Moneybox Open Access Cash ISA

savvysavings2024

I currently have 3 years ISA allowances in the T212 cash ISA (including this year's 2025-2026 allowance).  With today's email informing of another interest rate cut from 4.50% to 4.35% so soon after the reduction to 4.50%, I'm considering transferring out to Moneyboxes Open Access Cash ISA that is offering 5.05% (which includes a 12 month bonus).

I'm aware that this isn't a flexible ISA, which I'm ok with. Is there anything else I should be aware of?

Anyone know of any reason I shouldn't transfer out? Any good/bad experiences with Moneybox cash ISAs?

My calculations are that my £61,900 will gain an additional £434 in interest over the year with the 5.05% from Moneybox compared to the 4.35% T212 are offering from 1st May so it seems a no brainer.  But I'm new to transferring ISA providers so want to check I'm not overlooking anything.

Isarulesaretoocomplex

Had a few issues transferring from 212..they don't allow electronic transfers. I contacted oak north who don't accept them from 212. So I've searched for others that do. I've currently got a transfer ongoing on with Newcastle building society who posted their form to 212 requesting the transfer. That was on the 9th April. Yes I understand it states 15 days which I'm assuming means 15 working days so hopefully it may occur late next week but I'm not holding my breath. Il not be dealing with them once this hopefully goes through. Also il be staying clear of these unknowns to me that offer the incentives with a bonus to open. My initial interest rate with 212 was 5.17 they've reduced it 3 times since opening on 17 November last year including the recent drop to 4.35 as of May 1st a week before the boe rate decision. I've fixed all my isas now at good rates cynergy 4.56 oak north 4.51 and nbs 4.3. 

P1Fanatic

I’ve started a transfer out from T212 to Moneybox 2 days ago. Moneybox have T212 in their list of ISA vendors when you do the transfer so hoping its plain sailing. Only issue I had is moneybox ask for accoubt number and sort and I could not find the latter on T212 so left it blank. Hoping that does not cause issues.

BigBear68

P1Fanatic said:

I’ve started a transfer out from T212 to Moneybox 2 days ago. Moneybox have T212 in their list of ISA vendors when you do the transfer so hoping its plain sailing. Only issue I had is moneybox ask for accoubt number and sort and I could not find the latter on T212 so left it blank. Hoping that does not cause issues.

Let us know how it pans out, when I opened my T212 ISA it was the leading provider for interest rate, with this latest announcement it's now average. Will be looking to move too if you deem it an easy transfer.

JohnB47

P1Fanatic said:

I’ve started a transfer out from T212 to Moneybox 2 days ago. Moneybox have T212 in their list of ISA vendors when you do the transfer so hoping its plain sailing. Only issue I had is moneybox ask for accoubt number and sort and I could not find the latter on T212 so left it blank. Hoping that does not cause issues.

On another thread, a poster says he was given sort code 00-00-00 by Trading 212 on Chat.

JohnB47

I'm also a bit cheesed off with trading 212 and wondering about a move to Moneybox. But who knows, maybe they'll soon drop their variable rate too. I'd be OK with them reflecting BOE base rate changes but Trading 212 just drop theirs unexpectedly, which is annoying.