New feature coming 👀

I’ve actually seen some vendors trying to push their customers towards paying for things via Faster Payments too. It’s great for speed and convenience, and fantastic for the business you’re paying, but it bypasses all the protections you have from paying by direct debit. Monzo Business makes this easy for businesses to deploy too.

That link.

Of course there are some disadvantages.

A cursory skim over a couple of “disadvantages” to give the apprearance of objectivity. Completely fails to point out a customer has absolutely zero rights if they transfer money to a business.

Just say no, kids.


Some interesting cases there.

I like the idea of using a card to pay for recurring payments and have them come from a pot.


Absolutely agree with you. There are advantages to it sure, and I could see it being an implementation I could support if/when consumer protections are in place. But right now, it’s a nope from me, I don’t care how trustworthy or how good a businesses customer support is, I won’t sacrifice my rights for convenience.

To my utter surprise it is hugely popular - we have now handled many tens of thousands of pounds in this way. I recall only one case of someone specifically declining to pay a deposit with order so far, and I am frankly gobsmacked, this is excellent!

This is quite an alarming statistic too. if I ever need to sanction anymore services from their ISP, I presume I’ll be the second person declining to pay a deposit via faster payments.

All I want right now is a higher pot limit with a monzo plus account :joy:

1 Like

Hahaha, what pots do you have!?

I have one for each bill and no where near limit

Why one for each bill and not just a bills pot?

Curious to know what 20 pots too :sweat_smile:

1 Like

Fair question and to be honest I have been debating switching it to one pot.

Just like the extra visibility of seeing where my paycheque is going

It’s no extra effort once set up, as I have scheduled payment into the pot and bill pots set up on all of them


I’ve currently got 13 pots in play; if I was doing budgeting a bit more seriously via pots, I would wayyyy exceed 20; but here’s what mine are:

  • Routine monthly bills - i.e recurring subscriptions I use bills pots for
  • Amex bill - primary credit card, paid from here. I try to transfer any amex spending immediately to this pot, but I’m not good at that by routine (please implement a way to do this with open banking!)
  • Transport pot - primarily for TFL transactions - IFTTT auto moves money spent at TFL here.
  • Coffee Pot - IFTTT auto moves any coffee purchases from my regular coffee shops from here.
  • Emergency Fund - aim to keep 1-2 months salary in here, targetting 3 months eventually.
  • Cash Pot - this is sort of a place I chuck a bit of cash when I do salary sort - to try and keep it away from my main balance.
  • Holiday 2020…
  • Christmas 2020…
  • Holiday 2021… savings for those three things.
  • Bonus Pot - Put my bonus from work here, and hid it.
  • ISA Savings pot
  • 1p Challenge Pot - for the IFTTT 1p challenge
  • £1 challenge pot - again for the IFTTT challenge.
  • and finally just a generic pot I made for testing some IFTTT things.

So a lot of these are designed around short to medium term savings. Some for emergency money. Some for hiding money from myself.

And some I use as some form of budgeting.

I could very easily make more for other budgeting type things. If I could do more payments from pots more easily, I would have:

  • personal care pot - hair cuts, toiletries, self care, etc
  • Clothing
  • Eating and Drinking out
  • Groceries
  • Household stuff (i.e. non grocery things).
  • Stupid Tax
    And lots of others for joint stuff, and things I’ve no doubt forgotten!

All of this I would generally do to clearly earmark money for various purposes.


I have the full twenty pots. 5 are interest bearing, just about.

All carry small balances for specific short term savings.

Anything else is in as high an interest rate account I can get atm, excl. NS&I Income Bonds as the £500 criteria makes it useless to me really.


This excites me wayyyy too much

So my pots are:

  • Water bill
  • Electricity bill
  • Mortgage
  • Savings
  • Amex bill
  • Badminton
  • Transport
  • Friends and family discount pot (for when people as me for work discounts)
  • Christmas/birthday presents planning
  • Content insurance/internet
  • Council tax
  • Ground rent
  • Ground maintenance
  • Maintenance fee
  • insurance pot
  • Phone bill
  • Groceries
    & a spare pot for savings for a certain item(s) which is currently “PS5 pot”

Definitely would like to shove all the bills (or at least categories of bills) into one pot, but I like to keep track of how much I am putting aside per month for each payment (can be solved by having the option to add a notes field to a pot so I can make a list in there).


Just let me make more pots :joy::joy::joy:


Or just add the total amount to the name of the pot:


I set it as the target for the pot myself


(Getting a tad off topic now :joy:)
Tried that for a while, and I have one pot which is still “in trial” like that. Though I find it easier with them listed out individually. Hence why I want an option to add static notes to pots

1 Like

I’m curious how you use this one? (As someone that is always giving out discounts!)

So are we all reasonably sure the new feature is open banking?



Fairly simple setup for me.
I pay with my Amex, then request the money from the person buying the product and put it straight in that pot. So when paying off my Amex I can easily see what’s my spending and what’s “other”.

Also means that they get a discount and I get avios points :joy:

1 Like

Whats benefit of virtual card?