Moneybox have expanded their offering of investment options to include tracker funds that allow investors to customise their allocations, giving them complete control of their investments and allowing selections that fall in line with values and objectives. Adventurous – Made up of 80% global shares.Cautious – Made up of 40% Corporate and Government Bonds.Starting Options are aimed specifically at beginner investors and those who prefer to keep things simple. Other than that it is a fairly standard offering, allowing investors to deposit up to £20,000 a year in 2022/21 and invest that cash into one of their three low-cost Starting Options made up of tracker funds, or build their own portfolio from a range of tracker funds and exchange-traded funds (ETFs). The Moneybox Stocks and Shares ISA differs a little from your average offering in that it includes the rounding up feature, meaning you can continue to drip feed money into your account without even noticing it, helping to grow your investment portfolio. 95 Day Notice (2.32% AER) – currently closed for new customers.45 Day Notice (1.97% AER) – currently closed for new customers. Whilst the range of savings accounts including the following: Moneybox’s investment accounts include the following: It is rare, when doing these reviews, that I come across an app with the number of account options that you can get at Moneybox. In my opinion this is where Moneybox really stands out in what is fast becoming a crowded market. Moneybox have completed their Series C funding round with institutional investors, raising £30 million and are now launching their first crowdfunding raise, providing scope for further investment. Moneybox was founded in 2015 by Ben Stanway and Charlie Mortimer who still own the majority of Moneybox. They have been authorised and regulated by the Financial Conduct Authority since their launch in 2016 and today have over 900,000 customers. Moneybox is a saving and investing app that aims to simplify these activities with one, low-cost, easy-to-use app. Therefore, if you’re not smartphone savvy, this won’t be the solution you are looking for. I think it would be prudent to point out that Moneybox is an app-only service. All you need to get started is to be over 18 and have a national insurance number to access the stocks and shares ISA, Lifetime ISA or personal pension. This really is a simple solution that takes moments to set up, but can have a significant impact on your future with very little intervention from you. You only need £1 to get started with Moneybox and they even have a provision to consolidate your pensions into their Personal Pension product. This is a perfect solution for anyone who doesn’t have the time or resources to study the market and choose how their money is invested, and for people who are saving towards a specific financial goal, especially those looking to buy their first home. Not only do they offer automated savings straight from your bank account in the form of round-ups, but they also have the best interest rates on a lifetime ISA that you can find. Moneybox have won multiple awards for their wealth management solutions and it’s easy to see why.
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