How many savings pots can we have?

Help
1

Trying to use Monzo for all my savings if possible. On Zopa I have a few things I would like to keep separated named, eg ‘holiday’ ‘house deposit’ etc. Does Monzo now only allow one savings pot? It’s large sums of money so don’t plan using a regular pot with zero interest.

I just tried to open one with another provider Paragon web through it all then at the end it said ‘failed’.

Is the 20 limit of Monzo spots spread across the regular and savings pots and regardless of whether it’s Monzo or Paragon etc providing them? If so it would be cool to notify it would fail to open a new pot at the start of the process not the end. If that is the reason for it failing?

Thanks.

1 Like
2

You can currently have one Monzo savings pot and one safety net. It’s looking like there may be an option to open a second pot soon.

This does not impact third party pots which you should be able to open still.

2 Likes
3

thanks, it won’t let me open a third party pot, maybe I have too many regular pots to open anymore. would be nice if we could open more as I could move more of my savings over now the interest rate is equally as good as Zopa.