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Friday, September 20, 2019

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Moneybox and Investec team up to launch 95-day notice account

Theo Osborn | 09:00 Wednesday 4th September 2019

Moneybox has partnered with Investec to launch a 95-day notice account offering a 1.65% AER variable rate.

The account is powered by Investec and will be available to Moneybox customers with savings between £1–£85,000.

This is Moneybox’s first traditional savings account and follows its partnership with OakNorth to launch a cash lifetime Isa with a rate of 1.4%.

Ben Stanway, co-founder of Moneybox, said: “The low interest rates being offered by high street banks on easy-access accounts make it almost impossible for people to grow their hard-earned money.

“We believe people deserve better and we’re excited to launch our 95-day notice account, offering customers a much higher rate from as little as £1.

“Moneybox customers asked for savings accounts to help them reach their short-term saving goals.

“It’s great to be working with Investec on the first of a range of accounts we plan to launch over the coming months.”

Customers can sign up to the account within minutes, and round up everyday purchases to the nearest pound and save the spare change.

David Hunt, head of specialist cash products at Investec, added: “By working with Moneybox to deliver this offering to [its] growing user base, we are providing another opportunity for individuals to save for their future, while earning a very competitive interest rate.

“We have worked closely with Moneybox to create a tailored account to meet the needs of [its] customers, delivering a seamless user experience and working alongside [its] investment account.

“This further cements our commitment to supplying innovative solutions in the exciting space of savings apps and platforms.”

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