Thank you for looking at my profile. I am a Monzo evangelist- I love the product and have invested in the company. But I take that position based on my experience of using Monzo since the prepaid card days and not based on fluff relating to brand positioning
I can envisage a slider where you can choose a fixed or percentage based amount and what pot it gets allocated to, or what gets left for your main balance.
I wonder if this applies to any/all ‘income’ rather than a single salary payment? (Meaning ‘Salary Sorter’ is a cute name for it rather than a literal take on what it does)
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tobyadams
(#fullmonzo joint account since Aug18)
74
*except joint accounts, these will be migrated to TSB
I get my salary through faster payments and so already see messages telling me that I should have my salary paid into my Monzo account despite this already being the case.
If Monzo starts making a big song and dance about early salary through the app then that will be quite irritating. Perhaps a way to mark incoming payments as salary so that they can be predicted and mute such notifications is in order.
It seems Salary Sorter would be the secret feature with a secret clue then, but I hope it’s that plus way more powerful budgeting in general.
If it is that, then it fits with the tagline, “all your money, sorted”, (and a companion to Bill Pots and Pay Early) but I hope that also means you can pay certain merchants/categories from pots, as well as SO, DD’s, etc. But I don’t think simple money sorting is t
That said, personally from how it’s been put in the main post, that phrasing leads me to think “anything you need to do with Money, you can do it in Monzo”. So Credit Cards, ISA management, Stocks and Shares, Pensions, Better Budgeting, Crypto even, etc. The best bank for all your money sounds like more than what we have today, + an auto sort feature.
So maybe it’s the launch of Marketplace, true and proper? I’d like it to be stronger budgeting and Monzo credit cards at least.
In any case, it’s a feature that’s so important to the campaign / Monzo 3.0 it didn’t go to labs, or have a Making Monzo post? To be a salary sorter wouldn’t be that ground breaking but who knows.
Maybe it’s going down the road of AI savings a la Plum and co.
I would love to have some way of triggering something when I’m paid (even if I chose to get paid early). It sounds like in it’s current form, the bills pot won’t work for payments on payday as the scheduled payment into the pot won’t have happened yet.
Will there be a way of switching “Things you can do with Monzo” off? It is great when you are first setting your account up, but I find it annoying now that I don’t use any of the stuff from that screen (I can create pots in the summary screen).
If we’re not getting any warmer, I’m wondering if it could be using open Banking to pull money from another account rather than having to setup a transfer. A way of getting your salary brought into your account…