{"id":22407,"date":"2020-03-31T10:23:25","date_gmt":"2020-03-31T10:23:25","guid":{"rendered":"https:\/\/adamfayed.com\/?p=22407"},"modified":"2025-12-08T08:27:01","modified_gmt":"2025-12-08T08:27:01","slug":"moneybox-review","status":"publish","type":"post","link":"https:\/\/adamfayed.com\/it\/review-articles\/moneybox-review\/","title":{"rendered":"Recensione del Salvadanaio"},"content":{"rendered":"<p>This article will review MoneyBox and ask if they are a good app to use. It will especially look at things from a UK tax residents point of view vs somebody who is an expat or plans to leave the UK in the future.<\/p>\n\n\n\n<p>I miei recapiti sono hello@adamfayed.com e WhatsApp +44-7393-450-837 se avete domande.<\/p>\n\n\n\n<p>Le informazioni contenute in questo articolo hanno un valore puramente indicativo. Non costituiscono consulenza finanziaria, legale o fiscale e non rappresentano una raccomandazione o una sollecitazione a investire. Alcuni fatti potrebbero essere cambiati dal momento della stesura. &nbsp;<\/p>\n\n\n\n<p>For those that prefer visual content, the video below summaries the content below:<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"Recensione del Salvadanaio\" width=\"800\" height=\"450\" src=\"https:\/\/www.youtube.com\/embed\/21ItOXGMZag?feature=oembed&#038;enablejsapi=1&#038;origin=https:\/\/adamfayed.com\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Who are MoneyBox?<\/strong><\/h2>\n\n\n\n<p>Moneybox is a saving and investing app that tries to make life more convenient for UK residents.&nbsp; They are mainly focused on being a \u201cspare change app\u201d. &nbsp;<\/p>\n\n\n\n<p>For example, the Moneybox Round ups mean if you buy a 3.30 pound coffee at the store, and you use 4 pounds, the 70 pence will be used in your \u201cdigital piggybank\u201d.<\/p>\n\n\n\n<p>All of these small round-ups will build up.&nbsp; Every Wednesday, these small savings will be tallied together and taken to be invested into your account.<\/p>\n\n\n\n<p>Of course, you can also invest in a more conventional way adding money to your account in bigger sums.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">What products and services do they offer?<\/h3>\n\n\n\n<p>They offer a range of products and services including:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Stocks and Shares ISAs for UK&nbsp; tax residents. With this option you can invest up to 20,000 pounds tax free every year. This is a significant tax benefit over a lifetime.<\/li>\n\n\n\n<li>Junior ISA for UK tax residents. Like the standard ISAs, you can invest every year tax free for your child, but the limits are lower. &nbsp;<\/li>\n\n\n\n<li>Investment Accounts.<\/li>\n\n\n\n<li>Pensions.<\/li>\n\n\n\n<li>\u201cEthical investments\u201d.&nbsp; Their socially responsible investing is managed by Old Mutual and avoids investing into certain areas like oil &amp; gas.&nbsp; The issue with socially responsible investing is what is ethical for person A, isn&#8217;t always moral for person B.  <\/li>\n\n\n\n<li><a href=\"https:\/\/en.wikipedia.org\/wiki\/Robo-advisor\" target=\"_blank\" rel=\"noreferrer noopener\">Robo advisory<\/a> servizi.<\/li>\n\n\n\n<li>Ready-made portfolios&nbsp;for those that don&#8217;t want to pick their own investments. <\/li>\n\n\n\n<li>Savings accounts. For those looking to merely save money rather than invest, Moneybox offers competitive rates of savings.&nbsp; The rates are currently 1.65% for a notice savings account, which means you need to give them 95 days notice before withdrawing. This is done through their partner bank Investec.&nbsp; They also have a lifetime ISA, offering 1.4%. However, with this option, you can only withdraw for specific purposes &#8211; for example you are buying your first house or you are 60. &nbsp;If you withdraw for another purpose, you are charged exit penalties. <\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<p>Within Moneybox, there are three main options when it comes to investing money; the cautious, balanced and adventurous funds.<\/p>\n\n\n\n<p>The cautious fund is more diversified, and has a lot of conservative investments into government bonds and cash.<\/p>\n\n\n\n<p>In comparison, the growth fund has a much larger percentage of money going into global stock markets, and a smaller amount into government bonds.