Moneybox

Moneybox is an investment app that aims to make building your long term wealth easy and simple.

It pioneered “round-ups” in the UK, which allows you to round-up your spending to the nearest £ and put the difference in an investment account automatically.

The app offers stocks and shares ISAs, stocks and shares Lifetime ISAs, pensions, junior ISAs and CRUCIALLY for us, a socially responsible option, run by Old Mutual Wealth.

Moneybox also now offers cash accounts, including a cash Lifetime ISA offering 1.25 per cent and a 95-day notice account offering 1.45 per cent AER.

The investment and savings options can all be started with a minimum of £1.

About the Moneybox socially responsible investment option

The Old Mutual World ESG Index Fund tracks the MSCI World ESG Leaders Index and holds shares in global companies which are selected based on MSCI’s leading ESG approach.

This is what’s known as a “passive index tracker fund” and is rather like watching the bootleg version of a band – pleasing but ultimately unfulfilling.

In other words the option doesn’t actively invest in the best companies saving the planet and its people, it invests in a range of companies that score more highly than other comparable companies across a range of Environmental, Social and Governance factors.

This option, while far from perfect, is better than nothing.

It means that the fund still invests in things like fossil fuels and motor vehicles, but invests in the companies in these sectors that are ‘best in class’ and making the most improvements.

Moneybox Products