ClinkApp investing reviews: Scam or Legit? How it works

ClinkApp investing reviews: Scam or Legit? How it works
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This article explains the ClinkApp investing reviews, how it works, and whether it is legit or a scam. Stay with us!

Clink up is a micro-saving app designed to make saving easy Clink automatically transfers money from your account to your clinic account and invests it on your behalf.

That way you don’t get to do saving and investing yourself has several advantages and it only cost $1 per month up to the first $5000 in managed and 0.25 of asset under management. 

Clink is keen on helping you and me invest our money. It keeps the money in an ETF portfolio. Here the money grows without any hitch. 

What people have got say about ClinkApp has been a mix of positive and negatives. Let’s delve into the review 

Read: How to Start Investing Money for the First Time

Legit or Scam- ClinkApp investing reviews

Clink is an investment app with great features. It is a legit app created by Eyal Fruchtman. He is the CEO and founder of clink who has 17 years of experience in the finance and tech space. 

Clink started in February 2014 and ran in beta for two years prior to its official launch in January 2016. Clink is “for anyone who is looking to build a more financially secured future at any age,” the majority of current users are between 20 and 35 years old. 

It is a very straightforward app it seeks to help young people save and invest money. The services are totally free as well as customizable Clink has been featured in the Forbes article of the best investment apps. 

Clink is available as a free downloaded on the google play store. It has been downloaded over 10 thousand times. It has a 3.7-star rating and has been reviewed by 230 people and above. 

ClinkApp investing reviews: App Overview 

The app has a place for you to sign up and log in. There is a video up on the page that shows you exactly how the app works. The video is a guide to set up a saving and investment schedule that’s complete to your taste 

You get to control the amount of money taken out of your account and at what time of day. 

Clink from the review is fairly neat and not clunky at all. I think the most attractive about clink is that it helps people save. The leisure of setting it up and just forgetting about it was really attractive to me. It is also easy and pretty effective if you want to save money without doing much. 

Read: 15 Real Estate Investing For Beginners In 2022

Granted, the app isn’t perfect… and some people may disagree with how the money is invested or handled. But the ETFs are all managed by Vanguard, who seems to be an industry leader as far as I can tell—so it seems to me that your money would be in good hands with this app. 

How Does It Work 

Is clink app easy to operate is a question that people often ask. The app has basic options such as register, social security number , bank for you to fill out. Then there is your personal information section to fill out as well.

They are easy questions except for questions about your finance that you can find uncomfortable. 

 These questions are a necessity you have to include information about your financial situation and your social security number date of birth phone number employer name and so on you can either link your credit or debit card to the app. 

It doesn’t matter what kind of lifestyle you are living. Clink helps to simplify investing for everyone using bank-level security measures to protect the personal information that too for maximum protection.

Sensitive data is encrypted using SSL and 256-bit encryption 

Clink doesn’t store any of your information. Your credentials are used to authenticate your identity and verify who you are. 

Your banking credentials are used only once to authenticate and verify that the account belongs to you. All credit card information is stored by Envestnet, a leading provider of unified wealth management technology and services to investment advisors.

If using an Apple iOS device and your device supports Touch ID you can enable it for more protection. 

Read: What is Thematic Investing? How it Works, Pros and Cons

Pros And Cons of ClinkApp Investing

These are the advantages and disadvantages of ClinkApp investing.

Cons 

Limited Account Type- If you have a retirement account such as IRA or Roth IRA, Clink can be restricted. 

No tax-loss- Clink does not offer tax-loss harvesting services to boost after-tax returns like Betterment and wealth front 

No Automatic Rebalancing- Clink does not automatically rebalance your portfolio as some digital advisors sometimes do  

Pros 

  1. Low Monthly Charge- Clink monthly cost is a low $1 monthly up to $5000 or 0.25%. Clink automatically saves money and invests it on your behalf. 
  2. No Lost Activation- You don’t need to deposit a dime to open an account with clink however a minimum is needed to get investing started 
  3. Diversed Portfolio- Six exchange traded funds feature in clients portfolio and they include stock bond, emerging market, european and inflation protected. 
  4. Low Expense Ratio Funds- Low expense ratio funds from Vanguard are used for client portfolios 
  5. Automatic Savings- You can save automatically the cash you have in your existing bank account by setting a calendar date when transfers take place or by linking to your credit card and saving a percentage of each dining experience. 
  6. Lump-Sum Investments- if you want to boost your nest-egg, you can make a lump sum deposit with a daily limit of $10,000. 
  7. No Hidden Fees- ACH transfers are free and, other than a penalty fee for returned ACH transfers, no other fees beyond management fees apply 
  8. Makes Saving and Investing Effortless- You can automatically schedule funds to be added by selecting the amount and specific dates you would like to move money from your checking account into your Clink account. You can also schedule a percent of your spending (every time you shop or dine with your credit card) to be added to your Clink account after transactions. 

Customer Satisfaction 

There are many great comments for Clink App and a few dissatisfied customers. 

One customer says “I have had this app for a few days but I like it each day. Questions are answers quickly and the people are friendly”  

Many customers think Clink can do better 

Another says” Clink provides great service. However, the app is just okay… I like the simplicity of the portfolio section but it would be nice to see how my investment is doing good or bad. 

But all in all it’s a great app. Remember to read, understand and ask questions so you won’t end up losing in the long run. 

Read: Saving vs Investing: When to Choose & How to Do It

HOW TO SAVE EACH TIME YOU BUY 

By linking your credit card to Clink, you can specify that you want to save a percentage of each dining experience. For example, each time you buy tacos, you could decide you want to save 10% of the purchase price. 

Once you have selected how you want to save, Clink does the rest so you can be hands-off – your savings will be invested automatically 

Conclusion 

Clink App investing Review gives us great insight into how the company works. The good and bad. It’s not perfect but could definitely flourish into something worthwhile. 

References 

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