Quote Originally Posted by whitt View Post
I would like to deposit $100 a fortnight regularly into my squirrel account.
Is this possible as it mentioned minimum $500.

Also if I did these regular deposits how would I use the funds? Can I order and invest small amounts or would I need to wait and invest larger?
Hi Whitt,

Our platform wont work that well for you just now. You don't earn interest when the money isn't invested and we have a minimum of $500 for term investments. Better to keep it in a bank Call Account and then transfer over larger amounts when you can.

We're going to launch a few things early to mid next year.

The first is we are going to put interest on money that is in bids put not yet invested. Investors should get some sort of return from the moment they commit funding and not have to wait until we lend it out.

The second is that we will launch a Call Product for regular savers and those needing quicker access to their funds. Once we get this product sorted we can allow smaller transactions into it (like your suggestion.)

Third is that we are introducing a Secondary Market. This is built and we are just waiting on getting an approval from the FMA next year and can then launch it. With the way we allow Investors to sell back to the platform we don't want millions on tiny loans clogging up the system hence have a $500 minimum.