FAQs
Frequently asked questions
52 articles
- Are my investments safe with Prosper?How do I know that Prosper is keeping my invested money securely?
- How does Prosper make money?If you don't charge for transactions or have a platform fee how can you be profitable?
- Is Prosper safe?How am I protected by Prosper if they go out of business?
- Prosper's charging scheduleOur zero and low fee promise to you
- What kind of funds can I invest in?Learn more about the investment products we offer.
- What is the difference Prosper makes that other investment and savings companies don't?We believe that cost matters and minimising fees is key to achieving this success.
- Who are Prosper and what do we do?At Prosper, we believe that everyone should have access to high-quality investment products at low costs.
- Why should I invest my money with Prosper?We've built a digital-first wealth management platform that offers zero fees.
- How are Prosper fees so low?We believe that existing investment and pension providers earn too high a profit margin at the expense of their customers.
- Withdrawing money from an accountInformation on how to withdraw money from your Prosper account.
- Is my money safe in private markets?Understanding the risks of private market investments is critical.
- Private Market InvestmentsPrivate market investments include private equity, private debt, and venture capital funds
- What happens after I sign up?Find out what to expect after signing up.
- How much do I have to invest?We have no account minimum as we want to make investing accessible for everyone.
- Are there any risks associated with being a Founding Member?Being a Founding Member comes with no additional risks.
- How long has Prosper been around for?Prosper is a financial technology company that was founded in late 2021.
- Can I leave and take my money with me if I’m not happy?Any Prosper member is free to withdraw their money at any time.
- Why should I trust Prosper with my money?We are authorised and regulated by the Financial Conduct Authority (FCA).
- Adding a Beneficiary to your SIPPOur team can add the 'Expression of Wish' to your account on your behalf.
- How to Update Your Address with ProsperWe can update your address on your behalf.
- Understanding Your StatementsYou can access your Bondsmith Statements through the Documents tab in the app.
- Manual Bank VerificationIf your bank is not yet using open banking, we can verify your account ourselves.
- Changing Your Nominated Bank AccountWe can change your nominated bank account, however we require a copy of a recent bank statement.
- How to Update Your National Insurance NumberA guide on updating your national insurance number.
- How to Make a One-Off Payment to Your Prosper Investment Account
- Overseas Assets on Prosper's PlatformProsper does not offer Overseas Assets.
- Bank Transfer LimitsRead more about how to navigate your bank limits.
- Does Prosper have a Wind-down Policy?As a regulated business we have a formal Wind-down Policy.
- What happens if our partner custodian were to go into wind-down?In the case of our custodian's Wind-down, we would manage the process and arrange for the transfer to a new custodial arrangement.
- Why was my payment returned?You need to confirm payments through the Prosper app.
- Why am I having issues with locating transferred funds?Prosper is currently working on updating user experience when viewing fund transfers.
- What should I do if I do not have a confirmation email for a deposit?It is possible that your bank has not yet sent the funds to us, so it is best to contact them and check.
- Why was Prosper created?Prosper offers zero cost personal pensions, ISAs, GIAs and market beating cash savings accounts in an app.
- What is Growth value and Growth percentage in the app?Understanding the app
- Mumsnet rating for ProsperWe asked Mumsnet users what they think of our app
- What is an SEIS fund?Find out more about an SEIS fund
- Navigating private marketsOpportunities and considerations
- What is financial guidance?Your questions about Prosper's financial guidance service, answered
- How is interest calculated and paid on my savings accounts?Explaining when and how interest is paid on cash savings accounts
- Why am I seeing a warning when adding Prosper’s account details?Some banks may show a warning when adding Prosper’s account, but payments are safe
- Prosper's Ten Year Offer (Summer 2025)Answers to the most common questions about our Ten Year Offer or 'Transfer Offer'
- What Is the Prosper Wallet?It’s a smoother, more convenient way to manage how and when you put your money to work — across both saving and investing.
- Understanding your Prosper walletHeld with Griffin Bank and FSCS protected.
- Interest Breakdown and StatementsIn the Prosper app, you’ll see your total balance and overall performance. We don’t show a running, broken-down view of interest as it accrues. Instead, that detail is included in…
- Understanding mortgages: A guide to home financeUnderstanding mortgages: A guide to home finance
- Navigating wealth taxes in the UK: Planning with confidenceNavigating wealth taxes in the UK: Planning with confidence
- Protecting what matters: A guide to life, income protection, and critical illness insuranceA guide to life, income protection, and critical illness insurance
- Cash ISA FAQsEverything you need to know about the Prosper Cash ISA. Learn about tax-free interest, the £20,000 annual allowance, flexible withdrawals and FSCS protection.
- What is FSCS Protection?Learn how FSCS protection works in the UK and how Prosper protects your savings up to £120,000 and your investments up to £85,000 per person, per authorised firm.
- Cash ISA transfers – Provider guidanceInformation for ISA providers on how to submit a Cash ISA transfer request from Prosper, including required details, Cash ISA reference requirements and submission instructions.
- Junior Stocks & Shares ISA FAQsEverything you need to know about opening, contributing to, investing in and transferring a Prosper Junior Stocks & Shares ISA.
- What's the bereavement process at Prosper?Managing a loved one's account after they've passed away.