Moneybox Review 2023
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- Опубликовано: 25 июл 2024
- ** Watch update video, recorded in June 2024, here - • Moneybox Review Update... **
In this independent Moneybox review I explain how the Moneybox app works and the products it offers.
I also talk about its tools and features, plus how you open an account.
Check out our full review below:
moneytothemasses.com/saving-f...
00:00 - Moneybox Review
00:13 - How does Moneybox work?
02:34 - Investing with Moneybox
03:14 - Saving with Moneybox
03:51 - Pension with Moneybox
04:11 - Mortgage advice with Moneybox
04:25 - Moneybox tools and features
04:50 - Opening a Moneybox account
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#Moneybox #MoneyboxReview #MoneyboxApp
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Since 2010 Money to the Masses has been helping people with their personal finances for FREE. Money to the Masses is one of the UK’s leading independent personal finance websites specialising in all aspects of financial planning including investments, pensions, property, insurance, mortgages, budgeting and saving. We bring together expertly written content, interactive tools and technology to help over 4 million people a year across our platform.
If you are looking to get your finances in shape then check out Damien's FREE Money MOT at mot.moneytothemasses.com/
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Hi and thank you for great detailed reviews. I’ve looked at the review on the website as well.
There’s only one part where I need some clarification.
If I want to buy a house that is over £450 000, does this mean I won’t be able to withdraw the savings from LISA?
And how will Money box know that I’m withdrawing the savings towards more expensive property? Is there some sort of questionnaire and checks that Money box have in order to know what the value is?
Thank you and keep up the great work!
You’ve earned a new follower. 🙌🏻
Hi
Great question... technically you can still withdraw from the LISA if a house is over £450k but you will pay the 25% charge which effectively removes the government bonus.
When it comes to buying a property your solicitor (conveyancer) acting for you will process the house purchase so will know the funds come from a LISA and the purchase price of your property. So there is no way of circumnavigating the rules. Your best hope if you wish to purchase a property of over £450k with the help of a LISA is that the rules will be changed so that the £450k threshold is raised.
There is a lot of pressure being placed on the government to alter the rules.
Thanks again for your support.
Damien
I’m trying to save money in stock and share Moneybox. Is it risky?
If you don’t understand it don’t do it.
You can't round up with every bank though, Metro bank for example doesn't allow that unfortunately
Moneybox currently supports round ups for the following institutions:
American Express
Bank of Scotland
Barclaycard
Barclays
First Direct
Halifax
HSBC
Lloyds
M&S Bank
MBNA
Monzo
Nationwide
NatWest
RBS
Revolut
Sainsbury’s Bank
Santander
Starling
TSB
Ulster Bank
Virgin Money
Yorkshire Building Society
You can find up to date information here www.moneyboxapp.com/faqs/which-banks-do-you-support-for-round-ups/?
@@Moneytothemasses i know that, there's clearly no Metro bank in the list, just like I said
If I saved into a Moneybox cash LISA… Are there any charges. ???
No
You have to invest £500 for the ISA
Is the 25% bonus a one off bonus or can you get up to £1000 bonus per tax year? I.e a £1000 in one tax year then £1000 in the next so long as you put in £4000 every tax year
If you put in £4,000 every year you will get a £1,000 bonus every year.
@@Moneytothemasses ah okay; thank you for confirming!
Money box is great
I really want to join but afraid of trusting an app. Like what if the app shuts down ? It's not backed by fscs
It is backed by the FSCS.
@@sienalobo1641yes it is
@@sienalobo1641it is to a certain amount
@@sienalobo1641I believe it is
No not a good product this isn't for me
Would you mind elaborating on this please? I am doing research on LISA providers and it would greatly help :)
@@rinnydapoopI’m using Moneybox to save for my
Mortgage deposit, I’m 1 ½ years in and should be done next year. Everything’s been fine with me