Mintos Invest & Access review
Read our Mintos Invest and Access test to learn if you should use the feature:
Last updated: April 30, 2020
Mintos is, in our opinion, by far one of the best P2P lending platforms in Europe. They outnumber all competitors in terms of volume with their 100,000’s active investors. Not only that, but they are also on the cutting edge, when it comes to adding new and exciting features to their platform.
In June 2019, Mintos introduced Invest & Access as a new and easier way to invest money in the loans on their marketplace. This Mintos Invest and Access review do only go into the details of the specific feature. If you’d rather want to get an overall better picture of Mintos, you can read our complete review here.
By reading this post, you will get a deeper understanding of what Invest & Access is, how to use it, and whether or not you should use it instead of some of the other features. Let’s dive into it!
What is Mintos Invest & Access?
Mintos Invest & Access is a way to invest in loans on the Mintos marketplace. It was introduced in June 2019 and is a substitute for previous methods of investing in loans on the marketplace. Before Invest & Access, investors could only use auto-invest and manual investment (see a comparison of the 3 methods).
The most important option that investors got with Mintos Invest & Access is the possibility to quickly cash out their invested funds before the investment reaches maturity. If an investor wants to withdraw money, the tool automatically sells current loans to other investors and credits the money to the investor’s account.
According to Mintos, as of July 2019, more than 80% of cash withdrawals from Invest & Access to investors’ Mintos accounts happened in the timeframe of 24 hours.
Facts about Invest & Access
In the following, we go over some of the main facts that you need to know about the feature:
- It only invests in loans with BuyBack Guarantee
- You can’t change the diversification of you Invest & Access portfolio
- Possible to manage Invest & Access from Mintos mobile app (Since April 2020)
- If you want to cash out, late loans won’t be sold automatically, but you can do so yourself on the secondary market
Frequently asked questions
In the following, we have collected some of the questions we had regarding the feature, as well as some of the questions received from other users:
Can I decide a minimum interest rate?
This is not possible with Invest & Access. Your return will be based on the loans the feature automatically invest in. If you want more control, maybe try out auto-invest instead.
How much does Mintos Invest & Access invest in each loan?
In our experience, the amount that is invested in each loan is in the range of around €1 to around €100.
How long does it take to cash out?
The amount of time it takes to cash out is directly dependent on the demand by other investors. Usually it takes around 24 hours to cash out. But in events such as the recent COVID-19 outbreak, the demand for Invest & Access loans can be lower. Here, it can take as much as a few weeks to cash out.
How to use Invest & Access
In order to use Mintos Invest & Access, you must log in to your account (or register). From here, you can click “Invest” and then click “Invest & Access”. You will then be met with the following screen:
By simply entering the maximum amount of money you want to invest, accepting the agreements, and hitting “Invest”, your Mintos Invest and Access portfolio will be set up.
You will then be met with a dashboard like this:
The dashboard will generally give you a great overview of how much you have invested in your Invest & Access portfolio.
If you look at the top right corner of the screen, you will have the following options:
If you click stop investing, there will no longer be added loans to your Invest & Access portfolio. Basically, it means that Invest & Access is pausing the reinvesting, without cashing out. The remaining investment in the paused portfolio still continues to earn interest.
All you need to do to stop pausing the portfolio is clicking “Resume investing”.
By clicking “change target”, you can change the maximum amount you want Invest and Access to invest.
This is especially useful, if you are using other strategies like custom auto-invest strategies or maybe even want to do some manual investing yourself.
If you want to cash out on your investments, all you need to do is hitting the cash out button. From here, you can enter the amount of money you wish to cash out and then click “Cash out”.
Adding more money works exactly as you would normally add funds to your account.
Mintos Invest & Access vs Auto-Invest
Something that might interest the most of you is how Invest and Access compare to auto-invest and manual investing. The following is a representation of exactly this (kindly borrowed from Mintos website):
Manual investing is the hardest and most time-consuming way of investing on Mintos. And with the types of loans found on Mintos, we don’t recommend it. So in the following, we will only take a look at how Invest and Access compare to Auto-Invest.
Without comparison, Invest and Access is the easiest to use. As illustrated previously in this Mintos Invest & Access review, it only took a few clicks to get started. With Auto-Invest, you more likely have to set aside in the range of +20 minutes before you get to the point where you have defined a strategy and checked all parameters.
One of the main issues with Mintos Invest & Access is that you can’t influence the overall return of your portfolio by defining a minimum interest rate. Here, you will just get somewhere the average of what can be found on the Mintos marketplace.
Overall, Mintos Invest & Access is very basic and doesn’t allow you to get very creative with your strategy. In fact, you can’t change a tiny bit except how much you want to invest. Therefore, if you want to make anything custom you should go with the Auto-Invest.
However, one of the things you won’t have to deal with if you use Invest and Access instead of Auto-Invest is actively adding new loan originators to your strategy as they are added to the platform. This happens automatically with Invest and Access.
But for beginners and investors that just want the most hands-off investment experience, Mintos Invest & Access would be our go-to strategy. However, if you want to make any customizations to your strategy, you should go with auto-invest instead.
Not signed up on Mintos yet? Then click the button below to create an account and start investing on the platform: