The interest-rate on offer here will great for my short term savings (e.g. savings for annual expenses and events). I already use Monzo savings marketplace for this.
However, for my long term and emergency savings (which are much larger sums of money) I’m reluctant to move my money to Monzo. Reason being I’m not keen on having very large sums of money accessible via apps installed on my day-to-day phone, especially if that money is instant access. This is partly privacy-related (I don’t want a shoulder surfer seeing how much money I have in savings or investments when I open my banking app) and partly security-related (I’m slightly concerned about muggings involving being forced to transfer money to another account under duress).
As such, if Monzo is to become a place for me to store larger sums of money/investments, I’d like to see a few additional features.
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Option to set a savings pot (or invesment account when those are launched in the future) to hidden/obscured with an extra tap needed to reveal the balace or access the pot.
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Option to set a withdrawal delay from a Monzo pot/investment account (like the delay that’s inherent when using 3rd party pots).