Moneybox £25 cashback on £500 investment July 2024

clivep

I had a notification on my phone but have not had an email about it. To find out more details I've tried logging into my a/c on the app but can't see anything there. Nor can I see anything on the Moneybox website about it.

Can anyone shed some light as to where I can see the t's & c's?

PloughmansLunch

In the app the details are in Settings > Promotions> ...

The £500 needs to be held until at least 31st October

wiseonesomeofthetime

Not a big enough cash offer to tempt me.

It's just 5% of my minimum investment, an investment that could lose significant value in 3.5 months (or gain, I know).

Read the T&C as there are a few (obvious) ways that the £25 will not be paid.

granta

And the fees are not competitive 

crumpet_man

wiseonesomeofthetime said:

Not a big enough cash offer to tempt me.

It's just 5% of my minimum investment, an investment that could lose significant value in 3.5 months (or gain, I know).

Read the T&C as there are a few (obvious) ways that the £25 will not be paid.

I think you can leave it uninvested or how about a cash fund?  No risk that way.

4. You can either invest your Qualifying Deposit or hold it in your Available Cash.


I had an offer like this previously and had no issues getting the £25 bonus.

clivep

PloughmansLunch said:

In the app the details are in Settings > Promotions> ...

The £500 needs to be held until at least 31st October

Thanks for that.

I didn't have a promotions tab in settings so I've updated the app and can now see it.

friolento

Too much hassle for £25 IMO, unless you were going to open an S&S ISA or GIA with Moneybox anyway. The monthly charges will soon eat into the £25, and closing the account(s) before the charges kick in could be hassle.

Aidanmc

I received one of these offers back in May, but it was £50 for £500 investment.

I didn't go for the offer though, as when i started the process it was looking like i actually had to invest the deposit rather that leaving it in a cash holding account.

This was the link from then

https://www.moneyboxapp.com/50-cashback-incentive-faqs-and-tcs/?lid=i0ihu9mzegu4

crumpet_man

friolento said:

Too much hassle for £25 IMO, unless you were going to open an S&S ISA or GIA with Moneybox anyway. The monthly charges will soon eat into the £25, and closing the account(s) before the charges kick in could be hassle.

How much do you think the charges will be on £500 for 3 months?  The £1 a month moneybox fee is waived for the first 3 months for users opening their first investment account.  Other fees are under 1% per year so it should be under £1 in total.

I helped my partner with setting up a GIA for this offer and I think I have spent more time on this MSE thread than I will spend dealing with the admin of the account (including opening, funding, checking bonus is paid, closing)

clivep

Aidanmc said:

I received one of these offers back in May, but it was £50 for £500 investment.

I didn't go for the offer though, as when i started the process it was looking like i actually had to invest the deposit rather that leaving it in a cash holding account.

This was the link from then

https://www.moneyboxapp.com/50-cashback-incentive-faqs-and-tcs/?lid=i0ihu9mzegu4

Looking at that link, the qualifying terms say "4. You can either invest your Qualifying Deposit or hold it in your Available Cash". The current offer has the same condition.

Available cash also earns interest currently 3.8% in a GIA or S&S ISA:

https://www.moneyboxapp.com/faqs/what-is-available-cash/

Aidanmc

clivep said:

Aidanmc said:

I received one of these offers back in May, but it was £50 for £500 investment.

I didn't go for the offer though, as when i started the process it was looking like i actually had to invest the deposit rather that leaving it in a cash holding account.

This was the link from then

https://www.moneyboxapp.com/50-cashback-incentive-faqs-and-tcs/?lid=i0ihu9mzegu4

Looking at that link, the qualifying terms say "4. You can either invest your Qualifying Deposit or hold it in your Available Cash". The current offer has the same condition.

Available cash also earns interest currently 3.8% in a GIA or S&S ISA:

https://www.moneyboxapp.com/faqs/what-is-available-cash/

Yeah, i know what the terms say, but when i went to open the GIA it brought me to investment options (before depositing) and i had to choose what i wanted to invest in. Maybe if i went further there was an option to leave any deposits as cash.

I pulled back and didn't proceed anyway, didnt look any further into it as i dont use apps really