An update on getting interest paid on savings

to which my response from memory was it wouldn’t sway my decision to bank with Starling for a couple of pints of beer / year if I kept the full 2 K in the account throughout the year :slight_smile: :slight_smile:

and Im his Uncle not his Brother in law :slight_smile:

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Sooo… it’s got to be this week, right? Next at the latest

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image

Is it gunna be this!? :thinking:

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Hmm…

Positives:

  • No ridiculous and questionable US Citizen ban
  • Allows title to be a free text field

Negatives:

  • Requires ‘gender’ with only ‘male’ and ‘female’ as options

Not quite where someone needs to be to meet Monzo’s level of inclusiveness…

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The timeline here is just massively slipping, from the original target dates.

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Agreed, a statement is surely needed at this point?

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I thought the last update was before the end of this month and that it’s currently in staff testing?

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:100:

That is exactly what the status is :grin:

I’m sure there’s just a contract to work out between monzo and the third party, likely all under NDA :see_no_evil: When it’s ready it’s ready, just like Apple pay :joy:

The monthly journal said savings pots and we’ve still got plenty of October left :yum: Can’t wait to see what they release! It’ll be awesome :money_mouth_face:

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It’s great that they’re looking into this, definitely taking a step in the right direction but it still won’t ever convince me to move my daily savings to Monzo. I have 2 5% accounts that are maxed out.

I mean, 3% over £1000 at the very least and I’ll consider it. But I feel like we’re looking at 0.5% or something around there.

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I think it needs to be acknowledged that unlike most or all other items on the Big List, this one is heavily dependent on a 3rd party and so the speed of execution is unlikely to have been entirely within Monzo’s control.

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It also has to be acknowledged that Monzo knew that before listing it on the Big List.

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Don’t get your hopes up! I imagine it will be around 1% or 1.2%

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any ETA on this much anticipated and valued feature?

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Seen on todays blog post they have a full team responsible for this over the whole next quarter… so doesnt look like anytime soon to be honest.

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I think the blog post was saying that one of the two teams dedicated on improving the Current Accounts is currently working on savings pots with interests.

I can’t remember it saying they’d be doing that for the whole quarter (I really hope they’re not!).

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Even if they are, I don’t think that necessarily means an interest paying savings account is months away. If an account gets introduced tomorrow there’s probably still a lot that can be done to improve the experience; perhaps a dedicated team is needed to work on such tasks. Some possible tasks I can foresee 1. provide support for single savings account spread across multiple pots, 2. integration of more providers.

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