Below are some key questions with answers about BeePlus to make it easier to understand how everything works and what that everything roughly is.
What is BeePlus? BeePlus is an easy to use service helping you as an investor at the Bondora platform to achieve a fine-grained control of your portfolio.
How does BeePlus work? BeePlus uses Bondora's API, which is basically a way for systems to communicate with eachother, to analyze possible investment opportunities and request Bondora to do actions on your behalf. Automatically.
What can I do with BeePlus? As of now, BeePlus can place requests for investing into loans on Bondora's primary market and can buy/sell your loans on the secondary market.
How does BeePlus differ from Bondora's Portfolio Manager? Using Bondora's Portfolio Manager (PM) you as an investor do not have much of a control over your portfolio. Only Bondora (with some broad limitations) decides what investments are good or bad for you. Using BeePlus you have much more control (as much as Bondora allows) over choosing investment opportunities hopefully of increasing returns and decreasing unnecessary risks within your portfolio.
How much does it cost to use BeePlus? BeePlus is totally free for the first 30 days after registration. After that it has a monthly billed fee. Each invoice consists of a 1.9€ fixed fee in addition to 0.9% purchase transactions fee from the total amount of successful transactions performed by BeePlus within that period on your behalf. Selling loans on BeePlus is free.
How is transactions fee of BeePlus calculated? Transactions fee is calculated for each invoice period by combining all successful purchased investment amounts on primary market, on secondary market and then taking 0.9% from that total sum.
What happens after trial period ends? If you have entered your payment details before trial period end or after it happened, then you will be issued an invoice consisting of the fixed fee, which will be billed automatically. Transactions fee will be zero on that invoice. After that everything will work in BeePlus as it worked during trial period and you will be issued another invoice after 30 days has elapsed. However, if you have not entered your payment details by the end of trial period, then all your rules will be disabled and you will not be charged anything.
When does BeePlus charge money from me? For the first time BeePlus will charge only fixed fee without any transactions fee after trial period has ended. After using BeePlus service for another 30 days, a new invoice will be created with a fixed fee and transactions fee for that period. You will be notified via e-mail for each invoice and they will be charged automatically about 48h later to give time for possible disputes.
How does BeePlus store my payment details securely? BeePlus does not transmit or store any of your private payment details on its' server. Instead a secure 3rd party payment processor service is used and only minimum set of details are accessed for performing automatic payments.
How can I change my payment details? You can change your payment details by cancelling your subscription and then re-enabling it within 6 hours.
How can I stop using BeePlus service? If trial period has not yet been expired, then you can just stop using BeePlus and not worry about it anymore. However, if you have used it after trial period expiration and entered your payment details, then you can stop using the service by going to subscription settings and click a button for the service usage cancellation. Last invoice will be generated for the used period and you will be charged a regular fixed fee and all the transaction fees accumulated from last paid invoice. After that you can stop using BeePlus and it won't charge anything from you from that point forward.
How can I continue using BeePlus after I have stopped using it? Just enter your payment details and continue using BeePlus like you did when you first started using it. If there is less than 6h between stopping and starting of service, then there will be no invoices created for you for stopping it as if you've not stopped using it. This also allows you to change your payment details without any cost if need arises.
How can I invest into same loan/borrower more than once with BeePlus? By default, BeePlus does not invest into same loan/borrower more than once by each rule. If you want to invest more than once into same loan then you just need to clone some of your rules. For example, if you'd be willing to invest up to three times into same loan (for having smaller loan parts for example) then you need to clone one of your rules three times and let BeePlus take care of the rest.
Does BeePlus also support any other platforms in addition to Bondora? No, currently BeePlus supports only Bondora. I'm not aware of any other P2P platforms offering public API yet, thus supporting any other platforms is not possible at this moment. This, however, might change in the far future. You can always let me know if you see any platform and would like BeePlus to support it too.
What if there are any unanswered questions regarding BeePlus? If you didn't find answers to your questions then do not hesitate to write to us at firstname.lastname@example.org and we will try to answer all of these questions as soon as possible.