Moneybox Withdrawals

Financial Chat
1

I processed a withdrawal last Wednesday with Moneybox, I’ve just noticed the withdrawal date as being 2 weeks on from this, with a subsequent 3-5 working days after this. It’s going to Revolut so at least it will be a day early. I was aware of the length of time it would take, but more interested in why?

All in all, it seems a bit long winded given they give the instruction to sell on the next working day. Perhaps it is so as to discourage people from withdrawing their funds. Am I wrong to come to this conclusion?

Is the process any better/quicker with any of Moneybox’s competitors? I’m withdrawing to put it into Wealthify and get the MSE cashback of £40.00, so hoping the process with them if I ever want/need to withdraw.

2

The help article states they notify the fund managers to sell the stock and it could take 2-3 weeks it’s quite clear how long it can take for this process to happen.

For me it took a week for them to action the request and sort the money.

1 Like
3

27th Jan has come up in the account feed, but I wasn’t aware it could be done any quicker than said date?