Moneybox

Who they are

Moneybox is a UK app focused on saving and investing, with features such as round-ups, regular deposits, ISAs, and long-term wealth tools. The core idea is reducing the friction that stops people from saving consistently. Every time you spend, Moneybox rounds up the transaction to the nearest pound and saves or invests the difference. Beyond that gimmick - which genuinely works for a lot of people - it offers tools such as round-ups, weekly and monthly deposits, Cash ISAs, Stocks and Shares ISAs, Lifetime ISAs, pensions, and home-buying support so users can build long-term wealth in one app.

Moneybox is primarily a mobile-first platform with apps available on both iOS and Android, though customers can also manage their accounts via the web platform. Digital Moneybox Limited is authorised and regulated by the Financial Conduct Authority, no. 712935, registered in England and Wales no. 09597755. There are no high-street branches and no current account, so if you are looking to do all your banking in one place, Moneybox is not that.

Savings accounts

Right now Moneybox offers one savings product tracked on DepositScout: the Moneybox Cash ISA, a variable-rate easy-access account paying 4.75% AER. That headline rate includes a 1.30% bonus fixed for the first 12 months, after which the underlying variable rate applies. You need a minimum balance of £500 to earn the top rate.

The withdrawal terms are worth understanding before you open. You can make up to three withdrawals every 12 months with the standard Cash ISA, or earn a competitive rate and enjoy unlimited withdrawals with Moneybox's Open Access Cash ISA. If you need regular access to your money, the Open Access option is worth a look, though it pays a lower rate.

On FSCS protection, your deposits are covered up to £120,000 through Moneybox's partner banks rather than under a single banking licence in Moneybox's own name. Your savings are covered by the UK government's Financial Services Compensation Scheme up to the value of £120,000, in the event that a fund or savings account provider goes bust. As with any savings marketplace arrangement, it is worth checking which partner bank holds your money and whether you already have savings elsewhere with the same institution.

Because the rate includes a bonus, set a reminder at around 11 months. You want time to review your options before the bonus expires, not after it already has.

The app experience

The platform has a simple, intuitive design that is ideal for those new to saving and investing. Round-ups can be used alongside weekly, monthly, and one-off deposits, and once you connect an account, transactions can be rounded up automatically to the nearest pound. There is also a payday boost feature that moves a set amount into savings as soon as your salary lands, which takes willpower largely out of the equation.

Most management functions must be done through the app, which may not suit everyone. If you prefer web-based account management or like speaking to someone by phone, that is worth factoring in.

Is it right for you?

Moneybox suits savers who want a clean, low-effort experience and are happy working within a small number of withdrawals per year to earn the top ISA rate. The automation features - round-ups, payday boosts, scheduled deposits - are genuinely useful if your main obstacle is remembering to save in the first place. You can get slightly higher savings rates elsewhere, but if you are looking for a trusted provider interested in building wealth and growing savings, that is where Moneybox can help.

It is less suited to savers who need frequent access to their money, want to manage everything through a desktop browser, or are purely chasing the single highest rate without caring about the wider app experience.

As always, the live rates shown on this page are the most up-to-date figures - worth checking before you decide.