There is various information about paying from pots, but it is difficult to work out what is the current situation. It seems that the way to pay from pots is to have a direct debit. However, this is fairly useless for me.
For instance I have a pot for car expenses and if I pay a garage bill I want to pay from the car pot using the debit card. There is something about using virtual cards on monzo premium, but this seems massively convoluted. This is besides having to pay extra for something I use infrequently.
I don’t see why monzo make such a fuss made about pots when they are pretty well useless if you can’t easily pay directly from them. I don’t need pots for direct debit monthly payments, e.g. water, as they are predictable and I don’t need a pot for them. Am I missing something obvious here?
Thanks for the reply, that is helpful. The problems I have with these options are:
Costs £60 pa which I guess is an option, but seems a lot to do something basic. I don’t need other monzo plus functions and most doesn’t work with joint accounts anyway.
This skews the total expenditure per month figures. I want to show a fixed amount per month for, say, car expenses and pay from the pot. Once you transfer money across this goes down as an expense from the pot so defeats the object of the pot.
If you move to America, pots will work the way you want them to. In the US, Monzo just let you assign merchants to pots, so there’s none of that micro managing withdrawals are trying to get by with the convoluted virtual cards and their limitations.