Introducing Salary Sorter and Bills Pots 🎉

[Demmedelusive (Graham)]

That makes sense, Nick, thankyou.

[SteveE]

Good morning, I just wanted to give some feedback on the bill pots, having tried it this month.

I setup a bill pot and scheduled money to go in there on 1st of the month, the same day as some of my direct debits. When I checked in the morning, some direct debits had been processed before the bill pot transfer had happened and therefore paid from my main balance, the bill pot transfer then got declined because there wasn’t enough money in the account.

Can the pot transfers take place before direct debits are paid?

[DazF (Daz Fisher)]

I do not (currently) use Bills pot but the new salary sorter makes the left to spend perfect for me now, as all my DD/SO and subs payments are listed as committed spending and now my left to spend reflects perfectly

[HoldenCarver (Nick)]

I think you may have misunderstood how bill pots work. Bill pots can keep the money separate so you don’t accidentally spend it during the month, but on the day of the bill they will transfer the amount for the bill to the main account and then the payment is made there, not from the pot directly.

Quoting from a reply in another thread:

@anon95680666

as far as I understand it - having read the blog post - I haven’t used it - you go to scheduled payments ( direct debit etc ), tap on the scheduled payment , which then (scroll down the screen ) asks if you want to pay this from an allocated pot and to pick the pot which you want the payment to come from - its not just a case of putting money from your main account into a pot and expecting the app to know that you want to pay the committed spend from that pot - you have to allocate the committed spend (direct debit etc ) to a pot initially

Hope that’s of some help.

[monzorich]

How did you set a proportion rather than an amoun?

[Feathers (MikeF)]

By working out the corresponding amount and typing it in.

[monzorich]

No. That’s not it. The amount changes each playdate.

[monzorich]

Thanks anyway, but never mind. I was hoping for it to split percentages each payday going forward. Your quick reply was ace!

[Feathers (MikeF)]

You asked how it was possible. That’s the only way of doing it at the moment. You need to work it out each time and enter it.

Edit: Ah! we crossed over! I know what you wanted but thought a ‘not possible’ reply a bit to brief.

[monzorich]

Oops. Paydate. What’s wrong with my autocorrect.

[Demmedelusive (Graham)]

My error. I was uncharacteristically slack with my usage….

When I said “proportion” I meant “a lump of”.

[Mazzatron]

Seems daft that you cant pay a ‘subscription’ out of a pot. whatever you call it it’s still a bill to me!

[Feathers (MikeF)]

Just one that works significantly differently behind the scenes so as to make getting the right money in the right place at the right time an incredibly difficult thing to predict 100% accurately.

Writing something off as ‘Daft’ doesn’t reduce the amount of design effort required to make it work!

[alawrence (Anthony 🛩️)]

Keep in mind that for Direct Debits + Standard Orders, Monzo has prior knowledge and can schedule the movement from a bill pot to your main account (and it isn’t time critical in terms of how long they have to execute them). They have no prior knowledge of transfers + card transactions, and when it comes to card transactions have less than a second to run all their usual checks & reply to the merchant’s processor. That doesn’t even begin to address the issues with foreign exchange rates changing between authorisation and presentment/settlement, where the money from a bill pot might need to be more than previously thought, or less.

For now, if you are happy to have the money move post transaction you can use IFTTT.

[TRMonzo (Tony)]

I quite like the new design, but this is a little annoying -

This is the main account summary after bills have been paid out of pots, it’s duplicating information and makes it harder to follow what’s happening in my account.

Would prefer it if the transaction displayed, with a little note that says “paid from (pot name)”, rather than displaying duplicate entries.

Just a bit of UI feedback.

[ApexPred (Jay)]

I get you, I’m looking to change this into a DD, but still what do we do about other subscriptions like Netflix or TV now which get withdrawn as subscriptions and not DD and there’s no option to set these to come out of a pot.

[davidwalton (Award Winning Hot Coral Analyst)]

See here for a workaround for that if you really need CPA’s to be paid-from-a-pot;

Introducing Salary Sorter and Bills Pots

You can always change your payment type in your Netflix/Amazon/Microsoft/Google/etc. accounts to be paid from Paypal instead of your Monzo account - assuming you have a PP account linked to your Monzo account for payments. Paypal is then treated as a D/D in Monzo and so can be assigned to a Bill Pot to be paid from. You’ll gain payment automation but lose merchant tracking doing it this way (‘Paypal’ will be used for all CPA’s instead of ‘Netflix/Amazon/Microsoft/Google/etc.’)

Having it implemented in the Monzo app would be better though.

[Demmedelusive (Graham)]

As this thread is now supporting conversation on two very different functions, wouldn’t it help if the topics were to be separated?

[ApexPred (Jay)]

I do appreciate your solution oriented approach, but I don’t think this is a sustainable solution. The whole point of using something like Monzo is not to have to use PayPal! So I find this a bit counter intuitive.

I will log a feature request to add support for subscription type payments to come out of pots and not just for direct debits.

[davidwalton (Award Winning Hot Coral Analyst)]

A lot of people, including myself, have discussed (and possibly requested) the same feature request. Let’s hope it is delivered