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"787\" height=\"353\" src=\"https:\/\/adamfayed.com\/wp-content\/uploads\/2020\/03\/a1-38.jpg\" alt=\"\" class=\"wp-image-22408\" srcset=\"https:\/\/adamfayed.com\/wp-content\/uploads\/2020\/03\/a1-38.jpg 787w, https:\/\/adamfayed.com\/wp-content\/uploads\/2020\/03\/a1-38-300x135.jpg 300w, https:\/\/adamfayed.com\/wp-content\/uploads\/2020\/03\/a1-38-768x344.jpg 768w, https:\/\/adamfayed.com\/wp-content\/uploads\/2020\/03\/a1-38-81x36.jpg 81w\" sizes=\"(max-width: 787px) 100vw, 787px\" \/><figcaption class=\"wp-element-caption\"><sub><sup>Source; Money Check.<\/sup><\/sub><\/figcaption><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What are the positives about MoneyBox?<\/strong><\/h2>\n\n\n\n<p>The main positives associated with this app is:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>It is a good option for beginner DIY investors that want to invest into ready-made portfolios or through robo-advice. You can invest for as little as 1GBP ($1.20 or so)!<\/li>\n\n\n\n<li>You can connect your card to the app, so the process is very simple.<\/li>\n\n\n\n<li>The fees are reasonable &#8211; less than 1% per year.<\/li>\n\n\n\n<li>They do have a range of services, such as the junior ISA, which can be excellent for UK tax residents, that plan to stay in the UK for the long-term.<\/li>\n\n\n\n<li>They are a safe company to invest with. There again, it is a misconception to suggest that most aren&#8217;t safe.  Almost all companies these days are regulated and have checks and balanced.  We aren&#8217;t in 1965 or 1975!<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Quali sono gli aspetti negativi?<\/strong><\/h2>\n\n\n\n<p>The main negatives with this option are:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Whilst it might be a great option for beginner investors in the UK who don\u2019t have a lot of capital, they aren\u2019t well suited to people that have very specific needs. For example, an expat living in the UK, or a British person planing to move overseas, won\u2019t be well-served in this platform.<\/li>\n\n\n\n<li>Most of the people using this app are trying to DIY invest. That is fine for those people who have the self-control to invest. That is easier said than done.&nbsp; I have lost count of the number of people who have pledged to me that they would be self-disciplined if markets went down, only to panic or invest less during periods like 2008 and the current 2020 bear market.&nbsp; Numerous DIY platforms have reported that money outflows has increased during 2020, just like in 2008.&nbsp; It is a bit like going to the gym. We all know how to use gym equipment but a good personal trainer can help us use the equipment correctly. The same thing is true for investing. A good advisor can help with emotional impulses as much as the technical side, and be a counter-voice in your head, when you are about to panic. Robo-advice is less likely to be as persuasive as a human when it comes to controlling emotions during a market crash. <\/li>\n\n\n\n<li>There have been numerous reports of sub-standard customer service.  <\/li>\n\n\n\n<li>The fees are super low considering there is no professional advice being offered.&nbsp;Some advisors offer an &#8220;all in&#8221; charge of 1% per year, which isn&#8217;t that much more expensive than this option.  <\/li>\n\n\n\n<li>The savings rates are below the rate of inflation and are likely to come down.&nbsp; Many people putting money into savings accounts are worried about market volatility, when in reality, you don\u2019t need to worry about that as a young person.&nbsp; Markets have always historically risen long-term, as any long-term graph of the S&amp;P500, FTSE All Shares or Dow Jones will show.&nbsp;<\/li>\n\n\n\n<li>The ready made portfolios aren&#8217;t as good long-term, compared to many bond and index funds.   <\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Conclusione&nbsp;<\/strong><\/h2>\n\n\n\n<p>Moneybox are an excellent option for beginner investors in the UK who are just starting out.&nbsp; For example, students or young professionals.