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Raiz

Raiz

3.5 from 46 reviews · View Statistics
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Reviews

  • Transparency
    3.5 (30)
  • Rates and Fees
    2.7 (21)
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Reviewer Photos & Videos

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J R.
J R.Metropolitan Adelaide, SA
  • 5 reviews

Not very impressed with Raiz..

published

They are very easy and straightforward when taking funds from me, however the complete opposite can be said when you're trying to get the funds.... That is your money! It's been an endless back and forth 'verification process' communication via email, one email says one thing, the other is saying completely different...
I don't see how I can make anything noticeable over time using Raiz. Not at all

Transparency
2/5
Rates and Fees
2/5
Incentivised Review No
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Nicholas W.
Nicholas W.
  • 3 reviews
  • 8 likes

THINK TWICE

published

I tried it for 6 weeks with a moderately aggressive investing profile. I put $3k in, lost $68 on the markets, got $6 in round offs (and I shop a lot), $29 in fees.... It's not worth it to me.

Even without the loss to markets I'd be behind. Raiz relies on the markets to lift your earnings, right now they're crap so forget it. If you're relying on round offs to make you some money ... ESPECIALY FORGET IT .

Raiz is a business with overheads, they all get paid first, then you. I think it's a trendy product that has no intrinsic value.

Easy to get out of though, that's one positive.

Transparency
2/5
Rates and Fees
2/5
Incentivised Review No
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Jill C
Jill CSouth East Queensland, QLD
  • 3 reviews
  • 3 likes

Inability to make changes

published

I recently tried to change the bank account associated with the Raiz account. One of the many things they asked for to make the change was a selfie ‘REALLY’. All the other accounts I had to change were easy, but Raiz was just too hard, so closing it down 1 July. Hardly made any money anyway after they had taken their monthly fee.
Recommendation is don’t bother.

Incentivised Review No
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EmmaR
EmmaRGreater Melbourne (Metropolitan), VIC
  • 10 reviews
  • 9 likes

Raiz is terrible - fees are too high, they don’t let you close your account, they take fees without asking

published

Raiz charges you fees without your consent. They won’t tell you they are charging fees - I was recently charged $3.50. And for what? Listen to the barefoot investor-do not use

Transparency
1/5
Rates and Fees
1/5
Incentivised Review No
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Forex & Share Trading Platforms

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Wanda
WandaLyons 2606, ACT
  • 5 reviews
  • 2 likes

All 1 star review worths to read before you join

published

Seriously, read the 1 star reviews here. All true. I experienced them all that’s why I closed my Raiz almost a week ago.

It didn’t tske long for them to get money out of your bank but their transfer process takes long time. Almost a week now, i still haven’t got my money back.

Fee of 3.50 does not appear in your raiz statement.. all the sudden i realised they had taken fee while I didn’t make money from my “investment” to cover the fee.

Don’t get into their trap!!!!!

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Transparency
1/5
Rates and Fees
1/5
Incentivised Review No
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NitinM
NitinMSydney, NSW
  • 10 reviews
  • 9 likes

Fraud company

published

they took five thousand from my account with any authorisation. What a fraud organisation this is, stay away from this dodgy, fraud. Bunch of morons living off someone's money like pests do

Transparency
1/5
Rates and Fees
1/5
Incentivised Review No
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Grant T.
Grant T.
  • 8 reviews
  • 3 likes
  • Verified

Very useful app for helping to save money

published

I have been using Raiz for over a year. I have found it a very helpful way to save money. Over the first year I used the app, I have managed to save a few thousand dollars.
I use both the round up function, recurring investments and also Raiz Rewards. I must highlight Raiz Rewards. This is a great way to get free cash-back for my online shopping.
Highly recommend.

Transparency
5/5
Rates and Fees
5/5
Incentivised Review No
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Jeff
JeffSydney, NSW

A great way to help me save for a rainy day

published

Love using Raiz to save some money for the future. Easy to use and transparent with their low fees. Just don't ride the daily ups and downs of the market!

Transparency
5/5
Rates and Fees
5/5
Incentivised Review No
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Great investing app!

published

I use Raiz Invest for Round-ups and recurring investments. They get invested automatically and I don't even have to know anything about financial markets. Perfect for building my holiday fund!

Transparency
5/5
Rates and Fees
4/5
Incentivised Review No
Similar opinion? Write a review on ProductReview.com.au!
Forex & Share Trading Platforms

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Lee
LeeMelbourne
  • 15 reviews
  • 12 likes

Great way to invest with some unique features.

published
Transparency
4/5
Rates and Fees
3/5
Incentivised Review No
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Raiz invest app

published

I have found it a helpful way to help me save, set and forgot it with the recurring transfer and round up features. Can’t comment on returns yet as have only been using since November. If you’re thinking of giving it a go use WSJBU3 for a $5 kicker

Incentivised Review No
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Vas
Vas
  • 2 reviews
  • 1 like

waste of time and money

published

dont fall for the 5star ratings, they from scammers asking to use their codes so they make money. I put $200 a year ago and i closed my account with a profit $3. They direct debit directly from your bank(so it wont reflect on your raiz account) for maintenance fee $3.50(very smart) every month which added up to $42 for a year so my loss is $39 after a year. so stay away from them my advice there are plenty of other options out there if you do your own research or simply leave the money in the bank.

Incentivised Review No
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Forex & Share Trading Platforms

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Pam
PamSouth East Queensland, QLD

Holding super

published

These people will gladly take you money from anywhere you approve within minutes but when its time to pay you off omg they are the worst. Your money will not be released, you will beg, plead, cry and you will still get nothing. Run away as fast as you can

Transparency
1/5
Rates and Fees
1/5
Incentivised Review No
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Joshua P.
Joshua P.South East Queensland, QLD

USE [Content Removed] FOR FREE $5

published

Started 3 weeks ago and slowly can see my account growing day by day. Awesome for people wanting to make a start into investments. Would highly recommend it to everyone.

Incentivised Review No
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Geoff
GeoffPerth, WA
  • Verified

Poor everything

published

High fees, terribly designed app, and poor customer service.

Will happily take your money, good luck getting it out in a timely fashion. Factor in 2 weeks best case scenario. How can every other share service have your money to you in a defined time frame. Here’s a radical idea; user sells shares and you send the money in T+3 business days. Here’s another radical idea, spend some of those high fees improving your processes so they are customer focused.

Skip this business, go try other investing apps like comsec pockets, run by a legitimate bank that has processes and strong customer support.

Transparency
1/5
Rates and Fees
1/5
Incentivised Review No
Similar opinion? Write a review on ProductReview.com.au!

Questions & Answers

Devassy Puthussery
Devassy Puthusseryasked

Do you have an online share trading platform useful for a small trader to buy and sell asx shares?

1 answer
Craig
Craig

Best to use Westpac. Easy to use, backed by big business. only $19 per trade and no monthly account fees.

Get an answer from our members

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