I’ve seen that discussed in another thread, with relation to mortgage evidence (to show you have savings) - even though pots aren’t a separate account, a particular mortgage broker was insisting they needed a statement because of money laundering regulations.
At the moment Monzo will manually generate one for you on request if you need one, and iirc they said they may consider adding it as a feature if there is enough demand. I suspect as time goes on there may well be, almost entirely for mortgage applications.
Not sure if this has been mentioned above, but i made a foreign transaction yesterday which ended up translating into exact pounds, so nothing went into my coin jar. Now, however, the transaction has settled to x.05, but the other .95 has not gone into the coin jar. Is that a bug or expected?
I know it’s been said, but here’s how I think they should clear up the feed:
First, items in the main feed should have the rounded price in black. Then undearneath, show the greyed out change, using the same design as the foreign exchange transactions.
Then, when you click on the pot, you should see the same feed, but the opposite way round. So change in black, full priced grayed out. Plus any one off additions to the pot.
This gives you a seamless main feed. Then a mini feed just to see how things have built over time. Within this mini feed, you could still have the search function, except now it shows how much money you’ve saved by shopping somewhere.
Eg: Search ‘Tesco’ from the main feed, you’ve spent £500 last month. Search Tesco from the mini feed, you’ve saved £32.46 in change last month.
Does the coinjar allow roundups when the figure is precise? E.g. If I buy a coffee for £2 will in round it up to £3? I know moneybox has this feature to allow you to save even more money.
They also allow you to ‘boost’ your coinjar every week / month with a certain amount. Although i imagine this will be dealt with when pots are given rules / standing orders etc…
Just tried this feature out and love it, it has replaced my neglected savings pot. My only comment is to echo those above who say it is far too noisy - give us options in pot settings to silence notifications perhaps, or merge then with the transaction. It clutters up the feed too much with things that should be in the background.
Seeing this makes me think simple rules for pots would be a huge value add - if users could create features like this then share them with others that would be excellent. Rules like always transfer change from some transactions to pot y, or transfer x amount every week to a pot if balance over z.
Eventually I’d like to see the same sort of rules for accepting or denying transactions too - for example let users deny all over £500, or deny over a certain spend on a given day. That would be useful later for children’s accounts.
I have set up a coin jar & so far it is working as you would expect. I had looked at (i think its called) money box to do a similar thing but kept hesitating so to see this come through built in as part of Monzo is superb.
I love the idea of coin jars but having it every time i pay for something in the timeline makes it really hard to have a quick glance at my finances. I’d love an option to disable the coin jar transactions from showing up in the timeline.
The feature is great but as mentioned it’s waaaaay too noisy in the feed. How about a symbol to the left of the original transaction amount with a coin symbol or something similar?
Or perhaps this would be a good time for me to repeat my request for the ability to thread transactions, so we can tap an arrow to expand/contract a list of related transactions? Especially since I suppose from Monzo’s point of view your feed should add up and letting you remove monetary values entirely would throw the ledger off (not internally but even still). Threading seems like an elegant solution, and could also be used to implement the very common request to link incoming monzo.me payments or bank transfers to an outgoing transaction, thereby keeping targets and etc useful, unlike now where anyone who pays bills or buys things on anyone’s behalf essentially has a completely useless tab on their Monzo app.
Could the coin jar be extended to include payment made through monzo me?? Me and my hubs both use mono, so split bills - would be good to round up these payments.
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