Moneybox launches Open Banking integration with Santander

Moneybox launches Open Banking integration with Santander

Santander has become the latest bank to open its API to Moneybox, enabling customers to round up and invest the spare change from their everyday purchases.

Moneybox becomes the first third party provider to offer an integration with Santander, taking advantage of the UK's new Open Banking initiative.

Moneybox lets users save through a combination of card transaction round ups, weekly deposits, payday boosts and one-offs. Customers can choose from three simple starting options - cautious, balanced and adventurous - which invest in tracker funds run by Vanguard, Henderson and BlackRock.

The firm claims to have been used by over 100,000 people since launching two years ago, with the average customers investing £20 a week.

The Santander integration follows similar deals with Monzo and Starling and off the back of a £14 million Series B funding round.

Charlie Mortimer, co-founder, Moneybox, says: "Santander round ups has been our most popular feature request since we launched Moneybox. The integration will enable thousands of new customers to start investing for their future with Moneybox."

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