✅ Bills pots: support for (card) Subscriptions / recurring card transaction payments to come out of pots (Monzo Plus Virtual Card)

The IFTTT integration allows that now. It’s a different proposition to Bills Pots, though, so probably has a different thread somewhere.

Extremely surprised this hasnt more votes to be honest

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I’ve set up the ifttt option and it works pretty well. Would be even better to have an integrated functionality though. One of the things I love about the Monzo app is how much visibility you have of what’s going on with your money and the scheduled moves you have in place.

It’s even more of a tease that I can see recurring card payments in the “Pay from this pot” set up screen but can’t actually turn them on.

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Maybe, although I can’t see any functional difference/benefit they could give us by doing that. As a result, it feels like work for no benefit where they could put the time into making something new and shiny :smile:

It might keep the Left to Spend figure accurate.

Currently I’ve got the money to pay card subscriptions in a Bills Pot but summary doesn’t know that IFTTT is going to withdraw the money from it once the payments have been made, therefore the Left to Spend figure in Summary is off by the total value of my card subscriptions.

I’ve somewhat countered this by un-marking these subscriptions as recurring but that then leads to these amounts coming out of my category budgets rather than sitting nicely in the Committed Spending part of Summary.

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Ideally, I suppose, but we’re back to the problem they have now in that there’s no notice of forthcoming card payments so we’d be relying on guesswork as to what may happen to the balance in the future.

Coming up with a clever solution for that is what this all hinges on.

There’s notice from me, when I mark the payment as recurring. I’m only talking about the left to spend figure here, not the actual process involved with how the money is taken.

It’s not really guesswork if I’ve marked a card payment as recurring and that the same amount should be deducted from the Bills Pot?
It’s no different to how before Bills Pots existed, Summary predicted the left to spend when dealing with a direct debit that was subject to a variable amount.

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Fair point!

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Must be a hassle to manage a separate account. Don’t you need a unique phone number and email for that?

Haven’t used IFTTT iOS app for a while and wow how it’s changed #soconfused

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You got the link for that IFTTT Applet?

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My other bank account is the one I’ve had (with a different bank) since I was 17, it’s not with Monzo.

This makes an awful lot of sense.

We’ve recently gone full Monzo, and migrated everything into a Bills pot (and a bunch of misceallaneous budget pots).

It’s really weird to be able to set Direct Debits and Standing Orders to be paid from a specific pot, but not the recurring card payments we have for iCloud storage, Google One (cloud storage), Netflix, Spotify, Phone line rental, GiffGaff, Dollar Shave Club, all to be ‘paid from’ that pot.

I understand that the amount can vary and there’s no notice given. Just let me pick a vendor, and say that card payments to them should always be ‘matched’ by withdrawing from my chosen pot once you see the card payment go out. Could also have a checkbox for ‘the amount varies’ to improve heuristics, because for something like iCloud storage the vendor would stay the same as for random app purchases, but the amount for iCloud storage stays the same amount and around the same date.

I shouldn’t have to rely on IFTTT to go full Monzo. But off I go to deal with whatever they think is good UI this week :slight_smile:

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Like, this is pretty grim:

Please bear in mind that IFTTT will be able to…

  • See your pots, and their balances
  • See receipts you attach to your transactions
  • Change the category of your transactions
  • See your account balance
  • See your list of accounts
  • See your transactions
  • Put feed items into your Monzo feed
  • See your name
  • Freeze and unfreeze your card
  • Move money into and out of pots
  • Add notes to your transactions

Is that what you received when you connected Monzo to IFTTT?

I don’t recall half of those things being present when I did. I’m secretly hoping that it has been updated to include all of this as per the announcement prior to the pandemic. :crossed_fingers:

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Yep, that’s what it said.

And then I hit a bug and couldn’t choose from a pot :frowning:

Any update on Bill pots

This is the final piece in the money management puzzle. Would like to see this implemented. Mark is recurring, select pot. Simple. If the pot doesn’t have enough money in it take what is needed from your main balance. Doesn’t matter if the amount varies in the same way it doesn’t matter to your main account. You either have the money or you don’t.

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Bumping this feature.

For me, it’s not about knowing a dd is coming, I just want to be able to put my subscriptions/direct debit aside into a pot and if something like Spotify comes out of my account, I want Monzo to be clever enough to go and get the £14.99 from the pot I specified and move it across.

I don’t see why this has to be overthought. Paying from the pot for DD’s is good but useless without support for pretty much any type of subscription which charges a monthly recurring fee.

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I tweeted :monzo: about this yesterday, and they said:

“Unfortunately we don’t have any updates to share on this at the mo…”

I do hope it’s on the 2021 radar! :gear: