Their fees are astronomical.
That’s the same message I got when I contacted them this morning. I’m currently in the process of doing the ‘manaul change’!
That’s 1.8% on the 1k ISA.
Vanguard charge about 0.2%
I just looked at their website and everything is min £100 per month…
If you’re not saving £100 a month for your retirement, you are going to have a really really s**t time when you get there.
Standard rule of thumb: save half your age as a percentage - so the earlier you get started the less you need to save.
Example: 25 year old earning average wage takes home about £1600 a month, half age is 12.5%, that’s £200 a month into retirement.
It’s not for me though, I set one up for little girl.
I don’t currently pay them any fees at all.
I don’t currently pay any fees either. Not that I’ve noticed anyway!
Moneybox did not ask me for any statements and I have DD with Monzo CA
Has there been any updates on this?
It’s reliant on Moneybox contacting Monzo to become an AISP. No idea if that’s happened. There’s nothing much to do from the Monzo end I think.
Moneybox has now completed the integration with Monzo!
It’s about time
Without being a negative nelly, they haven’t yet integrated real time round ups? I’ve just signed up and it seems that it’s every Wednesday as per other banks.
Happy to finally have Moneybox integration but disappointed it’s taken this long, they said it was delayed until they could offer real time round ups. Not simple read only acess and a weekly direct debit.
Monzo’s API doesn’t enable this yet.
But if they see as much as demand as Moneybox suggest they will maybe Monzo will give them early access to their more advanced, separate API when it’s ready
I’d be happy with the realtime aspect just being the act of moving the change to a moneybox pot and then the pot was cleared every Wednesday.
Does this still only debit the change weekly or now per transaction with Monzo?