'Active' pot for card payments


#1

I absolutely love pots and separate my money into distinct budgets i.e. groceries, entertainment, clothes etc. However, to spend from a budget I have to transfer the allocated money from the pot to the ‘available balance’, use the card and then put the remaining back into the pot. This process is not ideal!

Please can we have the option to select a pot as ‘Active’ and for any card payments to then come out of the ‘Active’ pot.

If I go to the supermarket I select groceries as the active pot. If I go to the pub I select entertainment.

This would greatly enhance the functionality and ease of use of pots.


Change which pot your card transactions come from
Tap the pot and spend from there
(Stu Hodgson) #2

I believe POTS is in its infancy and there are good things coming in the future. Things like having DDs and SOs for pots and sharing pots so that others can use it and put money into it.

If and when they get this sorted, I think this would enhance and facilitate almost everyones banking needs. (i.e. no need for joint accounts, separate current accounts etc.)


(Jack Stride) #3

Yes I think this idea deserves more attention :sunglasses: I was thinking of a ‘date night’ pot, allowing you to go out but still be watching what you spend. A night budget almost :monzo:


(Jack Pedleham) #4

It would be a great feature to be able to switch your card spending to a different pot. For example youve saved for a holiday. Whilst youre on holiday you say all my day to day card spending comes out of this ‘holiday’ pot. Or perhaps you have a budget each week of £100. You could automatically put £100 a week into that pot and have all of your card transactions come out of that pot (but not direct debits and standing orders etc).


(Yen Pham) #5

That’s an interesting idea, @Jpjapers! For now, as you know, Pots exists principally to set money aside – the closest you could get to something like this for your day-to-day spending example is to create Pots for your weekly budget and for direct debits/standing orders, and automate them to transfer just enough for both on the required basis. This isn’t exactly the solution you describe, but we’re always working on improving our features, so thanks for sharing what you would find useful – it really helps.

For more information about scheduling automated withdrawals from Pots, check out this blog post by @Jami :slightly_smiling_face:


((╯°□°)╯︵ ┻━┻) #6

Or you could use IFTTT - If card transaction - withdraw from pot.

Downside: You would always need funds in your main account or an overdraft available enough to cover each purchase amount.


#7

This is more or less what bunq offers, except it just has 25 full accounts instead of reinventing the wheel with pots…


((╯°□°)╯︵ ┻━┻) #8

Not sure how this helps?

“Here’s a cool idea you should look at implementing”

“Change banks and move to bunq”


#9

Don’t move to bunq!

Please end the pots madness, then these cool features, as you put it, will be much easier to implement.