Interest rate features

[Revels]

Interest on pots doesn’t update to the new rates! Not fair!

Hey I’m a savings engineer here at Monzo, sadly we don’t control the specific savings product you are on the rates are defined by our partners and differ from the latest rates. This goes both ways during the pandemic older customers were getting better rates than new customers, now that we are trying to get back to the new normal rates are increasing and our partners are raising rates for both our latest products available for new customers and normally for older products too. These mig…

Interest on pots doesn’t update to the new rates! Not fair!

Our providers have been raising old rates this isn’t something that we normally shout about (unless you’ve got one of these pots) Whenever our partners raise the rates you should get an email and your Summary Box will be updated on the day they are updated to reflect the new rate. We are pushing our partners to raise rates to make sure the Monzo marketplace can help our customers save. They did decrease during the pandemic, but users with the older rates were left on the higher rates longer t…