Moneybox ISA bonus rate is for three months.

Meradowlark

What if you take out your money after that three months? Do you walk away with the bonus or do you have to keep it invested for a year?

jimjames

Meradowlark said:

What if you take out your money after that three months? Do you walk away with the bonus or do you have to keep it invested for a year?

What do their terms and conditions say?

Trifled

I have the same question. 
You have to complete lots of personal info before you get to terms and conditions on the app.

I searched online and it mentions 3 withdrawals, minimum 500 quid, but I can't find anything specific about losing the bonus if you close or transfer after 3 months. 🤷🏻‍♀️

sammy_zammy

Meradowlark said:

What if you take out your money after that three months? Do you walk away with the bonus or do you have to keep it invested for a year?

Interest is calculated daily. Withdrawing will make you go to the lower rate of 0.75% from that point onwards, but you won’t lose your previously earned interest including the bonus.

Trifled said:

I have the same question. 
You have to complete lots of personal info before you get to terms and conditions on the app.

I searched online and it mentions 3 withdrawals, minimum 500 quid, but I can't find anything specific about losing the bonus if you close or transfer after 3 months. 🤷🏻‍♀️

Transferring will presumably count as a withdrawal but I don’t really see the issue of a lower interest rate if you’re transferring out anyway. My Moneybox transfers have been quick.

MeteredOut

sammy_zammy said:

Meradowlark said:

What if you take out your money after that three months? Do you walk away with the bonus or do you have to keep it invested for a year?

Interest is calculated daily. Withdrawing will make you go to the lower rate of 0.75% from that point onwards, but you won’t lose your previously earned interest including the bonus.

Trifled said:

I have the same question. 
You have to complete lots of personal info before you get to terms and conditions on the app.

I searched online and it mentions 3 withdrawals, minimum 500 quid, but I can't find anything specific about losing the bonus if you close or transfer after 3 months. 🤷🏻‍♀️

Transferring will presumably count as a withdrawal but I don’t really see the issue of a lower interest rate if you’re transferring out anyway. My Moneybox transfers have been quick.

Likewise. I've done two transfers from Moneybox due to their ISA rate dropping to 4.2% for existing customers.

I did a partial transfer of some funds to Tembo last Friday and that hit my Tembo ISA yesterday. I then did another request via the Chip app yesterday afternoon for the remainder of the funds, and they have just hit my Chip ISA.