Moneybox offers a few different ways to save and invest. You can use round ups to add money to all of our accounts, and you can also pay in via one-off, weekly and monthly deposits.
It's worth noting that our investment accounts (Stocks & Shares ISA, GIA Stocks & Shares LISA, and Pension) are designed for the longer term investment (minimum of five years). Our account fees also apply to our investment products - for more information on fees check out our ‘What are the fees?’ article.
Here's an overview of the accounts we offer:
🌟 An ISA (Individual Savings Account) allows you to deposit money and earn interest or investment gains, completely tax free. You can deposit up to £20,000 per tax year, and this limit is spread across all of the ISAs that you own.
We offer a Cash ISA, a Stocks & Shares ISA, as well as two types of Lifetime ISA (please see below). Our Cash ISA can be opened with a minimum first deposit of £500, or by transferring in an existing ISA, and offers an interest rate of up to 5.09% AER (variable).
New Cash ISA customers will earn up to 4.75% AER (variable) on balances of £500 or more, which includes a bonus rate of 0.50% for the first 12 months. If your account balance dips below £500, a lower interest rate of 0.75% AER (variable) will apply. You’ll earn a higher rate again once your balance increases to £500 or more.
There’s no limit to the number of withdrawals you can make, but if you make 4 or more withdrawals within each 12-month period from the date of opening your Cash ISA, you’ll receive the lower rate for the rest of that period, and lose the bonus rate if this is within your first 12 months. The number of withdrawals you can make without impacting your rate will reset yearly on the date you opened your Cash ISA.
We also offer a Stocks & Shares ISA, which allows you to invest your money in a broad range of tracker funds and ETFs, as well as some of your favourite US companies!
📈 Our GIA (General Investment Account) works in a similar way to our S&S ISA - allowing you to invest in the same range of tracker funds and ETFs. The GIA does not have any tax benefits, however there is no limit to the amount you can hold in the account and you can pay in up to £85,000 per week.
🌠 If you’re aged 18-39, you may be interested in the Lifetime ISA. This allows you to put away up to £4,000 a year towards a first home or retirement with a 25% bonus applied to any contributions. We offer a Cash LISA and a Stocks and Shares LISA - please see the LISA section of the Help Centre to find out more.
✨ The 32 Day Notice Account is a cash savings account with an interest rate of 3.75% AER (variable) and a 32 day notice period for withdrawals. We also offer a 95 Day Notice Account with an interest rate of 4.00% AER (variable) and a 95 day notice period for withdrawals. Our 120 Day Notice Account has an interest rate of 3.98% AER (variable) and a 120 day notice period when you request a withdrawal in-app.
🌌 We also offer a savings account without a notice period - the Simple Saver. This account offers an interest rate of 3.00% AER (variable) and you can make up to one withdrawal per calendar month, which is paid out on the next available working day.
⭐Our Personal Pension lets you 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!
If you’re looking to open a Junior ISA for your child, this is currently available to existing Moneybox customers. If you’re an existing Moneybox customer and you’re on the latest version of the app, you can open a JISA in the ‘Accounts’ tab. Just tap on Junior ISA in the list of accounts, and you’ll be good to go!