I’m not sure. I think that something like £1 - £2 I’d probably give it a go. But I’d probably be much more interested in this as part of a broader proposition like a bundled bank account.
I’m pausing slightly because I’d need to think through what I’d use it for, then actually test it a bit in real life, discovering other potential uses.
So far, the benefit for me would be:
- To move a percentage of income to another account
- Move a set amount of money to my offset savings (a classic building society, so while it does online banking it doesn’t have open banking APIs or anything)
- Move money to my Monzo Pots when I receive an incoming payment with a specific reference.
- If Flow would be capable, to string a number of different transactions together (simple example: when I want to take money out of my travel pot I have to do two Monzo transactions) - perhaps on the basis of just tapping a button on demand in the Flow app
- Automatically moving contents of Pots to external savings accounts at the end of the month (or preferably my payment cycle).
- Automatically assigning notes to Monzo transactions, standing orders, direct debits etc.
If Flow could do all of that, I’d almost certainly subscribe for a month or two to test it out.
I suppose my concern is that a lot of that could (or you could argue should) be done by Monzo. I suppose you could see Flow as papering over gaps in banking apps. So what’s the killer difference - or the thing they won’t be able to / want to catch up with?
(I suspect the answer is complex IFTTT type rules or quasi scripting etc, but then the market does become quite niche quite quickly).
But please do find a way through because I’m super keen for this!