Moneybox - Save and Invest
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Information
- Category: Finance
- Price: Free
- Age Rating: /
-
Rating:
4.0
- Developer: Digital Moneybox Limited
- Version: 10.23.0
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Features
The Moneybox app offers a range of features to help users save and invest their money. One of the main features is the round-up feature, which allows users to automatically invest their spare change from everyday purchases into a stocks and shares ISA. The app also offers a selection of ready-made investment portfolios, as well as the option to invest in socially responsible funds. Users can set up regular deposits to their investment account and track their investment performance over time. Additionally, the app provides educational content to help users learn more about investing and personal finance.
Another key feature of the Moneybox app is the ability to set financial goals and track progress towards them. Users can set up different savings goals, such as saving for a holiday or a new car, and the app will provide guidance on how much to save each month to reach these goals. The app also offers a cash Lifetime ISA, which allows users to save for their first home or retirement while earning a government bonus on their contributions.
How to Use
To use the Moneybox app, users first need to download it from the App Store or Google Play Store and create an account. Once logged in, users can link their bank account to the app and set up the round-up feature to start investing their spare change. Users can then choose their investment options, set up regular deposits, and track their progress towards their financial goals. The app also provides educational resources to help users make informed investment decisions and learn more about managing their finances.
Pros & Cons
One of the main pros of the Moneybox app is its user-friendly interface, which makes it easy for beginners to start investing. The round-up feature also makes it effortless for users to invest their spare change without having to think about it. Additionally, the app offers a range of investment options, including socially responsible funds, and provides educational content to help users learn more about investing.
However, one potential con of the app is the fees associated with using it, as there are charges for using the round-up feature and managing an investment portfolio. Additionally, while the app offers a range of investment options, some users may find the selection limited compared to other investment platforms.
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Features of Moneybox - Save and Invest mobile app
The Moneybox app offers a range of features to help users save and invest their money. One of the main features is the round-up feature, which allows users to automatically invest their spare change from everyday purchases into a stocks and shares ISA. The app also offers a selection of ready-made investment portfolios, as well as the option to invest in socially responsible funds. Users can set up regular deposits to their investment account and track their investment performance over time. Additionally, the app provides educational content to help users learn more about investing and personal finance.
Another key feature of the Moneybox app is the ability to set financial goals and track progress towards them. Users can set up different savings goals, such as saving for a holiday or a new car, and the app will provide guidance on how much to save each month to reach these goals. The app also offers a cash Lifetime ISA, which allows users to save for their first home or retirement while earning a government bonus on their contributions.
How to Use Moneybox - Save and Invest mobile app
To use the Moneybox app, users first need to download it from the App Store or Google Play Store and create an account. Once logged in, users can link their bank account to the app and set up the round-up feature to start investing their spare change. Users can then choose their investment options, set up regular deposits, and track their progress towards their financial goals. The app also provides educational resources to help users make informed investment decisions and learn more about managing their finances.
Pros & Cons of Moneybox - Save and Invest mobile app
One of the main pros of the Moneybox app is its user-friendly interface, which makes it easy for beginners to start investing. The round-up feature also makes it effortless for users to invest their spare change without having to think about it. Additionally, the app offers a range of investment options, including socially responsible funds, and provides educational content to help users learn more about investing.
However, one potential con of the app is the fees associated with using it, as there are charges for using the round-up feature and managing an investment portfolio. Additionally, while the app offers a range of investment options, some users may find the selection limited compared to other investment platforms.
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User Reviews
Review Source: Google Play Store
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Great app, easy to use. you can deposit weekly or in lump sums. Supports both lifetime ISAs and Stocks and shares which is great. it only shows gains/losses on individual stocks, but doesn't give this information on index funds. if you have a mixture of stocks and funds it's hard to know how they are individually performing. over all great apart from the above issue.
Brilliant replacement for Microsoft Money. does everything I could ask for and more. The fact that it is web based on my Windows PC as well, is a bonus.
Very good app, loads of information about my cash ISA and the stocks and shares ISA. Both were easy to open and transfer from another provider. Daily interest payments shown, does just what I wanted.
