Hello, I’m just wondering if there will ever be a feature for Instant transfer from your saving pots to your main account. Instead of having to wait for the next day for it to go into your main account. When I was with HSBC before moving to Monzo. I could move my savings from saving Accounts or to my main Account with out having to wait. Instantly!
I would love to see this feature has it will help on paying bills. If your main account is low and you need to move money across from your saving pot account. It doesn’t take the next day to be moved across and it does it instantly. That would be fantastic! That’s the only thing that I don’t like about Monzo at the moment. That it doesn’t do it and I have to wait. Apart from that it’s great!
Hey Robert Welcome to the community!
Thanks for the suggestion! This is something that’s been requested before, but because the money you put into your Savings Pot is held by the provider you signed up with (eg. OakNorth or Investec), we need to give them a heads up so that they have the time to move the money back into your Monzo account.
Withdrawals from an Easy Access saving pot should come through by 5pm the next working day, but if there’s ever any delays then you can reach out to us via the Help tab in the app and we’d be happy to take a closer look!
You can also vote for this feature here if it’s something you’d really like to see in the app: Instant withdrawals from savings pots
I think it’s like that because, unlike other banks, Monzo savings accounts are held with a third party provider.
Edit: Too slow. What he said
Let’s limit the discussion to the existing topic as linked above.