Is Moneybox good for investing?
Independent review by Boring Money
Investment expert’s opinion
Moneybox is a slick, helpful app for those who want to save into an ISA with minimal hassle. The app is easy to use and will feel pleasingly straightforward for investment novices. In % terms the costs are actually relatively high - although on smaller account sizes this isn't too important - but I wouldn't want to have more than £20,000 here. Not for those who value choice, research, and who want to learn. But great for those who like a simple life!
*This is the view of investment expert Holly Mackay based on her first-hand customer experience as a test account holder. This does not constitute regulated advice. You can read more about Holly's investments here.
Who is Moneybox?
Launched as an app in 2016, Moneybox initially attracted attention for its ‘round-up’ feature which allows savers to round up all spending to the nearest pound and put the difference into a dedicated savings pot. Today it has branched out to offer a suite of products, including ISAs and SIPPs, with over 1 million users across the UK. Moneybox states its mission is to help people “reach their goals and build wealth with confidence, whatever their starting point”.
Who is Moneybox good for?
Moneybox is well-suited to beginners and people who want something simple and straightforward when it comes to investing. There’s a wealth of educational content to support your choices and its slick and easy to use app is great for people who live on their phones. However, the fees work out a little expensive, particularly for smaller portfolios under £5k.
Pros and cons
Investments
Moneybox users can access a limited range of investment options, which include:
Accounts
Moneybox offers a range of accounts. The table below shows a breakdown of which ones are available and you can scroll down for more information about Moneybox’s ISA, Pension, LISA and JISA.
Stocks & Shares ISA | Pension (SIPP) | General Investment Account (GIA) | Lifetime ISA | Junior ISA |
✔ | ✔ | ✔ | ✔ | ✔ |
Fees and charges
The cost of investing with Moneybox differs depending on which type of account you have and the amount you have invested. The table below illustrates how the different charges work.
Account type | Subscription fee (free for first 3 months) | Monthly Platform fee | Annual fund provider fee |
ISA | £1 per month* | 0.45% | 0.12 - 0.58% |
SIPP | None | First £100k: 0.45% | 0.14% - 0.58% |
*The subscription fee of £1 per month is charged per Moneybox account. This means that even if you have multiple investment accounts, your subscription fee will remain at £1.
Here's a few extra things to bear in mind with Moneybox fees:
The monthly subscription fee is waived for the first 3 months
Investments vary depending on the option selected. Users can see the cost of each option here.
Moneybox offer access to a small range of US stocks. These come with free dealing, however there is a 0.45% currency conversion fee when converting between GBP and USD.
See how much it would cost you
Use the handy calculator below to calculate the cost of an account. Just select which type of account you want to use, type in the amount you want to invest and - hey presto! - our calculator will give you an estimate of how much it costs. Please note estimated fees are calculated excluding promotional offers.
Step 1. Select account type.
Step 2. Enter the amount you are looking to invest.
Estimated fees:
£18.20
All Inclusive
This cost represents the total amount you will pay. It is based on a typical account and will be a very good guide, but may differ depending on the investment option you pick.
The boring disclaimer bit
This is a free resource for our readers. We’ve tried really hard to ensure that these calculations are correct and can promise you there’s no monkey business or favouritism going on. But please don’t rely on these calculations without double checking yourself. If you do think you have seen an error please contact community@boringmoney.co.uk and help us to make this better. More information on the assumptions we've used to calculate these investment fees can be found here.
Customer reviews
Moneybox is praised for its ease of use, clear terms, and secure service. Users appreciate the prompt delivery of products and services, and the app's user-friendly interface. The app offers good interest rates and a variety of investment options, making it suitable for beginners and small savings.
However, there are areas for improvement. Users suggest more flexibility in investment options, better access time to finances, and more personalised advice. Some also feel that the app could benefit from faster loading times and better communication with other services.
Overall, Moneybox is seen as a high-quality, easy-to-use service with great customer support, but there is room for improvement in investment options and app performance.
Your opinion matters!
Leave a review for Moneybox
30 June 2025
Terrible restricted investment opportunities. Long time between money transferred to available for buying shares
29 November 2024
Great app everything is in one place
26 November 2024
It's very simple and good for small savings
Most asked questions
Is Moneybox safe?
Moneybox is authorised and regulated by the Financial Conduct Authority (FCA). If a fund fails due to fraud or mismanagement, you may be eligible for compensation from the Financial Services Compensation Scheme (FSCS). The FSCS protection is capped at £85,000 per person, per fund manager (not per individual fund). However, if your investments lose value due to normal market conditions or your investment choices, this is part of the normal risk of investing and is not covered by FSCS compensation.
Who owns Moneybox?
Moneybox is a private limited company owned by co-founders Ben Stanway (who also founded florist delivery service Bloom & Wild) and Charlie Mortimer.
Is Moneybox a bank?
No, Moneybox is not a bank. This means that Moneybox customers’ money is kept separate from its own finances. All Moneybox savings products are deposited by Moneybox into third-party banks on customers’ behalf.
These banks are covered by the FSCS, so in the event that they fail, you are eligible to claim up to £85,000 per bank for any financial losses you might have incurred. Moneybox states that it would make the claim to the FSCS on your behalf automatically and it could take up to three months to settle.
Moneybox uses a range of banks which can and do change over time. You can read Moneybox’s FSCS disclaimer for the full, up-to-date list of third-party banks used for each Moneybox product.
How to withdraw money from Moneybox
The process of withdrawing money from your Moneybox account differs depending on which one you have.
Moneybox ISA
You can withdraw from a Moneybox Stocks & Shares ISA or GIA for free at any time, providing the funds you’re withdrawing are fully settled (i.e. pending deposits or investments can’t be withdrawn).
If you’re investing in a Starting Option, go to Settings > Withdraw. For all other investments, you’ll need to select the individual ones you want to sell. To do this, go to Accounts > S&S ISA/GIA > Select your investment(s) > Sell.
Sales typically take between 3-5 working days and you’ll receive a confirmation email to let you know when it is complete.
Moneybox Pension
Moneybox SIPP users can only withdraw money from their pension once they reach the age of 55. Moneybox explains more about the different options for accessing your pension pot on their website.
Moneybox LISA
You can withdraw funds from a Moneybox LISA but you must do this either to purchase your first home or for your retirement savings. Head to the Moneybox website to read more about the process of applying to access cash in your LISA.
Moneybox JISA
Money can only be withdrawn from a Moneybox JISA by the child once they reach the age of 18.
Glossary
Not 100% sure you understand something we’ve written in this review?
Discover jargon-free definitions of the most common words and technical terms used in the world of investing.
Risk warning
As is always the case with investing, your capital is at risk. The value of your portfolio can go down as well as up and you may get back less than you invest. Tax treatment depends on your individual circumstances and may change in the future.
All information in this review correct as at 01/01/2024.
