Moneybox or Tembo?

VNX

Good evening all,

Difficult one to answer I know as everyone will have different experiences but my emergency fund of 20k ish is currently with Chip, bonus ends next week so down to about 4pc and looking at options. 

Moneybox and Tembo (for me) are top the charts.

Appreciate anyone’s thoughts on the above two providers in terms of how your transfers in went, anything to be aware of or general thoughts.

kent reliance and Ford money also in the mix too but lower rate.

thank you in advance.

clairec666

If it's your "emergency fund" then I imagine you will want to dip into it occasionally? If so, then you might want it to be a flexible ISA, so that you can replace any withdrawn money within the same tax year, without it counting towards the £20000 yearly limit. That might not be important to you, but if it is, Tembo isn't a flexible ISA, I don't know about the others you mentioned.

Yellowman

According to Moneyfactscompare, Cash ISAs with Tembo, Moneybox and Kent Reliance are not flexible. Only the one with Ford Money is flexible.

There are very mixed experiences on this forum regarding the length of time is takes to transfer into Tembo. I am still waiting for a Paragon to Tembo Cash ISA transfer initiated on 17th June.

allegro120

I've made 5 transfers in to Moneybox.  All were processed relatively quickly, no failures.

And 3 transfers in to Tembo.  The 1st one failed, the other two were successful and very quick (the last transfer took 1 day to appear in my Tembo account).

I have no experience with transfers out of Moneybox and Tembo.

VNX

Thank you all for your help. It’s always a bit if a gamble with these types of institutions!

thank you for taking the time to comment