Just signed up to a life isa . Just before by 40th. Phew Hopefully it'll be a smart choice, because i haven't saved a penny in my LAST 20 years.... So let's see what the next 20 can bring
Hi Fran, good video. Two questions: 1) If I open a moneybox ISA today 31/03 (which is 5 days before that tax year ends) and deposit £4000, will I get the 25% benefit? 2) Can I open a moneybox LISA account while having a Trading 212 stocks and shares ISA account?
1) Yes, you only get the extra money when you close the account as far as i'm aware, pretty sure that was how it worked when i did mine 2)Yes but make sure you don't got over your 20k total ISA contribution limit, eg if you are putting 4k into your LISA then don't put more than 16k into your S&S ISA
Hi there, thanks for your questions. Here are my answers: 1. Yes, you will be paid the 25% bonus. It’s usually about 4 weeks after you deposit. 2. Yes, you can have one of each type of ISA that you pay into each year.
This video is about the Moneybox lifetime ISA, which you can open with £1. For the Moneybox cash ISA (not the lifetime ISA) you need to deposit £500 to open it.
You can open the Cash ISA with £1 but youll only get the lower interest rate 0.75% so when you reach £500+ thats when you get the higher interest rate plus the added 1% bonus rate on top.
Just signed up to a life isa . Just before by 40th. Phew
Hopefully it'll be a smart choice, because i haven't saved a penny in my LAST 20 years....
So let's see what the next 20 can bring
That’s great, you got it in time!
Things we will never have in the US lol. Neat to learn about though!
The ISA is like a roth IRA I think.
Glad you enjoyed it. Thanks for commenting!
Hi Fran, good video.
Two questions:
1) If I open a moneybox ISA today 31/03 (which is 5 days before that tax year ends) and deposit £4000, will I get the 25% benefit?
2) Can I open a moneybox LISA account while having a Trading 212 stocks and shares ISA account?
1) Yes, you only get the extra money when you close the account as far as i'm aware, pretty sure that was how it worked when i did mine
2)Yes but make sure you don't got over your 20k total ISA contribution limit, eg if you are putting 4k into your LISA then don't put more than 16k into your S&S ISA
Hi there, thanks for your questions. Here are my answers:
1. Yes, you will be paid the 25% bonus. It’s usually about 4 weeks after you deposit.
2. Yes, you can have one of each type of ISA that you pay into each year.
Thanks both
Is the 25% bonus a one off bonus or can you get up to £1000 bonus per year?
You can get up to £1000 every year!
You can get up to £1000 every year!
@@FranMariee ahh that’s amazing! I’m thank you for getting back to me!
Your voice is very calming
Thank you
Could I open a S&S Lifetime ISA and a normal S&S ISA and invest in both?
Yes, you can have both a lifetime ISA (S&S) and a S&S ISA and invest in both. You can save and invest up to £20,000 a year across all your ISAs.
My moneybox is saying I need to open the cash ISA with £500. But you are saying £1. Can anyone tell me how to start with £1?
This video is about the Moneybox lifetime ISA, which you can open with £1. For the Moneybox cash ISA (not the lifetime ISA) you need to deposit £500 to open it.
You can open the Cash ISA with £1 but youll only get the lower interest rate 0.75% so when you reach £500+ thats when you get the higher interest rate plus the added 1% bonus rate on top.
0.45% monthly fee is criminal!!
This is actually the average fee amongst the top investing platforms.
@@FranMariee maybe, but if I invest my money myself then the fees are no way near.
Hi fran do you by any chance know how to transfer moneybox cash isa to another provider? I heard moneybox don't have sort code or account number
Yes, when transferring from Moneybox you just need to give your new provider your national insurance number instead of an account number.