You are correct but there is more to it. Yes it rounds up your purchases like you said, however this needs to be done by you in the App so you don’t have to round it up.I've heard about Money Box
From my high level understanding its an app that is linked to your Credit/Debit card that rounds up any payments to the nearest pound and banks the different.
E.g. a £3.50 coffee would cost £4.00 and the delta 50p gets saved.
On the face of it, it looks a great idea to encourage saving, but is there a catch to it (i.e. monthly fee)?
I round up everything and set up a small weekly deposit of £2 (can be more or less) and then I have a “Pay Day Boost” which is £200 a month Direct Debit. Again this can be more or less depending on your circumstances. On average around £250 a month I save
You can choose what type of investor you want to be. Cautious, Balanced or Adventurous.
There are no catches, read reviews online I think trust pilot has 5*. There is a small fee of around £1 a month which is taken out of your investment pot
I am crap with saving money, being 32 now and just moved into my forever family home, now is the time really.
I hope this helps