I transferred a sizeable chunk of money into a Moneybox ISA about 8 months ago. The terms stated monthly interest. 3 months ago I wanted to withdraw some of my interest, after I made the withdrawal I noticed the balance of my ISA had reduced. It transpires that I am not able to withdraw the interest unless I withdraw all the funds from the account. I feel Moneybox is withholding my money, is this even legal?
Needless to say I will be transferring my ISA funds asap.
Unhappy customer!
I’d love to know if anyone else has noticed this?
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Moneybox is the saving and investing app that helps you turn your money into something greater.
Millions of us want to achieve more with our money. But whether we’re looking to save for a rainy day, grow our money, buy a home, or even build a retirement fund, we leave it at the bottom of our to-do lists because we're not sure how to get started. This isn’t surprising. We aren’t taught about saving and investing at school, the investment industry was built to serve a minority, and it often feels like banks don’t care about helping us achieve outcomes. To top it off, the financial services industry is fragmented and confusing.
This means that our money often isn’t working hard enough and our goals are much harder to achieve.
So, we made a solution.
We brought saving, investing, home-buying, and retirement services together into one simple app. So people can reach their goals and build wealth with confidence, whatever their starting point.
We want to help people build wealth, but our mission goes beyond that. We believe that building wealth isn’t simply about accumulating more money. It’s about going after the life you want and enjoying it to the fullest, today and tomorrow.
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