I regret going full Monzo

Oh dear.

You just need to wait for committed spending pots then (make sure you vote for it) or open a second account with another bank to get your old setup back :blush:

Or you could use this as an opportunity to rethink how you manage your finances to come to a different solution :sunglasses:

No. It doesn’t do exactly what’s described.

Why? Because not everyone has the same level of self-control as you. Equally it brings a level of anxiety with many ‘what if I’m short’ by a few pounds… which myself and many others do not need.

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Self control must play into it somewhere though. What’s to stop you transferring money from your bills account to your spending account?

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Can you not just open a Starling account for spending and set up a transfer from your Monzo to Starling each month? Then, when Monzo do introduce bills pots (or whatever the solution), you can simply stop using the Starling account. You still get notifications etc, you just don’t get that in Monzo.

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I cover this scenario with the Monzo overdraft. So I put my bills in a pot and when they debit initially they use the overdraft and I then transfer the money over to cover. If I notice the transaction pending I send it then.

What would be good is IFTTT being updated to account for any transactions rather than just card payments. As then you can mark all your bills as ‘bills’ and then IFTTT to pull from the bills pot and debits tagged as ‘bills’.

To be honest I’m surprised this hasn’t been done already as an interim to a committed spending pot. :man_shrugging:t2:

Ugh.

Nothing. You are factually correct.

This is more an emotional/habit tool than anything for me. As the OP has mentioned, this way the bill amounts go ‘away to the place where the bills come from’ and I know that touching that at all will be ‘bad’. Having it all sitting in the same account (Pots or not) where it’s within the same ‘view of my money’ adds to the temptation.

Anyway, I’m glad self control works for you. It doesn’t for many which is why money can be such a touchy subject.

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I’m very wary of arguments like this because you don’t know the circumstances behind why this may not work for someone (but in this case the OP has explained why).

You might as well question why Monzo have a gambling block, when actually ‘it requires a level of self control’ to solve that problem instead. (Not that I’m suggesting you are saying or would say that, but to show an analagous situation)

I think I’m particularly leery of such arguments at the moment because of the similar problems I’m having on another forum at the moment, where the software has ‘Free’ in the name but the default way of using it carries a charge. The number of people who staunchly defend the charge and say that I should be using my own ‘self control’ to avoid accidentally paying it is crazy.

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Sorry - appreciate I’m probably coming across in a judgmental way but that isn’t my intention. You can see from my previous posts - when I banked with Natwest I’d rarely have a clue what my balance was and whether I’d have the money to meet my Direct Debits. Since Summary came along, I completely ignore the main account balance altogether and only look at the left to spend figure. With the new design, I’d genuinely appreciate an option to hide my account balance as it really is that irrelevant to me.

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We know that separation of spending/non-spending money is something people want.

And, it’s something we’re actively exploring :blush:

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Fair enough. I guess as @HoldenCarver suggests, what works for you may not ever work for others because you don’t know their circumstance (not YOU, I’m generalising).

No harm no foul, I agree there are options within Monzo that would work for some people, just they don’t work for me (which isn’t Monzo’s fault!).

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At the end of the day we’re all in different financial positions and manage our money differently. If there is enough demand for some functionality and Monzo are actively helping people to manage there money in a better way (even if it’s something you won’t use) then it’s surely a positive all round. Ensuring Monzo becomes the bank that just works for everyone.

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Really?

Committed Pots are on hold last I heard, Acc/Sort code for Pots also a no go (you’d run out?), second accounts are not on a roadmap…

Or are they? Again, transparency in many places but hints like this are not helping.

What does ‘actively exploring’ mean anyway? I’m actively exploring my lunch options right now…

(not having a go but vagueness is frustrating).

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You should work in marketing but yes, exactly this

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Oh absolutely - I’d never be actively against features being introduced. If Committed Pots (or similar) were introduced I’d likely use them for that extra level of security!

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Been discussed many times and will be interesting to see what options Monzo come up with.

I left some DDs with NatWest (for the rewards cashback) and the ones with Monzo come out on the day I get paid.

Like others have said, there are ways round it - it just means a bit of graft on your side to start with. But, then, think of the benefits you’re now getting with Monzo over your legacy account!

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Sorry :pensive:

I’m trying to avoid making guarantees or hard statements since we don’t have timelines that we can state as of yet. But I can probably be a little less vague.

There is an internal proposal on how this would work both technically and visually. An initial proposal was put together by our Growth Engagement team (same team who are working on Get Paid Early), and feedback on the proposal was asked for, which they are now going through.

We definitely want to build this, and the proposal of how we’d do it looks very promising.

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While I wouldn’t say I regret going #fullmonzo I am getting closer and closer to not being full monzo and moving elsewhere not really around the issue you’re having with monzo which I’m really surprised they still haven’t developed a solution for but more the direction monzo is going in is causing me to have this outlook

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This seems to represent what a lot of people have been doing down the years

For most of my life I have only had one current account and everything went in and out of it. Even with like five current accounts now (the result of some extreme FinTech curiosity in 2018) I still work much the same way. Maybe it is a bit of a mess, but I have scraped by

Always surprised by what I learn from this forum, whether it is baroque schedules for employers paying you all or coping strategies I knew nought of

If/when this comes to Monzo I will most likely press it into action to see whether it is as positive as you all seem to think it will be

I think the issue is (for me at least), things are said on the forum with the best of intentions, but it adds to the confusion and annoyance when messages are severely mixed.

Not too long ago we were told committed spending pots were being rolled out to staff, and the intention was to then move them to an actual customer release - I’m pretty sure everyone was universally happy about this.

Then it went quiet, and we are told in a passing message that all work had stopped, it wasn’t working properly and it may see some development later on (like cheque imaging may happen).

I’m sure we all completely get that not everything that is built will work seamlessly, but it seems really strange that this massive feature (and considering the amount of people who have asked for it, and the potential way it could change people’s financial habits, it really would be one of the biggest ever Monzo features), just doesn’t seem to have any major attention anymore.

It feels like because it didn’t work in the first instance, it’s been shafted for a time when someone wants to build it again.

Appreciate that staff will always have more insight into these things, but because Monzo offer a lot of information themselves, it always seems to shine a beacon on any time information is a little harder to get.

I personally feel it’d be better to just not give any hints at all until something is a guaranteed cast iron release.

Cheque imagine went from coming soon to “unlikely”.

Committed pots went from staff testing to “not working on”

Both of those issues would probably have been fine if we, as the customers hadn’t known about it at all (or were told it wasn’t an active focus).

Just my opinion of course, I’m sure others will disagree.

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Thanks for that, much appreciate the level of info.

To be honest, I’d be happy with a RAG roadmap… Feature 1 - Green (being built), Feature 2 - Orange (may be next to be built, some initial design mockups done), Feature 3 - Red (not being built/on hold).

And yes, things would change on this list but we’d be able to see that too… Ohhh Feature 2 is Green, Feature 1 is Orange… that sucks but ok. etc etc

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