Not sure if anyone has picked up on this yet but may be useful for those using MoneyBox.
I’ve noticed that because the Coin Jar “transactions” show in the main feed they are being treated as such by MoneyBox. Not so bad if you are on a savings push, however, this is a roundup of a roundup!!
As they take their money in one hit (not useful unless it could come from the Coin Jar Direct) it could come as a bit of a surprise for someone not keeping an eye out! (me!).
I think the initial implementation is phenomenal as it requires so little configuration and just works and requires only a little more tweaking. Whatever Monzo do I would urge them to stick to KISS princple. Complex configuration options will make it less appealing to me.
My main tweaks would be :
Vary rounding amount by selecting desired savings level - slow - round to nearest 10p, regular - round to nearest 50p, aggressive - round to nearest £1
Reduce spam by displaying coin jar amount as a subtext of the originating transaction.
Reverse coin jar payments for refunds.
These have been mentioned in many previous posts so I hope to see some of them implemented.
Great idea and works nicely. Agree though that it doesn’t need a seperate line everytime really. Also amusing that since activating it, about 90% of the things i’ve bought have been in whole £ increments somehow
Finally scrolled past the coffee chat…
Coin Jar is a great step towards the ‘rules’ settings for Pots (I hope) that was shown in initial designs.
I’m in two minds about the separate entry for the pot amounts, I kinda get why they are, as it’s a transfer so it should be clear like any transaction, but get given it does it for every transaction it does feel verbose and makes your timeline feel less clear.
As suggested above, it probably could be tidied away like the exchange rate on international transactions.
Regardless, you should be able to tap into a pot to see it’s own transactions;
money in
money out
interest made from marketplace partner savings account
As otherwise it literally just feels like a piggy bank, with no recollection of how you got to saving all that money.
I love coin jar! It’s what I’ve been waiting for for ages! Two wish list changes though for the full launch;
Toggle option to hide coin jar items from spending feed. This option would just round up the daily total. So it helps with the ‘out of sight out of mind’ protection of the ‘secret saving’.
Time lock option. The ability to put a timer on a pot that means you can’t touch that pot until the timer counts down. Dial in a date, get a few “are you sure check points” to avoid ‘accidental’ lockouts.
Pair these two together and your micro transaction saving product becomes a secret saving device that, if remembered, is protected from 1am raids on a Friday night or moments of weakness.
Sorry if this has already been answered but it appears change from monzo.me transactions doesn’t appear in the coin jar has anybody else seen this?
I also agree with the transaction feed becoming very messy with all the transfers to the coin jar a solution like @alexnicol is a good compromise or maybe a smaller icon of the coin jar say on the bottom right corner of the transaction logo indicating a dual transaction.
This is all good and well, but we need a shared account! Why is this not at the top of the new features list? It’s literally the only thing stopping me from switching completely from my traditional bank… too much of a pain to have 2 accounts. I assume it’s keeping many other couples from switching as well!
Completely agree. I just came on here to see if anyone else agreed. 1 feed item for each saving clogs up the screen. Really needs to be 1 per day please Monzo!
Are you able to have the option… for example I don’t want to do this right now but may change my mind in the near future. I was a little confused as to will this automatically happen or will it only happen if I create a coin jar pot?