Ratesetter.com.au

UPDATE:
The company has returned my wife's money. They've improved substantially since changing their name to Plenti. Under the new brand, there are new markets to invest in, and the site is much more user friendly. As a result, I am quite happy to change my 1-star review to a 4-star review.

This company is misappropriating my wife's funds and reinvesting them without her consent (against her instructions) and against their own PDS terms - "Funds on loan in the 1 Month Rolling market will not be reinvested, but will be returned to your holding account when one or more replacement funders are available". Her reinvestment settings are set to return all funds to holding account. They had no right whatsoever to reinvest her funds (at a much lower market rate) against her consent, and against their own terms of service.

They have also recently changed their PDS with the sole purpose of misappropriating their investors' funds without giving them the option to alternatively withdraw them. This company is immorally scamming their customers during a health crisis to benefit themselves. That's what it comes down to.

If you are facing the same issues, please contact AFCA (Australian Financial Complaints Authority) / ACCC and ASIC. Our story will be forwarded to the TV Show 'A Current Affair'.