Difficulty transferring out of a Moneybox cash ISA

Cesca19

Following the information on MSE's website I opened an easy access ISA with Moneybox a few months ago but now want to transfer it because interest rate has dropped.  However, the websites for other banks/building societies do not acccept anything from Moneybox.  Has anyone found how to transfer a Moneybox ISA to another provider?  Many thanks for your help.

dunstonh

Has anyone found how to transfer a Moneybox ISA to another provider?  

I have transferred several with absolutely no problems.

What you may find is that some of the top paying rates come from digital providers who don't want to deal with paper based transfers and will reject a transfer from a provider that isn't on their digital transfer list.

The issue isn't moneybox but the receiving scheme.

flaneurs_lobster

The first ISA provider I looked at (Tembo) has Moneybox on it's list of acceptable ISAs.

"..the websites for other banks/building societies do not acccept anything from Moneybox" is a pretty broad brush, how many other provider's websites have you checked?

Ch1ll1Phlakes

Moneybox is on Tembo's list of accepted ISA providers. Moneybox is often listed as Digital Moneybox Limited on these lists so make sure to check for this name also.


It follows after this. If you want to check for yourself here is instructions and the list of providers accepted by Tembo
 How to transfer an ISA to Tembo's Cash ISA (new & existing customers) | Tembo Money Limited Help Center

Ch1ll1Phlakes

Cesca19 said:

Following the information on MSE's website I opened an easy access ISA with Moneybox a few months ago but now want to transfer it because interest rate has dropped.  However, the websites for other banks/building societies do not acccept anything from Moneybox.  Has anyone found how to transfer a Moneybox ISA to another provider?  Many thanks for your help.

Just wanted to add I recently had by Moneybox ISA transfer complete
Cash ISAs: The Best Currently Available List - Page 937 — MoneySavingExpert Forum 

epm-84

Coventry Building Society accept from Moneybox. Although, they do not have the option of signing digitally and Moneybox require a signed form, so Coventry will post a form to you, which obviously doesn't mean the transfer gets initiated as quickly as with other providers.

bristolleedsfan

Ch1ll1Phlakes said:

Moneybox is on Tembo's list of accepted ISA providers. Moneybox is often listed as Digital Moneybox Limited on these lists so make sure to check for this name also.


It follows after this. If you want to check for yourself here is instructions and the list of providers accepted by Tembo
 How to transfer an ISA to Tembo's Cash ISA (new & existing customers) | Tembo Money Limited Help Center

Aldermore wont accept without Sortcode or 00-00-00, appears not to accept NI number as account number, Moneybox say they do not use Sortcodes, NI number used for A/C number, how did you get around that ???

Ch1ll1Phlakes

bristolleedsfan said:

Ch1ll1Phlakes said:

Moneybox is on Tembo's list of accepted ISA providers. Moneybox is often listed as Digital Moneybox Limited on these lists so make sure to check for this name also.


It follows after this. If you want to check for yourself here is instructions and the list of providers accepted by Tembo
 How to transfer an ISA to Tembo's Cash ISA (new & existing customers) | Tembo Money Limited Help Center

Aldermore wont accept without Sortcode or 00-00-00, appears not to accept NI number as account number, Moneybox say they do not use Sortcodes, NI number used for A/C number, how did you get around that ???

@bristolleedsfan Simplest method to get round this (though may take a week or two) is to find a provider that accepts transfers from Moneybox (there are quite a few - the easiest way to check is to just message them) AND Aldermore accepts transfers from this new provider. Use an ISA account with this provider as a bridge between the two providers.

I know Chip and Tembo will accept transfers from Moneybox as I imagine will many mainstream banks, though you would need to check. Best start with Aldermore and see who they accept ISA transfers from.

Hope this helps.

sammy_zammy

Their business name is Digital Moneybox Ltd, not just Moneybox, so make sure you’re looking for the right name!

vividmemories

I have successfully transferred from Moneybox to Trading 212.

It may be worth bearing in mind that if you close your Moneybox account, apparently you can never get a new one. So it may be worth doing only a partial transfer to keep the option of a Moneybox ISA account open.

I keep £500 in my Moneybox, to avoid the penalty of a 0.75% interest rate 

Ch1ll1Phlakes

bristolleedsfan said:

Ch1ll1Phlakes said:

Moneybox is on Tembo's list of accepted ISA providers. Moneybox is often listed as Digital Moneybox Limited on these lists so make sure to check for this name also.


It follows after this. If you want to check for yourself here is instructions and the list of providers accepted by Tembo
 How to transfer an ISA to Tembo's Cash ISA (new & existing customers) | Tembo Money Limited Help Center

Aldermore wont accept without Sortcode or 00-00-00, appears not to accept NI number as account number, Moneybox say they do not use Sortcodes, NI number used for A/C number, how did you get around that ???

@bristolleedsfan Just a follow up to this. I'd contacted Aldermore about Cash ISA transfers and they confirmed that they can accept transfers from Moneybox (as well as Trading 212 and Chip for anyone interested). Their updated ISA transfer form gives the instruction to skip the sort code section if you do not have one. As the account number for Moneybox is your National Insurance number you can also skip the account number section on the form and just fill in a reference number which would be your national insurance number. I've attached a screenshot of the relevant part of the form.