Getting Started

What is Wombat?

Our goal is to make investing easy and accessible to everyone! You can start with just £10. Set up “auto-deposits” to deposit money on a monthly basis, or round up your everyday purchases and invest the spare change into hundreds of global companies.  Click here to find out more!

*Investments can offer higher returns than savings accounts over the long term, typically for at least 5 years or more. All investments carry varying degrees of risk, and you may get back less than you invest.

How does Wombat work?

We’ve created investment ‘themes’ that allow you to easily invest in a collection of companies or brands that are aligned with your lifestyle, interests, and beliefs.

Get started with just a £10 one-off deposit, or contribute monthly via our Auto Invest function.

You can also use Round Ups to round up your everyday purchases to the nearest pound and send the spare change to your Wombat cash account. You can pause or resume Round Ups at any time.If you’ve got any questions, don’t hesitate to drop us a message at support@wombatinvest.com!

What’s the minimum amount of money I can start with?

You can start investing on Wombat with as little as £10.

Can I use Wombat if I live outside the UK?

Wombat is currently only available in the UK. We will provide updates when this changes.

How do I sign up?

Just download the app and you’ll be up and running in minutes! You will need your bank account details, some ID, and your National Insurance Number. If you choose to enable round ups, we’ll also need your personal online banking details.

Do you have age restrictions on who can open an account?

Currently, you have to be 18 or over to open an account.

Can I create an account on the Wombat website?

You can currently only use Wombat via our mobile app (iOS and Android).

Can I use a Wombat account if I don’t have a National Insurance number?

No, a National Insurance Number is required to open a Wombat Account

Round ups

What are round ups and how do they work?

Round Ups allow you to round up spare change from your everyday purchases. So, if you use your linked account to buy a £2.30 sandwich, we’ll automatically round up £0.70. If you spend a round pound, we’ll boost your savings by stashing away a whole pound.Twice a month, we’ll transfer the spare change to your Wombat cash account ready for you to invest! You can pause or resume Round Ups at any time.

How much can I save from Round Ups?

A round up gets taken every time you make a transaction with your nominated bank card. The more transactions you make, the more you are likely to end up saving, as each time you’ll have money put towards your Round Ups pot.

Do I have to use round ups?

Investing can be done in 3 simple ways all of which are optional and can be stopped or resumed at any time:

Round ups – we round up each transaction you make to save money towards your investment pot.
Auto-invest – invest a fixed monthly amount in to the Themes of your choice
One-off investments – as it says, make one-off investment when you like.

How do I connect more round up accounts to Wombat?

You can add more round up accounts from the Account section of the app, but all deposits will be collected in bulk from your nominated Direct Debit account.

How do I turn off/on round ups?

Go to Account Settings, then “Round Ups”, and simply move the slider to “on” or “off”.

Investments

Do you give financial or investment advice?

We do our best to give you the tools  you need to make informed investment choices via the Learning Hub. This does not constitute financial advice and you are ultimately responsible for the investments you make. Please make sure that you invest what you can afford, and that you make sure you are aware of the potential to receive less back than you initially invested.

What does Wombat let me invest in?

Wombat partners within the investment industry to offer you different investment themes that appeal to your interests, lifestyle and beliefs. You can pick one or more themes that best suit you.

Am I limited to certain funds only on Wombat?

We have packaged investments into themes that provide you with access to a broad range of companies and brands that match the specific theme. Fund selection is reviewed annually, and, if necessary, adjusted at the end of each calendar year.

For more information regarding the themes, please read the Key Investor Information Documents (KIID) and factsheet for each theme .

What are KIIDS?

Fund managers provide an information sheet called a KIID (Key Investor Information Document) which includes all the key facts about a fund. It describes what the fund does, the investment risk, charges and performance to help you compare different funds and assess whether that particular investment is right for you. It comes in a standardised format, set out by European regulations.

Deposits & withdrawals

How long does it take for my money to be invested?

Your savings are collected at midday on your selected direct debit day (7th, 14th, 21st or 28th of the month). Your money will be invested into your ISA or GIA on the 3rd business day after the direct debit has been actioned. The full timeline is as follow:

Day 1 – Wednesday midday: A Direct Debit instruction (round down to the nearest whole pound) is generated and you will be notified of the amount within the messages section of the app.
Day 4 – Monday: Money will leave your bank account via a Direct Debit, and will then be invested.
Day 8 – Thursday: Your investments have settled and will be reflected in-app.
How do I withdraw my money from my Wombat Stocks & Shares ISA or GIA?

How do i withdraw money from my Wombat stocks and shares ISA or GIA?

