Starling give 0.5% AER on up to £2000, which is £10 a year if the balance is always >£2000.
In comparison Nationwide give 5% for the first year on up to £2500, which is £125.
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Interest on savings pots/accounts rather than interest on account balance seems like the better idea. My balance fluctuates far too much for account balance interest to really be worth very much. Even if it was 5%.
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That £10 is more then I’m getting using monzo right now though let’s be honest. And starling give you interest on your overall balance with goals balance included in the interest.
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of course they are included, as goals are just compartments of the account and not a separate account with it’s own number
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It’s why I believe that monzo should pay interest as a whole account rather then just a savings pot which would make more sense.
but the way Monzo excludes any Pot balances from overdraft charges indicates that they regard them as not being part of the account but something separate, in which case they should specifically confirm the FSCS covers all amounts at Monzo and even consider separate account numbers for Pots if they are not being treated as part of the account!?
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FSCS covers all savings in an institution. Apart from that it’s all one account even if some is separated into pots
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I know, but it would be reassuring for new customers less knowledgable about banking 
I don’t see any reason for confusion
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“in which case they should specifically confirm the FSCS covers all amounts at Monzo”
It is clearly specifically stated
" Is my money safe with Monzo?
Your money is fully protected by the Financial Services Compensation Scheme (FSCS), meaning that all your money up to £85,000 is guaranteed by the British Government. "
its mentioned prominently on the website and in the FAQs page on the Monzo website and in app under FSCS protection
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thanks Ian…I tend not to read FAQ unless I need a cure for insomnia 
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Does anyone know if there are any app updates, fixes or new features due for release this week?
Does anyone know if there are any app updates, fixes or new features due for release next week?
That is basically a marketing ploy, they’re ‘spending’ up to £125 to acquire you as a customer in the hope you’ll stay for many years after out of apathy.
Base rate is 0.5%, you shouldn’t expect anything more than that. For me I’d far rather Monzo just kept the £10 or so a year and put it towards making the product even better!
*edited typo
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It’s actually at 0.5% at the moment. So they’re just passing through an interest received on a deposit with the Bank of England.
Yeh sorry, typo!
Uggh, not Shawbrook 
. They recently advertised an identical ISA to my existing one but with a higher interest rate. Seems like they prey on customers’ apathy.
I’d rather someone like Ford Money who guarantee interest rates for existing customers won’t be lower.
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Why does this have to be from one provider? Surely a pot can be from any savings provider like Moneyfarm, Nutmeg.
I would imagine the hard part is that they want the process of setting up a new “interest bearing savings pot” to be as simple as possible, so all done inside the Monzo app and with as little “friction” as possible, much like the pot creation is now. This means you need to get the provider of the savings account/pot to collaborate and open up APIs etc, so all the heavy lifting (KYC checks etc) can be done in the background and the user doesn’t get bothered by all that.
In the case of Shawbrook, as they were/are part of the Marketplace beta, a lot of the leg work has already been done, I expect, so it’s no doubt simpler to get them to provide the first iteration. No doubt Monzo will have reached out to other providers, but they have some work to do to catch up.
That’s my understanding anyway! Hope that makes sense.
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