Monneybox anyone?

Zola.

The only people who will benefit from this are the app creators who will scoop monthly quids off of those who (for whatever reason) think this is a worthwhile app..

Steve_GP220

cloud_dog wrote: »

What does that mean with regards to your investments?

Well, the additional cost of the charges over 1, 2, 3, 10 years will actually be real damage but, hey if they smash it they will be enjoying their financial success off the back of your higher charges.

Yup, what's not to like.... mmmm

Well, it means, I'm going to go with it now, just to see! If this is as bad as you guys are making out, it would be illegal, surely? When I say maybe MB will smash it, I mean be a huge success for themselves and for the investors.

elephantrosie

i like the idea of moneybox app and would totally use it, if not for the fact that the service fee is so high.

moneybox, if you hear this, please lower the fee

jimjames

Steve_GP220 wrote: »

Well, it means, I'm going to go with it now, just to see! If this is as bad as you guys are making out, it would be illegal, surely? When I say maybe MB will smash it, I mean be a huge success for themselves and for the investors.

No one is suggesting it is illegal. You can buy a washing machine from AO or Brighthouse. One is cheaper than the other and on a Money saving site the other would make no sense for anyone to suggest.

If you want to throw money away then that's your call but at least you've had plenty of reasons why there are better options.

Steve_GP220

Zola. wrote: »

The only people who will benefit from this are the app creators who will scoop monthly quids off of those who (for whatever reason) think this is a worthwhile app..

Its true - everyone wants to make money. But I'm a pretty pragmatic and somewhat weather worn guy, I can sit back and chill and take the rough with the smooth if I have to. Considering investments made, large or small or in between, the charges for any of these funds and plans are pretty small - and besides I like to think of myself as an 'early adopter'. I could yet have the last laugh! Imagine! And I do appologise if you guys haven't totally brought me round to your way of thinking. Although I do add hastily that I have learnt something here these last few days.

masonic

Steve_GP220 wrote: »

Well, it means, I'm going to go with it now, just to see! If this is as bad as you guys are making out, it would be illegal, surely?

You'd be surprised how much businesses can get away with and not break any laws. Much more than has been discussed in this thread. It's part of why this site exists.

When I say maybe MB will smash it, I mean be a huge success for themselves and for the investors.

They have no control over the outcome for investors. They are just middle-men selling funds run by other companies. The only way they can be a huge success is at the expense of investors. Welcome to the world of asset management.

Steve_GP220

elephantrosie wrote: »

i like the idea of moneybox app and would totally use it, if not for the fact that the service fee is so high.

moneybox, if you hear this, please lower the fee

Moneybox told me today, they've invested a lot of money, and its early days. So for that reason its understandable why the fees are high to some. I think it will change - and MB have just secured £Ms in extra funding very recently. If they float, I'm going to buy in

masonic

Steve_GP220 wrote: »

If they float, I'm going to buy in

You should read this thread: https://forums.moneysavingexpert.com/discussion/5921860/invest-in-chip-series-a

Enticing customers to participate in venture capital fund raises is one of the things I was thinking of when I said businesses can get away with worse than has been discussed here.

Steve_GP220

jimjames wrote: »

No one is suggesting it is illegal. You can buy a washing machine from AO or Brighthouse. One is cheaper than the other and on a Money saving site the other would make no sense for anyone to suggest.

If you want to throw money away then that's your call but at least you've had plenty of reasons why there are better options.

masonic wrote: »

You should read this thread: https://forums.moneysavingexpert.com/discussion/5921860/invest-in-chip-series-a

Enticing customers to participate in venture capital fund raises is one of the things I was thinking of when I said businesses can get away with worse than has been discussed here.

Oh, listen you're taking things far too seriously. That was an off the cuff flippant remark - no one, I repeat NO-ONE is enticing or attempting to entice me to invest in MB the company. You should know, its not my shoes that squeak when I walk!

Steve_GP220

masonic wrote: »

You'd be surprised how much businesses can get away with and not break any laws. Much more than has been discussed in this thread. It's part of why this site exists.


They have no control over the outcome for investors. They are just middle-men selling funds run by other companies. The only way they can be a huge success is at the expense of investors. Welcome to the world of asset management.

Of course, there are crooks out there, we know that. We are all adults. Life is a risk! What should we all do, crawl under a rock until better days come along?


And of course again - MB have no control over outcome for investors - so why are we so down on MB? Because there current pricing structure is a little on the high side? Come on guys!