Now in Labs: Safety nets

Needs to have a sweep on salary receipt feature! From the main account or from another pot!

(Edit, that was meant as a reply to @Revels’ post but it looks like I’m talking to myself :man_facepalming:)


I guess this is to remind people this is a safety net, not that Monzo can stop you spending on what you want, but if you changed it to a picture of a beach or a car or a Dominos, you might be more inclined to spend it on those things.

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That’s fair enough, but I think the answer is a bit more friction rather than imposition.

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I thought you were just adding to your thoughts! But yes, agreed! I’ll do it manually because I don’t want to fund my bills pot exactly incase there’s a tiny change in a direct debit that I don’t notice.

Bills Pot > Account > Safety Net

What a grind, eh @giorgio :wave:


Another quick thing:

I’m not sure that days is the right measure here. Bills are typically monthly. It might just be the way I think but when I see days, I think spending money rather than essentials.


Strong agree!

I think we need something on that does this:

  1. Pay received :tada:
  2. Fund bills pot to value of bills therein (with an optional x% buffer)
  3. Fund other pots either to a total value of £$x OR add £$ to the pot OR put a percentage of your pay into the pot.
  4. Retain £X in main account for spending and sweep the rest to Y pot/account. If not specified leave everything in the main account.

That’s more complicated than I originally envisaged, but #2 is basically saying could set salary sorter to automatically top up your bills pot to a specified value. No sweep necessary because that would be done as part of #4 (where you’re sweeping all your unallocated cash somewhere for safe keeping).

The reason I mention percentages is that some folk like a percentage split between bills, spending, savings and investments.


Thanks to everyone who reported an issue with setting up regular deposits, with your help the team have found whats going on here :pray: Regular deposits will not be set up if you don’t make an initial deposit. That’s not the experience we want and will have it fixed for you shortly :hot_coral_heart:

In the meantime, if you want to set up regular deposits you can add them by going to the Scheduled Payments screen from the manage tab.


Awesome. Great work :raised_hands:


That explains why I didn’t experience any issues, as I deposited £10 to test it.

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Conceptually, love this idea (once I get to play with it will give actual feedback) - I think the concept of an emergency fund is super important.

If I’ve got the thread right this pot is basically…

  • a specially skinned savings pot, with a goal auto attached to it?
  • Will do some magic analysis of your spend
  • Has a splash screen?

Beyond that it’s functionally a pot with a goal? Does this mean, possibly then, the eventual existence of more specific use cases to have their own Special Goal Pot, that have some form of Magic Analysis goal? Wedding, car, deposit, holiday, or dare I suggest… Debt Paydown Pot? (Avalance/Snowball method of debt payoff, using magic auto payments to your CC? - that would be cool!)

Some thoughts;

  • Is a “safety net” the same thing as an “emergency fund”? - is there a specific purpose of possibly going for a less recognised term? Is this being pedantic - maybe - but I wonder what the two terms make the target user think, and how they interact with the pot. (Especially if you’re quite new in your journey of financial health)

  • Some of this comes back to training people to budget again - but “unexpected bills” is in the copy (in this post) vs “a months essentials” - conceptually different things - and I’d love more of monzo doing financial education to it’s user base to give more clarity to that.

  • I love that the splash screen has a little explainer - It would be helpful if this kind of thing could be more persistant or easily re-findable - a lot of my gripes with monzo budget like features, is trying to re-access the info if you don’t immediately use it.

  • I’d also love the help screen to link to a bit more context of an EF for purposes of financial literacy - blog post of some kind maybe that covers the basics of it?

  • How this transitions into a longer-period-of-time pot would be cool to see too.

Anyway, love this - hope it’s one of many related and helpful features to come.


This :point_up: is my new favourite post.

Spot on. Excellent work.


I use pot images from and I’m unreasonably irked by how now my images aren’t consistent!

Also, the safety net heading has a lower case n, but joint account has an upper case a which I find inconsistent.

I have set up but my preference would be to use more as an emergency fund for a possible 3 or 6 months of expenses in case I lose my job. It would be great if you could multiply the goal by months.


In addition to above, I would add that it also has;

  • Friction when trying to withdrawal (e.g. reminder of the purpose of the funds in the pot)
  • A reframing of the % towards pot target amount as % towards 31 days of funds
  • A custom ‘edit pot’ menu with a limited set of options compared to other pots

I think the above features have a bunch of potential for uses in other contexts. It would be neat to be able to set custom withdrawal warning messages for pots for example.

Regarding the term ‘safety net’, I suspect it was picked over ‘emergency fund’ as it uses positive rather than negative language. Safety nets catch you when you’re falling, while emergency funds resuscitate you after you hit the ground.


This gave me an eye twitch too.


Sorry Nationwide bank I’m changing my ISA to Monzo if its instant access related. :wink:

Plus a nice little pot of :money_with_wings: for gadgets or a rainy day.

My main savings is a lifetime ISA by OneFamily.

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Can’t wait to see it come to iOS next week. Keep looking in monzo labs but it’s not on mine yet. Keep checking updates too on software but still nothing lol I’m so impatient :joy:


It doesn’t give me the toggle box for enabling round ups in the pot settings. Is this a bug? On the other 3% instant pot I have the toggle box but not the safety net one.

I would like to fund it with just round ups at the moment and not monthly fixed amounts, so not much use for me without the roundup feature.

Also, the name safety net makes me think it should kick in if a payment makes your current account balance goes below zero. If it just bounces the payment then that is not a safety net, it is just a pot that you need to manually go in and move things aroind. If that is what is desired from this by Monzo’s product team so as to not interfere with overdraft revenues then maybe it should be called a Rainy Day Fund or something like that, rather than a Safety Net, in my opinion.


So this is minor in the scheme of things, but I still think Monzo needs to rethink its approach to words.

We have Targets - which is the wrong word because you’re not aiming to spend that much.

We have lack of clarity on interest statements.

We’ve had poor copy on the no to joint accounts splash screen.

And let’s not get started on the whole frauded debacle.

Let’s keep this in perspective. It’s not major, and the product team seems to be on fire. But they really need the right support in naming things in a better, more precise way.


They really need to run all future changes past @Peter_G first!


Come on now, I want them to make things better :rofl: