Bills Pot - Top up to an amount

So this is something that Starling have introduced recently, and it seems to be one of the only things where Starling beats monzo….

**They essentially have system that calculates what the total of your monthly bills is, and then alters the transfer into the bills pot to mirror that amount **

It would be great if we could have a payment into bills pots each month that tops it up to a certain amount, which varies depending on how much is due to go out.

For example:
Let’s say I have £10 left over in my bills pot as the previous month was a bit cheaper than usual.

My bills normally cost £200 a month. So, the “top-up” payment would be £190.

Let’s say, next month my phone bill is £20 more expensive. The scheduled payment adjusts itself to whatever the total amount of my bills should be. In this case £220.

Or vice Versa if the scheduled payments are less.

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There’s a button within the bill pots that does this already… It’s not automated, no, but it’ll let you know how much you need to add, and then clicking it, will trigger the pot transfer. :slight_smile:

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The only issue I can see with this is that if you pay by direct debit, your bank account will only know its going to be £20 more 3 working days before it charges you, so likely would be out of sync with any automatic top up. Interesting idea though.

This only works with regular ongoing amounts, not fluctuating costs.

I agree the automated aspect would be good as part of salary sorter maybe, as the information is readily available.

But with direct debits banks only know 3 days prior, but can assume from last month, it’s the same the next month, hence the prediction.