Both are FCA regulated and FSCS protected. The real differences are fees, investment range and how each platform feels to use. Here is how they actually stack up.
Fees verified July 2026. Capital at risk. Information, not financial advice.
Beginners building a habit, and first-time buyers using the Lifetime ISA.
Self-directed investors who want low-cost, no-platform-fee share dealing from a major UK bank.
Whichever you pick, the fee gap is small next to knowing whether you are saving enough at all. See if you are on track, free, in about two minutes.
| Fee | Moneybox | Scottish Widows |
|---|---|---|
| Platform fee | £1/month subscription plus 0.45% platform fee | £0 on ISA and Share Dealing Account; SIPP 0.25% capped at £16.50/month |
| Share dealing | US stocks available, 0.45% FX fee | £5.00 per UK trade (£0 commission on international, 1.5% FX applies) |
| Fund dealing | Free (fund fees apply) | £5.00 per trade |
| FX fee | 0.45% on US stocks | 1.5% |
| Stocks & Shares ISA | Subscription plus 0.45% applies | No annual charge |
| SIPP | 0.45% platform fee (0.15% above £100k), no subscription | 0.25% per year, capped at £198 |
| Withdrawals | Free | Free (CHAPS same-day payment £25) |
| Minimum to start | £1 | £50 |
Users love the round-ups, the goal-based design and how painless it makes starting. 93% of customers surveyed in 2026 would recommend it.
The combined £1/month plus 0.45% is repeatedly flagged as expensive for small balances.
Read Moneybox reviews on TrustpilotLong-standing customers value the low flat-fee share dealing and the Lloyds Banking Group backing; recent reviews praise the move into the Scottish Widows app.
Common gripes are the 1.5% FX fee on US shares and the dated feel of parts of the web platform.
Read Scottish Widows reviews on TrustpilotMoneybox is designed for getting started. Round-ups, weekly deposits and simple starter portfolios remove the friction that stops most people investing, and its Lifetime ISA is one of the most popular routes to a first home deposit.
The convenience has a price: £1 a month plus 0.45% is one of the higher fee stacks here once your balance grows. It is a great first platform, and many users graduate to cheaper ones later.
Scottish Widows Share Dealing is the rebranded IWeb platform, now run by Halifax Share Dealing Limited inside Lloyds Banking Group. It charges no annual fee on the ISA or General Investment Account, £5 per UK trade and free regular investing through a Regular Investment Plan. For a buy-and-hold investor making occasional trades, the all-in cost can be very low.
The trade-off is the 1.5% FX charge on US and other non-GBP trades, which adds up quickly for global investors, and no Junior ISA. The SIPP is competitively priced at 0.25% capped at £16.50 a month. Compare it against Trading 212 or Freetrade if FX cost matters, and against AJ Bell or Hargreaves Lansdown if you want funds and full-service support.
A 0.2% fee difference is worth optimising. Knowing whether you are saving enough in the first place is worth far more. Delphina models your pensions, ISAs and investments and tells you where you actually stand.
Free to check. No card required. Takes about two minutes.