Beanstalk app review

What is Beanstalk?

Beanstalk describes itself as “the family app that invests in your kids”. It basically lets you open a stocks and shares Junior ISA (JISA) for your children, which parents, grandparents and other family members can all make contributions to. The idea is that the wider family clubs together to get a savings pot going for its youngest members.

How does Beanstalk work?

You can use the mobile app to open and manage JISA accounts for any or all of your children (plus there’s an adult stocks and shares ISA option as well should you want to have one for yourself).

The mobile app can be used to check the balance of the JISAs or add some more money in. There’s no minimum amount or regular contribution required, and you can see the accounts that you’ve opened all in one place.

You can also invite other family members or friends to “link” to a specific child’s account, and they can then make their own monetary contributions to that account through the Beanstalk app (which they will have to download). The people gifting money can also send messages through the app – for example, if they’re putting some birthday money into the account as a present.

Another interesting feature of Beanstalk is the ability to “round up” the change from your shopping transactions and add it to the accounts you’ve opened in the app (and you can choose to have it shared out equally across all the accounts).

What are the fees for Beanstalk?

The app is free to download and use, with no fixed monthly or minimum fees. Beanstalk’s annual fee is 0.5% of the account value.

Is Beanstalk safe?

Beanstalk is FCA regulated, and its customers’ money and investments are held under FCA client money and custody rules by its authorised investment platform provider. Investments are covered up to £85,000 under the Financial Services Compensation Scheme.

All investing should be regarded as longer term. The value of your investments can go up and down, and you may get back less than you invest. Past performance is no guarantee of future results. If you’re not sure which investments are right for you, please seek out a financial adviser. Capital at risk.

Thank you for your feedback!

Michelle Stevens

Michelle Stevens is a deputy editor at Finder, specialising in banking, finance and mortgages. She has a journalism degree from the University of Sheffield and has been a journalist for more than 10 years, writing on topics including fintech, payment systems and retail. In her spare time, Michelle likes to travel, explore new foodie experiences and attempt to improve her own culinary skills.

How to buy Veeva Systems shares Contrarian investing

More guides on Finder

How to buy iShares Core MSCI Japan IMI UCITS ETF USD Acc
Ever wondered how to invest in SJPA ETF? Learn more about it now and find out where you can invest in it. Compare ETF brokers to start investing today.
How to buy SPDR FTSE UK All Share UCITS ETF Acc
Ever wondered how to invest in FTAL ETF? Learn more about it now and find out where you can invest in it. Compare ETF brokers to start investing today.
How to buy Franklin FTSE United Kingdom ETF
Ever wondered how to invest in FLGB ETF? Learn more about it now and find out where you can invest in it. Compare ETF brokers to start investing today.
How to buy HSBC FTSE 100 UCITS ETF
Ever wondered how to invest in HUKX ETF? Learn more about it now and find out where you can invest in it. Compare ETF brokers to start investing today.
How to buy Flutter Entertainment shares
Thinking about buying shares in Flutter Entertainment? We explain how to do it and compare a range of providers who will give you access to global markets.
How to buy Dettol shares | 4391p
Sales of Reckitt Bencksier products like Dettol have risen due to coronavirus. Here’s how you can invest in Dettol, by buying Reckitt Benckiser shares.
How to buy AT&T shares
Ever wondered how to buy shares in AT&T? We explain how and compare a range of providers that can give you access to many brands, including AT&T.
How to buy Wincanton shares
Ever wondered how to buy shares in Wincanton? We explain how and compare a range of providers that can give you access to many brands, including Wincanton.
How to buy United Utilities Group shares
Ever wondered how to buy shares in United Utilities? We explain how and compare a range of providers that can give you access to many brands, including United Utilities.
How to buy Relx shares
Find out how to buy shares in RELX, see its share prices over the last three months and check out our must-do checklist if you’re looking to invest.