Moneyfarm Reviews 6,447

Reply from Moneyfarm

Mar 13, 2026

Hi Michelle,

Thank you for your comments. Having looked into your old account with us, and emails received, you requested to close your account on 25th February, after speaking to one of our colleagues on the phone. This request was immediately raised and your account was closed fully on the 3rd March, this was confirmed to you via email.

Typically we aim to action all requests within 2 working days, however in this instance we were particularly busy so it took a tad longer with 4. For any urgent queries, we are always available to speak with directly on the phone, or through our online chatbox.

Apologies for the delay, and we thank you for your feedback.

Reply from Moneyfarm

Mar 13, 2026

Hi K Smith,
Thanks for your feedback.

We apologise for the inconvenience. Having reviewed your account, I can see that we’ve had a number of phone calls with you over the last few weeks. Indeed I see that our team has also been consistently dealing with our pension administrators on your behalf in order to ascertain updates for you.

Whilst we aim to reply to all emails and phone calls as quickly as we can, there are instances where we aren’t able to respond instantly. Moreover, this time of year (near the end of the tax-year) is always our busiest period, so the volume of calls and emails is heightened.

We’re glad we managed to reach you, however, and should you have any further questions please do get in touch.

Reply from Moneyfarm

Mar 13, 2026

Good afternoon.

Thank you for taking the time to leave your review.

Apologies for the delay and inconvenience you have experienced here in getting your funds allocated to your account.

Ultimately, the reason for the delay is that we have a number of security checks when depositing funds into accounts, both for AML and client security purposes. In your case I can see that the funds were sent from a bank account which we did not have verified on file, with the funds were being sent from a savings account, which we also do not accept. We contacted you several times letting you know why we were not able to allocate the funds immediately and what further information we required in order to do this.

I can also see you have attempted to call us multiple times on the weekend, our opening hours are Monday - Friday 9am - 6pm, so please do get in touch with us between these hours and we will be able to explain what we need in order to get your funds allocated.

Please do reach out to us on 0800 433 4574 if you have any questions on the above, however, and we would be more than happy to help.

Reply from Moneyfarm

Feb 18, 2026

Hi Zakyah,

Thanks for your review.

I can see that you requested to terminate your pension scheme membership with us within 30 days of account creation. This is permissible under the law and therefore also within our own T&Cs. I see that a member of the team was able to share the cancellation form with you, and that you were able to sign and return that form to us. Please note, that the process of terminating scheme membership is never instant, since funds need to be liquidated and settled, tax relief needs to be refunded and reported, and diligence checks need to be carried out.

In your particular instance, the timing was unfortunate, since by the 2nd of February it would already have been too late to finalise the process before we enter a 20-day pause on activities, as we migrate existing pension customers over to a new administrator. Activities have been subject to an ad-hoc and one-off pause between February 6th-20th to ensure a smooth migration process for our pension clients. By February 2nd, it would already have been too late for this process to have been resolved and final by the 6th of February deadline.

We have the relevant forms, and have already shared these with our administrators so that this can be carried out as soon as possible after the pause is lifted on February 20th. Rest assured that we will have this completed for you shortly after February 20th and within the cooling off period. In any case, it is the request to terminate membership which must be received within 30-days; not the termination itself which has a time limit of 30-days once notification has been given. That said, we are of course striving to get your funds to you as soon as possible.

Thank you for your understanding.