Moneybox vs Lightyear
Break out of the box. Lightyear offers smarter investing and low fees.
Open account
When you invest, your capital is at risk.
 | ||
|---|---|---|
Monthly fee | Free | 0.45% per year, plus £1/month |
Cash ISA - AER | 4.50% | 4.45% 5.00% first 12 months only |
Stocks & Shares ISA | ||
ETFs - per order | Free | Free |
US stocks - per order | $1 max 0.1%, min $0.10 | Free |
EU stocks - per order | €1 | |
UK stocks - per order | £1 | |
Currency conversion (FX) | 0.35% | 0.45% |
Pricing data sourced from moneyboxapp.com, and correct as of 16th January 2025. The Moneybox Cash ISA offers an introductory rate of 5.00% AER on balances over £500, which includes a bonus rate of 0.55% for the first 12 months. The interest rate drops to 4.45% AER after the introductory 12 month period, and to 0.75% AER if you make more than 3 withdrawals per year. The Moneybox platform fee of 0.45% per year is charged monthly.
Frequently asked
Moneybox vs Lightyear: FAQs
Is Moneybox safe?
Yes, Moneybox is safe and secure. It is authorised and regulated by the Financial Conduct Authority (FCA) in the UK, and customer funds held in ISAs and investment accounts are protected up to £85,000 under the Financial Services Compensation Scheme (FSCS) in case of provider failure.
Which is cheaper, Moneybox or Lightyear?
Lightyear and Moneybox differ significantly in their pricing structures.
- Moneybox charges a 0.45% annual platform fee on your portfolio value, plus a £1 monthly subscription fee. The platform fee accrues daily and is charged monthly by selling a portion of your largest holding. Trades in US shares are commission-free but incur a 0.45% FX fee for currency conversion.
- Lightyear charges no platform fees or subscription fees. ETF trades are free with zero execution fees, while US stock trades cost 0.1% up to a maximum of $1 per order. UK and EU stock trades are charged at £1/€1 per order, with an FX fee of 0.35%.
For investors looking to minimise fees, Lightyear offers a simpler and more transparent cost structure. For larger portfolios, percentage-based platform fees like those charged by Moneybox can add up quickly. Additionally, Lightyear supports multi-currency accounts in its General Investment Account, allowing you to hold and trade in different currencies without unnecessary conversions, further reducing costs.
Is the Moneybox ISA flexible?
No, the Moneybox Stocks & Shares ISA is not flexible. If you withdraw funds during the tax year, you cannot replace them without affecting your annual ISA allowance. For those who prioritize flexibility, a platform offering a flexible ISA might be a better fit. Additionally, Moneybox does not offer a Cash ISA directly within its app, focusing instead on investment-based ISAs.
Lightyear offers a Stocks & Shares ISA and a Cash ISA, and both are flexible.
Can I transfer stocks from Moneybox to Lightyear?
Yes, you can transfer stocks from Moneybox to Lightyear. Lightyear accepts transfers of whole shares, provided each position is worth at least £/$/€1,000. Only regular, exercised stocks can be transferred; Lightyear does not accept non-qualified stock options (NSOs).
To start a transfer, read our guide to stock transfers.
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Disclaimer
This comparison is for educational purposes only and should in no way be taken as investment advice. When investing, your capital is at risk. Seek guidance if necessary.