Evestor Customer Information Page

Last Updated 22 November 2023, 7:45AM

22 November

Hello everyone, our teams have now started the work required to move your account to Octopus Money. We really appreciate your patience as everyone here works as fast as we can to set up your new account and safely transfer your funds.

You should receive an email today (22 November) to set up your new Octopus Money account.

We’ve designed a special migration process for your account that ensures your investments will not have to be sold and that your fees will not change. But a transition like this is complex and it may take a few weeks for you to see your funds in your new account. We understand how frustrating it is not to be able to see your money, but rest assured that your money is safe, it’s still invested in the market and it’s protected by the FSCS.

One last note: the Financial Conduct Authority requires us to do identity checks for all customers joining Octopus. These are the same “soft search” checks that are carried out by all financial institutions in the UK. In some cases (like if you’ve moved house recently), we may need more information from you and you’ll receive an email from our partner, NorthRow. Please complete this verification ASAP (by 29 November at the very latest).

We’ll keep you updated on any new news as soon as we have it. 

08 November

We’ve added information on how we verify the identities of customers.

06 November

We’ve added more details on what you can expect once we start the process of moving your account to Octopus on 22 November.

Evestor customers now have a new home with Octopus Money. We’re excited to welcome you to the Octopus family.

Octopus Group serves over 5 million customers across the UK and manages over £12.8bn* of investments – and most importantly, our customers rate Octopus Money 4.8 out of 5 stars.

Evestor is closing down its investment services and customers’ accounts will be migrated to Octopus Money.

Joining Octopus

Who’s Octopus Money?

Octopus Money is on a mission to help millions of people turn their life dreams into reality by making more of their savings, investments, pensions and more.

Through a mix of real, friendly people and really clever technology, we help you connect the dots between the life you want to live and the choices you make with your money.

We’re a certified B-corp – and yes, our famous sister is green energy game-changer, Octopus Energy.

We’re excited to help you invest your hard-earned money and introduce you to all of the ways we can help you make your money go further.

What happened to evestor?

Evestor recently announced they would be closing down their investment and pension services. So, in recent months, they’ve been working to find a safe and secure home for their customers. After a thorough review process, Octopus Money has been selected as the best partner for this transition.

Is my money safe?

Yes! Your money will be in safe hands. Octopus manages over £12.8bn* of investments. There’s also an established process for moving money from one investment firm to another so your money will be secure as it moves to Octopus Money. In addition, the Financial Services Compensation Scheme (FSCS) protects your money, up to £85,000, in the event that your investment firm fails.

Is my data safe?

Yes! We are dedicated to keeping your data safe, throughout the migration and whilst it is in our care. Our Privacy Policy can be found here, which will give you more information on how we will work to keep your data safe.

What if I don’t want to move to Octopus Money?

Unfortunately, the opt out period is now closed. But once your account is moved to Octopus Money, we’re happy to help you transfer to a different provider.

What if I want to keep my money with evestor?

Unfortunately, this is not an option because evestor’s investing operations are closing down. 

If I move to Octopus Money, will I be required to stay with Octopus?

We hope you will! But you are always free to withdraw or transfer your money somewhere else after you move over to Octopus Money. 

Is there anything else you’ll need from me before you move my account?

The Financial Conduct Authority requires that we verify the identity of all customers who are moving to Octopus Money. To do this, we will run what’s called a “soft search” that you may see appear on a credit report. Rest assured, that “soft searches” like this have no impact on your credit score or any future credit applications you might make. In some cases, we may have to ask for additional information, such as a picture of your driving licence or your passport. You’ll receive a special email from us if this is required.

Understanding our service

What are the differences between the service I get from evestor and the service Octopus Money offers?
evestorOctopus Money
Service Online portal
Mobile accessNative mobile appMobile-optimised
web app
Will there be any changes to the fees I pay?

We believe that investment costs should be simple, transparent and affordable. We review our charges annually and are committed to keeping the fees you pay the same or lower for at least 12 months.

After your investments are transferred, we’ll send you a statement that shows exactly how much you will be charged for us to look after your money over the next year. There may be some changes to the way VAT is charged on your investments, which will also be included in this statement, but the total amount you pay won’t be any higher than you pay now. If you have questions in the meantime about what this means for you, then please get in touch.

evestorOctopus Money
Average Fee0.65%0.65%
Example Annual Fees
If you invest £10,000£65.00£65.00
If you invest £100,000£650.00£650.00
Will I still be able to access the regulatory documents related to my past investments?

We recommend that you download any historic documents you want to keep from your account as they will not be transferred to your new Octopus Money account.

Will I have access to any other services when I join Octopus Money?

Yes! At Octopus Money, we’re building more services to help people at lots of big moments in their life. There’s lots of exciting stuff in the pipeline and you’ll get access to all of that as a customer. It will take a bit of time for us to transition you and get full access. But we promise it will be worth the wait!

Your evestor account

What will happen to my access to the evestor account and app?

You will keep access to your account until the transition to Octopus Money begins on 22 November 2023. At that point, we will begin the process of migrating your investments to Octopus Money. There may be a short period of time while your account is being migrated when you won’t be able to see some details of your investments. We will send you an email with details to login to your new account.

What will happen to my Direct Debit?

Your regular contributions to your investing account can continue when you move to Octopus.

On 23 November, your Direct Debit with OpenMoney will be paused.

You’ll be able to turn your Direct Debit back on once your new account is fully set up with Octopus Money.

What if I want to make a one-off deposit into my account?

Starting on 23 November, you’ll no longer be able to make deposits into your evestor account.

Once your account is fully migrated to Octopus, you’ll be able to make deposits again as normal.

What if I need to withdraw or transfer any money?

Between 22 November and mid-December, we’ll be migrating your account, so you won’t be able to withdraw or transfer money.

Your money will be in safe hands and will continue to be invested during this period.

If you already know that you’ll need to withdraw your money during this period, please contact OpenMoney support to withdraw it now (this must be done before 21 November).

Getting help

Who can I speak to about this transition?

Hopefully, we’ve answered some of your questions already. But our team at Octopus Money is ready and happy to help answer any other questions you have about the transition.

Email us to get prompt, friendly help with your questions.

Or, if you prefer, you can call us on 020 3195 4455. Our lines are open Monday through Friday, 9:00am-5:00pm.

*Includes undrawn commitments, funds under advisory mandates and funds monitored as of 30th June 2023.

Octopus Money Limited is an appointed representative of Octopus Investments Limited which is authorised and regulated in the UK by the Financial Conduct Authority. Registered office: 33 Holborn, London EC1N 2HT. Registered in England & Wales under No. 14069098.

Octopus Money is a trading name of TW11 Wealth Management Limited. Registered in England and Wales (No. 10339119). Authorised and regulated by the Financial Conduct Authority. Our Financial Services Register number is 763630.

As with all investing, your capital is at risk. If you choose to invest with Octopus Money, the value of your investments can go down as well as up and you may get back less than you invest.