How do round ups work?

Round ups can be a great way to set aside money little and often, and can be used in conjunction with weekly, monthly, and one-off deposits, or alone. By connecting a bank account or credit card to the Moneybox app, you can view your everyday transactions and choose to ’round up’ the digital spare change to the nearest £1.

Once you’ve connected a bank account, your transactions will be rounded up automatically two days after they appear in the app in the Home tab. If you’d prefer to choose which transactions to round up, you can turn off automatic round ups in Settings > Round Ups > Automatic Round Ups > Off.

You can then either swipe right on a transaction to round up, or swipe left to dismiss. Or, you can scroll down and tap ’round up all transactions’ to round up all.

You can watch the pennies add up throughout the week and, at around midday on Wednesdays, your savings are collected from your Moneybox, then debited from your bank account via Direct Debit and added to your balance a few days later, usually the next Monday.