Is Moneybox FSCS protected? Where your money is actually held

Moneybox is not a bank. Each savings product places your money with named banks: the 32 and 95 Day Notice accounts with Investec Bank plc, the Simple Saver, 90 Day Notice and 1 Year Fixed Rate across small panels led by Lloyds Bank plc, and the Cash ISA and Cash Lifetime ISA as pooled client money across 13 banks. If a bank fails, the FSCS protects up to £120,000 per person at that bank, counted together with any money you hold there yourself. Moneybox decides how panel money is split, so you cannot see how much sits at each bank.

Moneybox is an FCA-authorised investment firm that holds client money, not a bank: customers contract with Digital Moneybox Limited (FCA firm reference 712935). Every statement below is taken from the source named beneath it, last checked 22 October 2026. It is information, not advice.

Who holds the money, product by product

Who Moneybox is

Moneybox is a trademark of Digital Moneybox Limited (company 09597755), authorised and regulated by the FCA with firm reference 712935, and 792703 for payment services. Moneybox states: "Moneybox is authorised by the Financial Conduct Authority (FCA) to hold client money but we're not a bank." No evidence was found that it holds or has applied for a banking licence.

How each product is protected

Moneybox holds savers' cash in three ways: single-bank savings products held on bare trust at one named bank; panel products held on bare trust across several banks with Moneybox choosing the split; and ISA and investment cash held as pooled FCA client money across a wider panel. Its terms state that choosing a bank for its trust savings products "is not a regulated investment service so the Savings Products are not regulated by the FCA."

Investments are covered by the FSCS investment scheme up to £85,000 per person per failed firm, which does not cover falls in value. Money moving through GoCardless is not FSCS-protected but is safeguarded, and US shares held by the broker DriveWealth are outside the FSCS.

If Moneybox or a partner bank fails

If Moneybox fails, customers' money is kept separate from Moneybox's own and pooled with other customers', so a claim would be for a proportionate share of the pooled money; investment losses from a shortfall can be claimed from the FSCS up to £85,000. Moneybox's documents do not say whether that investment cover would apply to a shortfall in its trust savings products.

If a partner bank fails, customers can claim up to £120,000 per person per bank for any shortfall; Moneybox makes the FSCS claim on their behalf, which may take up to three months. Its terms say it is not responsible for a bank's default, only for its choice and monitoring of the bank.

Does it share your FSCS limit?

Yes. Moneybox states: "the £120,000 limit applies in aggregate to the total amount of money held by you at any one bank, whether it is deposited by Moneybox, by other providers, or by you directly with the bank." Bank of Scotland plc's limit is shared with Halifax, so Simple Saver or 90 Day Notice money placed there counts together with any Halifax savings.

Moneybox can put all of a customer's Simple Saver or 90 Day Notice money with one panel bank, so a saver cannot know in advance how much of their balance overlaps with money they hold directly at Lloyds, Bank of Scotland or Santander.

Size

Moneybox had 1.71 million customers with a funded account and £19.0 billion of assets under administration at 31 December 2025, and says it passed 1.9 million customers and £23 billion in 2026. It made a statutory profit before tax of £15.6 million in the seven months to December 2025, after changing its year end, and £14.9 million in calendar 2025 on its own basis.

Regulatory record since 2020

No FCA fine, final notice, enforcement action or published skilled-person review against Digital Moneybox Limited was found; the FCA site's only "moneybox" enforcement result concerns a different firm trading as "247 Moneybox". Its 2025 accounts note a segregated buffer held against potential client-money shortfalls, which had not materialised.

The fine print

Moneybox's terms state: "we are not a bank and your money is held in Trust Bank Accounts so we aren't ultimately responsible for keeping it safe." For ISA and investment cash, interest due but not yet paid may not be FSCS-protected, and Moneybox keeps the difference between what the banks pay and the rate it pays.

Moneybox's current FSCS page still lists Clydesdale Bank plc among the Cash ISA banks; Clydesdale Bank's business transferred to Nationwide on 2 April 2026, so money there counts toward Nationwide's limit, shared with Virgin Money. An undated Moneybox help article names Aldermore for a 1 Year Fixed Rate ISA that the current FSCS page does not list.

Frequently asked questions

Is Moneybox FSCS protected?

Moneybox is not a bank. Each savings product places your money with named banks: the 32 and 95 Day Notice accounts with Investec Bank plc, the Simple Saver, 90 Day Notice and 1 Year Fixed Rate across small panels led by Lloyds Bank plc, and the Cash ISA and Cash Lifetime ISA as pooled client money across 13 banks. If a bank fails, the FSCS protects up to £120,000 per person at that bank, counted together with any money you hold there yourself. Moneybox decides how panel money is split, so you cannot see how much sits at each bank.

Which bank holds my Moneybox money?

32 Day Notice and 95 Day Notice: Investec Bank plc (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Simple Saver (bare trust across a panel): Lloyds Bank plc (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Simple Saver (bare trust across a panel): Bank of Scotland plc (shares its limit with Halifax) (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Simple Saver (bare trust across a panel): Santander Financial Services plc (Santander International) (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). 90 Day Notice (bare trust across a panel): Lloyds Bank plc (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). 90 Day Notice (bare trust across a panel): Bank of Scotland plc (shares its limit with Halifax) (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). 90 Day Notice (bare trust across a panel): Qatar National Bank (Q.P.S.C.) (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). 1 Year Fixed Rate (bare trust across a panel): Lloyds Bank plc (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). 1 Year Fixed Rate (bare trust across a panel): Emirates NBD Bank (P.J.S.C) (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Cash ISA, Open Access Cash ISA, Cash Lifetime ISA and uninvested cash: Pooled client money across 13 banks: Clydesdale Bank plc (now part of Nationwide), HSBC Bank plc, Santander UK plc, Barclays Bank plc, First Abu Dhabi Bank, Qatar National Bank, National Westminster Bank plc, Bank of Scotland plc, Lloyds Bank plc, The Bank of New York Mellon (London Branch), National Bank of Kuwait (International) plc, Bank of Montreal and Starling Bank Limited (in-flight funds only) (client money the firm holds on trust at banks: FSCS deposit cover up to £120,000 per person per bank if a bank fails, and investment cover up to £85,000 for any shortfall if the firm fails).

What happens if Moneybox goes bust?

If Moneybox fails, customers' money is kept separate from Moneybox's own and pooled with other customers', so a claim would be for a proportionate share of the pooled money; investment losses from a shortfall can be claimed from the FSCS up to £85,000. Moneybox's documents do not say whether that investment cover would apply to a shortfall in its trust savings products.

Does Moneybox share the FSCS limit with my other savings?

Yes. Moneybox states: "the £120,000 limit applies in aggregate to the total amount of money held by you at any one bank, whether it is deposited by Moneybox, by other providers, or by you directly with the bank." Bank of Scotland plc's limit is shared with Halifax, so Simple Saver or 90 Day Notice money placed there counts together with any Halifax savings.

More: other savings apps and platforms, how FSCS protection works and which banks share a banking licence.