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Moneybox investment platform review

We analyse the charges levied by Moneybox and ask its customers to rate it for service, tools, value for money and more

In this article
What is Moneybox? Is Moneybox any good? What do customers say about Moneybox? What are Moneybox's charges? How much will I pay to invest with Moneybox?
Who is Moneybox good for? Who is Moneybox expensive for? What accounts and services does Moneybox offer? Is your money safe with Moneybox?

What is Moneybox?

Launched in 2016, Moneybox is a smartphone app that lets you invest with as little as £1 and offers a range of savings and investment products.

Is Moneybox any good?

Members can log in to see our review of Moneybox. If you're not already a member, join Which? and get full access to these results and all our reviews.

 

How we rate investment platforms

 

Which?'s rating for customer satisfaction is based on feedback from real customers.

We ask investors to rate their current platform for the quality of its online tools and smartphone app, customer service, and information on investment opportunities and performance. We also ask whether it meets their needs, represents value for money and whether they'd recommend it to someone else.

How do we pick Which? Recommended Providers?

A platform must allow investors to pick their own investments from an extensive list.

It will have received at least a 70% customer rating, and not received a rating below three stars on any of the underlying criteria, such as customer service, investment information or the quality of its online tools.

It also mustn't be in the top four platforms for charges, based on our fee analysis.

What do customers say about Moneybox?

We’ve heard from investors who use Moneybox and this is what some of them had to say:

  • 'It is a really useful company for people looking to get a start in investment. It has a simple guide to help beginners and there's always someone available if you need to ask something.'
  • 'It is a great way to save both for the short and long term. I have been a very happy customer for nearly 6 years.'
  • ‘Moneybox educates people on investing rather than just providing investment options.'

Check out our guide on the best and worst investment platforms to see how Moneybox compared with AJ Bell Youinvest, Hargreaves Lansdown and other investment platforms.

What are Moneybox's charges?

Annual charges

  • 0.45% of the value of your investments

How much will I pay to invest with Moneybox?

We’ve estimated the cost of investing with Moneybox over the course of a year, in a stocks and shares Isa.

All assume you make four purchases and four sales each year, spread out over different months.

Amount invested Annual cost
£5,000 Logged out detail
£10,000 Logged out detail
£25,000 Logged out detail
£50,000 Logged out detail
£100,000 Logged out detail
£250,000 Logged out detail
£500,000 Logged out detail
£1m Logged out detail

Source: Analysis by Which? Money correct as of April 2022

Read our comparison of investment platform charges to see how much investing with Moneybox costs for a range of portfolios.

Who is Moneybox good for?

With its £1 minimum investment and range of savings accounts, Moneybox is a great option for beginner investors who want to start investing a little bit each month.

Who is Moneybox expensive for?

Investors with medium to large portfolios will lose out as a result of Moneybox's high account fee.

Such investors may be better off looking at fixed fee brokers Halifax Share Dealing and Interactive Investor.

What accounts and services does Moneybox offer?

The information below gives an at-a-glance view of the key things that Moneybox accounts and services offer. 

  • Advisory Services – Moneybox offers free mortgage advice.
  • General investment account – can hold different types of investments but doesn't give tax-free benefits like pensions and Isas. 
  • Junior Isa – a tax-free savings account for under-18s. 
  • Savings accounts – Moneybox offers a range of savings accounts. 
  • Sipp – a pension where you have complete control over the investments you put your savings into.
  • Stocks and shares Isa – a tax-free account that allows you to put your money in a range of investments

What can you invest in?

  • 24 funds

What tools and research does Moneybox offer?

  • You can get the app to round up your purchases to the nearest pound, and invest the change
  • House deposit calculator and pension calculator

Is your money safe with Moneybox?

If Moneybox went out of business, you would be compensated by the Financial Services Compensation Scheme (FSCS).

The FSCS will cover up to £85,000 of investments per person, per platform. You can claim for free online: there’s no reason to use a claims management company.

You won’t be compensated for investments falling in value, or a company in which you hold shares goes bust, unless this poor performance resulted from bad advice given by a regulated Independent Financial Advisor that has since gone bust. 

 

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