Moneybox

Moneybox splits its charges across investing accounts and savings accounts, and the two work very differently. Here's the verified breakdown as of March 2026.

Investing accounts (Stocks & Shares ISA, S&S Lifetime ISA, Junior ISA, GIA, Personal Pension):

• Monthly subscription fee: £1/month — free for the first 3 months, and waived entirely if you hold £5,000+ in their Cash ISA and/or Simple Saver
• Platform fee: 0.45% per year, charged monthly
• Pension fee: 0.45% on the first £100,000, dropping to 0.15% above £100,000 (for standard funds)
• New IFSL Moneybox pension funds: platform fee reduced to just 0.15%, capped at £150/year — genuinely competitive
• Fund provider fees (OCF): varies between 0.12% and 0.70% depending on the fund. The new Moneybox pension funds have an OCF capped at 0.29%
• FX conversion fee: 0.45% each way when buying or selling US stocks
• No dealing/trading commissions
• No exit or withdrawal fees

What that actually costs you:

A typical investor with £3,000 in the Balanced option pays roughly ~1.02% all-in (0.45% platform + ~0.17% fund fee + ~0.40% effective subscription cost). On £10,000, the subscription impact shrinks and you're looking at about 0.74% total — still above the cheapest alternatives but not outrageous.

For context, Vanguard charges 0.15% platform fee (capped at £375) plus similar fund fees. InvestEngine charges 0% platform fee on its auto-invest portfolios. So Moneybox is not cheap for investing — it's the price you pay for the hand-holding.

The pension is where it gets interesting. If you use the new IFSL Moneybox funds (the default for new customers), the platform fee drops to just 0.15%, capped at £150/year. Fund fees are capped at 0.29%. Total: around 0.44% — genuinely competitive. On £100,000 that's £150 + ~£290 = £440/year, versus £450 at Hargreaves Lansdown (and HL has no cap). Choose third-party funds instead, and the platform fee jumps back to 0.45% with no cap.

Savings accounts (Cash ISA, Cash LISA, Simple Saver, Fixed-rate savings) have no platform fees at all — they make money on the margin between what the underlying banks pay and what they pass on to you.

Cash ISA rates (as of March 2026):

• Cash ISA (new customers): 4.00% AER (variable)
• Cash ISA (existing customers): 3.25% AER (variable)

Moneybox Ltd is authorised by the FCA (register entry 712935) and your money is protected by the FSCS up to £120,000 for cash deposits (per banking group) and up to £85,000 for investments.

Fee details verified at the Moneybox fee breakdown.

Moneybox covers a lot of ground for an app-based platform. Here's the full account lineup as of March 2026:

• Stocks & Shares ISA — £20,000 annual allowance, tracker funds + ETFs + US stocks
• Cash ISA — 4.00% AER for new customers, 3.25% for existing
• Cash Lifetime ISA — for first-time buyers aged 18-39, 25% government bonus
• Stocks & Shares Lifetime ISA — same bonus, but invested in funds
• Junior ISA (Stocks & Shares) — £9,000 annual allowance
• Personal Pension (SIPP) — with pension finder tool and consolidation
• General Investment Account — no annual limit
• Simple Saver — easy-access savings, not an ISA
• Fixed-rate savings — notice and fixed-term accounts
• Business Saver — for freelancers and limited company directors

That's an impressive lineup. Most app-based competitors don't offer pensions, junior ISAs, and cash savings all in one place.

Investment options are deliberately limited. You won't find thousands of funds here. Instead, you get:

• Three Starting Options: Cautious, Balanced, Adventurous (each a pre-built mix of tracker funds)
• ESG variants of each
• A handful of individual tracker funds and ETFs — Global Shares (0.12%), Global Shares ESG (0.17%), Global Health & Pharma, Global Property ESG, and others
• US individual stocks — big names like Apple, Amazon, Coca-Cola, JPMorgan
• IFSL Moneybox pension funds at 0.29% OCF (capped)

You cannot buy individual UK shares, investment trusts, bonds, or pick from the full universe of funds available on platforms like AJ Bell or HL. If you want to buy Scottish Mortgage or a specific Fundsmith fund, look elsewhere.

For a full explanation of ISA types and allowances, see our complete guide to ISAs. If you're a first-time buyer, the Lifetime ISA is one of Moneybox's strongest products — read our first ISA guide for help getting started. Source: Moneybox.

