Monzo & IFTTT - Support Thread


#167

Awh :frowning: what if I want money ring fenced regardless of being in overdraft?

Also noticed if you try this in the android app, it just says ‘sorry there was a problem, please try again and contact us if this continues.’

Should that not state that money can’t be moved into pots if the account is negative?


(Alex Sherwood) #168

I’m guessing that the reason that’s there is to stop people moving themselves into their overdraft by moving money into Pots.

It sounds like it should to me :slight_smile:


(Toby Toller) #169

I’m going to regret bringing this up but…

This feels like another inconsistency with the whole overdraft fees when overall account balance is positive.

If a user has opted in to use pots and overdrafts, and are prepared to pay the resulting overdraft fees, why shouldn’t they should be free to continue to ring fence money in pots?


(Toby Toller) #170

Maybe a prompt to avoid this needs to remind people this would take them negative or further into their overdraft, but preventing it seems inconsistent with the design decision around pots and overdrafts


#171

Starling does it this way which was nice.

Generally I wouldn’t be bothered about not being able to move into pots with negative balance, having recently changed jobs it screwed up my cash flow for a bit :frowning:


(Kieran McHugh) #172

Hey all,

We did push some updates and bug fixes yesterday. One of these was a bug where, in some cases, people could send themselves into overdraft with IFTTT.

Using our app and public API, it’s not possible to move money into a pot if it would result in you becoming overdrawn. So this bug fix makes sure that the behaviour is consistent.

Thanks,
Kieran


(Rod Crawford) #173

Hi Kieran.
Unfortunately this happened to me and I have a few IFTTT autos that I like having (1p challenge into a pot, car insurance savings). I understand that you want to avoid people going into overdraft using it, but for those of us who choose to live in overdraft (happy to pay the £15.50 a month and leave a cash pile elsewhere for unexpected bills, holidays etc) then this is simply a great feature we can never use. Surely if the customer is happy, willing and able to remain in an overdraft then they should have access to all features, not given (what feels like) a restricted, nanny-state esc account.
Thanks!


(Alex Sherwood) #174

I’d be curious to hear why you’re saving money before you’ve paid off your debt? (Or if you’re not using the Pots for savings, how are you using them here?)


(Jack) #175

Why don’t you do the reverse and use the overdraft as your reserve stockpile. That’s how an overdraft is designed, no?


(Rod Crawford) #176

I’m happy to pay £15.50 a month on an overdraft of £1000, as the interest isn’t too expensive. However, if I were to be constantly reducing my overdraft over time, I’d still be paying the same amount of interest (£15.50 a month) right up until it has been paid off, making the cost of the debt progressively more expensive with the less debt I actually have (quite ironic).

I got in the overdraft as I needed the cash quickly, and have every intention of paying it off when I get a lump sum in (selling my car in a couple of months). Up until that point, I’d still like access to the full features of the account. As I said before, I’m willing, able and happy to pay £15.50 currently, so why not give me the option? Just because someone is utilising their overdraft facility, it doesn’t mean they are in financial difficulty.


#177

Saving emergency monies? I just had to get a full set of tyres that I hadn’t yet budgeted for. (Run flats are expensive :frowning:)

I know that’s what an overdraft should be for but saving a future buffer to cover it is more important to me than paying £15 for the overdraft.


(Alex Sherwood) #178

Surely you could just keep some of your overdraft left over in order to ‘save’ for that instead though?


(Danny Martinez) #179

Is it at all possible to move money into a pot after receiving a payment?


(Alex Sherwood) #180

Not yet, no but :soon:


#181

totally new to this, is there a decent guide to using ifttt and monzo?
also is there a good guide of how to use the google sheet applet?

is it possible to set up one that rounds every payment to the nearest £5 unlike the coin jar? and place in the jar.

is it possible to link this to fitbit steps and if I reach my goal move say £2 into a pot.

or do monzo have to create these applets?


Monzo & IFTTT - Feedback Megathread
(Alex Sherwood) #182

This is a pretty good place to start -

If you’d be willing to explain what you’re trying to use it for, I’m sure the community can help :smile:


(Paul) #183

Apols if this has been covered. I’m using the 1p Challenge applet but the amount isn’t accounted for in Summary (committed section). Should it be? Is it not showing because I’m only moving money from balance to pot?


#184

It’s technically just an automated movement from balance to pot so it won’t show as committed spending and it’s not possible to set these types of movements as recurring.

It wouldn’t be useful in committed spending as the amount changes everyday unfortunately and I guess the app doesn’t technically know that these movements are for the 1p challenge.

The Monzo team would have to develop something that made the Monzo app aware of recurring things like this so it could show in committed spending. it’s actually quite and interesting feature to have requested

Or maybe in the future the app will be smart enough to realise that you’re moving the incremental amounts of +1p at the same time every day and automatically add it to committed but it’s not there yet unfortunately.


(Paul) #185

Thank you for your reply. It makes sense and I guess we watch this space on where things like this will go in the future


(Richard) #186

Can anyone explain how to use IFTTT to reclaim money from pots. For example someone has set one up to reclaim groceries from a groceries pot, I’d like to do this for a number of things.

Even better, Monzo… If I could pay directly from pots.