My Monzo Setup

Cool thread!!!

Monzo needs to up their automation game. Feels like a lot of us are making manual recurring transfers to cover monthly budget amounts. Why not allow payments to come out of specific pots (instead of from main accounts) when we make a spend at a certain vendor, or when we assign a specific category to that transaction?

1 Like

I know that you can use IFTTT for some of what you’ve mentioned - for example - I have money in my “food shopping pot” and when an “Asda” transaction appears - it moves money from the pot to my main account to replace the missing money :slight_smile:

As it’s just been payday for me (com’on Monzo, allow the ‘monthly’ payday to be something like 'last Friday of the month), I’ve just done the following:

  • Salary in (automatic)
  • Manually move money via bank payment to my credit card (OpenBanking would make this easier as a rule could be written to pay ‘Pay up to £xxx of credit card bill’)
  • Move money to our joint Nationwide account
  • [Nationwide - Move some of that money to our joint savings account, leave the rest in the current account to pay for mortgage and other ‘tricker than a simple web form to change’ direct debits’)
  • Move money to our joint Monzo account for other bills
  • Move money to Marcus for savings

At least 3 steps could be automated with a ‘On payday…’ trigger and a fourth could be if Monzo could view my credit card statement to know how much to transfer.

1 Like

I’d be so so happy when an “on payday” trigger. A small thing but I think it’d delight so many…

This would also be super helpful in keeping Summary accurate - and maybe an easy way into aggregation / the financial hub we hear so much about! I’d even be content with being able to manually enter my credit card bill for the month!

2 Likes

This topic was automatically closed 180 days after the last reply. New replies are no longer allowed.