Automatic transfer to pots

[Andyr1189 (Andrew Robertson)]

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.

[SC95]

Hey Andrew, Welcome to the community.

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

Pots - Feedback Thread

Please use this thread to share all your feedback on Pots! ️ Vote for the features you’d like us to add here (Original thread: Launching Pots)

Pots, Rules, Direct Debits priority

Good afternoon fellow Monzonauts, TLDR - Rules for pots may take a while, requesting a direct debit pot until rules are ready, hope to get loads of likes for people who want the same, and hopefully it will get prioritised, for a very close to the next best thing option. I know there is a bunch of stuff that we all wish would appear tomorrow. But I would like to bring the attention to one - dedicated direct debits pot. Firstly congratulations and big thanks you for the Monzo team for releasing…

[alexs (Alex Sherwood)]

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

Coin Jar style Personal Finance Management Strategies and Ideas

Ok, lets try something. This is going to be a heavily moderated thread. The rules are. Exactly 1 post per person, No replies, you can edit your post as many times as you like. Each post must contain your dream magic pot in the following style: Coin Jar: When you spend it rounds your transaction up to the nearest pound and saves the pennies to the “Coin Jar” pot. I’ll get started with some other ones i’ve thought of: Save Over X: When you get paid (Positive amount over £100) it saves anythin…

[DaveTMG]

Good responses!

[Andyr1189 (Andrew Robertson)]

Ah perfect thank you! Done!

[Andyr1189 (Andrew Robertson)]

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]

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…

[DaveTMG]

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.

[huntere1983 (Edward Hunter)]

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

[anon44204028]

@huntere1983

capon jar

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