App works well so far
But the high default rate is concerning.
Only Works if Bonds are actually Paid
The system only works when payments by the issuing entity are complete on time. When a bond payment is missed, it just says “pending” and each month it keeps doing that with little to no communication about the actual missed payment. Some companies have stopped paying years ago and it just says “pending” for each new monthly payment and I have heard nothing about it.
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Transfers take forever
Beware…when you want to cash out earnings, they take forever to process the transfer. 12 days and still waiting for the transfer to be processed.
Start-Ups take the money and run
Lately, these start ups and small businesses have had high failure rates and I’m already projected to have lost money.
SMBX doesn’t seem to inquire into the seriousness or commitment of the businesses that they partner with to offer bonds.
Entrepreneurs take the money, operate for a few months, and then close everything while filing for bankruptcy. Bond holders are left with nothing and SMBX has yet to recover any funds through legal action or collections.
SMBX doesn’t seem to inquire into the seriousness or commitment of the businesses that they partner with to offer bonds.
Entrepreneurs take the money, operate for a few months, and then close everything while filing for bankruptcy. Bond holders are left with nothing and SMBX has yet to recover any funds through legal action or collections.
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App doesn’t work
They were sharing banking information by email. I wouldn’t trust them to share financial info.
