Changing pot types after they are set up

Feedback & Ideas
1

Hey folks,

I was wondering if you can turn a regular pot into one of Monzos saving pots without creating a new pot.

For example, I have a regular pot with X amount in it. At the moment the money is not being used. So I’m think of turning it into a savings pot to collect a bit of interest. But I don’t seem to be able to change the type of savings pot it is without creating a new pot. Then moving the money into it.

I was just wondering if this is possible. Or is this an idea that could be explored?

Thanks

2

Is it really that much work to move the money out and into a savings pot?

3

No it’s not.

It was just a question/thought, that’s all.

2 Likes
4

The other downside to this is that you lose your pot history too.

It’s not currently possible and this has been suggested before. You can vote for it here:

3 Likes
5

Voted.

Thanks for sending that over @Ordog

1 Like
6

That only works if there is a pot history to be lost! (iOS doesn’t have one)

1 Like
7

Ahhh ok my bad. Don’t want to start the parity flame war again :speak_no_evil:

1 Like
8

It’d be really nice if it were possible to change pot type.

Say I have a pot which is a savings pot with an interest rate of 1.0%, but then a new provider comes along offering a 1.5%, it’d be nice to be able to ‘upgrade’ to the higher interest rate. Currently you have to close the pot, wait for the money to come through, open a new pot, transfer the money. This could be made much easier.

9

Whilst it probably requires a fair bit of coding - it’s a new agreement, or savings pots tied to some agreement number we can’t see, what tokens are passed to the provider etc etc - from a user point of view this feels like a no brainer.

10

This thread has more votes, so a good idea to vote there too: Option to convert a regular pot to savings pot

I’d ask someone to merge them, but I think the votes are lost when that happens?