Swaper review

Swaper,com review

Sign-up and money transfer

Here is a quick review on my Swaper investment. Last Friday I transferred 2.688€ to my account and on Tuesday I got an email confirming my deposit. The signup process is hassle-free and very straight forward. You don’t have to verify your identity (by uploading drivers licence or passport) until you want to withdraw your money.

Getting started

Like most other platforms Swaper has an Auto Invest feature. That way you can automate the investing process and avoid most of the manual work.

Swaper review auto invest financially free

Being new to the platform, I was a bit confused about how I should use the Auto Investing feature. A few questions came to mind:

  • Swaper states that all loans come with a 12% interest. Why do I even select interest rate?
  • Should I make one or several schemes?
  • What happens if I set investment amount per loan to 30€ and I only have 10€ in my account? Would the 30€ be a maximum and my 10€ would be invested, or would it only invest if I had 30€ available?

Reaching out to support

Curious as I am, I used the Chat function in the lower right corner of the page to have my questions answered right away.

Swaper chat financially free

The reaction time from the support is instant. I have talked to Danija from Swaper support several times and I’m very pleased with the feed back. Very fast, polite and honest response! Getting support is truly a delightful experience.

Setting up Auto Invest

I hear other investors have trouble keeping their all funds invested at all times on Swaper. I don’t like cash drag so I did some research to find out how to avoid it.

It turns out that you are getting loans according the number of active Auto Invest schemes. Every time a new portion of loans are published on the site, every active scheme tries to get a piece of the pie. If everyone has gotten a piece it runs again to serve the second round. As a result, if you only have one active scheme you can only get one piece. 

Think about it like a lottery; the more tickets you have, the higher the odds of winning. You can set up a maximum of 10 schemes and I would recommend you to create all 10. I mean, why not? If you have a large amount of money to invest, make sure to set a high “Investment amount per loan”.

As you can see on the picture below, I have 10 schemes ranging from 10-100€. I included Extended and Delayed loans as well. They come with a Buyback guarantee after all.

Swaper auto invest schemes- financially free

I had my 2.688€ invested in 2 days. However, I watched the Manual Invest section like a hawk and managed to grab 1.162,52€ worth of loans manually.

Most of the loans I got have a 30 day loan term but I also caught a few with 9, 10 and 12 month loan term.

According to support, new loans are added to the site 5-10 times per day on average.

Selling loans

If you, for some reason, want to sell your loan pieces again you can do so quite easily. List them on the secondary market and they will be sold almost instantly. You can have your money back in your bank account within a few days.

No fees

There are no fees on Swaper. Selling loans or withdrawing money is done free of charge.

The verdict

I have high expectations for Swaper. All in all, it has been quite easy to get going. I’m definitely upping my investment to 5.000€ in the near future to get the VIP status and an extra 2% income on all loans. A 14% “guaranteed” interest is quite compelling, I’m not gonna lie.

I wonder why they even have an Auto Invest feature though. In essence, two buttons would be sufficient; Invest or Withdraw. I guess they’re just doing what everyone else in the industry is doing and I cannot blame them for that. It works pretty well after all.

Do you have experience or comments on investing on Swaper? Let me know in the comments below!

3 Replies to “Swaper review”

  1. Most of my Swaper loans are always delayed for 1-2months (maybe even more), A lot of money is not beeing invested as there is not enough new loans. Me personally would stay away from Swaper as I don’t see them staying afloat for long (probably will go under due to unpaid loans from lenders or scam people)

  2. Hi AZ,

    If you follow my guide to setting up Auto Investing you will not have any problems getting new loans.

    Wandoo Finance is a relatively new company, founded in January 2016. However, they have experienced employees from Twino and similar competitors. I would expect they use similar methods for screening borrowers before lending out money. If they can survive in the long run, only time can tell.

  3. Hi Jørgen,

    Reading your article made me realize that there was a secondary market, something I didn’t notice earlier !

    One minor aspect than annoys me is the color scheme used for toggle buttons (in auto-invest screen, for example). Since when does a red color mean “on” ?

    On a more important note, I thank you for your trick regarding auto-invest. I just created several auto-invest profiles, and will let you know if all my funds finally get invested !

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