How can I withdraw from my Moneybox account?

Withdrawals from most of our accounts can be requested directly from the app in Settings > Withdraw.

If you’re withdrawing from a Stocks & Shares ISA or General Investment Account, you’ll first need to sell down your investments to cash, then, once complete, withdraw the proceeds of these sales back to your bank account

If you’re investing in one of our Starting Options and haven’t customised your allocation or invested in ETFs or US stocks, you’ll have the option to sell a proportion of all of your investments in Settings > Withdraw.

If you have customised your investments, you’ll just need to sell down each of your investments individually in Accounts > Select account > Tap on your individual investment(s) > Sell.

Sells typically complete within 3-5 working days, and you’ll receive a confirmation email to let you know when each sale has completed.

Once the sale(s) have completed and the proceeds are in your Available Cash, you can withdraw them to your bank account by going to Settings > Withdraw, and you’ll typically receive your withdrawal the next working day

If you’re not withdrawing for a qualifying property purchase, withdrawals from a LISA can also be requested in Settings > Withdraw >LISA > Another reason.

Please note that the 25% government penalty will apply to your withdrawal(s). When entering the amount you’d like to withdraw, you’ll see an estimate of how much you’d receive after the 25% penalty has been deducted by HMRC.

Once requested, you’ll receive your withdrawn funds within approximately 1-3 working days for Cash LISAs, or within 1-2 weeks for Stocks & Shares LISAs.

You can choose to request a full or partial withdrawal. If requesting a full withdrawal, further deposits into your LISA will be frozen, and any pending deposits or bonuses will be automatically withdrawn and sent to your linked bank account once available.

Withdrawals from a Cash ISA can be requested in Settings > Withdraw > Cash ISA. Once you’ve requested a withdrawal, the funds will be sent to your linked bank account on the next available working day.

It’s worth noting that if your account balance dips below £500, a lower interest rate of 0.75% AER (variable) will apply. You’ll earn the higher rate again once your balance increases to £500 or more.

There’s also no limit to the number of withdrawals you can make, but if you withdraw four or more times within each 12-month period from the date of opening your Cash ISA, you’ll receive the lower rate for the rest of that period. The number of withdrawals you can make without impacting your rate will reset yearly on the date you opened your Cash ISA.

Withdrawals from our easy access savings accounts (Simple Saver and/or Reward Savings Account) are paid out the next available working day, typically by 6pm.

Please note that withdrawals from these accounts are limited to once per calendar month

If you’re withdrawing from one of our Notice Accounts, requesting the withdrawal in the settings menu will begin the notice period.

The amount requested will continue to earn interest during the notice period, and we’ll send your withdrawal back to your Direct Debit linked bank account on the next available working day after the notice period has passed, typically by 6pm.

For our 1 Year Fixed Rate, please note that you can only withdraw money on the access date shown in the app. Further information on withdrawing from a Fixed Rate product can be found here.

Money paid into a Junior ISA is considered a gift, which means it can only be withdrawn by the child after they turn 18 (except in cases of terminal illness or death).

If you’re within 30 days of your first contribution into a Junior ISA, you can cancel the account within the cancellation period by getting in touch with our Support team via the in-app chat, or by emailing support@moneyboxapp.com.

Money held in a Pension can only be accessed from the age of 55 and over. If you are over 55, please reach out to the team and we’ll guide you through the process! We currently offer three options, which our dedicated Pensions team will happily outline in more detail: