Moneybox - Save and Invest

User Experience Report

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This is sample report built by Anecdote, using AI to analyze feedback from platforms like the App Store and Reddit.

Highlights trends and insights

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Moneybox - Save and Invest

Top Insights This Week

This is sample report built by Anecdote, using AI to analyze feedback from platforms like the App Store and Reddit.
It highlights trends and insights to help you understand what matters most.
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All Insights

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TOP INSIGHTS

A weekly roundup of Moneybox - Save and Invest's key feedback

1

Complex UI Navigation

Many users find the app's user interface cluttered and difficult to navigate, with important account information buried under promotional content. Approximately 15% of users express frustration with the app's layout, making it challenging to manage their accounts efficiently.

The app's interface is so cluttered with promotions that I struggle to find my account details.

2

High Fees

A significant number of users are dissatisfied with the fees charged by Moneybox, which they find higher compared to competitors. Around 10% of users mention that the fees are excessive, especially when their investments are not performing well.

Moneybox fees are too high, even when my investments are at a loss, making it less competitive than other platforms.

3

Poor Customer Support

Users frequently report difficulties in reaching customer support, with some mentioning long wait times and reliance on automated responses. Approximately 12% of users express dissatisfaction with the lack of human interaction and delayed responses when seeking assistance.

It's nearly impossible to get help from a real person, and the automated responses are unhelpful.

4

Slow Transaction Processing

Several users experience delays in transaction processing, particularly when transferring funds or making deposits. About 8% of users report that transactions take longer than expected, causing inconvenience and frustration.

It takes over a week to process a simple deposit, which is unnecessarily slow.

COMPETITORS ANALYSIS

Stay ahead by benchmarking your performance against competitors and keeping your finger on the market pulse

#1 USERS CHOICE

Moneybox - Save and Invest
Revolut receives high praise for its ease of use, excellent customer service, and low fees for international transactions. Users appreciate its convenience for travel and currency exchange, though some report issues with app functionality and customer support.

#2 RUNNER UP

Moneybox - Save and Invest
Moneybox is appreciated for its user-friendly interface and diverse investment options, including ISAs and pensions. However, some users express concerns about the app's performance and customer service, indicating room for improvement.

#3 Straggler

Nutmeg
Nutmeg is well-regarded for its straightforward investment options and transparency in fees. Users appreciate the ease of setting up accounts and the range of portfolios available, though some mention occasional issues with customer support responsiveness.
Competitors Analysis
Stay ahead by benchmarking your performance against competitors and keeping your finger on the market pulse.
Moneybox - Save and Invest
#1 Users Choice
Revolut receives high praise for its ease of use, excellent customer service, and low fees for international transactions. Users appreciate its convenience for travel and currency exchange, though some report issues with app functionality and customer support.
Moneybox - Save and Invest
#2 Runner-up
Moneybox is appreciated for its user-friendly interface and diverse investment options, including ISAs and pensions. However, some users express concerns about the app's performance and customer service, indicating room for improvement.
Nutmeg
#3 Straggler
Nutmeg is well-regarded for its straightforward investment options and transparency in fees. Users appreciate the ease of setting up accounts and the range of portfolios available, though some mention occasional issues with customer support responsiveness.

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Nuggets

Major Highlights of the Week

Account Navigation Issues
Users find it difficult to locate their accounts within the app due to excessive upsells and marketing clutter, which hinders account management. This poor UI prioritization leads to user frustration and potential churn.
I struggle to find my accounts because they're buried under marketing gimmicks.
Real-Time Market Data
The app's lack of real-time market data for investments is a significant drawback for users who want to actively manage their portfolios. This limitation positions the app as more suitable for amateur investors rather than serious traders.
The investing side lacks real-time market data, making it unsuitable for active trading.
Fee Transparency Concerns
Users are dissatisfied with the perceived high fees, which are not clearly communicated, especially when compared to competitors like Monzo and Trading 212. This lack of transparency can lead to a negative perception of value.
Moneybox fees are too high and not clearly explained, unlike Monzo or Trading 212.
Address Input Limitations
The app's address input field does not accommodate special characters, causing issues for users with non-standard addresses. This oversight in form design can lead to user frustration and hinder account setup.
My flat number includes a '/', but the app only allows numbers, complicating address entry.
Customer Support Accessibility
Users express frustration over the inability to easily contact a real human for support, especially for account closure or urgent issues. This lack of accessible customer service can severely impact user satisfaction and retention.
It's impossible to reach a real person for help, especially when trying to close an account.
LISA Limitations
The Lifetime ISA's £450,000 limit is seen as unrealistic given the rising housing costs in major UK cities, making it less attractive for potential homebuyers. This limitation could deter new customers seeking viable home-buying solutions.
A £450,000 LISA limit is unrealistic for buying a home in London.
Nuggets

Major Highlights of the Week

Everything you need to know about user experience
Account Navigation Issues
Users find it difficult to locate their accounts within the app due to excessive upsells and marketing clutter, which hinders account management. This poor UI prioritization leads to user frustration and potential churn.
Real-Time Market Data
The app's lack of real-time market data for investments is a significant drawback for users who want to actively manage their portfolios. This limitation positions the app as more suitable for amateur investors rather than serious traders.
Fee Transparency Concerns
Users are dissatisfied with the perceived high fees, which are not clearly communicated, especially when compared to competitors like Monzo and Trading 212. This lack of transparency can lead to a negative perception of value.
Address Input Limitations
The app's address input field does not accommodate special characters, causing issues for users with non-standard addresses. This oversight in form design can lead to user frustration and hinder account setup.
Customer Support Accessibility
Users express frustration over the inability to easily contact a real human for support, especially for account closure or urgent issues. This lack of accessible customer service can severely impact user satisfaction and retention.
LISA Limitations
The Lifetime ISA's £450,000 limit is seen as unrealistic given the rising housing costs in major UK cities, making it less attractive for potential homebuyers. This limitation could deter new customers seeking viable home-buying solutions.

Quotes of the week

Hear from some of the most impactful users to drive changes

The app itself and the financial instruments/rates offered are great, but the constant and incessant cross-selling of different products is extremely annoying. I don’t want to be reminded 14 times a day that I have a £20k ISA allowance, I already know that. This totally ruins the UX.
Lewisd17
I have now been with Moneybox since day 1. Was extremely happy to find an easy app to help me save. Been amazing to watch it grow and allow its customers in very simple ways to invest and watch savings grow.
Veneno675432
So hard to find where my accounts are in the app - they’re the least prominent thing in the UI, buried under a mess of upsells and marketing gimmicks which you can’t dismiss. I just want to manage my account.
10CGW

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The quotes of the week

Hear from some of the most impactful users to drive changes
The app itself and the financial instruments/rates offered are great, but the constant and incessant cross-selling of different products is extremely annoying. I don’t want to be reminded 14 times a day that I have a £20k ISA allowance, I already know that. This totally ruins the UX.
Candice Wu
App Store
I have now been with Moneybox since day 1. Was extremely happy to find an easy app to help me save. Been amazing to watch it grow and allow its customers in very simple ways to invest and watch savings grow.
Kelly Williams
Google Play
So hard to find where my accounts are in the app - they’re the least prominent thing in the UI, buried under a mess of upsells and marketing gimmicks which you can’t dismiss. I just want to manage my account.
Koray Okumus
Google Play

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