<\/p>\n\n\n\n<div class=\"wp-block-group is-layout-constrained wp-block-group-is-layout-constrained\">\n<figure class=\"wp-block-image alignright size-large is-resized\"><img decoding=\"async\" width=\"512\" height=\"512\" src=\"https:\/\/adamfayed.com\/wp-content\/uploads\/2023\/11\/22407_young_investors_is_looking_at_their_mobile_phone._e0195dad-5582-4549-8797-8f676ddd746f-512x512.png\" alt=\"Moneybox Review\" class=\"wp-image-71912\" style=\"width:232px;height:auto\" srcset=\"https:\/\/adamfayed.com\/wp-content\/uploads\/2023\/11\/22407_young_investors_is_looking_at_their_mobile_phone._e0195dad-5582-4549-8797-8f676ddd746f-512x512.png 512w, https:\/\/adamfayed.com\/wp-content\/uploads\/2023\/11\/22407_young_investors_is_looking_at_their_mobile_phone._e0195dad-5582-4549-8797-8f676ddd746f-300x300.png 300w, https:\/\/adamfayed.com\/wp-content\/uploads\/2023\/11\/22407_young_investors_is_looking_at_their_mobile_phone._e0195dad-5582-4549-8797-8f676ddd746f-150x150.png 150w, https:\/\/adamfayed.com\/wp-content\/uploads\/2023\/11\/22407_young_investors_is_looking_at_their_mobile_phone._e0195dad-5582-4549-8797-8f676ddd746f-81x81.png 81w, https:\/\/adamfayed.com\/wp-content\/uploads\/2023\/11\/22407_young_investors_is_looking_at_their_mobile_phone._e0195dad-5582-4549-8797-8f676ddd746f.png 573w\" sizes=\"(max-width: 512px) 100vw, 512px\" \/><\/figure>\n<\/div>\n\n\n\n<p>They aren\u2019t as good for people with specific needs (expats, high net wealth or another specific niche) and are a UK-centric option.<\/p>\n\n\n\n<p>So options like this are good for a first time investor, before migrating to a more specific and sophisticated platform.&nbsp;<\/p>\n\n\n\n<p>Likewise, just like 99% of other providers, their savings accounts aren&#8217;t worth it these days, with rates below inflation in most cases.<\/p>\n\n\n\n<p>Those interest rates are likely to decline further, after the recent moves by the Bank of England, to cute rates. <\/p>\n\n\n\n<p>Another good service for beginners in the UK is the Money Advice Service which we talk about <a href=\"https:\/\/adamfayed.com\/it\/review-articles\/money-advice-service-review\/\">qui<\/a>.&nbsp;<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Siete afflitti dall'indecisione finanziaria? <\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" width=\"512\" height=\"288\" src=\"https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/03\/Adam-Fayed-Contact_CTA3-512x288.jpg\" alt=\"\" class=\"wp-image-117505\" style=\"width:683px;height:auto\" srcset=\"https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/03\/Adam-Fayed-Contact_CTA3-512x288.jpg 512w, https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/03\/Adam-Fayed-Contact_CTA3-300x169.jpg 300w, https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/03\/Adam-Fayed-Contact_CTA3-768x432.jpg 768w, https:\/\/adamfayed.com\/wp-content\/uploads\/2025\/03\/Adam-Fayed-Contact_CTA3-scaled.jpg 825w\" sizes=\"(max-width: 512px) 100vw, 512px\" \/><\/figure>\n\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/adamfayed.com\/it\/become-adams-client\/\">Diventa mio cliente<\/a><\/div>\n\n\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/adamfayed.com\/it\/good-match-quiz\/\" target=\"_blank\" rel=\"noreferrer noopener\">Fare il quiz sull'idoneit\u00e0 del cliente<\/a><\/div>\n\n\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/adamfayed.com\/it\/contact\/\" target=\"_blank\" rel=\"noreferrer noopener\">Contatto<\/a><\/div>\n<\/div>\n\n\n\n<p><strong>Adam \u00e8 un autore riconosciuto a livello internazionale in materia finanziaria con oltre 830 milioni di visualizzazioni di risposte su Quora, un libro molto venduto su Amazon e un contributo su Forbes.<\/strong><\/p>","protected":false},"excerpt":{"rendered":"<p>This article reviews Moneybox. <\/p>","protected":false},"author":1,"featured_media":22412,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10166176115445471_100883565069113":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[11534],"tags":[],"class_list":["post-22407","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-review-articles"],"_links":{"self":[{"href":"https:\/\/adamfayed.com\/it\/wp-json\/wp\/v2\/posts\/22407","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/adamfayed.com\/it\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/adamfayed.com\/it\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/adamfayed.com\/it\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/adamfayed.com\/it\/wp-json\/wp\/v2\/comments?post=22407"}],"version-history":[{"count":3,"href":"https:\/\/adamfayed.com\/it\/wp-json\/wp\/v2\/posts\/22407\/revisions"}],"predecessor-version":[{"id":242399,"href":"https:\/\/adamfayed.com\/it\/wp-json\/wp\/v2\/posts\/22407\/revisions\/242399"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/adamfayed.com\/it\/wp-json\/wp\/v2\/media\/22412"}],"wp:attachment":[{"href":"https:\/\/adamfayed.com\/it\/wp-json\/wp\/v2\/media?parent=22407"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/adamfayed.com\/it\/wp-json\/wp\/v2\/categories?post=22407"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/adamfayed.com\/it\/wp-json\/wp\/v2\/tags?post=22407"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}