. They do not also inform the status or follow ups after end of engagement. Therefor...e you have to manually request the account providers to cancel eSuper access. Also eSuper will not disclose if they continued access after ceasing the relationship and which third parties received your data. Something to keep in mind.
No support, terrible administration
We are giving esuper the flick. Would not recommend. You have to scan and upload documents online every year for tax purposes, which we did. They emailed (they don't do phone calls!!!) that one form was missing so we scanned and uploaded it. Then they said the three that we first scanned were missing. So we uploaded all 4 together. Then we get a warning email because we haven't uploaded the forms! So annoying. Then we call to sort it out and the phone message says email us. I hate not being able to have access to someone to talk to. If you are ...looking around, check with your bank. I'm going to Commonwealth today to see if they provide that service because all our super is with them anyway, esuper just provides the administration/compliance at tax time.
Does anyone work there?? - it`s impossible to speak to a human!
I am a member of this fund. I`ve now left 5 messages for someone to call me urgently to discuss why my tax return hasn't been lodged and I get no response. It`s incredibly frustrating!
They have no phone contact, no even for paying soncumers....be prepared to wait days for a vague email response which is very long winded and technical, making it hard to understand.
Horrendous customer service
Utterly hopeless, shocking customer service, zero care factor. You can only contact them via the client portal and they will neither receive or make phone calls - imagine how frustrating this is when trying to discuss financial matters. The level or arrogance is astounding with their ''do the bare minimum" attitude, and their efforts to maximise their own profits to the customers detriment is blatantly obvious. Do yourself a favour, pay a little bit more and use your own accountant.
Warning. Do not use.
I tried to give address of son currently residing overseas. They wouldn't accept. I researched on ATO website and confirmed with the ATO directly that my son can, in fact, reside overseas as long as his contribution is less than 50% of the SMSF. I wrote to eSuper of this and asked to update my son's address. I received a canned response with link to ATO website that they thought proved an overseas address was not permitted but the ATO website specifically states SMSF must qualify as Australian and the majority contribution to be made up of memb...ers residing in Australia. I also confirmed this directly with the ATO. They did not know this very basic requirement. They did not respond to my email. Expensive for an automated, ignorant service. Go elsewhere.
This company is [word removed] don't use them, they don't finish what they start. would never use them again.
Going to some one else
Beware.. Esuperfund will dump you without any warning
Esuperfund just sent me an email today saying that they have cancelled their service to us effective today. We have been with them for four years. Apparently they changed some of the investment types that they allow and have excluded SMA's and WRAP's, but rather than point this out to their clients or get in contact to explain the changes for those clients with those products they just cut the cord and leave you high and dry. I was a convert and loved the way the system worked but now I can no longer recommend this service.
No useful response
I have been unable to get a answer as to which structure i have to put on a property purchase contract.. instead i get sent a generic link. Nothing within esuper is personalised & you cant talk to anyone. Nobody will call you if requested. As i need advice i will have to pay for it elsewhere. Approved products are too restrictive.
They can't handle the work load and fees up 40% in 3 years
Each year they take longer and longer to process returns and the fees just keep rising!
I was told they would prioritise my return as there are a few issues, so I spent the weekend in July when they opened my portal finalising my input but still have heard nothing and that's their idea of prioritising my account.
They clearly aren't coping with the amount of accounts they have taken on.
Been with Esuperfund for two years. The first year's return was processed on time (barely) however the team at Esuperfund were not responsive and I had to chase them to get this done. The second year they pulled the pin on my service after initially committing to auditing Crypto currencies in March this year, backed out on this position in October, and asked us to go somewhere else. Glad this happened as my feeling is they are a low cost provider and do the bare minimum. Ask too many questions you become an unwanted overhead. You get what you pay for is so true! All the positive comments are from the newbies, I would like to see the churn rate over time.
Terrible Customer Service and Failed in everything
Been a client with them for 3 years , and initially was alright but has become unresponsive and extremely poor customer service, one day I can't login the portal I try to call couldn't get through and submit an online query wondering why. I got email reply saying they have drop me as a client and I found out they have left two financial year return not done and then blame me for not responding when they have not contact me at all
Questions & Answers
Do the brokers/trading platforms esuperfund use enable trading in cryptocurrency? If not can I use my own crypto trading apps/platforms and how hard will that make the admin/auditing process for eofy?
Australian based cryptocurrency exchanges are supported. You can get much more information on supported investments on their site at: https://www.esuperfund.com.au/learn/learning-modules/learning-modules
What is your (eSuperfund) contact phone number so that I can discuss some questions before I complete my online application ?
They don't do anything over the phone any more; all contact is via the secure email on their site. It sounds strange but it works; everything gets answered quickly. Also, each time they answer a question, along with the answer you also get a nudge to the information and/or function on the platform so you'll know how to do it yourself next time. My experience was that after setup and the first tax return there is rarely any reason for contact. But if you're the kind of person who needs regular contact with their accountant for example, then this is probably not the system for you. If it sounds as if I have a connection with them I promise you I don't - I'm just a happy customer - and the kind of person who always prefers the self serve aisle in a supermarket.
I agree with MattPP
problem is I would like to get more of a rundown on the platform itself and the extent of transactional data entry I will be expected to do as trustee versus what integrates from brokers and bank transactions, then secondly does the platform offer full historic views of the SMSF performance and is that as up to date as daily, weekly, monthly , quarterly of just from one EOFY to the current / next one, thirdly - I have used Sharesight in the past integrated from CMC and it keeps a pretty good handle on cumulative profits and tax basis LIFO / FIFO etc etc, is there anything at that level of detail and current ytd performance to aide with decisions as to maybe take a loss and offset to move into something with better prospects for example a bit of a what if tool kind of
can i transfer money from another super fund into my anz account attached to superfund
Once your SMSF has been established you will be able to transfer your existing super benefits to your new SMSF. For more information regarding Rollover, please visit our website: https://www.esuperfund.com.au/learn/rollovers/rollovers
Mark at eSuperfund can answer this question for you via their email portal. Having said this if your ANZ account is your eSuperfund transaction account then yes you can transfer funds from your other superannuation account o your eSuperfund account.
But you will need a Roll Over Benefits statement from the other superannuation account which you will need to lodge with eSuperfund - as this is what is use to determine the concessional and non concessional portions of your other super and also to enable and accurate assessment of your superannuation to ensure you are not going over any limits such as the $1.6M balance cap. You will also need to raise a TBAR in eSuperfund to let the tax department know that you have transferred superannuation funds from one place to an other. If you don't do this the tax office will not know of the transfer and will think you have increased your superannuation balance by double what you have transferred.
I hope this makes sense. I am not a superannuation professional so I would suggest you confirm this with eSuperfund.
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