Increase pot limit

Feedback & Ideas
1

Apologies if there is a current feedback topic on this (I could only find an old one where the original limit was 10)

Please please please could you consider increasing the pot limit from 20 to 30? this could be a plus/premium feature. I really need some extra pots and find myself always juggling pots and archiving them.

I like to split different expenses / things I am saving for into different pots so I always have the funds there for them. Even a 5 increase would be great, but ideal an increase of 10 to a total of 30 pots would be perfect.

Some savings I keep outside of Monzo purely because of the pot quantity limitations.

Would anyone else benefit from having the ability to make more pots?

2 Likes
2

Not really as my ā€œPotsā€ are with Chase now, earning 1.50% AER compared to zilch.

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3

Would it not be better to just rename them vs archiving them, and then resetting the goal once youā€™ve reached your current?

I think my head would pop if I had too many pots :exploding_head:

Chase allows 10 current accounts and 10 savings accounts, which id have no idea why anyone would need that many :thinking:

4

Most of mine are hidden and scheduled transfers happen, so no headache. Just not enough pots that are free, even after combining multiple expenses into single pots to free up some ā€˜pot spaceā€™

And from a users perspective, an increase of pots shouldnā€™t deter those who donā€™t want to use so many. Just donā€™t use them :slight_smile:

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5

You can do that if you like. The transaction history would be for the entire time rather than for the ā€˜newā€™ pot only obviously.

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6

True. Was only a suggestion.

I donā€™t know the reasoning as to why itā€™s capped at 10, possibly use case feedback and practicality.

7

The current cap is 20 (unless itā€™s been increased somewhere), I have 16 at the moment for various bills, savings, emergency funds and round ups :sweat_smile:

Definitely something that is useful feedback for those who would find more pots helpful.

2 Likes
8

If its something you want, search for it on here and add your vote.

Itā€™s not in high demand though

9

I agree.

I have three current accounts with Chase, though one is now defunct since introduction of savings accounts, and six Savings accounts. These saving pots are for the higher monthly deposit and running balance goals.

In Monzo, I currently have 14 pots, I think. One is where I store the money to pay off credit card DD in full when used (currently Ā£0 as all spending via Chase), one collects money to cover Disney+ each April, one for Amazon Prime in time for annual renewal, the rest are where I throw Ā£5pm for relatives - to allow me to then give them Ā£20 on their birthday and Ā£40 at Xmas. Not major sums, however, theyā€™re happy with their gifts :smile: and itā€™s easy budgeting. Interest on these nominal amounts would be pence, so cba about chasing interest bearing accounts for those tbh.

Oh, and a quick search of this forum reveals this thread with 21 votes. No action since Jan 2022.

2 Likes
10

I need more than 20 pots, sucks I just hit the limit. Pots are what make Monzo better than traditional banks, organising my money in a way that makes sense to me.

  1. Pot for monthly allowance
  2. Pot attached to spending card - I transfer when I need to spend
  3. Pot for risky purchases with a disposable card - Like I donā€™t trust giving my regular card details to G2A game store
  4. Multiple pots for specific allowances - fuel, haircuts, zakaat, birthdays, etc
  5. Pot for rent - automated
  6. Pot for annual bills - automated
  7. Pot for monthly disasters
  8. Multiple pots for saving for specific things like Ā£700 for a Lenovo Legion Go (ifykyk), house, etc
  9. Pot for car maintenance
  10. Multiple Pots for paying off specific debts like yearly car insurance, internet plan, etc
  11. Multiple pots for actual savings and other emergencies

I get itā€™s nuts but after struggling a heck tonne to find a process that works Iā€™d really like that limit to be revised. Iā€™m paying premium so I would pay for a better limit (or unlimited).

Also whatā€™s the point in archiving pots, I guess for a paper trail, but usually after itā€™s archived I donā€™t use them again.

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11

:eyes:

Saved yourself a Pot.

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12

Iā€™ve actaully gone the other way. With 4.35% interest on the Savings and ISA ā€˜potsā€™ they are the only 2 I dump funds into, with a mission to keep the funds in there for as long as possible. Pots are dead now thanks to no interest. Even our Bills pot only gets funded the day before the bills are due.

Sad pots.

1 Like