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VTB Investment Saver
The VTB Investment Saver is a smart tool that makes investing a whole lot easier. Whether you're saving for a down payment on a house or retirement, this thing is perfect for anyone looking for a hassle-free way to grow their money. I mean, who doesn't want to make their money work for them, right? The VTB Investment Saver is designed to help you reach your financial goals without all the stress and hassle of traditional investing.
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A Cool Product, But a Hassle to Deal With
summarizeEditor's Summary
I recently opened an investment savings account with VTB, and while it's been a total game-changer for my savings, there are some super frustrating aspects to deal with. The idea behind this account is to save some money in an investment account, just in case something unexpected comes up. It's super easy to use, but be aware that you can't withdraw your money quickly, and there are some quirks with the app. If you're disciplined with your savings, it's worth the hassle.
settingsSpecifications
KararKötü
Güvenlik7/10
Hassaslık3/10
Kullanışlılık8/10
I got an offer from VTB last fall to open an investment savings account. I already have something similar at another bank, but I decided to give VTB a shot.
The Idea Behind the Savings Account
I invested my money in the 'Liquidity' fund, and my balance increased. The best part is that I know I won't waste my money on something useless. To be honest, I've never been good at saving for a rainy day, so this was a game-changer for me.
The idea behind this savings account seemed like a good one - save some money in an investment account, just in case something unexpected comes up.
It's super easy to use. I can top it up manually or set up automatic payments (which is a requirement). The minimum I can pay is 300 rubles per month.
The money gets transferred from my regular account to the investment account on the date I set in the app. I don't have to do anything else, as long as I have at least 300 rubles in my account.
I was happy to see that I didn't lose any money – a big plus for me.
Before opening the account, I read through the terms and conditions in the product description, specifically the 'How it works' section.
It all seemed pretty straightforward, so I turned off the automatic payments in March when something weird happened with the bank. I lost a bit of trust, and I decided to start saving in other accounts instead.
It's Not as Simple as It Seemed
I've withdrawn money from an investment account before, and it was a breeze. I figured it would be the same with VTB.
Boy, was I wrong.
I'm still waiting for my dividends and investment returns to be credited. I've reached out to customer support, and I have to say, my patience is wearing thin. It's been a nightmare trying to get a response from them. I've written multiple times about my account being zeroed out in the app, but all I get are smiling emojis and a bunch of repeated messages from their team. They couldn't even be bothered to give me a proper answer.
The problem is, this isn't just an issue with the mobile app – I've had the same experience on the web version of VTB Investments. My account was zero, too! Luckily, it all sorted itself out eventually. But that's not the only surprise I've had with this service.
I couldn't see my dividend payouts in the app. It looked like my investment account was empty. I spent ages trying to figure out what was going on. Then, I got a response from customer support that made me want to scream.
I sent them a screenshot of the main page, and they told me to click on 'Liquidity' on the main screen. I was about to lose it – there was no 'Liquidity' option on my main screen!
After that, they gave me another 'helpful' suggestion. I followed their instructions, and the app just stopped working altogether. I'm speechless.
This isn't even the worst of it.
Don't Hold Your Breath for Your Money!
I was expecting to get my dividend payments on the day of the sale, just like with all my other banks. I managed to sell all my investments through the web version somehow.
I had 2,261 units, and the price was 1.6656 rubles. The price went up, and that was okay.
I'm still waiting for my money, but instead, I get a message saying I can only withdraw 18 rubles. The rest will be transferred to me the next day after the deal.
The most frustrating thing is that the mobile app's 'How it works' section doesn't even mention this issue!
I got an explanation for the possible cause, but I still don't know why I hit a withdrawal limit the next day.
Fortunately, I was able to withdraw my money the day after.
My Verdict: This product is decent, and it's great for saving up for big goals. The biggest letdown, though, is the withdrawal limits and restrictions. You can't take out the money on the same day you earn it. One bad experience was enough for me to stop using VTB Investkopiya. I wouldn't recommend it to friends due to the issues with selling and withdrawing funds. VTB really surprised me again.
live_helpFeatured FAQ
Can I invest as little as 300 rubles per month?
Yes, you can invest as little as 300 rubles per month, which is super convenient for those who want to save a small amount regularly.
How do I set up automatic payments?
You can set up automatic payments in the app, which will transfer the specified amount from your regular account to your investment account on the date you set.
Can I withdraw my money quickly?
Unfortunately, you can't withdraw your money quickly, which can be a hassle if you need access to your funds urgently.
What are the restrictions on withdrawing and limiting my funds?
There are some restrictions on withdrawing and limiting your funds, so make sure to read through the terms and conditions carefully before opening the account.
How do I know if I've invested my money correctly?
You can check your balance and investment status in the app, which will give you an idea of how your money is performing.
Can I change my investment strategy?
Yes, you can change your investment strategy at any time, but be aware that this may affect your returns.
What happens if I miss a payment?
If you miss a payment, you'll be charged a fee, and your account may be penalized. Make sure to set up automatic payments to avoid this.
Can I withdraw my money if I change my mind?
Yes, you can withdraw your money if you change your mind, but be aware that there may be some restrictions and fees associated with this.
How long does it take to open an account?
The process of opening the account took a bit longer than expected, but it was worth it in the end.
check_circlePros
- •I can invest as little as 300 rubles per month, which is super convenient for my budget.
- •The app is a breeze to use, and I can set up automatic payments with ease.
- •My money gets transferred from my regular account to the investment account on the date I set, no fuss.
- •I didn't lose any money – a huge plus for me, considering I'm not exactly a pro at investing.
- •I can top up my account manually or set up automatic payments, which is super flexible.
- •The minimum I can pay is 300 rubles per month, which fits my budget perfectly.
cancelCons
- •You can't withdraw your money quickly, which can be a real hassle if you need access to your funds urgently.
- •The app has some quirks, like occasional glitches that can be annoying.
- •There are some restrictions on withdrawing and limiting my funds, so make sure to read through the terms and conditions carefully.
- •The process of opening the account took a bit longer than expected, but it was worth it in the end.
- •I had to read through the terms and conditions carefully before opening, which was a bit of a pain.
- •It's not the most user-friendly app, but it gets the job done – just don't expect too much.
