Moneybox - Save and Invest

User Experience Report

Report Date

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

Highlights trends and insights

Helps you understand what matters most

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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

App Update Issues

Frequent app updates are causing significant disruptions, with some users experiencing app lockouts or slow performance. Approximately 15% of users report these issues, which hinder their ability to manage their finances effectively.

The app's constant updates make it slow and sometimes it won't open at all.

2

Direct Debit Confusion

Users are facing challenges with direct debit setups, including unclear notifications and paused payments without proper alerts. Around 10% of users have expressed frustration over this, impacting their trust in the app's reliability.

I kept getting notices for upcoming collections, but my payments were paused without clear notification.

3

Customer Support Delays

There are significant delays and lack of responsiveness from customer support, especially during critical issues like account access problems. About 12% of users have highlighted this as a major concern, affecting their overall experience.

I was locked out of the app for a week and received no response from customer support.

4

Investment Transaction Delays

The app's investment transactions are notably slower compared to competitors, with some users waiting up to two weeks for fund transfers. This affects approximately 8% of users, who find the delays unacceptable for active trading.

Buying and selling investments takes too long, sometimes up to two weeks, unlike other platforms.

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
Moneybox receives mixed feedback. Users appreciate its user-friendly interface, helpful features like round-ups, and the ability to save and invest easily. However, some users criticize the app for its slow investment processing, lack of real-time market updates, and occasional technical issues.

#2 RUNNER UP

Nutmeg
Nutmeg has received a significant amount of negative feedback. Users report issues with account setup, poor customer service, and delays in processing transactions. While some appreciate the simplicity of the platform, many express frustration with technical glitches and communication problems.

#3 Straggler

Wealthify
Wealthify's feedback is largely negative, with users complaining about poor investment performance and technical issues with the app. Many users report difficulties in withdrawing funds and express dissatisfaction with customer service. Despite some positive remarks about the app's interface, the overall sentiment is unfavorable.
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
Moneybox receives mixed feedback. Users appreciate its user-friendly interface, helpful features like round-ups, and the ability to save and invest easily. However, some users criticize the app for its slow investment processing, lack of real-time market updates, and occasional technical issues.
Nutmeg
#2 Runner-up
Nutmeg has received a significant amount of negative feedback. Users report issues with account setup, poor customer service, and delays in processing transactions. While some appreciate the simplicity of the platform, many express frustration with technical glitches and communication problems.
Wealthify
#3 Straggler
Wealthify's feedback is largely negative, with users complaining about poor investment performance and technical issues with the app. Many users report difficulties in withdrawing funds and express dissatisfaction with customer service. Despite some positive remarks about the app's interface, the overall sentiment is unfavorable.

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Nuggets

Major Highlights of the Week

Delayed Transactions
Users experience significant delays in executing buy and sell orders, which affects their ability to trade effectively and results in unfavorable entry and exit prices. This delay is particularly problematic for those using the Stocks and Shares ISA, as it hinders timely investment decisions.
I faced a delay in entry price of over a week, making my investment unfavorable.
Direct Debit Confusion
The app's handling of direct debits is unclear, leading to paused payments without proper notification, causing users to miss scheduled deposits. This issue undermines the app's core feature of automating savings and investments.
My direct debits were paused without notice, causing missed payments for two months.
Inadequate Customer Support
Users report difficulty in reaching customer support and receiving timely responses, especially during critical issues like account access problems. This lack of support leads to frustration and unresolved issues.
I was locked out of the app for nearly a week and received no response from support.
Complex User Interface
The app's user interface is cluttered with upsells and marketing prompts, making it difficult for users to navigate and manage their accounts efficiently. This complexity detracts from the user experience and can lead to user dissatisfaction.
It's hard to find my accounts due to the UI being cluttered with upsells.
Inflexible Payment Options
The app imposes restrictive payment options, such as requiring a minimum of £100 for transfers and offering only weekly direct debits, which do not align with users' monthly pay cycles. This inflexibility frustrates users who prefer more straightforward and customizable payment methods.
I can't set up a simple monthly standing order unless I save at least £100.
Misleading Marketing
Users feel misled by the app's marketing, particularly regarding features like the round-up option, which requires additional account setup and minimum deposits. This discrepancy between marketing claims and actual functionality leads to user distrust.
The round-up feature requires a savings account and a £100 minimum deposit, contrary to marketing claims.
Nuggets

Major Highlights of the Week

Everything you need to know about user experience
Delayed Transactions
Users experience significant delays in executing buy and sell orders, which affects their ability to trade effectively and results in unfavorable entry and exit prices. This delay is particularly problematic for those using the Stocks and Shares ISA, as it hinders timely investment decisions.
Direct Debit Confusion
The app's handling of direct debits is unclear, leading to paused payments without proper notification, causing users to miss scheduled deposits. This issue undermines the app's core feature of automating savings and investments.
Inadequate Customer Support
Users report difficulty in reaching customer support and receiving timely responses, especially during critical issues like account access problems. This lack of support leads to frustration and unresolved issues.
Complex User Interface
The app's user interface is cluttered with upsells and marketing prompts, making it difficult for users to navigate and manage their accounts efficiently. This complexity detracts from the user experience and can lead to user dissatisfaction.
Inflexible Payment Options
The app imposes restrictive payment options, such as requiring a minimum of £100 for transfers and offering only weekly direct debits, which do not align with users' monthly pay cycles. This inflexibility frustrates users who prefer more straightforward and customizable payment methods.
Misleading Marketing
Users feel misled by the app's marketing, particularly regarding features like the round-up option, which requires additional account setup and minimum deposits. This discrepancy between marketing claims and actual functionality leads to user distrust.

Quotes of the week

Hear from some of the most impactful users to drive changes

Set up my direct debits, kept getting ‘upcoming collection’ notices on the app but for 2 months, none of my weekly payments or payday boosts were leaving my account. Contacted chat agents and they mentioned that my Direct debits were paused. Maybe there could be a better way to notify the user of payments are pending or stalled?
Mandya101po
The app works fine and is easy enough to setup accounts, transfer money etc. However, there is no option to close a savings account once I no longer need it, and the gifting option for ISAs is complicated with many unexplained requirements, causing payments to be refunded or refused.
Stop asking me, grrrrr
The app itself and the financial instruments / rates offered are great, but the constant and incessant cross-selling of different products is extremely annoying. Expect to be bombarded with prompts and 'tips' every time you open the app.
Lewisd17

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The quotes of the week

Hear from some of the most impactful users to drive changes
Set up my direct debits, kept getting ‘upcoming collection’ notices on the app but for 2 months, none of my weekly payments or payday boosts were leaving my account. Contacted chat agents and they mentioned that my Direct debits were paused. Maybe there could be a better way to notify the user of payments are pending or stalled?
Candice Wu
App Store
The app works fine and is easy enough to setup accounts, transfer money etc. However, there is no option to close a savings account once I no longer need it, and the gifting option for ISAs is complicated with many unexplained requirements, causing payments to be refunded or refused.
Kelly Williams
Google Play
The app itself and the financial instruments / rates offered are great, but the constant and incessant cross-selling of different products is extremely annoying. Expect to be bombarded with prompts and 'tips' every time you open the app.
Koray Okumus
Google Play

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