Monzo new Savings Pots

Currently my Monzo pots are are on different interest rates, emergency fund is 4% and a couple of others are at 1.81%.

It did say Monzo has the right to reduce these percentages if they wish to upon opening these savings pots.

Does that mean Monzo can also increase them and just choosing not to?

Or will they be updated with the actual rate Monzo is giving to those who open new instant savings pots only?

And anyone who has been saving for longer are stuck to the old rate unless they want to lose all the transaction and saving history and close the pot and re open a new pot?

Can there not just be a setting in the Monzo pot that we have to tick that says ‘update to latest interest’ or Monzo not just give us the best solution available.

Interest rates are high enough right now to consider other options that don’t require this manual method eg my Zopa savings account they update my interest to all current savings accounts with them it does not require closing and re opening.

Anyhow just wanting to get some feedback on this from others who know more how these Monzo savings pots work.

Thank you

If you have a search there are dozens of threads with all these questions answered.

The 4% Monzo pot will update when Monzo change the rate. Lately this has been on the same day that BoE change the base rate.

The 1.81% pots are not controlled by Monzo. They should update but don’t always, the suppliers don’t have to move you and obviously prefer to keep you at a lower rate. Keeping them for transaction history rather than upgrading to a higher rate is one of the more bizarre things I’ve seen on this forum.