Moneybox LISA 1.1%

Blackbriar_040

Looks like Moneybox has finally increased their Cash Lisa for existing customers!

Got this email this afternoon,

 Great news! The interest rate on your Cash Lifetime ISA (powered by Investec) has just increased to 1.1% AER* variable.

The rate has already increased, so why not log in and start making the most of it? You can set up a weekly payment, make a one-off deposit, or try our in-app instant bank transfer option to see your balance grow even faster!

Perfect timing as I was looking to transfer my Cash Lisa to one of the higher rate providers!

The new increase now make Moneybox 2nd best rate, unless you’re a new customer! (1.20%)

MrFrugalFever

This is the email I received today;

Great news! The interest rate on your Cash Lifetime ISA has just increased to 1.35% AER* variable. That's a base rate increase to 1.0%, plus your existing fixed one year bonus rate of 0.35%.

The rate has already increased, so why not log in and start making the most of it? You can set up a weekly payment, make a one-off deposit, or try our in-app instant bank transfer option to see your balance grow even faster!

jimmynoton

This is the email I received today;

Great news! The interest rate on your Cash Lifetime ISA has just increased to 1.6% AER* variable. That's a base rate increase to 1.0%, plus your fixed one year bonus rate of 0.6%.

As always, if you have any questions, please get in touch with our Support team via the in-app chat or support@moneyboxapp.com.

Thanks,

Team Moneybox

Oasis1

I used to have a moneybox LISA and transferred to Beehive (currently 0.9%). I still have an account with Moneybox though - wondering if I should open a new LISA with them and transfer it back?!

Might wait till after Bank of England's rate review on Thurs and see if Beehive get their act together...

Oasis1

Also the fact all three of you are now on different rates is bizarre!

Oasis1

I contacted Moneybox to see what interest rate I'd get if I transferred back and they've said:

"Unfortunately once you have transferred your LISA out to another provider it is not possible to transfer it back or open a new LISA with Moneybox."

I'm quite shocked to be honest. Is this a common policy across LISA providers to prevent competition?

Blackbriar_040

Everyone still within the bonus period should get the higher rate, hence my bonus had expired! = Lower % rate.
I was looking at transferring my current Lisa to either Skipton, Beehive or Nude!

Skipton 0.85% ( Had used previously, decent app, message/phone help, good customer service)

Beehive money 0.90% ( Mixed reviews on the App Store, Trustpilots reviews bit better, message/phone help.

Nude 1.25% (Good reviews, but no phone help, message only, account fee £2.00, 95 day notice required.

*Messaged Nude last Thursday asking about the 95 notice period, as yet still waiting for a reply! Doesn’t fill you with confidence, especially if you need to contact them urgently.

*Oasis1, Not common, previously had Skipton LISA before Moneybox, Skipton confirmed I could transfer back!! 

Oasis1

I'm with Beehive at the moment and find them fine. They respond pretty quick to messages via their app, once you've made it past their chatbot. Though I asked if there's any plans to increase the rate as I'm considering transferring elsewhere and they said they don't know of any (unsure whether that's the case or they just can't tell me right now)

gd55

Rates up on Moneybox LISA again, received this email yesterday:

The interest rate on your Cash Lifetime ISA has just increased to 2.1% AER* variable. That's a base rate increase to 1.5%, plus your existing fixed one year bonus rate of 0.6%. This rate is increasing from today.

MrFrugalFever

Same here, although the BR is currently 2.25% so I don’t understand why they are dragging their heals well behind this!

gd55

Another increase for the Moneybox LISA today. 

The interest rate on your Cash Lifetime ISA has just increased to 3.35% AER* variable. That's a base rate increase to 2.75%, plus your existing fixed one year bonus rate of 0.6%. This rate is increasing from today.