I’ve just had an idea, that lines up with Monzo’s moral obligation to have a positive impact within communities.
I purpose that a new Pot feature should be added to Monzo, where you can round up transactions to the nearest pound and donate the change to a charity of choice.
This will be a great feature to have, as the majority of people use bank cards for everyday transactions and hardly anyone has the loose change anymore, to put money into the old charity pots at your local corner shop.
People have changed their behaviour and relationship with money, due to the functionality that technology provides. That’s why this pot feature would be great for Monzo, technology shouldn’t be a barrier that stops people from being generous. Regardless to how people pay for their transactions, they should all have the choices at the end of transaction where the user can keep the change or donate it.
I’ve thought of few ways that this feature can be added:
A feature were the user can set how many pence out of each rounded up transactions goes to charity. (I’d like to help but I can’t give it all away, I need to save)
A dedicate pot to your selected charity and all rounded up transactions will be donated.
Set a rule where 1 in every 3 rounded up transactions would go to a selected charity.
This is a long shot but I would love to see this feature or something similar. In my opinion being responsible with your money is not all about saving all the time, I hope you all feel the same.