I’ve been a member of LLoyds and Im making the move to Monzo, and it’s been brilliant from what I’ve seen of my account so far! Very much looking forward to using it more and more…
However, I think a major benefit would be to have added functionality to ‘Pots’ which I will outline below, the screenshot is from Lloyds and what they call their ‘Goal Money Manager’ which is the equivalent to Monzo’s ‘Pots’.
The ‘Pots’ would benefit greatly from the extra functionality below:
‘Achieve by’ date and ‘Pot Target’, from these two functions alone you would be able to display to the user how much they need to save each month to be on target, and if they continue at the rate the are putting into the ‘Pot’ then what date the target will actually be met by.
Another major function for ‘Pots’ would be to have standing orders go into each of them at date and amount chosen by the user. This would ensure that the ‘Pots’ don’t have to manually be added to, which can be a burden, especially when you have lots of ‘Pots’ for lots of different things people are trying to save for.
Take a look at the screenshot below as an example from what LLoyds do, and with these added functions, ‘Pots’ can be a whole lot more useful!