Moneybox Lifetime ISA Review & Walkthrough - Pros, Cons, and I share my account with you

An in-depth look at the Moneybox Lifetime ISA, reviewing the pros and cons to the account, what I think of the Moneybox App and I share my account with you to show exactly how it works and the features inside.

[webbmoney]

Great video on LISA's, I've just opened one with Moneybox. Thanks for the info!

[RCLTalksBikes]

Great video, very detailed and just what I needed. Very informative, many thanks.

[musicmaster]

Very helpful - I've just downloaded the app. Thanks Katherine! :-)

[anamarques]

Thank you for this video. this is exactly what I was looking for. Hopefully, I will be able to get this tax year bonus still.

[Andrew_BIake]

Just wondering but, with the LISA with you have to use it with a mortgage (I'm planning on using it in conjunction with the First Home Scheme all going well), do you have to take out a mortgage with the bank in which you took the LISA out with? I.e. do I have to get a mortgage with Moneybox or can I take out the LISA with moneybox but take out a Mortgage with another bank, say Barclays, Halifax etc...?

[soydancross]

wow thanks for this vid, honestly really helpful!

[laylah]

Hello Katherine, is the 3.2% rate for the cash Lifetime ISA? If so is that how much interest you will be earning on each years savings. Can you please explain

[katherinemary]

*CORRECTION*

Regarding opening types of ISA in every tax year, I incorrectly thought a lifetime ISA counted as either your cash or stocks and shares isa but actually it doesn’t, and is its own type.
See my ISA allowance video for full info!

There still seems to be confusion over the bonus. You get 25% back on whatever you deposit ONCE. You then make interest monthly on your savings+bonus at whatever the current interest rate is, mine is showing 0.5%.

[samuelday]

Thanks for the video, I opened a help to buy isa before the cut off. Do I have to withdraw the help to buy and put it into the LISA as one lump sum or can I fill in a form with money box so it can be transferred? I understand that’s more of a complex question if you don’t know the answer

[wikeylorc]

Hi! I have a few questions. You mentioned that the Cash Lifetime ISA doesn’t involve any fees, unlike the Stocks and Shares one. I’m confused what it means by interest though? Is that interest being taken out of my account or put into my account? Will the ISA ever take any money from me other than the money I put in? Also, the tax year is ending in April but it is currently March 2nd so if I put money in £4000 tomorrow, will I still get the bonus of £1000 and once the new tax year begins, then put in another £4000 and also get a bonus for that? Hopefully that makes sense! Sorry if its a stupid question I’m really new to this haha!

[onebicycle]

Hi. Very interesting video, I like it. I do have a concern though about moneybox lifetime ISA, what wil happen to your money at the end of tax year and at the beginning of a new tax year? Is the interest good in a year?

[obaidk]

hi I have just opened an account and its january. Should i wait till april to start the weekly deposits as anything i put in before april wont count towards the next tax year? or does the year start counting the day you open the account ?

[mk_gti_]

Hi, can you have LISA if you already have a help to buy ISA?

[venus]

What if I put around £200 but gradually build it upto 4k is that OK? And would you say its better than a s&p500? Thanks

[dere]

Thanks for the video and great content.
If I have some money in an ISA bank account and have money in Moneybox Lifetime ISA, would you say to remove the money from the bank ISA and transfer over to Moneybox?
Thanks again.

[phil]

Good review of the app. However the first sentence you say is wrong. You can have a normal stocks and shares isa and a life time stocks and shares isa. The 2 are classed as separate.

[Qwerts]

Hi Katherine, I currently have a Stock & Shares ISA that I opened this year. Would I be able to open a Cash LISA in the same financial year or would I have to wait? Cheers.

[dinahnagetey]

Hi please I'm trying to open a LISA but I don't see the option to provide my NI number.
At what point do they request this?

[emiichan]

Thanks for the video. Question regarding the investment gains. Say you reach £4000 for the tax year, does your account still grow and gain investments as it goes up?

Second question, if I end up not gaining the whole £1000 bonus for the tax year, and I open a new LISA, with my old LISA still have bonuses in place? And again will investment gains still grow over the months/years? Thank you.

[edavies]

Hi, I opened one of these LISA accounts recently and today it says £26 was collected at midday though I didn't let it do this, do you know why? How I can undo this?