Our all-new Savings Pot is here 🎉

Monzo Chat News & Updates
21

How does this work on the sheets integration? Does interest show?

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22

This is amazing. I need this (but don’t have it yet).

:pray:

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23

Closed the existing pot so the money is back in the account for when it drops on my account, great work all

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24

Nice work team! :v:t4:

25

Can you use the savings pot as a bills pot? Can you schedule withdrawals as well as deposits?

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26

This is great!

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27

I would have assumed so, but i’d still have a separate pot for bills

28

Liking the new Pot Images too – that @Carlo1460 revealed :eyes:

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29

Makes sense what they were for now :joy:

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30

Not for bills.

Yes for scheduled deposits & withdrawals

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31

Interesting segway. I think this is wholly seperate from the interest rate you get on main balances as part of both plus/premium (which is a wholly different topic) but as an even better - a preferential rate for premium on this pot. I appreciate that there is a line however.

Overall great to see and finally! Quick Question - I’m presuming this isn’t tax free?

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32

You know it’s going to be an answer you don’t like :rofl: they’ll of forgotten about it

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33

It’ll probably be tax free & handled like most savings accounts, but they’ll report it back to HMRC like most bank accounts, and HMRC will chase you for the tax you owe - I believe.

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34

Amazing work :tada: sadly I’ve reached my 20 pot limit :sob: and wondered if that limit can be increased? Also pot2pot transfers would be awesome here.

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35

Great news, will move my Zopa savings to this rather than Chase now.

36

You aren’t able to set scheduled withdrawals or make payments directly from Instant Access Savings pots as we designed them to encourage you to keep your savings and budgeting separate.

Instant Access Savings Pots are best suited for saving towards short-term goals like building up an emergency fund or saving up for a holiday.

Our other Savings Pots might be better for savings you don’t need to dip into. And Regular Pots are best suited to setting small amounts of money aside for budgeting or paying bills.

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37

The withdrawal screen has the “Schedule” part below it :eyes: so that’ll be confusing ………

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38

The majority of your 3rd party pots are irrelevant now to be fair, especially the ones under 3% interest rate.

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39

I feared that would be the case.

I wouldn’t mind so much but the Premium interest rate is pretty poor. And I have yearly bills that I save for monthly - so looks like I’ll have to continue to put that in the savings pot (:soon:) then manually take it out when the bill comes.

Sadness.

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40

Can we open joint pots?

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