Instant withdrawals from savings pots

Now that the minimum deposit for Easy Access Savings pots is £10 it would be great to have instant withdrawals and not having to wait next day so savers can maximise the amount earning interest without having to keep emergency money aside.

I can not believe no one thought of putting this on the ideas board sooner :man_facepalming:t2:

Well done for starting this! I’d imagine this will get to the top pretty quick.


To be fair I suggested it on the other thread but it was @o99 who reminded me to post an an idea. Although it sounds like something that may already be planned.


Hey there, instant withdrawals is something we’d like to work on soon.


It is due to this issue, that I have chosen not to add anymore pots.

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This is a real pain because you can end up without access to your money if you need it in an emergency.

Hope this is changed soon.

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If this happened, would we be able to use interest-earning pots as bills pots?

If you need an instant access account for holding your emergency fund you should put it elsewhere in an instant access account like a Marcus savings account, a non interest bearing pot or elsewhere.

Monzo make it clear that these are not instant access savings accounts, there not for holding emergency funds.

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Yeah, but it’s not like we’re talking about a fixed savings account where it’s normal and expected that the money is locked away.

Monzo’s savings pots are the equivalent of any other bank’s standard interest bearing saving accounts, which you can typically move money into and out of when you need.

The one-day delay is a clear gap between Monzo and other high street banks, so should be closed.

What would be really helpful is to be able to move money from one pot to another, say from a regular pot into a savings pot, without having to move it back into the main account and back out again…


Plus the thing is i remember it all being said that all the money is pooled together and kept in one account with the partner bank.

So surely it would be easy enough to arrange :man_shrugging:

There’s multiple partner banks. The money wouldn’t be kept in one large monzo account either, everyone should be protected under the FSCS rules

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No i understand that… maybe i should dig into the terms and conditions to confirm but i vaguely remember someone from monzo confirming that yes your money is held at say Charter Bank but its all held in a larger Monzo Account with them rather than everyone having an individual account, but your money is still protected by the fscs.

I could be very wrong on this obviously but this nugget of knowledge has come from somewhere :thinking:

That’s the way I understood it to work. I assume that means that Monzo does all of the customer/money management relieving the partner bank of any of the usual overhead associated with that.

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Would love this, just so I can add notes to a saving pot withdrawal at the time I make the withdrawal :+1:t3:

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I love the fact I have to wait till the next day as it stops me from taking money out on a whim.

So use them for
Christmas, saving for the thing / stuff i do not need now

For other stuff, I use Normal Pots
Fuel , School / Stuff i may need money now