In the final stages of purchasing my first home. The user interface and ease of customisation of bank statements has made moneybox by far the easiest banking platform I used throughout the process. One of the few platforms that offered the LISA at the time when I set mine up to. 5*!!
Great platform to build your Lisa. 25% government bonus plus the daily interest. one downside is you can not add a beneficiary on the account directly. however one can open an account and start saving ASAP to reap the benefit.
Can't login. Just created an account, and it doesn't accept the password I just set. Edit: App doesn't tell you the character limit is 50. Had to go into settings, disable open links in app, and then reset my password through the browser
Really not a fan of the new layout at all. The graph showing your earnings takes up too much space. I just want a basic list of accounts and features like adding money, moving money and withdrawing money to be easy to access. The new layout is messy and confusing, it takes too many steps to just see my LISA transactions Also used to be able to add my remaining allowance to my LISA in one click - that option doesn't appear anymore? When I try to add an Amount
Not a Flexible Cash ISA, so if you withdraw money it doesn't reduce your allowance for that year (should you want to top up again). You have to declare you haven't used your £20k allowance, but you've been able to transfer between, and have multiple, Cash ISAs for years. Wanted to bring my funds over from Trading 212
savings wise great, pretty easy on the eye & straightforward to save each week into whatever ISA. when it comes to selling though (selling some shares to move to my other account with moneybox) has took the best of a week and counting. can't see any progress anywhere on the app as to when these shares will become available as cash. must do better moneybox or will find an alternative.
I did previously rate moneybox at 5 stars but they just keep slashing their interest rates to the point where their savings accounts are just not competitive. I am currently looking at alternatives and I would advise others to do the same. I appreciate that BOE are cutting base rates, but there are other providers now offering much better rates than moneybox. Update: Moneybox are now even cutting rates when the bank of England has decided not to. Just slashing rates again and again and again!!
Such a terrible app.... very confusing... no discernable structure to the layout... full of adverts, offers and promotions. Impossible to find simple things like interest rates. I hate using it
Was loving the app / bank until they double dipped my account and have effectively used up all my ISA allowance for the year. So far, their custom support have been unwilling to help.
failed at the first hurdle. set an account up said my password was wrong so I changed my password to gain entry. said the password was wrong again. deleted the app if you cant handle basic logging in and logging out how can you keep my ten thousand safe ?
There is almost no customer service. No phone numbers to check ISA transfer out status. I won't recommend this provider as there are delays and no visibility and poor service
Absolute garbage service, can't log in through the app, can't finish registering can't really do anything with this absolutely useless app.
Absolute garbage. I signed up for an account but needed to change my bank account before making a transfer. Help says to click on settings in the app. There is no settings provision. Sent message to support who cut and pasted same reply as in their help menu. Tried to phone but you get cut off with a message to say there is an error. What kind of micky mouse organisation is this. Good mind to report them
Had nothing but trouble with this company. My wife and I attempted to set up a cash ISA each on the same day. They screwed up setting it up for my wife so she was unable to log in (fortunately we hadn't deposited money in hers). I phoned them on three occasions but over a week later even though promised it would be sorted it wasn't. As a result I withdrew all the money I put in my ISA and we have opened up ISAs with another provider. 😡
Great when things work the way they are intended, less than useless when things go wrong. When transferring money between two of my moneybox accounts, the money was removed from one account, but 3 weeks later still hasn't been credited to the account it was moved into. Three hours of chatting to customer service later and no progress has been made. I foolishly expected moving money from one account to another account at the same bank would be straightforward!
Due to "software issues" they attempted to take multiple transactions from my account and when contacted refused to cancell upcoming payments from their end forcing me to contact my bank to make arrangements. Not impressed with the customer service at all. Be very careful when using this service
I am unable to withdraw the full amount in my savings account. I have tried to use the withdraw all button but it doesn't work: after typing in my password to confirm, I see an error message that "only positive amounts can be withdrawn". I have tried typing in the number manually, but there's no way to put a decimal point for the pennies. That's unacceptable for a savings account app! Customer service is only available via chat, and has been very unhelpful.
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