Moneybox ad airs today

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Rubbish advert except for the checkout guyā€™s reaction :joy:

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Yeah itā€™s a bit meh :joy:,

Gets the point across though

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Anyone fancy sharing what their current return is running at? Chip with 5 referrals give 5%

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Thatā€™s good!

Not a very exciting advert. Says what it does though.

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Over what time period has the money accrued and Is this ā€˜Cautious, balanced or Adventurousā€™?

June 2017 and split is as follows:
https://community.monzo.com/t/how-do-you-make-an-effort-to-save-money-and-how-do-you-intend-to-make-savings-work-for-you/44685/13?u=dunsford

Nice :ok_hand:t2:

The only thing that puts me off is the fees associated with moneybox.

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Making more than theyā€™re charging so far :wink:
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This is my little ones JISA, I stopped putting money in as itā€™s always negative and I get more in interest from Metrobank.

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Check out the Halifax regular saver account. My kids have more money than me! Lol

How is nutmeg performing? Anybody?

I signed up for Moneybox a couple of weeks ago and so far nearly every bit of information Iā€™ve had from them has been incorrect. Closed it today and will look for something else

That checkout guy needs his own meme :rofl:

The ad is shite, but at least itā€™s not some random woman with ā€˜Ā£1.99ā€™ scrawled across her clavicles.

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Hey Mo, care to elaborate some more?

Personally not had any major issues with them, my only gripe is transaction times, from collection and debit to settlement. Though itā€™s fairly minor really.

And yes, the ad isnā€™t amazing, but it does give a pretty good overview of what it actually is/does.

@CTE I created the account, set the amount, it told me that DDs were always taken on a Wednesday and the 1st DD would be setup and then taken in 9 days time.

A couple of days later DD was set up, for different amount than Iā€™d specified (possibly to take 2 weeks worth, but thatā€™s a guess) and I got a notification to tell me my first DD had been claimed. Nothing appeared to leave my bank account or was credited to my Moneybox account.

Late last week I got advance notification from Monzo that the DD was due to be claimed on Monday. Tried to contact Moneybox several times during the week and weekend to clarify (as theyā€™d specified this Wednesday coming) but each time there was a message on the chat saying ā€œweā€™re back tomorrow from 9amā€. I now know their office hours and realise that was just a bug, but basically thought I couldnā€™t get hold of them.

Decided to close the account but couldnā€™t initially because of the DD being processed (understandable) was given a phone number to call. Closed at weekends so rang today. It said, we canā€™t answer your call, use the chat. Thatā€™s when I figured out the chat message I was seeing was a bug.

I only set it up for a small amount to get started and see how it worked, but I was left feeling like I didnā€™t know what was happening or when.

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The ad makes it seem like everything is instantly invested. It actually takes a good few weeks for your initial amount to get invested. First they have to set up the DD, then it ā€˜collectsā€™ an amount. This just means youā€™ve reached the cutoff point for that week and thatā€™s how much theyā€™ll collect by direct debit on Monday. Then it takes varying amounts of time for the money to be invested and finally settled.

Itā€™s a lot clearer after the first few weeks but they do a pretty poor job of explaining what will happen, why and how.

Iā€™ve just set it up as a fixed Ā£25 per week as I never felt comfortable using the round up feature. I didnā€™t like the period in-between where I was uncertain how much would be taken without constantly checking the Moneybox app.

It works a lot better with Monzo in Committed Spending like this too.

The ads pretty awful.

Iā€™m considering pulling my money out as Iā€™m sure there are similar options out there without the not so insignificant fees for a shiny app.

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