March has been a difficult month for all of us. We know that the current situation is having an impact on everyone and with many of us now following government guidelines to work from home or self-isolate, life is certainly different. Whilst our team are settling into working from home and we continue to operate as close to normal, it’s amazing to see the Moneybox community feeling stronger than ever. 🤗 We want to thank you so much for your support during this time. 

We also understand that for Moneybox investors, this may have been an uneasy few weeks. Riding the waves of the stock market can be hard, however, we hope you found our blog post on what coronavirus means for your investments helpful and put this market downturn into a historical context. 

Many of you have asked for more content relating to the current market conditions and although we can’t offer financial advice, we hear you. 🙏 We’ll be continuing to post relevant articles in the Discover tab of the app and on our website to help you further understand the market. Our latest article focuses on the power of ‘pound cost averaging’ and how setting your investments to autopilot could help in a market downturn. Check it out!  

Here are the top three questions you’ve been asking over the past few weeks with our answers: 

  1. Can I change my regular savings amount? Yes, you can amend your savings at any time. Head to the Settings tab in the app to amend your Weekly deposit, Boosts (Payday & Super round ups) and Round ups.  
  2. Can I switch my investment allocations? Yes, you can change your investment allocations at any time. Our three starting options (Cautious, Balanced and Adventurous) can be switched by going in-app to Settings > Allocations > Change Allocation > View Starting Options > select any starting option (you can also customise each allocation). Once selected, there are two options: changing allocations for ‘future’ or ‘all’ investments. Remember, if you change your allocation for all investments, you will not be able to withdraw from your investment products until the rebalance is completed.
  3. Is Moneybox going to offer more cash accounts? We are currently exploring ways with which we can introduce more cash saving accounts onto the Moneybox platform. More on this below!

Whilst the Moneybox team continue to adhere to official guidelines of working from home, as a digital company we remain online and are still here to help with any queries you have. 

 

Updates 📝

400,000 Moneybox users

Despite the difficult events that have taken place in March, we were thrilled to see the Moneybox community reach 400,000 users. 😄 With more users, we have the opportunity to explore new products and accounts to introduce to our service. You may be excited to hear that we’ve begun looking into new cash savings accounts that will help with your shorter term goals and rainy day savings. We’ll be sure to keep you updated!

Personal Pension launch

This month we were so excited to officially launch the Moneybox Personal Pension to all new and existing users. 🎉 You can now open a pension with Moneybox, consolidate old pots and contribute towards your financial future, all from your mobile phone (and sofa!). A staggering 100,000 people signed up to our waiting list since it opened in April 2019, demonstrating a real appetite for change in the industry. It has been fantastic to work with our beta customers to create a product that suits your needs and is fit for modern life. You can even round up your everyday purchases directly into your Moneybox Personal Pension using round ups. Head in-app to open a pension or find out more details on our website

 

Tax Year end – 2019/20

Our final collection for the 2019/20 tax year was collected from your green circle on Wednesday April 1 and will be debited from your bank account Monday April 6. All new ISA and Lifetime ISA accounts opened will be for the 2020/21 tax year. Our first collection for the new tax year will take place on Wednesday 8th April.

 

7 tips on staying productive and motivated at home

As many of us are now spending more time at home, we’ve rounded up 7 top tips to help you stay productive and motivated. From free exercise apps to taking care of your finances, these tips will hopefully make you feel more effective with your time and energised throughout the day! 💪

In the news 🗞

  • ‘Moneybox personal pension includes its trademark ‘round-up spend’ feature’ – Your Money covers the launch of our newest service.  
  • The Times share their top tips on how to get the most out of your money, featuring Moneybox investor, Rhys! 
  • Moneybox users can earn up to £600 paid into their Moneybox account when buying a mortgage through Habito and Moneybox+. Check out our partnership announcement in Altfi

 

Behind the scenes 🎬  

At Moneybox, we’re constantly interviewing to find new talent to join our rapidly growing team (and yes, we’re still recruiting despite working from home!). Interviewing can be a challenging experience but doing it well can lead to landing that dream job. We caught up with our Talent Partner, Nefeli (who’s interviewed thousands of candidates) to share her top interview tips, helping you to perfect your skills! 

 

 

We offer cash savings products and long term investment products. All investing should be regarded as longer term (at least 5 years). The value of your investments can go up and down, and you may get back less than you invest.