Locked pot until reached target?

I’ve been thinking that it would be great to be able to lock a pot until you reach the target amount, as opposed to just having an option to lock until a date.

It would be great if saving for a particular purchase, as at the moment if I have a saving pot it’s easy for me to dip into it now for other things. Locking until a date is great for saving for Christmas or a holiday etc, but I thing a target based lock would incentivise me more to save for something like a new laptop or whatever.

What do you think?

1 Like

I think Monzo need to make a decision on how they’re going to add friction to locked pots again before anything else. See here:

Until then, it’s now far too easy to dip into your savings (i.e. unlock your pot) regardless of whether this is tied to a target amount or not :slight_smile:

1 Like

Yeah good point. Hopefully this can be added at some point as well as adding friction, the problem I’ve had with traditional savings accounts in the past is exactly this, it’s just way too easy psychologically to grab £50 here and there to supplement regular spending towards the end of the month… The more barriers to deter that the better for me.

The main reason a target based lock would be great for me is that it would encourage me to deposit into it more regularly. But either way, Monzo is already making me so much more conscious about money so I’m definitely not complaining. It’s a good thing in itself that I’m coming up with ideas how I an can even better manage my money…

1 Like

A feature I feel would help with savings, having pots which are lockable are great, having locked pots with savings which are unlocked rather by hitting a target rather than a date. So if I’m saving £1000 for a laptop, the pot will only unlock once the £1000 is filled

A few people have suggested this in the past already.

You can see an example below and the second comment from me, why I can’t see it happening anytime soon :slight_smile:

I know this was raised over a year ago, but is it possible to arrange a facility to lock a pot for the goal of an amount of money rather than a date?

Such as - I want to buy new beds for my two boys. I can only do this once I reach £300. There isn’t a fixed date and I’m less likely to draw on it if it’s locked.

I know it’s a small thing to you, but it’s a big thing to me - and my boys as they hate sleeping on the shed roof every weekend…


A shed roof? When I was a laid we didn’t even have a shed, let alone a roof to sleep on…


Sleep? You lucky thing. When I were a lad we weren’t allowed to sleep.


I had to get up in the morning at ten o’clock at night, half an hour before I went to bed, drink a cup of sulphuric acid, work twenty-nine hours a day down mill, and pay mill owner for permission to come to work, and when we got home, our Dad and our mother would kill us, and dance about on our graves singing ‘Hallelujah.’



But you try and tell the young people today that and they won’t believe you


I’m sure there’s a way Monzo could work around this.
Maybe a function where you have to complete multiple actions to unlock it? Such as an email verification and 30 minute timer? To give you time to think “Wait, I shouldn’t.”

1 Like