Ive not had to download a PDF statement since opening my account in 2018, however the time has come & its bad! Like really bad!
Like it says “transfer to pot” but doesnt say what pot, doesnt show payments from pots or real balances etc.
Basically a mortgage advisor looks at it & goes “i have no idea where your money goes”!!
On the app it makes perfect sense but i cant hand that over to the banking folk. Their only advise was to go back to “normal ways of banking”.
Is this on the horizon map? Is there a work around im missing?
I’ve remortgaged twice since being with Monzo (with different advisors) and they’ve never had a problem with pot transfers. I do round ups and have various IFTTT triggers so I can have multiple transfers a day.
If they ask you can explain that it’s movements to a savings account. If they still don’t get it then just find a new advisor because the lenders themselves totally get it.
I like how Starling handles statements. It ignores Spaces (Starling’s version of Pots) completely, and just shows payments out and in (whether paid from the ‘main’ balance or a Bill Space). The balance is just the cumulative balance across all different areas, so your ‘main’ balance in–app may show £100 but the statement will show £2100 if you have £2000 across the Spaces (and of course, this offsets the overdraft to nil charges if you your main balance drops below zero but you still have cash within Spaces).
