Moneybox - Save and Invest

Editor's Review

Investing and saving can often feel daunting, but with Moneybox, it’s designed to be simple, accessible, and even enjoyable! 🤩 Whether you’re saving for your first home, planning for retirement, or just looking to grow your money, Moneybox offers a range of tools and accounts to help you achieve your financial goals. Let's dive into what makes Moneybox a standout choice for managing your money. 🏦

Grow Your Money Through Investing 📈

With Moneybox, you can start investing with as little as £1! The app provides simple starting options and a diverse range of funds. Choose from cautious, balanced, or adventurous options, and let Moneybox handle the rest. Your savings are split between tracker funds, allowing you to invest in thousands of leading companies worldwide, including giants like Facebook, Netflix, and Disney. 🌍

For those who are socially conscious, Moneybox offers a socially responsible global shares fund. This fund considers environmental, social, and governance factors in its selection process, ensuring your investments align with your values. 🌱

Save for Your First Home 🏠

Dreaming of owning your first home? Moneybox’s market-leading Lifetime ISA (LISA) is here to help. Save up to £4,000 per year and receive a 25% government bonus, potentially earning up to £1,000 a year towards your first home. 🎁 When it's time to buy, Moneybox offers free Mortgage Advice, connecting you with over 90 lenders to find the perfect mortgage for your needs. 🔑

Find and Combine Your Old Pensions 👴👵

Retirement might seem far away, but it’s never too early to start planning. Moneybox offers a Personal Pension to help you build a retirement fund worth waiting for. Their Pension Detectives can track down your old workplace pensions and combine them into one simple pot, making it easier to manage your retirement savings. 🔍

Make Saving and Investing Part of Everyday Life 🗓️

Moneybox makes saving effortless. Set up regular weekly deposits, monthly payday boosts, or round up your everyday card purchases. For example, if you buy a coffee for £2.40, you can round it up to £3 and save the 60p change. Small amounts add up over time! 💰 You can also make one-off deposits whenever you like, giving you full control over your savings. 🕹️

Trusted and Transparent ✅

Moneybox is authorized and regulated by the Financial Conduct Authority, ensuring your money is in safe hands. Your savings and investments are covered by the UK government’s Financial Services Compensation Scheme up to £85,000. 🛡️ Moneybox charges a simple £1 monthly fee and 0.45% of the value of your investments per year, with fund provider costs ranging from 0.12% to 0.30%. The subscription fee is waived for the first three months to help you get started. There are no account fees for the Cash Lifetime ISA. 💸

Moneybox uses bank-level 256-bit TLS encryption to protect your personal information, ensuring your data is secure. 🔒

Features

• Stocks and Shares ISA, Lifetime ISA, Junior ISAs

• Personal Pension, Savings accounts and more

• Lifetime ISA Calculator, ISA Time Machine tools

• Round up everyday purchases to save spare change

• Three simple starting investment options

• Socially responsible investment options

• Find and combine old pensions easily

• Free Mortgage Advice from over 90 lenders

Pros

• Simple starting options with investments from £1

• Market-leading Lifetime ISA for first-time home buyers

• Free Mortgage Advice from a wide range of lenders

• Pension Detectives to find and combine old pensions

• Award-winning customer support

• Savings and investments covered by the FSCS up to £85,000

Cons

• Investment values can fluctuate

• Early withdrawal charges may apply to Lifetime ISA