Getting Started

What is Wombat Invest?
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Our goal is to make investing easy and accessible to everyone! You can start investing 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. 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 do I sign up?
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To get started download the Wombat Invest app, available on the Play Store for Android devices and on the App Store for iOS devices. Next, you’ll need your National Insurance number and form of photo ID to open your investment account. Once your account is set up, simply top up and you can start investing in the companies that matter to you.

Can I use a Wombat account if I don’t have a National Insurance number?
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A National Insurance Number is required to open a Wombat Account.

How does it work?
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Investing might be complex but it doesn’t need to be complicated. Once you’ve opened your investment account, whether that’s a Stocks and Shares ISA (ISA) or a General Investment Account (GIA), you can get started with just £10. Browse the available Themed Funds and stocks available in each account to choose your first investment. Tap Buy on the app when you’re ready to go. Themed Funds allow you to invest in a collection of companies at once, while individual fractional shares allow you to invest in a specific company. Start building good financial habits by enabling Round Ups and Auto Invest to invest regularly and build a diverse portfolio. Please note, not all features are available across all of our subscription options.

What are the minimum and maximum amounts I can buy?
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The minimum amount you can buy on an Instant GIA is £10. There is no maximum limit to the value of your buy order.

Are there any restrictions around how often I can trade?
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You can trade as often as you like, as long as you are not day trading. A “Day Trade” constitutes buying and selling the same asset within the same day. Your account will be frozen for 90 days if you day trade 3 times or more the same asset within 5 days. More information around day trading can be found here: https://www.sec.gov/files/daytrading.pdf

Can I buy Themed ETFs in an Instant GIA?
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No, there are only US stocks and shares available in an Instant GIA.

What stocks and shares can I buy/sell in an Instant GIA?
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You can find a list of the US stocks and shares available in our Instant GIA here.

Can I cancel an order?
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The ability to cancel an order is dependent on your account type. You are able to cancel any pending orders on an Instant GIA. Once an order has been completed then you are unable to cancel or make any amendments to the order. With a Standard GIA or ISA, all orders are submitted in bulk to complete in our trade window so we are unable to cancel any orders.

Can I use Wombat if I live outside the UK?
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Wombat is currently only available in the UK. We will provide updates when this changes.

Round ups

What are round ups and how do they work?
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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?
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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?
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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?
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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?
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Go to Account Settings, then “Round Ups”, and simply move the slider to “on” or “off”.

Investments

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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.

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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.

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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 .

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What are the market hours for instant trading?

All of the fractional shares we offer on the Instant GIA are traded on the New York Stock Exchange (NYSE) which is open from 14:30-21:00 UK time each business day, excluding US bank holidays.

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Are there any days I can’t trade?

You can place a trade any time on any day but your trades will only complete between 14:30-21:00 UK time each business day, excluding US bank holidays.

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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.

Instants

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.

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.

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 .

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.

How do I open an Instant GIA?
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Opening an Instant GIA is easy. You’ll need to download the Wombat app, available on the Play store for Android devices or the App store for iOS devices. Once you’ve installed the app, you’ll be taken through a few screens, allowing you to select the type of account you’d like to open. Our Instant plan offers you a General Investment account (GIA), and our Standard plan offers you a choice between a General Investment account (GIA) or a Stocks and Shares ISA (ISA). Simply tap on the screen to start the ID verification process.

Can I open an Instant GIA and other accounts with Wombat?
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Yes, you can open multiple accounts. For example, you can open an Instant GIA and a Standard ISA and/or Standard GIA.

Why do I need to provide my National Insurance number and photo ID?
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To fully comply with UK, EU and global regulation, Wombat requires photo ID to enable us to verify the identity of all users. Your National Insurance number is required by HMRC for tax purposes.

What is identity verification?
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As a financially regulated company, Wombat is required by law to verify all its customers and we need to make sure you are who you say you are. 

