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How much can I pay into my Lifetime ISA, and how do payments work?

Written by Zunera
Updated over 2 weeks ago

You can currently deposit up to £4,000 into your Lifetime ISA (LISA) each tax year, which counts towards your overall annual ISA allowance of £20,000. You can check how much of your annual allowance you have left by heading to Wealth > £20K ISA allowance in the app 👍.

There are a few different ways to pay into your LISA with Moneybox:

  • From your linked bank account: You can set up weekly collections of as little as £1 via Direct Debit, or make one-off instant payments of £100 or more via easy or manual bank transfers in Home > Add money.

  • Move money: It's possible to move up to £4,000 (or your remaining allowance) per tax year from a Moneybox Cash ISA or Stocks & Shares ISA into your LISA in Settings > Move money between accounts.

  • Transfer in from another provider: You can transfer in an existing ISA or LISA (including Help to Buy ISA) held with another provider. To request a transfer, just head to Settings > Transfer in an existing ISA.

  • Home-buying gift (Cash LISA only): If you have a Moneybox Cash LISA, up to four people can gift you a total of £2,000 per tax year using your gift link, which can be found in Settings. Each person can contribute a maximum of £500, and these gift deposits count towards your LISA allowance.

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