Moneybox

Walkinthewoods

Does anyone know if Moneybox is a good company to open an ISA with?

friolento

They are a bit cheeky as the interest is not FSCS protected until it's paid, which is on the anniversary

There might be more relevant info on the dedicated ISA forum: https://forums.moneysavingexpert.com/categories/isas-tax-free-savings

Emmia

I've had a S&S ISA with them for several years, personally I find the app easy to use and see what my ISA is doing 

WillPS

friolento said:

They are a bit cheeky as the interest is not FSCS protected until it's paid, which is on the anniversary

There might be more relevant info on the dedicated ISA forum: https://forums.moneysavingexpert.com/categories/isas-tax-free-savings

I only have the LISA, so maybe it's different, but on that one the underlying interest is added monthly - it's just the bonus part which is withheld until the anniversary.

It's a great app. My main frustrations are:

• no biometric login, it's one of only 2 apps where I need to enter a bloody passcode every time
• deposits are a bit fiddly - you can only deposit from your linked account, and only via direct debit (which has a huge lag) or open banking (min £100). Why they won't just give you BACS details to make a faster payment to, I've absolutely no idea. Again, for my usecase (one payment per tax year), it's absolutely fine, but could see it being more of an irritation if I wanted to deposit more often than that.

Emmia

WillPS said:

friolento said:

They are a bit cheeky as the interest is not FSCS protected until it's paid, which is on the anniversary

There might be more relevant info on the dedicated ISA forum: https://forums.moneysavingexpert.com/categories/isas-tax-free-savings

I only have the LISA, so maybe it's different, but on that one the underlying interest is added monthly - it's just the bonus part which is withheld until the anniversary.

It's a great app. My main frustrations are:

• no biometric login, it's one of only 2 apps where I need to enter a bloody passcode every time
• deposits are a bit fiddly - you can only deposit from your linked account, and only via direct debit (which has a huge lag) or open banking (min £100). Why they won't just give you BACS details to make a faster payment to, I've absolutely no idea. Again, for my usecase (one payment per tax year), it's absolutely fine, but could see it being more of an irritation if I wanted to deposit more often than that.

I pay into my ISA weekly, so on the complete opposite end of the spectrum, the Wednesday collection and Monday deposit is a bit irritating, but I've just got used to it.

ThePirates

WillPS said:

It's a great app. My main frustrations are:

• no biometric login, it's one of only 2 apps where I need to enter a bloody passcode every time

It does have biometric login!
Switch it on in Settings then Security!

Wheres_My_Cashback

Emmia said:

WillPS said:

friolento said:

They are a bit cheeky as the interest is not FSCS protected until it's paid, which is on the anniversary

There might be more relevant info on the dedicated ISA forum: https://forums.moneysavingexpert.com/categories/isas-tax-free-savings

I only have the LISA, so maybe it's different, but on that one the underlying interest is added monthly - it's just the bonus part which is withheld until the anniversary.

It's a great app. My main frustrations are:

• no biometric login, it's one of only 2 apps where I need to enter a bloody passcode every time
• deposits are a bit fiddly - you can only deposit from your linked account, and only via direct debit (which has a huge lag) or open banking (min £100). Why they won't just give you BACS details to make a faster payment to, I've absolutely no idea. Again, for my usecase (one payment per tax year), it's absolutely fine, but could see it being more of an irritation if I wanted to deposit more often than that.

I pay into my ISA weekly, so on the complete opposite end of the spectrum, the Wednesday collection and Monday deposit is a bit irritating, but I've just got used to it.

So why do it and lose 4 days interest every time. Delete the DD and do it via FP and it will be applied next working day.

And yes, it does have biometric login.

Emmia

Wheres_My_Cashback said:

Emmia said:

WillPS said:

friolento said:

They are a bit cheeky as the interest is not FSCS protected until it's paid, which is on the anniversary

There might be more relevant info on the dedicated ISA forum: https://forums.moneysavingexpert.com/categories/isas-tax-free-savings

I only have the LISA, so maybe it's different, but on that one the underlying interest is added monthly - it's just the bonus part which is withheld until the anniversary.

It's a great app. My main frustrations are:

• no biometric login, it's one of only 2 apps where I need to enter a bloody passcode every time
• deposits are a bit fiddly - you can only deposit from your linked account, and only via direct debit (which has a huge lag) or open banking (min £100). Why they won't just give you BACS details to make a faster payment to, I've absolutely no idea. Again, for my usecase (one payment per tax year), it's absolutely fine, but could see it being more of an irritation if I wanted to deposit more often than that.

I pay into my ISA weekly, so on the complete opposite end of the spectrum, the Wednesday collection and Monday deposit is a bit irritating, but I've just got used to it.

So why do it and lose 4 days interest every time. Delete the DD and do it via FP and it will be applied next working day.

And yes, it does have biometric login.

I didn't ask about biometrics

I'm happy with the DD arrangements tbh

friolento

Wheres_My_Cashback said:

Emmia said:

WillPS said:

friolento said:

They are a bit cheeky as the interest is not FSCS protected until it's paid, which is on the anniversary

There might be more relevant info on the dedicated ISA forum: https://forums.moneysavingexpert.com/categories/isas-tax-free-savings

I only have the LISA, so maybe it's different, but on that one the underlying interest is added monthly - it's just the bonus part which is withheld until the anniversary.

It's a great app. My main frustrations are:

• no biometric login, it's one of only 2 apps where I need to enter a bloody passcode every time
• deposits are a bit fiddly - you can only deposit from your linked account, and only via direct debit (which has a huge lag) or open banking (min £100). Why they won't just give you BACS details to make a faster payment to, I've absolutely no idea. Again, for my usecase (one payment per tax year), it's absolutely fine, but could see it being more of an irritation if I wanted to deposit more often than that.

I pay into my ISA weekly, so on the complete opposite end of the spectrum, the Wednesday collection and Monday deposit is a bit irritating, but I've just got used to it.

So why do it and lose 4 days interest every time. Delete the DD and do it via FP and it will be applied next working day.

And yes, it does have biometric login.

How do you FP into a Moneybox account? Do you mean pulling money in via instant deposit?