Automatic transfer to pots


(Andrew Robertson) #1

I think it would be good to be able to set a percentage to automatically be transferred to a pot from a certain payment received. For example, every time my work pay me Monzo automatically transfer 15% of that amount into a pot whether this is a monthly, weekly or bonus payment but if I get money from my friends to pay me back for a meal or whatever then it doesn’t apply.


(Sufi) #2

Hey Andrew, Welcome to the community.

Check this thread below, a similar sort of ideas are being discussed here for few weeks :slight_smile: and Link to trello board where Monzo say Rules are Pots are coming in the medium term (6 to 12 month)


(Alex Sherwood) #3

Once you’ve voted on this poll, it might be worth posting your idea too, as the team’s using that topic to gather all the different ideas for Pots :slight_smile:


(knows someone who knows Tom quite well) #4

Good responses!


(Andrew Robertson) #5

Ah perfect thank you! Done!


(Andrew Robertson) #6

Hi, thanks! I had a look but can’t see exactly that idea and I have been trying to find some way to implement that myself for ages! I have posted in an idea thread and I’ll keep my fingers crossed. Thanks for your feedback and the links.


(Mal Hall) #7

This is the exact reason I joined the community - to discuss this topic.

I’m self-employed. I find it incredibly difficult to save for tax and also for a rainy day. Ideally, I’d love for 10% to be transferred via standing order to a separate account every time I get paid. The issue is that I don’t get paid a regular income and these payments are often sporadic. I’d like some way of money being transferred from anything that is paid into my account. Not even sure if that’s possible…


(knows someone who knows Tom quite well) #8

I think it’s very possible, and I’d expect monzo to come up with a good way of setting it up. If IFTTT can simplify general scripting for the masses, then monzo can do it for finance!

The algorithm for the coin jar is pretty straightforward, yours would be too, xfer 10% of all income to a pot.


(Edward Hunter) #9

Make the rule so your capon jar works even if your balance is under £10 as sometime I keep my balance under £10 and I can’t use the coin jar


#10

Interesting to name a jar after a castrated rooster or cockerel!