Hey all - I’m Rachael, and I look after Marketing in the US. I’ve been working in the UK for the past couple of years, and am excited to be moving over to Monzo US to help our marketing efforts here 
We’re launching interest on all Savings Jars
Listening to our customers is core to Monzo, and we heard you loud and clear. Saving is hard. It’s tough to manage across multiple accounts, fees and jargon make it confusing, and you want a high yield. So you can now have the best of Monzo, with up to 4.25% APY on all your Savings Jars. There’s no extra set-up or changes you need to make. And if you’ve not set up a Saving Jar yet, now is the time to do so. See our help articles here on how to get started with Jars.
If you’re eagle-eyed, you’ll notice that we’ve given Pots a brand new name: Jars. We’ve found that the term ‘Pot’ doesn’t resonate in the same way for our US customers as it does for our UK customers. When speaking to customers, we found that most customers were giving the feature their own names, instead of calling them Pots. We liked one so much that we’ve decided to take it onboard - and now Pots are becoming Jars.
How it works
You can earn up to 4.25% APY across your savings with Monzo
With a qualifying direct deposit*, you are able to earn 4.25% APY, or it is 2.25% APY as standard. It’s 9 times better than standard**. You can easily switch your direct deposit in the app to qualify for the higher rate.
It works across all Savings Jars
Keep your set-up as it is, and earn interest across all your goals. Whether you’re saving for a downpayment, a bike or a phone, you will be able to earn interest on what matters to you.
Start earning interest today
Just head to the app and set up a Jar (or select an existing one) to get started.
Once your Jar is set up, hit the ‘start earning’ button, and agree to the terms and conditions.
For more information and FAQs, visit our savings page.
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Disclosures:
*What counts as “depositing your paycheck”:
- An ACH deposit of $250 or more to your Monzo account
- Deposit is made by your employer or payroll provider for payroll or pension payments
- Or by a government agency for benefit payments (e.g., Social Security)
**The national average interest rate for savings accounts is 0.45% as posted on FDIC.gov, as of July 15 2024.
Monzo’s Savings Jar Annual Percentage Yield (APY) is as of July 29, 2024. The APY may change at any time.