Moneybox Lifetime ISA

CJAVT

Hello, 

I'm new to the Moneybox Lifetime ISA, and just want to know the last date we can make payments into the account for it to count as the current year? I know it's tax year so theoretically it should be the 5th April, but the process of money actually getting into the account seems to take ages so is it earlier? 

I want to make a final deposit on 1st April after I'm paid but worried this would end up counting towards the following year because of their process. 

Thank you

eskbanker

Bear in mind that the 5th is a Sunday so you may need to have the payment fully processed by Friday 3rd - I'm not familiar with the timescales involved in paying into Moneybox but if, for the sake of argument, paying in on the 1st wasn't timely enough, what would plan B look like?

rjmachin

I opened a Moneybox LISA a few weeks ago and agree that it is annoying how slow it is.  However, 25% bonus involves sacrifices I suppose.

According to the FAQ's, the weekly deposits are "collected" on the Wednesday, the money then leaves your bank account the following Monday and is then completed that Thursday, so just over a week.

So, you would probably want to do it for Wednesday 25th March, so that it is completed on Thursday 2nd April before the next tax year.