I just had a fun/responsible idea.
So the money can still be unlocked by staff
But also you can nomiate a fellow monzoer be it a friend/other half to have to authorise the pot to be unlocked through their app. (instead of it going through staff)
3 Likes
How about locking a pot until a set target has been reached?
6 Likes
Orā¦ Locked until target reached???
That feature would also be great. If I save for my new laptop quicker than u thought then I donāt want to have to wait until the locked date.
2 Likes
I think people need to have access to their cash rather than locking it away completely.
What happens if they need to access it in case of emergency?
1 Like
You can contact support to unlock it early
I was more chipping in about nominating another Monzo user to unlock it.
I think having some kind of friction is fine, but the money needs to be accessible enough that in case of an emergency you can get to it in a reasonable time (whether thatās 30 minutes, 1 hour or 1 day I guess is up for debate)
Iām not fussed about ālocked potsā on the basis that I wonāt use them (Iām struggling to see a real world case for them for someone who isnāt classed as a āvulnerable customerā).
They seem to be an extension of the gambling block, catering for people who perhaps canāt control their spend (by their own admission), which raises the issues of āwhat if they needed their money immediatelyā?
In this situation, Iād say the smart move would be to have an emergency fund in a bank you donāt use very often (perhaps cut up the debit card, or put it in a savings account with instant access), and then you can use the Monzo locked pot as a day to day deterrent for impulse spending, yet knowing you have an emergency backstop if you really need it.
I canāt imagine why someone would want to use the locked pot for simply storing their money?
2 Likes
Iām planning on using themā¦ Iāll give my specific example.
Iām terrible at self-control. I see that I have Ā£100 in a savings account and I think āIāll just dip into thatā. I joined Monzo in October and set up pots for annual spends Iāve never budgeted for in the past (car insurance, TV licence etc.) I plan on locking these for the months that they wonāt be required whilst putting in a 12th of the cost each month.
hopefully this will be enough of a deterrent to stop me dipping into stuff.
8 Likes
Thatās absolutely fine - Iād argue that if you are in that situation where you need that extra support from your bank, you could be classed as a āvulnerable customerā - Plenty of research has been done on the challenges of self control with money, and itās great Monzo have the option for people like yourself 
Iām similar to @adinus here. For me I want to save a little bit of money each month for special occasions and if I am struggling for cash one month, or I am drunk (which doesnāt happen often anymore so when it does Iām a complete lightweight!!), then I would dip in thinking that Iāll reimburse down the line. A locked pot would stop me doing that.
Yea but then there would be nothing to stop me using my app to move the money across. For me Locked Pots is the way to go but only for some money not all. I think locking away all spare cash could potentially be very dangerous in case of an emergency.
Something Iāve never really thought about, but quite enlightening to hear someone who doesnāt know me call me that! (in a good way).
Ironic when Iām paid well and in a responsible job. Defintely doesnāt equate to being responsible with money. 
1 Like
Haha - Itās not a bad thing!
A vulnerable customer doesnāt need to be how it sounds (a poor defenceless person) - It covers a massive range of people.
If people have a serious problem with self control, Iād love to hear an argument for why they shouldnāt be classed as a vulnerable customer (in the same way a gambler has an addiction).
Surely in those situations youād just use your emergency cash? Again, this is all on the assumption that someone really canāt control themselves!
Youāve actually got me on that oneā¦I didnāt think that sentence through
Iād be useless in a debate team!
1 Like
What if someone just wants to lock some money away in a place thatās a little harder to get to without having to open a new account?
Itās not a massive leap of imagination.
Comes across a tad dismissive to say that you can only imagine those classed as vulnerable customers would have use for it.
2 Likes
Iām sure there are plenty of examples, none of which I can think of for my own uses, hence asking what people would use them for.
What example would you use it for?
Itās not being dismissive at all, simply looking for opinions that arenāt the same as mine to get a balanced picture is quite the opposite of being dismissive 
Iām sure most people will use this feature to help them save as it will help take away some of the temptation to easily dip into their savings. personally Iāll probably use if to save for Christmas and a holiday.
From your previous messages it sounds like you are very good at saving and wont need this feature so well done you. Unfortunately most people arenāt that good at saving which is no doubt why this feature was a popular request.
1 Like
I havent read the whole thread so apologies for any duplication.
I think a useful feature of locked pots would be that on creation, you set a timeframe for early release. So if you set it at 1 dsy, you can click ārelease potā and its available in 24 hours, that way different people could use it for their own purpose. One day would be enough to combat impulse spending if thats your goal, setting no early release terms would lock it away til the date specified. This would save customer services the trouble of getting involved every time somebody wanted to access their locked money
2 Likes
It is Jaegerbomb seasonā¦
Every sesh is Jaegerbomb seasonā¦
Hello!
I would be using it so put money away until bills are due. Atleast try to use it that way anyway. Much like a Squirrel replacement. (Check out that service if you havent).
Also to give myself weekly budgets (week 1, week 2 etc) throughout the month.
Jamie
1 Like