The good stuff:

• Brilliantly simple onboarding. You can go from download to invested in under 10 minutes. The three Starting Options remove the paralysis of choice that stops many people from ever investing
• Round-ups are genius. Link your bank account, and Moneybox rounds up your card spending to the nearest pound and invests the spare change. It's painless, it builds a habit, and it adds up
• Lifetime ISA dominance. They're the UK's biggest LISA provider for a reason — the process for buying your first home through the app is smooth, and the Cash LISA rate is competitive
• Pension consolidation is excellent. The pension finder tool and "Pension Detectives" service helps you track down old workplace pots. The 0.15% capped fee on Moneybox funds is genuinely cheap — see our pensions hub for more on consolidation
• The ecosystem works. Having savings, ISAs, a pension, and a JISA all in one app gives you a proper dashboard of your financial life. The "Aurora" guidance engine and pension calculator add real value
• FSCS protected. Cash held with their panel of banks is covered up to £120,000 per banking group. Investments covered up to £85,000

The not-so-good:

• 0.45% platform fee is middling. It's not expensive compared to HL (also 0.45%), but it's three times what Vanguard charges and infinitely more than InvestEngine's free tier
• Very limited investment range. No UK shares, no investment trusts, no individual bonds, no broad fund marketplace. Fine for passive investors — frustrating for anyone who wants more control
• Cash ISA rate gap. New customers get 4.00% AER but existing customers only get 3.25% — watch for rate changes and consider switching if better deals emerge
• App-only. No desktop web platform for managing investments. If you prefer a proper browser interface with detailed portfolio analysis, this isn't it
• £1/month subscription is a minor annoyance on small pots — on a £500 portfolio, that £12/year adds a hidden 2.4% charge on top of everything else

Source: Moneybox fee breakdown.

Moneybox is ideal if you:

• You're a first-time investor who wants to start small and keep things simple. The Starting Options and round-ups remove every barrier to getting started
• You're a first-time buyer saving for a deposit. The Cash and S&S Lifetime ISAs are best-in-class, and the 25% government bonus is free money
• You want everything in one app — savings, ISA, pension, JISA. The all-in-one dashboard is genuinely useful for getting a handle on your finances
• You're consolidating old pensions. The finder tool is excellent and the 0.15% capped fee on Moneybox pension funds is hard to beat
• You prefer set-and-forget investing. Pick a risk level, set up a monthly deposit, and let it compound

Look elsewhere if you:

• You want to pick individual UK stocks or investment trusts — they simply don't offer them
• You have a large portfolio (£50k+) and are fee-sensitive. At 0.45%, a £100,000 portfolio costs £450/year in platform fees alone. Vanguard would charge £150. Interactive Investor's flat fee (around £144/year) would save you hundreds
• You want detailed research tools, charting, or a desktop interface. Moneybox is mobile-first and intentionally stripped back
• You're a confident, experienced investor who wants maximum choice and minimum cost. Platforms like InvestEngine, Vanguard, or Interactive Investor will serve you better
• You're chasing the best savings rate and willing to switch regularly. New vs existing customer rates differ significantly (4.00% vs 3.25% on the Cash ISA)

Brand new to investing? Start with our beginner's guide to investing before choosing a platform. And make sure you understand how ISAs work to make the most of your £20,000 annual allowance.

Source: Moneybox.

Here's how Moneybox stacks up against the most relevant competitors for its target audience:

vs Vanguard: Vanguard is cheaper (0.15% platform fee) with a similarly simple approach and excellent low-cost index funds. But Vanguard doesn't offer cash ISAs, Lifetime ISAs, savings accounts, or round-ups. If you just want cheap passive investing, Vanguard wins on price. If you want the full savings-and-investing ecosystem, Moneybox wins on breadth.

vs InvestEngine: InvestEngine offers free managed portfolios with no platform fee — hard to argue with. But it only does investing (no savings, no LISA, no pension consolidation). For pure S&S ISA investing, InvestEngine is cheaper. For everything else, Moneybox has more to offer.

vs J.P. Morgan Personal Investing (Nutmeg): Similar app-based, managed-portfolio approach, but J.P. Morgan charges 0.75% on smaller pots and 0.35% above £100k, plus fund fees. Moneybox is cheaper for most balances and has a wider product range including cash savings.

vs Hargreaves Lansdown: HL charges the same 0.45% platform fee but gives you access to thousands of funds, investment trusts, UK and international shares, and deep research tools. If you want maximum choice and don't mind paying for it, HL is the grown-up option. Moneybox is for people who find HL overwhelming.

On pensions specifically, Moneybox's 0.15% capped fee on their own IFSL funds makes it one of the cheapest personal pensions available — cheaper than Vanguard (0.15% but capped higher at £375), much cheaper than HL (0.45% uncapped up to £250k), and competitive with PensionBee.

For independent guidance, see MoneyHelper's platform comparison.

Regulatory note: Moneybox Ltd is authorised and regulated by the Financial Conduct Authority (FCA) (FRN 712935). Your eligible deposits are protected up to £120,000 by the Financial Services Compensation Scheme (FSCS). Investments are protected up to £85,000.

Related reading: ISA guide | Savings hub.

Capital at risk. This article is for informational purposes only and does not constitute financial advice. The value of investments can go down as well as up, and you may get back less than you invest. Past performance is not a reliable indicator of future results. Tax treatment depends on individual circumstances and may change in the future. Always do your own research or consult a qualified financial adviser before making investment decisions. Moneybox Ltd is authorised and regulated by the Financial Conduct Authority (FRN 712935). Your eligible deposits are protected by the FSCS up to £120,000 per banking group, and investments up to £85,000.