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I agree with you that Monzo’s rates are good. Especially the new Max rate. But if one was a true rate chaser, there’s even higher rates available. I used to be a massive rate chaser, so I’m being rather pedantic about this :joy:

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Not sure you’ve said :eyes:

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I’m hoping this is the right place. Does anyone know or suspect Monzo will be increasing the savings rates at any point soon? I would love to port across some savings but the rates have stayed stagnant for what appears to be an eternity.

Nobody knows but I’d say it’s unlikely.

If they were planning to it would have likely been announced at the same time as the recent price rises to soften the blow.

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They already have. Extra now gets 3%, and Max now gets 3.5%. Before Extra got the same as Standard (2.75%) and Max got the same as Perks (3.25%).

Must have missed that :joy:

There wasn’t much said about it at all. You had to read the summary box monzo sent out in an email. Or if you were on Extra/Max you would’ve had an in-app notification.

I’m confused. I get 3.65% and I am on Perks. I will be downgrading this when I work out how to do it so I think this will mean my savings rate goes down too. It’s not attractive compared to other savings rates out there.

You’re talking about Select Access. Those rates aren’t changing. It’s only Instant Access // Instant ISA that have gone up if you’re on Extra/Max.

Perks tab → Scroll down → Cancel Perks

Other providers may offer a better rate, but it means you don’t have everything in one place. FWIW Monzo’s rates are higher than your average high street bank’s rates already.

But below Revolut (free plan) and Starling (assuming you can get the boosted rate)

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WHat do you get on there as i only get 2.9%

2.9% which beats 2.75% at Monzo.

I also have a boosted saver with Revolut which is 3.4% but that’s only on one pocket and not sure when it runs out.

Apologies I was on Extra so had the 3% rate forgetting the free plan was less.