Like others say, the logical way around it is move the money from the pot, after the subscription has been taken.
The downside here is that you need a buffer in your main account (or overdraft, etc) - but if it’s the netflix type subscriptions, on any one day that could be a small buffer.
I’d be happy with that approach, but I get why it’s not as straigh forward.
(For what it’s worth, you can mimic this behaviour with IFTTT)
Edit - what this behaviour would mean though is any card transaction could be filled from a pot - which would be ace.
At the moment I’m just using a manually set up scheduled withdrawal for my subscriptions. I only have a couple, and they’re always the same amount and same day so it’s fine for me. Doesn’t bother me that the withdrawal is early morning and the transaction might not be until later.
Hey - I’ve set up a bunch of pots for specific bills and successfully set up some bills to be paid from them, however there’s a couple of payments that won’t allow me to select them. They include Spotify and Netflix, and all have the type ‘Subscription’ rather than ‘Direct Debit’, even though they appear in my Scheduled Payments list.
Thanks - do you know if support for card subscriptions is coming any time soon?
It looks like it works with PayPal, however is there a way to differentiate between PayPal payments to different vendors, eg Spotify & Netflix, and make them come from different pots?
I wouldn’t imagine so. I don’t use the pot though and the community is an inventive lot, so if it’s possible someone will share the info.
Subscriptions is an entirety different game to DD’s and SO’s. I would imagine it’s somehow pegged to merchant data in order to be accurate, if it was easy it would be done!
I can confirm that we aren’t presently working on this at this time, however it is something that we’d love to do in the future. As of right now, it’d be a significant amount of work to build this because we do not get any kind of advance notice that the payment is coming, unlike with DDs and Standing Orders. I guess it would be possible for us to effectively build out a whitelist of common merchants, like Netflix and Spotify, and base it on when we believe the payment will come out, but this would effectively be a workaround that wouldn’t account for various things - we wouldn’t know if you changed your subscription tier, for example.
The PayPal workaround works because PayPal will take a monthly Direct Debit. However, this amount will be for everything you owe to PayPal in that time-frame within one transaction, and I do not believe it is possible to get multiple monthly DD’s to PayPal that you could match to each transaction.
This is pretty much what I do, I pay Netflix etc from PayPal and they come out over the month, from a pot. However I only know what they are because of the amounts, so unless you pay everything from one pot, the only other way would be to setup different pot transferred based on the time in the month, if they’re all different.
Not sure if it’s been mentioned elsewhere but you can set up your own IFTTT applet to move money from one pot to your main when it’s from a certain sender. While I agree this should be an official feature, I think this is a decent workaround for subscriptions like Netflix etc without using PayPal.
That’s a good workaround for people using Personal Accounts. I used to use a PA and also the same IFTTT applet to do the same thing.
It sadly doesn’t work for people who solely use a Joint Account though - no IFTTT integration with JA’s yet. My AutomatedFinancial set-up could be amazing if JA’s were supported…
The issue is that when you’re asked to enter your Monzo email address at the IFTTT connection stage, IFTTT connects to your Monzo (personal) account. The connection stage at Monzo’s end should have a check to see if there is more than one account listed against the email address and give the chance to choose which one to connect IFTTT to.
I had some success by setting up separate Standing Orders to be sent to PayPal for each subscription rather than having one direct debit where PayPal would “pull” the sum of the subscriptions once a month. I could then allocate these SOs to my Bills Pot.
However I then switched back to using the IFTTT method so that I could have the richer merchant data for each subscription provider.
Would it be possible to identify a pot for a specific vendor? So for example ALL charges from Netflix should always come out of the assigned bills pot regardless of whether it were a direct debit or a card payment. The relationship should be formed around the vendor name.
Personal Accounts. I used to use a PA and also the same IFTTT applet to do the same thing.
