When Will Monzo Offer an ISA?

Something in this mould, though less restrictive https://www.assetmanagement.hsbc.co.uk/en/institutional-investor/investment-expertise/multi-asset

People are catching onto Savings Accounts and realizing they just get eaten up by inflation. Offering a high quality, competitive ISA would help Monzo get ahead of the curve!

They do already…


Monzo doesn’t offer their own ISA.

Monzo offers ISA’s provided by OakNorth, Charter Savings Bank, Investec, Paragon and Shawbrook.


@JCCJ It would be more suitable to ask when will Monzo start providing access investment products. What you have linked to is an investment product.

As has already been mentioned in the thread, Monzo already provide access cash ISA. However they don’t currently provide access to investment ISAs or other investment accounts.

Monzo’s business structure is to be a market place and offer access to third party services rather than building their own like a traditional bank. So it is very unlikely that Monzo will ever make their own ISA and will continue to only supply third party ISAs

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  1. You mean an S&S ISA. They already offer Cash ISA’s.
  2. You’ve linked to an HSBC asset management for institutional investors.
  3. Linking to HSBC products as anything to use as a mould, with their crazy fees and fund selections, that eat into your returns for no good reason is misguided.

I’d suggest you brush up on your personal finance. What you should be asking is when will Monzo offer minimal/no-fee S&S ISA’s with a wide selection of low-fee passive ETF’s and/or funds.

That said, such a thing already exists. Look up Freetrade.

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Well yeah of course they did. I never said they weren’t a bank, I said they’re a banking marketplace that offers third party services instead of supplying their own.

Why nitpick my wording when I supplied a perfectly acceptable answer to the OPs question?

They have an ISA licence now. So I wouldn’t be shocked if they had their own for next tax year.

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Well, I of course wasn’t suggesting HSBC produce good products! I was just enquiring if anything similar (but better!!) may be in the offing from Monzo. I have had a look at Freetrade, it looks intersting but there is a lack of detail. It talks about investing and says there’s no fees (which is fab!) but there’s a lack of detail about what I’m investing into. A global fund? US stocks only? It doesn’t say, and if I can’t find out, I can’t take that risk!

With Freetrade you invest into whatever you want. Search the stock or ETF you want, read up on it and purchase.

My apologies, they have not launched it yet. https://blog.freetrade.io/isas-are-coming-4639e0ab6d32 I should add that I am not currently interested in ETFs or stocks just yet, they may be for later. I am more interested in getting my teeth into an ISA. I am excited to see what they have to offer though! On the other hand, I can’t wait around too long, I’ve had a look and Vanguard offer some cheap ISAs that grow well.

ISA’s have launched with Freetrade. Vanguard don’t do any Robo investor ISA’s either you have to pick what you want to do.

I think you need to do a lot more research of what a Stocks & Shares ISA is and does, comparing robo and self investment versions, because you’re miles off the pace and there’s a very real risk of losing your money if you put it somewhere you don’t fully understand.

Do you actually know what an ISA is? What do you mean getting your teeth into an ISA? An (S&S) ISA is just an account that holds stocks, ETFs and funds. Getting your teeth into one without being interested in stocks, ETF’s or funds means looking at a blank account screen with £0 in it that does absolute nothing. Putting money into an ISA will result in 0% growth unless you actually invest it into something.

Also, the blog post you linked to was from a year ago, Freetrade do offer ISA’s.

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@JCCJ You may benefit from reading one or both of these guides:

In particular, note that there are several types of ISA and Monzo already provides some options for one type of ISA (cash ISA). You need to be a bit more specific about which ISA you are interested in.

Also, most ISAs also come in non-ISA versions. An ISA is just a taxt-free wrapper for various types of savings and investment accounts. It may be that what you are actually interested in is a certain account type regardless of whether or not it comes in an ISA wrapper.

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