More flexible Round-up settings

Feedback & Ideas
1

I find the round up feature to be really useful, I’ve accumulated £180 from round ups alone this year!

I don’t know about anyone else, but I would like to be able to change the round up a little bit. Currently it is obviously rounded to the nearest £1.00

I think two extra options would be useful:

  1. Round to nearest £1.00 + £x.xx

This would allow you to save a little bit more from every transaction if you so wished.

  1. Round to nearest £x.xx

For me personally, this would be beneficial in two ways…

It would help you save more, but more importantly it might make you think twice if all of a sudden your £1.50 coffee or snack from a shop turns into £5, which would/should reduce frivilous spending.

Also it would make all the transactions in your home tab multiples of £5 or £10 or whatever which would be satisfying for me haha

2

I think that you can do at least some, if not all of this by using IFTTT already

3

Hmmm, just looked into it - I don’t think it works with joint accounts, plus it would be nicer for it to be integrated. But thanks for the heads up - there are lots of things in ifttt that could be useful to me!

4

IFTTT would create a new feed item for moving the money to a pot, which would quickly get messy - unlike the roundup which is integrated into the transaction.

5

For me this works much better, I don’t like the integration as it doesn’t show the amount spent just the total of the transaction, so I use IFTTT to display the roundup amount as I like it kept seperate.

It’s all a matter of choice and hopefully one day Monzo will update the feed information to show the transaction amount with the round-up amount shown smaller underneath, which will still be on the one line. This looks good and works well on the other bank feeds I’ve seen elsewhere.

6

The round-up ‘acceleration’ in Monzo plus is awful.

Maybe this is just me, but the main benefit of roundups is having whole numbers for all the transactions. The fact I can save some extra money while doing this is frankly a small bonus. Why on earth would I want to multiply the amount of change? Surely any sane individual would prefer to save faster by rounding to a larger integer (2,5,10, whatever)?

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7

Not necessarily. Some very sane people wouldn’t be that bothered.

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8

Lots of people don’t seem to care that it’s not rounded.

I use IFTTT and add an extra £1 so I save more and it’s still rounded.

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9

I don’t care for whole numbers either. What drives it for me is saving money that I thought I didn’t have spare. Mine is set at 2x and has been netting me a tidy sum each month - it’s brilliant.

Any multiplier higher than this and it would certainly impact me, so it’s a nice balance.

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10

Some people just want to watch the world burn