Messy as in an unspecified amount (unless you’ve been on the moneybox app to check) will be removed from your account once per week as a lump sum. Unless i’m missing something it doesn’t feel like an elegant solution.
I see, yeah I’m looking forward to having an interface like this one, for the providers that Monzo integrate into the app -
Image from here.
If they don’t make the withdrawals live, I’m sure that, that this could display that figure too.
Starling have previewed that sort of thing -
Image from here.
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Yes absolutely, it just feels a bit unfinished at the moment but the concept is good.
The separate pot solution would work nicely.
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How do they take the money? Is it a card transaction?
Direct debit once a week
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Ah, that’s why they can’t do instant stuff then. They need 3-5 days to take a payment
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is it possible or are they gonna be able to do instant transactions
They’ll either have to switch to making a card transaction instead of DD (which I don’t see happening) or wait until Monzo has completed the api to allow them to initiate payments from our account.
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When I posed the question to them the other day they said they won’t do instant payments until instant Direct Debits are a thing that are being trialed in Japan apparently
Currently notice has to be provided before a direct debit can be taken as part of the Direct Debit Guarantee, so until something changes, I don’t see instant direct debits happening any time soon.
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Certainly on BACS Direct Debits, but when Monzo have € accounts the SEPA Direct Debit system is different to BACS, and with recent moves by SEPA to speed up SCT to SCTinst they may make SDD faster too, which would be good for those with Euro accounts.
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Anybody else’s DD not happened for the first week for Monzo?
I think the first one is late by a few days but my one for this week hasn’t been collected yet…
No, (apart from the merchant’s names not looking that pretty, feature coming 
) mine went out fine. What did the support team say when you raised this with them?
what sort of returns are people getting with money box?
for the last 3 weeks-ish I seem to be just above a pound less than ive paid in
Mines looking pretty sad too. I think I’m going to switch to nutmeg at some point - probably when my deposit in moneybox is over the £500 minimum they require.
I’m on the LISA so it’s quite hard to tell, I don’t get much choice with where to have a LISA so I’m okay with money box
@Lewisoc @caspararemi it’s definitely worth taking the long view when thinking about the likes of Moneybox et al. Don’t feel too defeated by those initial marginal losses, you’ll likely hit some bumps and bangs along the way, especially right now as the market is a little jittery over trade war concerns, combined with a fair amount of geopolitical uncertainty. If you are in it for the long term, I’d stay the course, no matter what platform you’re using.
Not sure if you guys have heard of cost averaging in investing but Investopedia have a useful article here explaining the ins and outs. It’s a little US centric but it applies to everywhere, and the likes of Moneybox. The real sting with all these robo savers/investors however are fees, which can really add up over time (imagine how much more you could have saved by throwing in that 1% to your savings pot over 20 years) but I love the principle.
If you haven’t had a look yet, check out freetrade.io, they are about to launch a fee free stockbroker. It’s execution only, but they will offer a pretty exciting set of features, assets and markets, including fractional US share ownership. I think they will actually be a nice step up from the likes of Wealthify and Moneybox in the long term, and these guys are genuinely building an amazing product.
Come say aloha on the community over there if you haven’t already, there’s some really interesting chats and friendly voices!
Not advice.
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Ive signed up for free trade, even managed to make an investment!
but is there an actual release date yet or any isa options?
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Awesome @Lewisoc! 
As it stands, I don’t think there’s a confirmed date for release, though I thought the end of summer had been mentioned by the Freetrade team?
The iOS app is currently being tested internally, and is being used to place live trades, but I think the team are making sure the core product works beautifully before they start the roll out in earnest. There are some screenshots over on the forum and I have to say, it looks hot!
On ISAs, the short answer is yes, there will be a Stocks and Shares ISA with further details here and here.