Automatically distribute % of salary into pots?


(Henry Sanford) #1

Would be good to be able tag a person/company as an employer/salary/income provider. Then be able to set this to automatically distribute into different pots whenever a payment is made (10% into savings, 5% into holiday fund etc.). I know you can already do something similar by setting up regular payments in and out of pots. However this doesn’t account for irregular payment amounts or varying frequency of payment. Good to know everyone’s thoughts.


(James Wheatley) #2

Does anyone know if this can be done via IFTTT?


#3

I love the idea and would be excited to see it!


(Neil) #4

Love the idea to automatically transfer a percentage of your salary into a savings pot each month/week.
Can this be setup in IFTTT maybe ???


(MikeF) #5

IFTTT doesn’t have a trigger for incoming funds at the moment so this shouldn’t be possible.


(Charlie) #6

As Feathers said, there isn’t a trigger for income so the only way you could do it is maybe if you had a direct debit for the same day you get paid or the day after?

You could use the payment at merchant trigger but then, I don’t believe you can make it transfer a percentage of the income into pots. Just a sete amount.

I would like to see some more triggers added to IFTTT. I know they won’t add any more actions probably because anything other than sending to pots would be a big security issue if your IFTTT ever got breached.


(Jack Bailey) #7

Would be really cool and interested to know if this is added


(DT) #8

This would be great! I have a standing order with my other bank that does this for me right into one of my savings accounts. But having this on Monzo and being able to add into savings pot from monthly salary would be excellent.


(Charlie) #9

You can have scheduled transfers into pots of a set amount but you can’t do a percentage.


#10

The sooner we get triggers on IFTTT for incoming payments the better!


(Toby Toller) #11

If you are on a fixed income it can be done via IFTT with a slight workaround - using fixed amounts instead of percentages.

I have created a workflow for each pot, which is based off an email trigger. By setting the email trigger to be the same for each pot ‘eg. #payday’ this will then fire off transfers into each pot - £X to Bills, £Y to Savings, £Z to Holidays etc.

If your income is the same most months of the year, then this works fairly well until income triggers arrive.