What types of ID can I use?
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  • Valid UK or overseas passport

  • Valid UK driving licence

  • Valid EEA/EU photocard licence

  • EU Identity card

  • EEA or Switzerland national identity card

  • Other national identity cards (non-UK identification card)

  • Northern Ireland voter's card

  • Residence permit issued by Home Office to EU Nationals

How can I update the details on my account?
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If you made an error whilst creating your account, contact our Customer Service team for assistance at support@wombatinvest.com 

Once your account has been created, you can manually update your address using the app. Tap Account > My Account Details > Address to edit. 

How is my personal information protected?
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Your information is stored securely on our servers and processed in accordance with local laws and regulations. Read our Privacy Policy for more details. 

Is my money FSCS protected?
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Wombat and our partners are covered by the government’s Financial Services Compensation Scheme up to a limit of £85,000. Please be aware that this does not cover any decline in the value of your investments. You can find more information about FCSC protection here.

How can I deposit money in my Wombat cash account?
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Before you start investing, you need to top up your Wombat cash account. This can be done instantly via an Instant deposit, or a Bank transfer. Bank transfers usually take 2-5 business days to complete. All you need to do is link your bank account and select the amount you’d like to transfer. To do this open the app, tap Add Money, and follow the step for your preferred transfer method. If you’ve opened a Standard ISA or a GIA with us, you can also use our Auto Invest and Round Up features to deposit and invest money automatically.

How do you keep my money secure?
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Wombat uses 256-bit TLS encryption to protect your personal information and your money. Our team of dedicated Operations specialists, Customer Service representatives and Developers are trained to the highest standards and regularly undertake certified training to ensure all our practices and policies meet regulatory requirements.

Deposits & withdrawals

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

Pricing, Tax & Offers

When/How do I pay capital gains tax?
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Your capital gains tax allowance includes all the realised gains you make across any investments you’ve sold that year (i.e. stocks and funds, but also rental properties or art). If your total net capital gain for the year is within the government allowance (£12,300 in the 2021/22 tax year), it’s tax-free and there’s no need to report it.

Significantly, any capital losses you’ve realised that year (i.e. investments you’ve sold at a loss) count against your gains, which could keep you under the allowance. For instance, if in a tax year, you sell one investment at a £30,000 gain and another at a £18,000 loss, your net capital gain is £12,000 and under the allowance.

Capital gains tax is calculated on the gain from the original date of purchase, not the growth of your portfolio year-to-year. If you’re planning to invest for the long term, compounding means £12,300 becomes an achievable gain on comparatively small initial investments.

Any gains over the capital gains tax allowance of £12,300 should be declared on your annual HMRC self assessment tax return.

What does this account cost?
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There is no account fee for an Instant GIA. Each individual trade is subject to a 0.65% Foreign Exchange (FX) fee. When you sell or buy shares in US companies, your cash will be converted from GBP to USD. Wombat Invest collects a small fee (FX fee) for this currency conversion - it helps us generate revenue, grow the business and bring you even more benefits and features.

Can I refer my friends to an Instant GIA?
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No, the referral program is only available for standard ISAs and GIAs at this time.

Will I still receive the £20 sign up bonus for the Instant GIA?
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Yes, the £20 sign up bonus is available for all account types.

Are there any rewards or bonuses for signing up for the Instant GIA?
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You will receive 0.20% cashback on every buy transaction that you complete. The full terms and conditions can be found here.

Fees and Security

I have a balance of £0 - will I be charged anything?
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No. Fees are taken out of your Wombat account, not your bank account, so if your account is at £0, you will not be charged.

Why should I trust Wombat?
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We may be a relatively new company, but we’ve taken important steps towards gaining your trust.   Wombat Invest Limited is authorised and regulated by the Financial Conduct Authority under Firm Reference Number 955775. 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?
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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?
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Please contact our support team at support@wombatinvest.com as soon as possible.

What are Wombat’s fees?
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Wombat charges two fees:
Fixed subscription fee covering all transaction and investing costs and access to the learning hub - £1 per month

Platform fee - 0.1% of your portfolio value, e.g. £10 for a £10,000 account per year, so £0.83 per month

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

How do I change my address?
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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?
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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?
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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?
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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?
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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
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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?
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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?
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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
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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.