As part of our mission to help everyone save and invest for their future, we’ve been looking to expand our range of cash savings accounts and have been working hard to onboard new partner banks. This will give you more control over your savings and the option to choose what works best for your short-term goals. 💰
We’re excited that we have now partnered with Charter Savings Bank to launch a new 45 Day Notice Account. With a shorter notice period you’ll earn 0.45% AER variable on your savings. Make sure you are on the latest app version, then head to your Accounts tab where you can open an account in a few taps.
Planning your next holiday? Perhaps your laptop needs an upgrade? Whatever you’re saving for, don’t leave your money sitting in your everyday account. Did you know most high street banks* are now offering just 0.01% on instant access accounts (that’s a £10k pot earning just £1 after a year). 😱
Here’s a little more info about our 45 Day Notice Account:
- Start with as little as £1 and deposit up to £85,000 in total.
- Interest is earned daily and paid on the 1st day of each month.
- Your savings will sit alongside all your other Moneybox accounts.
- You will be able to make deposits into this account whenever you choose from your linked bank account. It will be collected weekly via direct debit just like all your other Moneybox accounts.
- You’ll need to give us 45 days notice to make a withdrawal. So this isn’t the right account to rely on for unexpected costs, like your boiler breaking. ❄️
In case you missed it, we’re also happy to share that our 95 Day Notice Account is now available to all users. So if you’re wanting to lock away your savings for longer, in return for a good interest rate, this could be the savings account for you.
Keep an eye out for more cash savings options from us soon!
During August we worked on two app releases, with a number of new features going live. Here are two of the highlights…
Within our 7.14 release we were proud to launch our first accessibility enhancements. New users can now enable Voiceover (iOS) or Talkback (Android) to guide them through setting up a new account and logging into the app. This is the first step of many for accessibility as we look to build out this functionality further, making Moneybox avaliable to as many people as possible. 📲
If you have an investment account, you’ll now see more details around your deposits and withdrawals as well as a clearer overview of the status of your investments, thanks to our recent update. 🔎 Just head to your Accounts tab, tap on your investment account and scroll down to your Activity.
Moneybox+ new brands!
We welcomed a number of new brands to Moneybox+ last month, including Wayfair, Topman, B&Q and BrewDog. 🛍️ As well as some great offers, you’ll earn rewards into your Moneybox account whenever you shop through Moneybox+. Head to the Discover tab of the app to check out all of our new brands and offers! (T&Cs apply).
In the news 🗞
- Metro UK shares our tips on how to make sure you keep saving money as we come out of lockdown, featuring Moneybox user Hannah!
- How to take care of your retirement finances in this economic climate via the Independent.
- FinTech Insiders discuss if the fintech industry can fast track our economic recovery. Plus, the panel chat to our co-founder, Ben Stanway, on our record-breaking crowdfund! Your weekend podcast listening is here.
Behind the scenes 🎬
With the completion of our Series C funding round, as well as our crowdfund, we’ve secured over £35 million in additional funding to continue our mission to help everyone save and invest. We were able to double the funding we received in our last round, which was a huge achievement for the team. Go behind the scenes and check out what our latest fundraising means for our team’s future.
*Representative interest rate: Barclays, First Direct, Halifax, HSBC, Lloyds, Nationwide, Natwest, RBS & Santander (September 2020)