Moneybox ad airs today

2 Likes

Rubbish advert except for the checkout guy’s reaction :joy:

6 Likes

Yeah it’s a bit meh :joy:,

Gets the point across though

3 Likes

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

2 Likes

That’s good!

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

1 Like

Over what time period has the money accrued and Is this ‘Cautious, balanced or Adventurous’?

June 2017 and split is as follows:

Nice :ok_hand:t2:

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

1 Like

Making more than they’re charging so far :wink:

This is my little ones JISA, I stopped putting money in as it’s always negative and I get more in interest from Metrobank.

IMG_2773

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 I’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 it’s not some random woman with ‘£1.99’ scrawled across her clavicles.

1 Like

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 it’s fairly minor really.

And yes, the ad isn’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 I’d specified (possibly to take 2 weeks worth, but that’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 they’d specified this Wednesday coming) but each time there was a message on the chat saying “we’re back tomorrow from 9am”. I now know their office hours and realise that was just a bug, but basically thought I couldn’t get hold of them.

Decided to close the account but couldn’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 can’t answer your call, use the chat. That’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 didn’t know what was happening or when.

1 Like

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 ‘collects’ an amount. This just means you’ve reached the cutoff point for that week and that’s how much they’ll collect by direct debit on Monday. Then it takes varying amounts of time for the money to be invested and finally settled.

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

I’ve just set it up as a fixed £25 per week as I never felt comfortable using the round up feature. I didn’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.

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

2 Likes