In this brief guide we will discuss the Moneybox fees.
On Money boz fees, moneybox states on its website:
“What are the Moneybox fees for investment accounts?
For investment accounts (ISA, GIA, JISA, and Stocks & Shares LISA), we charge the following fees:
Fixed subscription fee:
£1 per month, free for the first three months and charged per Moneybox account. This means even if you have multiple accounts with us, your subscription fee will remain at £1.
This fee covers all transactions and all investing costs. Most users invest every week into your chosen range of funds, meaning that you can make 156 investments per year at just 7p per trade! This fee is charged at the end of each month, by selling down your largest holding.
0.45% of the value of your investments per year. This fee accrues daily but is charged monthly by selling down your largest holding.
Note: This charge is not reflected in the daily valuations posted within the Messages section of the app. It is only reflected on the daily valuation at the end of that month, when you will be charged.
Fund provider fees:
In addition, you will also pay the fund management charges levied directly by the fund providers. These fees range from 0.12% to 0.30% per year and are incorporated into the daily fund valuation.
If you withdraw all your money or close your account we calculate the Fixed subscription fee and the Platform fee on a daily basis for that month and deduct these charges before you receive the money.”
In this brief guide, we discussed the moneybox fees. If you have any questions or comments please let us know.
If you need financial advice and you live in the UK then you could contact the Money Advice service over the phone or via chat for impartial advice.
You can also contact the debt charity “Step Change” if you are in debt and need help.