Monzo Labs: Bills Pots šŸÆ

Making Monzo Monzo Labs
43

Weird that youā€™re not getting an answer for this.

44

Sorry team. Just working on getting the correct answer for you.

13 Likes
45

Thank you! This make such a huge difference to me. Especially when SOs are incorporated. My left to spend is always inaccurate because I already like putting my bills in a pot to one side.

46

scheduled pot deposits currently happen after standing orders go out - however if its a common issue then it can be changed.

4 Likes
47

Any interest on cash sat in the bill pot? If not, this feature potentially costs people money.

1 Like
48

Thereā€™s no interest on money sat in your main account so it should make no difference?

8 Likes
49

We do not currently offer interest on the balance of any pots that are not savings pots sorry.

50

Love it thanks guys. Couple of issues I just had:

  • I created a new pot, then hit ā€˜pay from this potā€™ on the new pot and nothing happened. Scrolling across to other pots and clicking it didnā€™t work on those pots either. Close the app and re-open and all worked as intended.
  • When I could click on pay from this pot, it took me to my scheduled payments screen, I selected one, and then it gave me the option to select a pot to pay it from. I feel like this last step should be skipped when youā€™ve already come from the pay from this pot button.

Hope it helps!

3 Likes
51

Is this going to speed up the ability to edit standing orders to pots at all? Iā€™d imagine this will make edits more frequent :neutral_face:

3 Likes
52

Thanks for this feedback. We are aware of the first bug and are working on fixing it. We are also aware that the second point is not an optimum experience and will be improving this over time :blue_heart:

5 Likes
53

I had the 1st issue as well, but couldnā€™t work out steps to consistently make it happen

54

Itā€™s not the end of the world as I can feed the pot on the last day of the month manually and as it stands the first release of this sounds amazing!

But Iā€™d suggest making it fool proof would be good in the long term. Use-case scenarioā€¦

I have a scheduled deposit into my bills pot set for the 1st of the month as well as a number of DDs and standing orders scheduled to come out on the 1st. Iā€™d like to be confident that the first thing that occurs is the pot deposit so all committed spends definitely come out of the bills pot.

Otherwise I might add money into the pot that has already been withdrawn from my main account.

8 Likes
55

Unless youā€™re on the original Monzo Plus terms (Ā£3/Ā£6 a month) and get the 1.5% interest, which covers your main balance and all normal pots.

3 Likes
56

Looking forward to this on the iOS release on Tuesday :blush: Just our of interest why is it available on Android before iOS :thinking: @jackcully

1 Like
57

:bananadance:

I told you weā€™d get there!!!

Thank you all so much for coming with on on the journey, for giving us your thoughts and most importantly, for using your votes in the way that you did. I cannot stress enough that the clear lead on user votes for this was a huge part of us re-prioritising this. I am so happy that you all finally get to use it!(Android today and iOS next week)

Since the feature is now in the hands of customers, I am going to move the initial thread to the Completed section and close it.

Would love to know your thoughts on not just the feature itself, but how you felt the communication journey over it has been so far - from the initial announcement about us building it, to the screenshots we shared, to it arriving in Labs. Any and all thoughts much appreciated :hot_coral_heart:

43 Likes
58

Just finished setting mine up. Excited to see it in action.

Once the pot can automatically sweep the amount from your main balance on Payday Iā€™ll be happy.

2 Likes
59

I think what Dominic is trying to say, that for people who store money in savings pots, or external accounts outside monzo and pay DD via transfering money from them, this means any money stored during the month will be sitting dormant, not gaining interest as would be possible elsewhere.

60

Will scheduled payments Iā€™ve set up manually work in Bills Pots in the future? For example right now I put my rent money in a pot over the course of a month then on the pay date I remove it and sent it over manually. Of course I know I could manually schedule this from my main bank balance, but thatā€™s not ideal as a I prefer to keep it in a pot so I donā€™t spend it. Being able to schedule a payment to my landlord straight from the pot will make sure I never forget.

61

Surely if your salary goes in and your bills come out on the same date youd just leave those ones to come from your main balance?

3 Likes
62

Agreed. I pay myself infrequently from my business and tend to have a stash of money in a savings account Iā€™ll pull from periodically just in time and it earns while not in use.

1 Like