Any payments you make into your Moneybox account are debited from your linked bank account, which must be a UK current account held in your name.
You can pay in up to £85,000 total into each account, which is also the maximum amount which can be deposited at once.
You can add funds to any of our savings accounts via our weekly payment cycle. Any funds you add to your upcoming collection in the Home tab are ‘collected’ from your Moneybox account on Wednesday, then debited from your linked bank account on Monday, and added to your balance that evening. You can just make one-off deposits, or you can add recurring payments, and your payment settings can be changed in the Settings tab of the app at any time.
Alternatively, you can deposit £100 or more instantly via an easy or manual bank transfer.
To make an easy bank transfer, just head to Wealth > Select account > Add money. You’ll be redirected to your banking app to authorise the payment, and once processed, you’ll see the money added to your balance within minutes (please note this can, on occasion, take up to 24 hours). You’ll then begin earning interest on the next working day.
For manual bank transfers, you can send payments of £100 or more directly from your linked bank account. Just head to Wealth > Select account > More > Manual bank transfers to find the payment details for your product, then send money via your banking app using these details.
You can find out more about how easy and manual bank transfers work here.