If that’s the case that’s fine, I literally don’t care how they manage this. I’m interested out of curiosity more than anything else.
Most likely because they have one third party for this intergration and a pot links to a specific account in your name with the third party.
Maybe they specify one account etc rather than Monzo 
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I’ll stick with how am currently saving at the moment with a separate saving account 1k is a bit too high for me at the moment
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They should let us choose the interest rate
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That will come with time once the marketplace kicks off
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Given that the money would need to be held in an external account, the simplest mapping is 1 account=1 pot. Sure, you could map all of your pots to a savings account behind the scenes but there’s more software to write if you want to do that so this is the quickest road to a launch.
I also doubt that a partner bank would be offering multiple accounts to allow a 1-to-1 pot mapping (not that that would make sense as an approach to me anyway).
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Choose the savings partner = choose the interest rate. Given it sounds like there’s only one partner at the moment, that’s not really an option.
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I want a slider that lets me set my own percent. Promise I won’t abuse this feature.
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I’d guess that this would be because the infrastructure (from a financial standpoint) to suport savings accounts is non-trivial.
In order to pay interest on Savings accounts Monzo have to be able to earn a higher rate of interest themselves, either by lending that money out to customers, or by investing the aggregate savings money themselves.
As (at the moment) they don’t have any credit products (mortgage, Credit card), that rules out option 1 and option 2 would require an investment team to manage.
Much easier to partner with another bank who can provide that kind of facility
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I think that the likely partner bank specifies only one account per person and £1000 minimum.
I just hope that this is a good pilot for the marketplace model - I’d like multiple interest bearing pots, even if it’s a fairly negligible rate.
Hopefully the behind the scenes work will make it super easy to plug in new providers…
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I’d like lots of things but then reality generally gets in my way 
Seriously, I’ve never heard of a bank allowing the customer to set their own interest rate. It’s a lovely idea but don’t hold your breath. (Given such a feature, who would ever have anything less than Max selected anyway?)
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Why dont you just merge with Starling?
If Tom’s views aligned with those of Starling, why would he have left to found Monzo?
Edit: and those views, transparency, etc. are one of Monzo’s strengths.
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Unusual stance to have a minimum saving pot to attract interest! Especially given the target market. Most other banks impose a maximum threshold.
I think the marketplace approach will work for investments with graded risk profile, but literally nobody would opt for a lower interest saving rate given the choice and FSCS guarantees. I can only guess the first savings pot will be an initial offering, and more will follow.
Even then, if Monzo offers less than the competition, or doesn’t provide a USP, it will be massively under utilised.
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I’d be interested to know what sort of savings account this would be. Is it a normal current account? Or is it some sort of ISA? As this obviously impacts what money you can put in any other ISA’s you might have.
As said, it would be good to know what the rate is, but it sounds like thats going to be dictated by the partner bank anyway
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I very much doubt it will be in an ISA wrapper.
Anyone else notice the little history icon in the screengrab 
Could mean theyre actually working on having a feed for pots… would love this
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Just FYI, missing the word be here:
When you earn interest on a savings pot, your money will actually held by our partner bank.
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