Last Updated 13 December 2023, 4:45PM

13 December

Good news! Your funds have reached your account safe and sound, so when you login you’ll be able to take a look around your new Octopus Money account.

When you login, we’ll need you to provide a few more details and check over our terms to complete the setup of your account.

Once you’re in, we’ve included a link to our help centre, where you’ll be able to find lots of information about your Octopus Money account, your funds and our service.

Our work isn’t done yet, we’ll be working to constantly build more features and better ways for you to manage your money. But we’d like to thank you for your patience throughout this process so far.

We can’t wait to show you more ways we can help you with your money over the weeks and months to come.

11 December

Hi everyone, we’ve now completed identity checks for most customers and finished preparing all of the data we need to safely transfer your account. On behalf of everyone at Octopus Money, we really appreciate your patience as we’ve worked through these important steps to make sure your transfer happens safely and securely.

We’ve now officially started the process of moving your money from your old OpenMoney account into your new Octopus Money account. While this transfer happens, you will temporarily see a £0 account balance in both your old account and your new account. We know it’s alarming to see a £0 account balance, but rest assured that all of your money is being transferred safely and continues to be protected by the Financial Services Compensation Scheme (FSCS).

We also want to remind you that we’ve designed a special transfer process which means your money will remain invested as it moves and never be “out of the market” – that means you won’t miss out on any market movements.

The transfer will complete in the next few days and we’ll email you to let you know when your money has landed.

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.