What is Moneybox?
Launched in 2016, Moneybox helps you achieve your financial potential by making it easier than ever to save and invest. You can set up an account in minutes and get started with just £1. Money can be added via round ups, one-off amounts and regular weekly or monthly deposits.
Your savings will accumulate throughout the week into your upcoming collection total. Every Wednesday these savings are collected, debited a few days later, and then either invested according to your chosen investment option; or added to your savings account, depending on the account you have open 💸
What accounts do you offer?
ISA ✨
An Individual Savings Account (ISA) is a government scheme which allows you to hold cash, shares and unit trusts free of tax on dividends, interest and capital gains. There is an annual contribution limit of £20,000 per tax year, which is shared between any ISAs you hold.
Moneybox offers both a Stocks & Shares ISA and a Cash ISA. With our S&S ISA, you can invest in tracker funds, ETFs and US stocks, and you can get started with as little as £1.
The Moneybox Cash ISA can be opened with a minimum first deposit of £500, or by transferring in an existing ISA. New Cash ISA customers will earn 4.75% AER (variable) on balances of £500 or more, which includes a bonus rate of 0.50% for the first 12 months. A lower interest rate of 0.75% AER (variable) applies whenever your account balance is less than £500, and you’ll temporarily lose the bonus rate until your balance increases to £500 or more.
The General Investment Account (GIA) does not offer any tax-free allowances and does not have an annual contribution limit, although we limit deposits into the GIA to £85,000 per week. The GIA offers similar investment options as the ISA, but doesn't offer the same tax benefits as an ISA.
You are able to make withdrawals from both the ISA and the GIA, and our investment account fees apply.
We also offer a Stocks & Shares LISA and a Cash LISA, which are specifically meant for those 18-39 saving to buy their first home, or for retirement. You can pay in up to £4,000 per tax year, and will earn a 25% bonus free of charge from the government. If you withdraw from your LISA before the account has been open for at least 12 months, and/or to use the funds for a purpose other than buying your first home or retiring, a government penalty will apply.
Any funds paid into the Stocks & Shares LISA are invested according to the investment allocation you choose during registration. The Cash LISA is a savings option which doesn't involve investment and has a rate of 5.00% for new customers – this includes a 4.00% AER variable interest rate, plus a 1.00% bonus interest rate for the first year.
As with all our investment accounts we offer, our standard fees apply to the Stocks & Shares LISA.
We also offer a 32 Day Notice Account, which is powered by Investec and has an interest rate of 4.66% AER (variable).
You’ll need to give us 32 days’ notice to make a withdrawal. Withdrawals can be requested at any time, and your funds will continue to earn interest during the 32 day notice period.
Our 95 Day Notice Account is powered by Investec, and currently has an interest rate of 4.96% AER (variable). For any withdrawals, you'll need to give us 95 days' notice, and your funds will continue earning interest throughout the 95 day notice period.
Our Simple Saver is a savings account powered by Santander International. You can pay in up to £85,000 overall, and your savings earn an interest rate of 4.00% AER variable. You can make up to one withdrawal per calendar month, and any withdrawals are paid out to your bank account on the next available working day
Say goodbye to old-fashioned snail mail and financial jargon. We've made it simple to bring all your old pensions in one place, see how much money you've got, and to take control of your money and plan your financial future!
We also offer Moneybox Mortgage Advice for customers looking to buy or re-mortgage a home - find out more here! 🏠
Why should I trust Moneybox?
We may not have been around as long as some others, but we feel we’ve gone some way to earning your trust.
We are authorised and regulated by the Financial Conduct Authority (FCA) with firm reference number 712935. The FCA imposes some very strict systems & controls requirements on all its regulated firms – including us!
We are registered as a Data Controller with the Information Commissioner’s Office with registration number ZA130953 and we adhere to the provisions of the Data Protection Act 1998 and other relevant data protection regulations.
We take your data security extremely seriously and adhere to the most rigorous industry standards, including 256-bit, bank-level encryption for the transmission of sensitive financial and personal data. We regularly engage IT specialists to thoroughly test and audit our systems.
Finally, we’re friendly! The team are on hand seven days a week from 9am - 5pm, and you can send us a message directly through the Moneybox app with any questions you may have 😊