Welcome to my MoneyBox App Review
If you have ever looked or been interested in investing then the app I will be talking about today might be something for you.
They combine saving money with investing all into one. Not only that they rock with a simple concept.
This is something I have come across recently on the adverts so thought I would look more into them.
So if you are looking to find out what they are about and whether they are worth your time then you are in the right place.
MoneyBox is an app created by Digital Moneybox Limited that lets you invest all your spare change from purchases at put it towards investing.
So just like the advert lets say you buy an item for 80p, you can round it up to £1 and invest that extra 20p towards investing.
You can use your saved change to invest in stocks and shares with your favourite companies, some of the featured ones include the likes of Netflix and Facebook.
This app has been highly regarded in the business world since its launch in 2016 and has many positive reviews from members. They were created by two people called Ben Stanway and Charlie Mortimer
Getting started with MoneyBox is very easy to do and you can start by installing the app from the app store. You can get it on either Google Play or IOS.
Once you have installed you will then need to create an account, you will need your email address for this step.
You will then need to verify the payment method you will want to deposit and withdraw money to.
After a credit card/bank account has been added to your account you are left with choosing which account you would like your invested money to go towards.
You have the choice between an ISA or a GSA which is a General Savings Account.
The final step requires you to choose how you would like your money invested which I will talk about now.
As I was getting into there are a few different options in how you wan't your money to be invested,
You have the choice between Cautious which is the safest option.
Balanced which like it suggests is the middle option and is a little riskier then Cautious
Then to round it off you have the Adventurous approach which is the riskiest of the options and gives more potential but obviously compared to the other two comes with more risk.
In order to use the investment service that MoneyBox provides it does come with fee's. You have the choice between paying a subscription fee or a percentage of your yearly investments.
For the subscription fee, you are required to pay just for the first 3 months at £1 each. You can opt for for yearly fee which comes in at 0.45% of your investments per year.
When it comes to investment apps and anything around banking you are going to need top notch security to make sure your money is safe.
So its good to see that the app does use a 256-bit encryption which means all the data and transactions are encrypted, so they can't be tracked or stolen.
What I like about this app is the low risk factor that comes with it. You are putting a few pennies aside from your purchases and then using that to invest.
Its a great way to look at it and go about it. unlike other investment opportunities where you might be depositing a few hundred quid just to start.
For an app that offers a great service you would expect to be charged a fair bit to use it, However in this case the fee's are very low.
If for e.g if you put in £1000 and you got £50 in interest you would still be making £49.
Not only that if you choose the monthly option you will only ever spend £3
If there is one thing aspect you may or not like depending on where your from then that is they are only eligible for UK residents factor.
At the moment and since the app was brought out only people from the UK can use it however I will update this review if anything changes.
To wrap up this review its clear that no only do they run on legit premises but are also very safe to get involved with.
MoneyBox presents a good opportunity for newbies or anyone not looking to invest lots of money get started in investing.
Feel free to check them out and do come back to leave your comments and experiences
MoneyBox in my opinion is a solid way to invest your money but I would say there is only so much you can get and make.
It's like a bank and the interest system, you can put money into it but it doesn't mean you are going to get floods of money back. In fact Bank interest terms are so low you won't get that much at all.
Instead I would like to suggest a method of making money I have had success with over the past years that will work for you.
It consists of you building your own website and then recommending different products on it. Its a good business model to get started with if you are new to making money online.
Now I won't go into too much detail here as I have made a full detailed review here. So do check it out if it sounds like something you would be interested in.
What do you think to MoneyBox? Have any questions or opinions you would like to throw my way?
Let me know by leaving a comment down below 🙂
Hi my names Josh, the owner of Best Survey Sites For Making Money. My aim is to show people legit ways to make an income online while also reviewing scams that are only out to take your money.
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