Improve how Locked Pots are locked

When the locked pots feature came out you were able to lock away your money until a pre-specified date in the future. I LOVED this feature meaning I wasn’t tempted to dip into my savings pot come the end of the month when I didn’t really need to.

Monzo brought out a release that allowed you to unlock your pot before the specified date and completely raid your savings; meaning I spent my £600 I had saved for my next holiday on things I didn’t need!!

I understand that users were requesting access to their locked pots meaning more and more support queries and time spent unlocking these pots.

I LOVE Monzo, I’ve had about 10 different friends sign up as a result of me talking about it. I love all the features, I love the UI, I love the card… I love everything about it… except the fact I can now unlock a locked pot…

I’ve actually started looking for another app that would allow this feature to use along side my Monzo simply for savings. Please tell me there’s consideration for this (properly) locked pots to return to Monzo. I’ve read there’s a possibility of cool-off periods for unlocking or even having to opt in to early unlocks.

@Monzo… I am a software developer!! I have even considered applying for a job at Monzo so I can fight for this feature to be reinstated. Please help a (very bad at saving my money) guy out.


I understand. But I also understand Monzo’s stance regarding the staff time spent unlocking pots. Can I ask what you spend your savings on when you raid them? Would a merchant block be of more use? The only other thing I can suggest is to find a legacy bank that requires you to use a card reader to add a payee, open an account, send your savings there and bin the card reader! :joy:

I did exactly the same, blew all my money once they got rid of the lock. Tried transferring to a different account but with no friction that went in a couple of days

Really hope something is added soon

How about using the fixed term saving pots ? You could set it for 6 months or 12 months, and you would earn interest in the meantime .:thinking:

Oh no … I’ve been squirrelling away money for Christmas. I didn’t realise I could unlock the pot … until now :cry:

You need a lump sum to open that and can’t add to it. Also you can’t specify a date

:see_no_evil::scream: don’t do it ! :see_no_evil::see_no_evil::see_no_evil:

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So unlocking a pot was needed because of the time spent by staff unlocking them. Understandable.

For some people the idea of raiding the pot and completely clearing it out is enough to dissuade them.

But others clearly not.

So how about to avoid those ‘impulse purchases’ putting a delay on unlocking, say, 1 day to a week? If you feel like you REALLY need the money, then you would be happy to wait a week. If not, then you’ll probably just leave it there.

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I have a locked pot for 12 months, I don’t wish to raid it I Intend using that money when the term expires. I like the idea of the locked pot, it will ensure I don’t dip into it for any reason.

Once I have some more spare cash saved that will go into another locked pot for 12 months, of course I can also keep some money in my Marcus account for easy access should the need arise.

That’s how I use it :slight_smile:

I suggest maybe looking for a notice account I have one with paragon bank that I have to give 120 days notice to get your money I find this helps me save since monzo gave access to unlock your pots, so I know where your coming from about lock pots

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