Investing

How does investing with Claro work?

08 September 2021 | Posted by Frankie Jones
FT newspaper

If you’re thinking about investing with Claro, you’ve come to the right place! On Claro, you can invest in ready-made portfolios with as little as £10. Here, we’ll explain how it works and what to consider before you get started.

Why invest with Claro?

Before we explain the process, these are some of the reasons why you might like to invest with us:

  1. Choose from 9 ready-made portfolios based on your financial goals, from investments that make a positive impact to ones with a millennial ethos. Each portfolio offers 3 different risk levels so you can find one to suit you.
  2. Each portfolio comes with an ‘impact score’ so you can see the effect your money will have on the planet.
  3. Our portfolios are made up of a mixture of stocks and bonds, so you can trust that your investments are diversified and you won’t be putting all of your eggs in one basket!
  4. Claro’s investments are chosen by experts, and our in-house Investment Director will regularly monitor and rebalance your investments for you.
  5. It’s quick and easy to invest with Claro – it only takes a few minutes to get set up.
  6. Our fees are low and transparent. In fact, you won’t pay fees up to £2,500.
  7. We’re FSCS protected, which means your money is safe in the event of insolvency (up to £85,000).

Step 1: Create your account

Ready to put your money to good use? Great! First thing’s first, you’ll need to download the Claro Money app from the App Store.

Create an account and have a look around – we’ve got loads of handy articles to help you get started.

Then, simply link your bank account to begin your investing journey. Fear not – we get read-only access, so we can’t touch your money.

Step 2: Verify your identity

To keep our app secure, we verify everyone’s identity.

We just need a few details (like your address and phone number) to check that it’s really you we’re talking to. Remember to have your passport or driving licence to hand – either is fine – as you’ll need to take a selfie to prove your identity.

Step 3: Discover your risk level

Before you invest, you’ll need to answer some questions to identify your risk level. This allows us to only show you portfolios you’ll be comfortable investing in. Don’t worry, we have investment products for everyone!

At Claro, we go a step further than most investing platforms and don’t just ask you about your risk appetite; we assess your capacity for risk as well. Your capacity for risk is how able you are to take risk, based on your income, outgoings and debt.

If you don’t have a high capacity (or tolerance) for risk, we won’t show you any products on Claro that we deem to be too high risk for your situation.

Step 4: Open an investment account

You only need to do this once, then you can save and invest whenever you like!

All you need to do is choose the current account you want to pay with and receive money into.

You’ll also need to confirm your:

National Insurance Number

Nationality

Tax residency

Step 5: Choose the right investment product for you

The final step involves adding a goal to invest towards. 

Whether you want to buy your first home or save for retirement, add your goal in the ‘Planning’ tab of the Claro app. (You can create as many goals as you like and choose different investments for each goal.)

Once you’ve done that, it’s time to choose your investment product. We’ve got 9 ready-made portfolios on offer, in three different risk levels, so you can choose which suits you and your goal best. 

Then, just tell us whether you want to invest a one-time payment, or invest on a monthly basis going forward, and our in-house Investment Director will take care of the rest.

Get the Claro app to start your investing journey.

When you invest, your capital is at risk.


Join our waiting list today