Savings accounts
19 Support topics
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How does Moneybox calculate cash interest for savings accounts?
Interest on all of our accounts is calculated daily and is paid into your account on the 1st of…
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What does my access date mean?
The access date shown in the app is the date your 1 Year Fixed Rate balance can be accessed….
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Can I have multiple 1 Year Fixed Rates?
Yes, you can open multiple 1 Year Fixed Rates. However, you can only open one per funding window. If…
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Can I withdraw from my 1 Year Fixed Rate before the access date?
No. Payments into your 1 Year Fixed Rate can’t be reversed or withdrawn once made. The product also doesn’t…
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How does paying in to a 1 Year Fixed Rate during the funding window work?
When you open a 1 Year Fixed Rate, you’ll have a set funding window in which you can add…
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How is interest calculated for the 1 Year Fixed Rate and when is it paid?
Interest is calculated daily, based on the total balance of your 1 Year Fixed Rate, and money you add…
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What are my options when my 1 Year Fixed Rate matures?
When your fixed term ends, the interest you’ve earned is added to your 1 Year Fixed Rate balance, and…
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What is the 1 Year Fixed Rate and how does it work?
The 1 Year Fixed Rate is a savings product which offers a fixed interest rate of 3.75% AER for…
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What happens when I want to withdraw from a Notice Account?
Withdrawals can be requested in-app in Settings > Withdraw. Once you initiate a withdrawal, the amount requested continues to…
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When is interest paid into my savings account?
Interest for our cash savings accounts (including the Cash LISA and Cash ISAs) is calculated on a daily basis…
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How can I pay into my savings account?
Any payments you make into your Moneybox account are debited from your linked bank account, which must be a…
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What’s the eligibility criteria for the Simple Saver reward rate?
You can earn a 3.40% AER (variable) reward rate on your Simple Saver if you have either: a balance…
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What is the Simple Saver reward rate?
You can earn a reward rate of 1% (variable) on top of the underlying rate of 2.40% AER (variable)…
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What savings accounts does Moneybox offer?
We currently offer three types of savings products – notice savings, fixed rate and regular access. With Notice Accounts,…
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What is the Simple Saver and how does it work?
The Simple Saver is a savings account which allows you to build your savings and access your money when…
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What are the fees for savings accounts?
We do not charge a customer service fee for our savings products. Instead, we will receive a fee from…
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What are Notice Accounts?
Notice Accounts can offer higher interest rates compared to instant access savings accounts – in exchange for a higher…
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What if I need the money in my Notice Account straight away?
It isn’t possible to withdraw from our Notice Accounts without the waiting period, or to expedite the withdrawal process…
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What happens when I want to withdraw from my savings account?
You can request withdrawals for our Simple Saver and Notice Accounts in the app by heading to Settings >…
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It's important you know
Capital at risk. All investing should be for the longer term. The value of your investments can go up and down, and you may get back less than you invest. Tax treatment depends on individual circumstances and may be subject to change in the future.
A 25% government penalty applies if you withdraw money from a Lifetime ISA for any reason other than buying your first home (up to £450,000) or for retirement, and you may get back less than you paid into your Lifetime ISA.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Payments you make into your pension won’t be accessible until the minimum pension age (currently 55, increasing to age 57 from 2028). Tax treatment depends on individual circumstances and may be subject to change in the future.
For Business Saver: T&Cs apply. Max one withdrawal per day.