Hi all
I recently joined Monzo on the standard free plan and would appreciate some clarity over the pots function.
Am I correct in thinking that the standard pot and savings pot have the same functionality and ease of access ? If so why would you choose a standard non-interest-paying pot over the savings pot ?
Hi, welcome. If you want a place to save then the interest bearing pot is better, however there is different functionality between them. Regular pots can be used to pay bills and subscriptions as well as schedule withdrawals. You can’t use an interest bearing pot for bills payments or scheduled withdrawals.