Moneybox app review

Micro-investments made easy, and it's all through your smartphone...
Moneybox app review

Making sense of the stock market with your smartphone

Moneybox is an app designed to help young savers get to grips with how the stock market works. The app rounds up your card payments to the nearest pound, to then invest the difference in some of world’s biggest companies - like Disney, Facebook, and Apple.


Moneybox is available to download for Android and iOS devices.

What does it do?

Say for example you spend £1.40 on a pastry for breakfast on your way into work. The app will take 60p to round up to £2.00, and save it up for you. And once a week, your savings are collected through direct debit, and invested just a couple of days later.

Once you’ve signed up, you can choose from three different investment methods, depending on how much you’d like to spend, and how you’d like to save. Here’s a brief overview:

You can also use Moneybox as a normal savings option – no stocks or shares involved. In this case, it’ll simply round up all your card payments, and keep the cash in an account for you to withdraw whenever you like. Very much the modern day piggy bank

You don’t have to round up every single purchase. On the app, you’re given a list of all the things you’ve bought, and you then decide which ones you’d like to roundup. So, you can swipe right to roundup, or left to ignore it. This gives you more control over how much you’re putting in the pot.

The guys at Moneybox estimate that the average user saves up to £8.40 per week, which is about £440 over a year. And through smart investments, which they take care of, you could see a growth on your savings.

Is it secure?

This is all well and good, but what about safety – and more importantly legitimacy? Well, Moneybox’s website says the company is “authorised and regulated by the Financial Conduct Authority (FCA). Their goal is to ensure that we always run our business in the best interest of our customers.” You’re also covered by the government’s Financial Services Compensation Scheme (FSCS).

They’ve also got a series of videos explaining the ins and outs of the app, and how your money is dealt with. Here’s one of them to give you a taster:

We’d love to hear your thoughts about micro-investments through your smartphone. Is it a good starting point for young savers? And will you be downloading Moneybox? Leave us a comment below.

0 Stars

What are your thoughts? Join the conversation here…

comments powered by Disqus
We're reviewing YNAB (You Need a Budget), a handy budgeting app that lets you track and control all
Feeling the post-Christmas pinch? We’ve got some handy tips to help you get on top of your spending

7 June, 2019
What a performance! The Xperia 1 has a superb triple lens camera, the world’s first...
8 May, 2019
We visited Google’s head office in central London to catch a glimpse of its new highly-anticipated,...
7 May, 2019
The Huawei P30 Lite is a budget smartphone packed with premium features including...
10 April, 2019
The new Samsung Galaxy A80 has arrived - and it’s got all the specs you’d expect...
4 April, 2019
The Samsung Galaxy S10e might be the smallest of the S10 range, but it’s still got...
8 March, 2019
The Samsung Galaxy S10 is the flagship you’ve been waiting for - it’s everything...
19 November, 2018
The OnePlus 6T is a spectacular phone, packed with amazing tech. Thinking of getting...
16 October, 2018
We’re at ExCel London, where Huawei has just unveiled its new Mate 20 Pro. And we’re...
10 October, 2018
The Google Pixel 3 has arrived. We were luck enough to get our hands on it recently,...
21 September, 2018
Apple Watch Series 4 truly breaks the mould, with some incredible new features and...
13 August, 2018
Samsung are back with perhaps their most exciting release of the summer – the Samsung...
26 June, 2018
Off the back of the Galaxy S9, Galaxy S9 Plus, Galaxy A8 and the Galaxy A6, let us...