You can withdraw either some or all of your money at any time, as long as that amount has fully settled. Your investments will then be sold, and returns will be paid directly into your bank account a few days after the transaction confirmation. This process can take up to 10 days.

Fees and Security

I have a balance of £0 - will I be charged anything?

Yes. You will be charged £1 per month for your Wombat account

Why should I trust Wombat?

We may be a relatively new company, but we’ve taken important steps towards gaining your trust.   We are an appointed representative of  P1 Investment Management who are authorised and regulated by the Financial Conduct Authority (FCA) with firm reference number 752005 . This requires us to have robust procedures to ensure we run our business appropriately and have the best interests of our customers at heart.    

We take your data security extremely seriously and adhere to the most rigorous industry standards, including 256-bit, bank-level encryption for the transmission of sensitive financial and personal data. We regularly engage information security specialists to test our systems.  

We are founded by proven entrepreneurs who have significant experience in the field of retails investments.

If you’d like to know anything else about us, feel free to get in touch! We’ll happily chat with you and help you get to know our company better. support@wombatinvest.com.

Why is my National Insurance number needed?

If you wish to open an investment account, your National Insurance number is required by the HMRC for tax purposes.

My phone has been lost or stolen. What should I do about my Wombat account?

Please contact our support team at support@wombatinvest.com as soon as possible.

What are Wombat’s fees?

Wombat charges two fees:
1.Fixed subscription fee covering all transaction and investing costs and access to the learning hub – £1 per month

2.Platform fee – 0.10% of your portfolio value, e.g. £10 per £10,000 per year. Charged monthly.

In addition, the ETF provider fee (0.07% and 0.75% variable based on the fund) will be charged annually, billed monthly depending on which Themed Fund you select. This isn’t deducted from your account but rather is reflected in the value of your fund.

Is my money secure?

If the fund provider has been declared in default, you may be covered for up to £85k of financial loss under the Financial Services Compensation Scheme (with respect to ‘investments’) . [Learn More FSCS website.

Prior to investing your Wombat Cash in your chosen themes your money is held in a segregated client money account at Lloyds Bank plc. Similarly, once your you have sold an investment, any sale proceeds will be held in the same way until we return it to you.  You will not receive any interest on any money held in your Wombat Cash account. This money is protected in accordance with the FCA’s client money rules. If Lloyds Bank PLC becomes insolvent, you may be entitled to claim compensation from the Financial Services Compensation Scheme (FSCS), up to the maximum limit of £85,000 per person, and subject to the limits set by the FSCS.

How do i report unauthorised access to my account?

If you believe someone has gained access to your Wombat account, please get in touch with our support team at support@wombatinvest.com as soon as possible. You may also wish to consider cancelling any linked banking activities.

Why do I need to provide my online banking login details?

For the round ups functionality to work, we require your banking details in order to create a secure connection with your financial institution on a read-only basis. This allows Wombat to securely access your transaction history and  perform the calculations to enable the Round Up function.

Your Account

How do I change my Direct Debit/Email/Phone number?

Please get in touch with us at support@wombatinvest.com and we’ll get this changed for you.

How do I change my address?

You can change your address in the app under Account > My Account Details > Address or by emailing us at support@wombatinvest.com

Why has the value of my investments changed from the time when I sold them to the time I received the money in my bank account?

The price of funds at the exact moment you request to sell may change in value when the sale is actually processed and traded (which is when the value of your funds is finally determined).

If you request to sell your funds on Monday based on £x value, on Tuesday when the fund units are sold the value might have increased and decreased in value. The fund values are calculated daily.

I entered an incorrect email address during sign up. What should I do?

Simply start the process again and create a new account with the correct email address.

Can Wombat employees see my details, bank account or credit card account?

Your data is stored in our encryption protected system, and Wombat employees do not have access to this information.

How do I change my PIN/Password? What if I forgot my Password?

To change your pin/password, visit the Settings section of the app.  If you’ve forgotten your password, you can request a reset link by selecting ‘Log in with email’ on the home screen and clicking the forgot password option.

I want to check the current value of my investments

Visit the Portfolio section of the app to view the value of your current investments. If you have any questions, please contact our support team at support@wombatinvest.com

Where can I see my payment history?

You can view your payment history in the Transactions History section of the home tab of the app.

Will I receive any reports or statements?

You will receive contract notes for each transaction and you will be able see your transaction history using the app. Contract notes can be found in the Account tab.

I want to close my account

Please get in touch with us at support@wombatinvest.com and we’ll permanently close your account. This will close your investment account, cancel your direct debit mandate, and disconnect your round up account. Make sure to first withdraw all funds, or transfer them to another provider.