Closing Savings Pots

[Dan_R (Dan)]

Hey!

So I have a few savings pots with Monzo earning different interest… however I need to move some pots around to make my money work better… my question is as follows:

If I withdraw money from a Savings Pot with Investec - the account will be closed… but then Create a new pot, will I have the options to create the same Investec account again (if it’s still available)…

I guess what I am asking is, is there a limit to the amount of Interest Earning Pots I can make?

Thanks
Dan

[Ordog]

There is no limit on the amount of savings pots you can make, the limit is the total amount of money spread across them. Or the overall pot limit which I think is 20?

I closed my Investec pot yesterday. There isn’t an option to open a new one with the same provider but why would you? Investec pots only made 1% and the Shawbrook ones are higher

[Dan_R (Dan)]

Thanks

I was just using Investec as an example

[Ordog]

The only downside I found was that you lose your pot history. Not a big deal but I was told that they can provide you with a statement if you need one.