3% and withdraw money instantly? Is this a direct Monzo savings product!?
Hope the FPS stack is ready for the flow of cash back from Kroo
Monzo - Nice saving rate you’ve got there kroo, be a real shame if something happened to it…
Hopefully @Monzo2018 can shed some light on the next step after selecting that option
I am on the latest App Store available version, trying the test flight version now
I’m on that one… no fancy shmancy high interest accounts.
More info from @bukisule over here:
Oaknorth now in at 3% too, will be interesting to see what Shawbrook come up with 3.01 no doubt
Extra £2 more a year for £10,000 held
Unless Monzo decide to do something, it’ll be back to Chip I go, as loyal as I am, I will go wherever the rate is best
Amazing if rates could be 3.4% as well but Ofc Monzo has to think about whether or not it’s suitable for them
It’s a very different decision for a bank with a range of considerations, and a Robo investor service in a massively competitive market.
For a bank, 3% instant access is good business, at a decent margin
I’m trying to work out what interest rate the easy access pots would have to offer to convince me to bother moving the money from the 3% instant access pot.
I wouldn’t move it for 3.1% and I would move it for a 3.5%. So I know it’s a rate somewhere inbetween. I know every .1% makes a difference, but it’s such a faff shifting the money around all the time.
3.05% now from Paragon.
Monzo savings just went to 3.2%
Glad to see it’s automatic
I saw this thread bumped and fully expected it to be someone asking when it would go up, I didn’t expect them to increase the rate within an hour of the announcement.
Good work, Monzo.
Also now showing within the app (including the safety net pots)
Was there an announcement? I see the different rate if I go looking for it but haven’t had an email / splash in app.
(More importantly: well done the 'zo).
I got it in a email